{"id":102899,"date":"2018-04-24T13:36:55","date_gmt":"2018-04-24T12:36:55","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=102899"},"modified":"2025-07-31T11:09:57","modified_gmt":"2025-07-31T10:09:57","slug":"10000-loan","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/personal-loans\/10000-loan","title":{"rendered":"Compare \u00a310,000 personal loans"},"content":{"rendered":"

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.<\/p>

Late repayments can cause you serious money problems. See our debt help<\/a> guides.<\/p><\/div><\/article>

Can I get a loan of \u00a310,000?<\/h3>

Yes, you should be able to borrow \u00a310,000 as long as you meet the lender’s eligibility criteria. Many lenders and providers offer loans for \u00a310,000, including for those with bad or limited credit history. You can compare loans above, or find out how to get the cheapest loan below.<\/p><\/div><\/div><\/div>

What’s the cheapest \u00a310,000 loan on the market currently?<\/h3>

It’s currently possible to borrow \u00a310,000 with rates as low as 5.9% APR, or even slightly less, but these market-leading rates are reserved for borrowers with excellent credit. Those table-topping rates may also only be available on loans of specific durations (after all, at 5.9% over a year, there’s not much profit in it for the lender).<\/p>

What does the “representative APR” mean?<\/h3>

Because lenders tend to adjust their interest rates to each applicant (aka “risk-based pricing”), there are strict rules around the rates that they advertise. The Financial Conduct Authority (FCA) states that a lender’s representative APR must be the APR (annual percentage rate) that at least 51% of its customers actually receive. The other 49% will usually be offered a higher rate.<\/p>

The annual percentage rate is a summary of the annual cost of borrowing, but as we’ve explained, you’ll want to make sure that the APRs you’re comparing are the APRs that you’d actually be offered. For the majority of us, we’ll need to provide a little information about ourselves in order to see accurate, personalised rates from willing lenders.<\/p><\/div><\/div><\/div>

What is the monthly payment on a \u00a310,000 loan?<\/h3>

This will depend on the length of your loan, and the interest rate you receive. For example, a \u00a310,000 loan that has a fixed rate of 10% p.a. over 5 years, your monthly payment will be \u00a3212.47. In comparison, with a \u00a310k loan offering a fixed rate of 5% p.a. and a 1 year term, you’ll pay \u00a3856.07 each month. You can calculate the cost of a \u00a310,000 loan here<\/a>.<\/p>

Borrowing over a longer term can bring your monthly repayments down to more affordable levels but it also pushes up the overall cost of the loan, making it important that you secure a competitive rate.<\/p>

Whether you’re buying a car, consolidating debt or planning your wedding, here are some examples of \u00a310,000 loans at varying rates and loan terms.<\/p>
<\/th>5.0% p.a. interest<\/th>10.0% p.a. interest<\/th>25.0% p.a. interest<\/th><\/tr><\/thead>
1-year term<\/th>\u00a3856.07<\/td>\u00a3879.16<\/td>\u00a3950.44<\/td><\/tr>
2-year term<\/th>\u00a3438.71<\/td>\u00a3461.45<\/td>\u00a3533.72<\/td><\/tr>
3-year term<\/th>\u00a3299.71<\/td>\u00a3322.67<\/td>\u00a3397.60<\/td><\/tr>
4-year term<\/th>\u00a3230.29<\/td>\u00a3253.63<\/td>\u00a3331.57<\/td><\/tr>
5-year term<\/th>\u00a3188.71<\/td>\u00a3212.47<\/td>\u00a3293.51<\/td><\/tr><\/tbody><\/table>

How much will a \u00a310,000 loan cost overall?<\/h3>

The example loans below use approximate figures based on a flat interest rate:<\/p>
<\/th>5.0% p.a. interest<\/th>10.0% p.a. interest<\/th>25.0% p.a. interest<\/th><\/tr><\/thead>
1-year term<\/th>\u00a310,272.90<\/td>\u00a310,549.91<\/td>\u00a311,405.30<\/td><\/tr>
2-year term<\/th>\u00a310,529.13<\/td>\u00a311,074.78<\/td>\u00a312,809.16<\/td><\/tr>
3-year term<\/th>\u00a310,789.52<\/td>\u00a311,616.19<\/td>\u00a314,313.54<\/td><\/tr>
4-year term<\/th>\u00a311,054.06<\/td>\u00a312,174.04<\/td>\u00a315,915.42<\/td><\/tr>
5-year term<\/th>\u00a311,322.74<\/td>\u00a312,748.23<\/td>\u00a317,610.79<\/td><\/tr><\/tbody><\/table>

So how does my credit score affect things?<\/h3>

If you’re looking at borrowing \u00a310,000 and you’re in the minority of people who know they have excellent credit and, crucially, the loan you’re interested in would be comfortably affordable, then you might opt to go straight to a traditional lender such as a bank, supermarket or building society and enjoy those super competitive rates.For everybody else, you’ll want to be upfront about your credit history so that you don’t waste your own time and to avoid disappointment. It’s not possible to borrow \u00a310,000 without a credit check (at least not from a legitimate lender)

Can I get a \u00a310,000 loan with bad credit?<\/h3>

\u00a310,000 is a lot of money, so most \u2013 but not all \u2013 lenders will look for a good-to-excellent credit score before they’ll approve you. There are now plenty of specialist lenders who lend to less than perfect credit histories<\/a>, and offer loans of \u00a310,000, but as you might expect, they charge much higher interest rates. Your objective should be to identify the very best rates available to you.<\/p>

The most sensible approach is a loan matching service. That’s a fancy way of saying a broker that runs “soft search” credit checks with a number of lenders to see which would approve you. You’ll need to fill in a short online form, but it’s a lot faster than going to multiple lenders individually.<\/p><\/div><\/div><\/div>Compare pre-approved loans

Could I get a cheaper \u00a310,000 loan with security?<\/h3>

A secured loan is when you put forward an asset as security for the lender. Typically, it’s the equity in your home. The lenders can see this as less of a risk because if the worst comes to the worst and you default on the loan, they’ll be able to sell the asset to recoup their losses.<\/p>

Pros of a secured loan<\/h4>