Novuna loan calculator

Use our Novuna Personal Finance loan calculator to get an idea of how much you'd pay back on a fixed-rate, unsecured Novuna Personal Finance personal loan as a new or existing customer. Loan amounts between £1,000 and £35,000 with rates starting from 5.9%.

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Novuna Personal Finance

With its simple application process and quick payment times, Novuna (formerly Hitachi) Personal Finance is a regular winner of the Your Money UK’s Best Direct Loan provider award. Proudly stating “We are not a bank”, it aims to put the “personal” back into “personal finance”. We’ve put together a page to check out what all the fuss is about.

Table: sorted by representative APR, promoted deals first
1 - 1 of 1
Product Finder Score Loan amounts Loan terms Repayments
Novuna Personal Finance logo
Finder score
Finder score
£1,000 - £35,000
2 years - 7 years
£303.07
(£10,910.55 overall)
Representative Example: Representative 5.9% APR fixed. Based on a loan of £10,000 for 36 months at 5.9% p.a. Total £10,910.55 repayable at £303.07 per month.
Representative Example: Representative 5.9% APR fixed. Based on a loan of £7,500 for 60 months at 5.9% p.a. Total £8,647.2 repayable at £144.12 per month.
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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

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.

How do Novuna loans compare against the competition?

See today's rates from across the personal loan market.

Novuna Personal Finance loan rates at a glance

The Novuna Personal Loan charges 5.9% APR representative on loans between £7,500 and £25,000. Novuna Personal Finance offers the unsecured personal loan with repayment terms between 2 years and 7 years, and applicants can apply to borrow from £1,000 to £35,000.

Key features

Loan typeUnsecured Personal Loan
Loan amounts£1,000 to £35,000
Loan terms2 years to 7 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,Cheque

APR and Representative APR explained

The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because Novuna Personal Finance doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.

However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what Novuna Personal Finance gives to at least 51% of those who take out the loan. The other 49% could pay more. Novuna Personal Finance must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.

Novuna Personal Finance advertises a representative APR of 5.9% on loans between £7,500 and £25,000 on the Novuna Personal Loan.

Am I eligible for a Novuna personal loan?

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

  • You are aged 21 or over
  • You have a bank or building society account
  • You are a permanent UK resident (and have been living in the UK for at least 12 months)
  • You are in permanent paid employment, self-employed or retired with a pension
  • You have a good credit history

What credit score do I need to get a Novuna Personal Finance loan?

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

Do Novuna Personal Finance loans give an instant decision?

Yes, Novuna Personal Finance offers instant decisions online in most cases. (Occasionally, more information may be required.)

Can I get a second Novuna Personal Finance loan?

Novuna Personal Finance doesn't allow you to run multiple loans at the same time. However, Novuna Personal Finance does allow you to effectively "top up" your loan, by closing your current loan and starting a new, larger loan (you can call Novuna Personal Finance on 0344 375 5500 for details). There's no penalty for repaying ahead of time, but bear in mind that overpayments may be subject to up to 2 month's of interest beyond the date on which you overpay. Don't forget, each application for credit will be considered on its own merit.

Can I make overpayments on a Novuna Personal Finance loan?

Yes, you can make overpayments without incurring any penalty fee. However, Novuna Personal Finance 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 can I apply?

First, you can use this eligibility checker to find out if you'd be likely to get approved for the Novuna Personal Loan. This won't impact your credit score.

One of the best things about Novuna personal loans is the super-simple and quick application process. A decision on your application is usually made immediately. Before you start, have these personal details ready:

  • Annual income
  • Employment details
  • Bank account details
  • Last 5 years’ address history

Once your loan is accepted, Novuna will have the money to you within 48 hours.

Alternatively, you can also apply by phone if you call 0343 351 9112, although this may take a little longer.

What is Novuna Personal Finance?

Novuna Personal Finance started out over thirty years ago providing manufacturers with innovative finance solutions. It now lends to UK borrowers too, with the mantra of keeping things as simple for you as possible. Call it Japanese minimalism if you like! Whether you’re buying a car, making home improvements, or celebrating a special event, Novuna have a competitive loan that could get you there sooner.

Pros and cons

Pros

  • Competitive interest rates
  • Fixed-rate monthly payments
  • You can choose your monthly repayment date
  • No-fee early repayments available, depending on application
  • Instant credit decision
  • Eligibility checker
  • Potential loan options for those with lower credit scores
  • Receive money within two working days

Cons

  • You’ll need a good credit history for their lowest rates
  • Pre-approved loans unavailable

Novuna Personal Finance customer reviews

In our 2025 customer satisfaction survey, 80% of Novuna customers said they’d recommend the brand to a friend.

Customers in our survey spoke positively about Novuna’s overall service. One commented: “They are really easy to deal with and the interest rate is competitive”. Another mentioned that the “online repayment system was easy to use”.

On review site Trustpilot, Novuna has a score of 4.6, an “excellent” rating based on over 3,700 reviews (updated May 2024). Customers praise the Novuna app and customer service.

How do I contact Novuna’s customer services?

If you’re an existing customer with an retail finance or personal loan agreement, you can call the customer helpline on 0344 375 5500.

Our verdict

If you’re looking to get an instant decision on whether you’re eligible for a Novuna personal loan and for which rate, Novuna’s eligibility checker can help you out – your results will not show pre-approved loans and the rates you could be offered when you apply may change. It’s important to bear in mind that a good credit score is required to qualify for Novuna’s lowest rates, but there are potential options for those with lower credit scores. Funds may take up to two working days to be received, so if you need funds sooner, there are other lenders who offer same day or next day funding.

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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
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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 554 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health
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