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.
We currently don't have that product, but here are others to consider:
How we picked theseTo 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.
How do Novuna loans compare against the competition?
See today's rates from across the personal loan market.
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.
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000 to £35,000 |
| Loan terms | 2 years to 7 years |
| Loan rate type | fixed |
| Product fee | 0% |
| 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 methods | Direct debit,Cheque |
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.
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.
Calculate the cost of an MBNA personal loan and see how much you can borrow today.
You can borrow from £1,000 to £35,000 with a Virgin Money personal loan over up to 7 years.
Capital One may not offer personal loans in the UK, but here are alternative options for those with less than perfect credit.
Hoping to buy a caravan, but worried about what it’ll do to your wallet? We’ve got the guide to ease those worries, so you can look forward to making lasting memories.
Find out if a Norwich Trust homeowner loan is right for you. We walk you through the key features, eligibility and how to apply in this handy guide.
Shawbrook Bank is an alternative to traditional high-street lenders, and offers fixed-rate, unsecured personal loans between £1,000 to £50,000 at competitive rates.
Fast, simple comparison of TSB fixed-rate personal loans with services from a range of UK lenders. Secure a competitive rate and apply online.
Looking to tidy up your finances, make some home improvements or replace your car? Nationwide offer fixed-rate personal loans of up to £25,000. Fast and simple comparison with a range of UK lenders.
Compare NatWest fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.