RateSetter loans
Our RateSetter loan calculator will help you work out how much you'll pay back on a RateSetter personal loan, and how it compares. Loan amounts between and starting from .

RateSetter is no longer accepting new personal loans applications. We’ve kept this review for historical purposes. You can compare alternative loans.
Launched in 2010, RateSetter began as a peer-to-peer platform offering fast and competitive fixed-rate loans of up to £35,000 online. RateSetter is a marketplace where people looking to borrow are matched up with those who want to invest. In August 2020 RateSetter was acquired by Metro Bank.
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 |
While most personal loan providers don’t charge a fee, peer-to-peer lenders often do. RateSetter’s is set based on your credit profile and it’s spread out over your loan payments. Crucially, it’s non-refundable, so if you repay early, you might save money in interest, but you’ll need to pay the fee off in full.
Borrowers will also need to meet the following criteria:
Business borrowers will also need to meet the following criteria:
Property development loans are deemed more “personal”, and do not have a strict set of criteria to meet. The loan approval is at the discretion of the account managers.
If you've decided that a personal loan from RateSetter is right for you, you can head over to RateSetter's website to apply. Completing the secure online application form usually takes about 15 minutes. In most cases RateSetter will give an instant decision. Before you apply, you can provide RateSetter with a few details about yourself to find out your likelihood of being approved. This will not affect your credit score.
Ratesetter has received positive reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.8 out of 5, based on more than 11,000 reviews (updated June 2023). Some customers praised the simple and easy loan application process and quick approval.
If you have any queries, you can RateSetter’s customer services team on 020 3142 6226 or by email at contactus@ratesetter.com.
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