Saga

Saga personal loans review

Saga formerly offered transparent, fixed-rate personal loans of up to £25,000, provided through Shawbrook Bank.

No reviews yet. Write a review

Saga Personal Finance overview

Founded in 1959, Saga is a British company whose focus is on serving those aged 50 and over. It’s well-known for offering a range services including package holidays, insurance and personal finance products. The Saga magazine is extremely popular with an estimated readership of over one million per month and has been described as the “United Kingdom’s biggest selling monthly subscription title”.

Until 2019 Saga offered fixed-rate personal loans, but it has since opted to focus on equity release plans.

if you’re looking for a personal loan, you can use this page to find an alternative lender and estimate the cost of the loan that you have in mind.

Post Office Money® Personal Loan

Fast, flexible loans from Post Office Money

  • Borrow from £1,000 to £25,000
  • Instant decision in most cases
  • Fixed rate and fixed monthly payments over the whole term
  • Applications from self-employed considered

Representative example: Borrow £10,000.00 over 3 years at a rate of 5.0% p.a. (fixed). Representative APR 5.0% and total payable £10,771.56 in monthly repayments of £299.21.

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

Compare other lenders

Table: sorted by representative APR, promoted deals first
1 - 6 of 6
Name Product Total Payable Monthly Repayment Representative APR Link
Zopa Personal Loan
View details
Representative example: Borrow £1,500.00 over 3 years at a rate of 19.9% p.a. (fixed). Representative APR 19.9% and total payable £1,959.84 in monthly repayments of £54.44.
Novuna Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.9% p.a. (fixed). Representative APR 5.9% and total payable £10,910.52 in monthly repayments of £303.07.
Fluro (formerly Lending Works) Personal Loan
Check eligibility
View details
Representative Example: Assumed borrowing of £7,500.00 over 48 months at 16.9% APR representative. Monthly cost of £211.47. Total amount repayable of £10,150.38. Interest rate of 15.7% p.a.(fixed) and total fees of £150.00.
Barclays Bank Existing Current Account Customer Barclayloan
View details
Representative example: Borrow £25,100.00 over 3 years at a rate of 13.1% p.a. (fixed). Representative APR 13.1% and total payable £30,173.76 in monthly repayments of £838.16.
Lloyds Bank Existing Customer Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.9% p.a. (fixed). Representative APR 5.9% and total payable £10,910.52 in monthly repayments of £303.07.
My Community Bank Personal Loan
Check eligibility
View details
Representative example: Borrow £6,000.00 over 4 years at a rate of 18.85% p.a. (fixed). Representative APR 18.85% and total payable £8,335.00 in monthly repayments of £173.64.
loading
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Saga personal loans at a glance

Saga provided “unsecured” loans – based on creditworthiness, rather than the use of property or other assets as collateral.

  • Loan terms from 1-7 years. The repayment time you can choose is dependant on the amount of money you borrow.
  • Loan amounts from £1,000-£25,000.
  • Soft searching. Find out whether you’re likely to be approved for a loan without it affecting your credit score
  • Make early repayments. You can repay all or part of the outstanding balance of your loan at any time – simply contact Saga by post or over the phone (0345 848 0269). Early repayment charges will apply.
  • Take payment holidays. After 6 monthly regular payments, and as long as you account is up to date, you can request to take a month off from payments. You can have one payment break every 12 months and can do this 5 times depending on the loan. While there are no fees charged for the break, you’ll still accrue interest during this period meaning your loan will cost more overall.

All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.

Eligibility criteria

When applying for a personal loan with Saga, factors such as your credit history, income and the amount you apply for will be considered. You shouldn’t apply unless you’re certain you can meet the repayment terms. You’ll then also need to meet the following criteria:

  • Aged 50-75
  • Resident of England, Scotland or Wales
  • Homeowner
  • Annual income of £12,000 or above (including pension income).

How do I apply?

It’s not currently possible to apply, but existing customers can call 0800 121 4240 to speak to a representative from Monday–Friday 9am-9pm, Saturday 9am-5pm.

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.

More guides on Finder

Go to site