Halifax loans calculator and review 2025

Halifax personal loans are available to anyone, but have specific perks if you're an existing current account customer. Check out the lender's current rates and see how they compare. Loan amounts between £1,000 and £50,000 starting from 6.7%.

3.8 ★★★★★ (393 reviews) Write a review
Halifax

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Calculate the cost of a Halifax loan

Product
Finder Score
Total Payable
Monthly Repayment
Representative APR
Halifax logo
Finder score
£16,551.00
£459.75
6.7%
Representative example: Borrow £15,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £16,551.00 in monthly repayments of £459.75.
View details
Halifax logo
Finder score
£16,551.00
£459.75
6.7%
Representative example: Borrow £15,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £16,551.00 in monthly repayments of £459.75.
View details
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Finder Score for unsecured loans

To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.

Read the full methodology

How do Halifax loans compare against the competition?

Table: sorted by representative APR, promoted deals first

Before you take out a personal loan, it’s important to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind.

1 - 4 of 20
Product Finder Score Total Payable Monthly Repayment Representative APR
Novuna Personal Finance logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
Check eligibilityView details
My Community Bank logo
Finder score
Representative example: Borrow £5,000 over 48 months at a rate of 24.2% pa (fixed). Representative APR 27.1% and total payable £7,853.87 in monthly repayments of £163.62.
Check eligibilityView details
Barclays Existing Current Account Loan
Barclays Bank logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
View details
Halifax logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.
View details
loading

Finder Score for unsecured loans

To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.

Read the full methodology

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

Our verdict

Halifax loans offer competitive rates and flexibility, including the option for repayment holidays and making extra payments without charges. However, you'll need a good or excellent credit score to be eligible, and loans up to £50,000 are exclusive to existing customers. Additionally, early repayment incurs a charge equivalent to 58 days' interest. Despite these limitations, for customers with good credit, Halifax loans remain an appealing choice.
Pros
  • Competitive rates
  • Take a repayment holiday
  • No charge for making extra payments
Cons
  • You need a good or excellent credit score to be eligible
  • Only existing customers can apply for up to £50,000
  • Early loan repayment incurs 58 days’ interest charge
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.
Halifax Existing Customer Personal Loan

Maximum loan

£50,000

Product fee

N/A

Early redemption fee

Yes

What is Halifax?

Named after the West Yorkshire town where it was founded as a building society in 1853, Halifax is now part of the Lloyds Banking Group, and a major player in the UK banking market. It’s also known for briefly making a cult star of Howard Brown, the former face of its TV advertising campaigns.

Whether you’re looking to buy a new car, consolidate debt, refurbish the kitchen, or take that desperately needed holiday, Halifax offers competitive and flexible fixed-rate loans.

Quick overview of Halifax personal loans

Loan amounts From £1,000 to £50,000
Loan terms From 1 year to 7 years
Age eligibility 18 years and over
Application fee No application fee
Repayment holiday Repayment holiday not permitted

Key features of Halifax loans

You don’t necessarily have to have your current account with Halifax to apply for a Halifax personal loan, but there are some potential benefits if you do.

New customers

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £50,000.00
Loan terms1 year to 5 years
Loan rate typeFixed
Product fee0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Halifax states that existing current account holders could get a quote in as little as ten minutes and could then receive the funds instantly.

Halifax current account holders

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £50,000.00
Loan terms1 year to 7 years
Loan rate typeFixed
Product fee0%
Same-day funding available
Same-day funding noteSubject to internet banking log on
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Halifax states that funds should reach new customers’ accounts within five working days from accepting the loan offer.

Joint loans are also available through Halifax, but you must apply by phone or at a branch.

You can choose the day of the month on which repayments are taken (most people arrange this for on or just after their payday). If your first loan repayment falls within nine days of the funds being drawn down, the first repayment will be due on that date the following month.

What is APR?

The Annual Percentage Rate (APR) is designed to provide an annual summary of the cost of a loan, taking into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan. Because Halifax doesn’t charge an arrangement/product fee, the interest rate and the APR are the same.

All lenders calculate the APR of their products in the same way and must tell you the APR before you sign an agreement.

Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR. If Halifax looks at your circumstances and credit history and decides that you’re a higher risk, it may offer you a loan at a higher rate of interest.

They have been fantastic and clear in their help. They have been more than happy to assist me in all I have needed.”

Halifax customer in Finder's 2021 survey

Am I eligible for a Halifax personal loan?

You should only apply for a Halifax personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:

  • You must be aged 18 or over.
  • You must be a UK resident (excluding the Channel Islands and the Isle of Man).
  • You must be in paid employment, or have a regular income.
  • You must not be in full time education.
  • You must not have been declined for credit in the last month.
  • You must not have a history of bad credit.

What credit score do I need to get a Halifax loan?

Halifax typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that Halifax considers. However, if you don't have a high credit score, you're very unlikely to get approved for a Halifax loan.

A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.

Can I get a second Halifax loan?

Yes, Halifax allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, Halifax also allows you to effectively "top up" your loan by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to 2 months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the 2.

Can I make overpayments on a Halifax loan?

Yes, you can make overpayments without incurring any penalty fee. However, Halifax can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

How do I apply?

Make sure you have the following information handy for your application:

  • Your address details for the past three years.
  • Your current employment details, if in employment.
  • Your monthly income and monthly outgoings.
  • Your UK bank or building society account details.

And to confirm your identity online (if you’re not an existing customer) you’ll need:

  • Valid UK passport or UK driving licence (including provisional driving licence) with photo.
  • Smartphone or tablet with camera.
  • A pen and paper.

Does Halifax offer debt consolidation loans?

Yes, while it doesn’t offer dedicated debt consolidation loans, both new and existing customers can take out a Halifax personal loan to consolidate debt. As with a regular Halifax loan, new customers can borrow up to £25,000 for debt consolidation, while existing Halifax current account customers can borrow up to £35,000.

Can I get a Halifax homeowner loan?

No. Halifax doesn’t offer second charge mortgages, which are also known as “homeowner loans” or “secured loans”. If you’re a homeowner with a mortgage, then a secured loan can let you leverage the equity you’ve built up in your home to access larger loan amounts and/or lower interest rates. These tend not to be offered by high street banks, but by long-standing specialist companies (Pepper Money (formerly Optimum Credit) is one of the best known). You can learn about secured loans and compare your options in our comprehensive guide.

Halifax customer reviews

In our independent 2025 customer satisfaction survey, 90% of Halifax’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s easy application process and competitive rates. Here’s what some of those Halifax customers had to say:

“Clear, quick, no extra fees, can overpay, great rate, integrates seemlessly into the app.”

“Easy to apply for and then manage through the app.”

“Good quality service with fair fees.”

Halifax customer support

You can contact customer support on 0345 604 7292. Lines are open from 8am-10pm, 7 days a week.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Your reviews

3.8
★★★★★(0)
5
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All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.

10 of 393 reviews

★★★★★ Dania (Norwich) 4 months ago

Via customer survey commissioned by Finder

great service and apr rate


★★★★★ Noah (London) 4 months ago

Via customer survey commissioned by Finder

Very good interest rate and easy to apply for


★★★★★ Phill (Birmingham) 4 months ago

Via customer survey commissioned by Finder

I got the loan to assist with a deposit to move house


★★★★★ Henry (Nottingham) 4 months ago

Via customer survey commissioned by Finder

It's been ok. Not negative, not positive.


★★★★★ Samantha (London) 4 months ago

Via customer survey commissioned by Finder

Easy to apply online


★★★★★ Carrie (Birmingham) 4 months ago

Via customer survey commissioned by Finder

Clear, quick, no extra fees, can overpay, great rate, integrates seemlessly into the app.


★★★★★ Jane (Liverpool) 4 months ago

Via customer survey commissioned by Finder

Good quality service with fair fees


★★★★★ Morris (Leeds) 4 months ago

Via customer survey commissioned by Finder

Easy to apply for and then manage through app


★★★★★ Olivia (London) 4 months ago

Via customer survey commissioned by Finder

They have fairly good interest rates


★★★★★ James (London) 4 months ago

Via customer survey commissioned by Finder

Simple and clear


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Written by

Head of publishing

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 566 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health
  • Share trading

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