AA personal loans review

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Our verdict

Our verdict

AA is a broker offering fixed monthly repayments on its loans, as well as the flexibility to make additional payments. While the lowest rates are for existing customers only, competitive rates are still available - granted you have a good credit score. If you did want to repay your loan early to reduce the amount of interest you’ll pay overall, you may be charged an early repayment fee.

Best for: No set-up fees

Pros

• Fixed monthly repayments
• Instant decisions available for most applications
• Early repayments allowed
• New AA members can get 12 months’ free basic breakdown cover

Cons

• Lowest rates available for existing customers only
• Fee may be applied if you pay off early
• You’ll need good credit for low rates

Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.

★★★★★

User survey

★★★★★

Finder score

Maximum loan

£40,000

Product fee

N/A

Early redemption fee

Yes

How do AA loans compare against the competition?

How much do you need to borrow? £

15000

How long do you need to borrow for?

3

years

Sort by:

Name	Product	Ratings	Finder rating	Customer rating	Total Payable	Monthly Repayment	Representative APR	Link
Novuna Personal Loan		Finder score ★★★★★ User survey ★★★★★	★★★★★ Expert analysis	★★★★★ User rating				Check eligibility View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.	Compare	loading Fetching your data...
My Community Bank Personal Loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				Check eligibility View details	Representative example: Borrow £5,000 over 48 months at a rate of 27.8% pa (fixed). Representative APR 27.3% and total payable £7,928.57 in monthly repayments of £165.18.	Compare	loading Fetching your data...
Barclays Existing Current Account Loan		Finder score ★★★★★ User survey ★★★★★	★★★★★ Expert analysis	★★★★★ User rating				View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 9.9% p.a. (fixed). Representative APR 9.9% and total payable £11,527.92 in monthly repayments of £320.22.	Compare	loading Fetching your data...
Vanquis Bank Personal Loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 22.3% p.a. (fixed). Representative APR 22.3% and total payable £13,433.76 in monthly repayments of £373.16.	Compare	loading Fetching your data...
Plend personal loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				View details	Representative example: Borrow £8,000 over 48 months at a rate of 16.66% p.a. (fixed). Representative APR 17.99% and total payable £11,013.12 in monthly repayments of £229.44.	Compare	loading Fetching your data...
Tesco Bank Personal Loan Finder Award		Finder score ★★★★★ User survey ★★★★★	★★★★★ Expert analysis	★★★★★ User rating				View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 6.3% p.a. (fixed). Representative APR 6.3% and total payable £10,972.08 in monthly repayments of £304.78.	Compare	loading Fetching your data...
Tesco Bank Clubcard Personal Loan Finder Award		Finder score ★★★★★ User survey ★★★★★	★★★★★ Expert analysis	★★★★★ User rating				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.	Compare	loading Fetching your data...
Lendwise		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				View details	Compare	loading Fetching your data...
Zopa Personal Loan		Finder score ★★★★★ User survey ★★★★★	★★★★★ Expert analysis	★★★★★ User rating				View details	Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.	Compare	loading Fetching your data...
Lloyds Bank Existing Customer Personal Loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.	Compare	loading Fetching your data...
Fluro (formerly Lending Works) Personal Loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				Check eligibility View details	Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.	Compare	loading Fetching your data...
thinkmoney Personal Loan		Finder score ★★★★★	★★★★★ Expert analysis	Not yet rated				View details	Compare	loading Fetching your data...

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What is the AA?

In case by some miracle you haven’t heard of it, the Automobile Association (AA) is a British institution, having provided assistance to its members since 1905. In addition to breakdown cover and driving lessons, the AA now also provides financial services including insurance, savings and personal loans.

AA loans were provided by the Bank of Ireland UK, and AA Financial Services Ltd is a credit broker and not a direct lender.

Quick overview of AA personal loans

Key features of an AA personal loan

AA personal loans were available over periods between 1 and 7 years (in 6-month increments), and you could apply for any amount between £1,000 and £25,000 (in £100 increments). The rate you were offered depended on factors like your credit rating and income, but you can get an idea of the best rates by using our loan comparison table.

Was I eligible for an AA personal loan?

You don’t have to be an AA member to apply, but you did need to meet the following criteria:

• Have been a UK resident for at least 3 years.
• Be over 21 and no older than 70 when the loan term ends.
• Have a regular income above £12,000 a year. If self-employed, you must have been so for over 2 years.
• Have a good credit rating without a history of County Court Judgment or bankruptcy.
• Have a UK based bank or building society account that can pay direct debits.
• Ensure that you can meet the repayments as missed payments incur a charge and could have severe consequences on your ability to obtain future credit

Pros and cons

AA customer reviews

In our 2023 customer satisfaction survey, AA scored 4.5 out of 5 stars with 83% of its customers saying they’d recommend the brand to a friend.

Customers in our survey commented on AA’s “great service”. One commented: “Easy to use and helpful staff”. However, some customers felt AA’s “communications” could be better.

How do I contact AA customer services?

You can the AA customer service team on 0345 266 0124. Lines are open Monday to Friday 8am to 7pm and on Saturday 8am to 2pm.

Our verdict

AA was a broker offering fixed monthly repayments on its loans, as well as the flexibility to make additional payments. While the lowest rates are for existing customers only, competitive rates are still available – granted you have a good credit score. If you did want to repay your loan early to reduce the amount of interest you’ll pay overall, you may be charged an early repayment fee.

Frequently asked questions

• Do I have to be an AA member?

  No. You don’t have to be an AA member to apply, but AA members could be eligible for exclusive rates.

• Do I actually borrow the money from AA?

  In this instance, the AA is acting as a credit broker and not a direct lender. The loans are provided by the Bank of Ireland UK.

• Is AA a good lender?

  AA take a strict but fair approach to lending. They only accept borrowers with a healthy credit history, so if you have some missed payments on your credit file, this is not the lender for you.

• Do AA loans offer a payment break?

  No, an AA Loan doesn’t come with a payment break option. However if you’re struggling to keep up with the repayments on your AA loan it’s important to contact the AA as soon as possible to talk through the options available. Call 0345 266 0124. There are lots of organisations that can provide confidential, impartial and free help and advice – for example, the MoneyHelper (formerly the Money Advice Service).

• Can I pay off an AA personal loan early?

  Yes! You can settle your agreement early in full or in part, at any time, and there’s no fee to do this.