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.
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 methodologyTo 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 methodologyPlease 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 calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall. We base our calculations on Novuna Personal Finance’s representative APR, but it’s important to note that credit is subject to status, and the actual rate you are offered will depend on Novuna’s assessment of your circumstances.
Best for: Low rates
6.5% APR representative (Fixed)
Maximum loan
£35,000
Product fee
N/A
Early redemption fee
£0
| Loan amount not specified | |
| Loan terms | From year to years |
|---|---|
| Age eligibility | Age eligibility not specified |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
Novuna personal loans come with a fixed rate – meaning your monthly repayment figure won’t change throughout the term of the loan, and you’ll know in advance how much the loan is going to cost you overall.
The Annual Percentage Rate (APR) is designed to provide an annual summary of the cost of a loan, and takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan. All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement. Because Novuna doesn’t charge an arrangement fee, the interest rate and the APR are the same.
The APR can be a handy benchmark for consumers, but there’s a catch: 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.
Novuna offers a fairly competitive, low representative APR, with loans aimed at those with excellent credit. Its sister company, beSavvi, offers loans for people with lower credit scores.
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:
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.
Yes, Novuna Personal Finance offers instant decisions online in most cases. (Occasionally, more information may be required.)
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.
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.
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:
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.
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.
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.
If you’re an existing customer with an retail finance or personal loan agreement, you can call the customer helpline on 0344 375 5500.
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.
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