Top 5 Personal Loan Lenders In UK
Applying for a personal loan, it’s significant to compare personal loan lenders in the UK and find the most suitable one for you. Interest rates and terms of personal loan lenders may differ due to the loan amount you want to borrow, the loan terms, your income and your credit report.
Here is a list of the best personal loan lenders in the UK that you can get a personal loan with an affordable interest rate and reasonable payment terms for borrowing £10,000 to repay within 24 months.
M&S Bank and Sainsbury’s Bank Personal Loans
Both M&S Bank and Sainsbury’s Bank have a representative rate of 2.9% APR for borrowing £10,000 to repay within 2 years. In total, you will be repaid £10,300.80 by paying off £429.20 for 24 months with a rate of 2.9%. To get a personal loan, both of these banks require you to meet the minimum age requirement (18 years old) and have a good credit score. On the other hand, M&S Bank requires you to have a minimum income of £10,000 while Sainsbury’s Bank requirement of minimum income is £7,500.
AA Personal Loan
If you want to borrow £10,000 from AA to repay in 2 years, the representative rate you get charged will be 3.1% APR which makes the total cost of repayment £10,321.44 with £430.06 monthly repayments.
To receive that loan, you have to be a permanent UK resident and be 21 years old or older. That lender also requires you to have a good credit score and an income above £12,000.
Hitachi And Post Office Money Personal Loans
Both of these lenders can provide you a personal loan if you are 21 or older, a permanent resident of UK and have a good credit score.
To apply for a loan from Post Office Money, you need to have a minimum income of £12,000. Hitachi does not have any arrangement or hidden fees. They both have a representative rate of 3.2% APR for borrowing £10,000 to repay within 24 months and the total cost will be £10,331.76 as you repay £430.49 each month.