Need a personal loan today? Apply now for personal loans online and get an instant decision, even with bad credit. No application fee and no guarantor needed. Monevo’s panel of direct lenders offer low APR rates, allowing for the selection of the best personal loan for you!

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Learn all you need to know about personal loans in the UK!

Learning Highlights
  • You could get unsecured personal loans today.
  • No guarantor required.
  • One of the top lender panels in the UK.
  • No paperwork – it’s all online.
  • People with bad credit welcome to apply.
  • Instant decision.

Personal Loan

Are you running out of funds and need to take a personal loan? You can apply for a personal bank loan with your own bank. Alternatively, you can approach a private personal loans lender company where you may get a personal loan with a better interest rate.

At Personal Loans Now, we offer access to personal loans with high acceptance and good interest rates via the Monevo Lender Panel. Furthermore, you don’t need any guarantor or security. We are happy to help you find the best personal loan for you*. Try Personal Loans Now for a new and unique loan experience.

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Personal Loan Calculator

When you look for a personal loan, finding a good interest rate is essential. It is common for lenders to offer a better interest rate for a smaller sum. Many online lenders publish their products. You can find out what rate you might secure by using a personal loan calculator.

Personal Loan Rates

The exact terms for borrowing money on a personal loan will depend on individual circumstances. The terms you receive can depend a lot on your credit score. Although lenders will offer a headline interest rate which is low, this rate may not apply if you are searching for a personal loan for bad credit history. Moreover, your personal circumstances may result in you being offered a higher rate of interest. Some advertisements offer instant personal loans and these are the products that can carry a higher interest rate. If you need an unsecured personal loan for bad credit and no guarantor, this may also carry a penalty of higher interest rates and an arrangement fee.

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Fixed and Variable Personal Loan Rates

There are different types of personal loan interest rates. A fixed interest rate means that the interest rate will not change over the term of the loan. Obtaining a personal loan at a fixed rate is the best option. It will allow you to know in advance exactly how much must be repaid each month. The majority of personal loans in the UK are arranged as fixed rates. However, there are also products available with variable interest rates.

Personal Loans UK

As long as you are over 18, you can make an application for a personal loan. Some lenders have a maximum age limit, but many offer personal loans to applicants up to the age of 75. Income and monthly expenditures are taken into account as is any other debt. Applicants for personal loan instant applications online must be able to prove their identity and address. Most lenders will insist on an applicant being registered on the electoral roll. In addition, only people who live in the UK can be considered.

Getting Unsecured Personal Loans

How long can you borrow a personal loan for?

There is a minimum and maximum borrowing period for an unsecured personal loan in the UK. The minimum period is 1 month and the maximum can be up to 7 years. However, some lenders will allow a loan to run for 10 years. You can choose how long you want the loan to run but a longer period of borrowing will cost you more in interest payments.

Unsecured Personal Loan

Taking out a personal loan is a much better option than borrowing money on a credit card. Most lenders offer a range of products starting with small personal loans of £500. Today, with easy access to lenders through the Internet, you can get personal loans with instant approval online.

FAQs on Personal Loans

How do I compare personal loan rates in the UK?


First of all, well done for asking! It’s so important to compare unsecured personal loan rates to ensure you are getting the best deal. You can visit a few different lenders to see what rates they offer, or you can use a personal loan comparison UK website to get a general idea. Remember to compare bank personal loan interest rates as well as other lenders on the market. At Personal Loans Now, the cheap personal loans comparison is done for you for free. You will automatically receive the cheapest personal loan offer available to you from the direct lenders on panel. Apply now to save!

Can I do a personal loans eligibility check online?


Every personal loan application will result in a credit check, which shows up on your credit file. Therefore, it’s often a good idea to do a personal loans eligibility check before applying, to see what your chances of approval are. Not all lenders offer personal loans eligibility calculators though. If your lender doesn’t have one it’s worth taking the time to read through their personal loan eligibility criteria and ensure they all apply, to increase your chances of approval. There’s no point in applying to a lender who doesn’t offer personal loans for the self employed if you work for yourself!

Can I get unsecured personal loans for bad credit with no guarantor?


Personal loans for poor credit do exist in the UK. However, they are considered fairly high risk, so lenders may prefer to only offer guarantor bad credit personal loans. It is still possible to obtain bad credit personal loans without a guarantor at decent interest rates, usually from lenders who specialise in personal loans for people with bad credit. At Personalloans Now, we have access to direct lenders for bad credit personal loans, and we guarantee to do our best to provide you with the high quality loan you deserve, no matter what your credit score may be.

Are joint personal loans online for bad credit a good option?


Joint unsecured personal loans are available from many lenders in the UK. A personal joint loan application can bring the interest rates down if your partner has an excellent credit rating. However, it is not recommended to apply with someone who has bad credit as your credit file will now be linked to theirs. For repayments, a joint personal loan does not mean that each partner is only responsible for half the loan. Rather, each is responsible for the entire amount, should their partner refuse or be unable to pay. Think carefully before signing on for a joint personal loan online.

Unsecured Personal Loans Bad Credit

There are also online companies who specialise in offering unsecured personal loans for bad credit. Typically,
the lender might ask for a guarantor to cover the risk of your bad borrowing history. There are, however, lenders that will give you unsecured personal loans no guarantor – possibly with a higher rate of interest. You should only borrow from a lender that is fully authorised to give unsecured personal loans in the UK for your own protection.

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Small Personal Loans

If you need a small personal loan fast, you can apply for a personal loan online. As long as your credit history is good, it is easy to qualify for personal loans. However, do not be tempted to take out a loan for a higher sum than you need. Conversely, small personal loans are going to attract a higher rate of interest, especially small personal loans for bad credit. Therefore, always check on the rate and any other fees that might apply for smaller sums.

Small Personal Loans Bad Credit History

Applying for a small personal loan for a bad credit history can be difficult and costly. Sometimes, in this situation, it might be better to apply for a larger sum using a guarantor. This is a debt consolidation loan, and it can allow you to consolidate several smaller debts into one monthly payment. If you want a small personal loan and have no credit history, it can also be quite challenging to borrow. This is because lenders prefer applicants who have some historical borrowing. In these circumstances, you could consider taking out a joint personal loan. Then, you can start to slowly build up your own credit history.

In these uncertain times, small personal loans for bad credit are becoming quite common. Lenders are having to be more flexible as there are many people who find themselves in difficult circumstances but who need to borrow money. However, they cannot even apply for small personal bank loans.

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Instant Personal Loans

When you are looking to apply for a personal loan online, then it normally means that you need the money quick. Otherwise, you could just make an appointment with your bank. Luckily, personal loans with instant approval are available online in the UK. Still, your urgency should not push you into making rash decisions. Every single borrowing experience must well thought out. Making the wrong move with the wrong lender can lead you into bigger debt than necessary.

Instant Bad Credit Personal Loans

Instant personal loans bad credit are also available online for customers who are looking to borrow, but don’t have the best credit history. These loans are still instant, but they may be with a higher price tag. This is because the lender may feel that they are taking a larger risk by lending to you.

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How do people in the UK use personal loans?

There are many types of personal loans available for people in the UK. Most of the direct lenders on panel offer fast decision and same day funding. Depending on the amount of cash you need and the purpose of the loan, then Monevo’s technology will try to match you up with the best personal loans lender for you. Some of the lenders are specialised in lending money to people with bad credit. Borrowing money online should be done with caution and only from a lender authorised by the Financial Conduct Authority. All the lenders on the Monevo lending panel are FCA authorised and their status is constantly under supervision to ensure the safety of our customers. If a lender is advertising ‘fast approved personal loans’, then make sure that they are reliable and are carrying out all the required checks before lending to you.

Personal Loans Online
Loan type Description Apply online
Car finance personal loans If you are in urgent need of a new vehicle, having access to car finance loans in the UK is a must. Buying a car using a personal loan has helped many people especially those who live in remote areas where public transport is scarce. Apply now
Home Improvement Personal Loans One of the ways in which you can improve your life and add value to your house is to take out a home improvement personal loan. It can help you to make essential improvements to your property which will be worth more and can make your life more comfortable. Statistics show that adding a conservatory or an extension to the home is an easy way to increase the value of the property, and it gives a great return on investment. Apply now
Debt Consolidation Personal Loans In recent years, the debt consolidation loan has become very popular. Borrowing a sum to pay off existing debts can be beneficial, especially if you have several payments to make each month. One thing to note about this kind of loan is that it is always better to get some advice from a debt counselling organisation before taking on more debt. However, if the total amount you have to pay each month is lower than the amount you are paying now, this kind of loan is a good option. Apply now
Guarantor Loans in the UK One type of loan that is becoming more commonplace is the guarantor Loan. If you are having a problem being accepted as an individual either because you have bad credit or no credit history at all, a guarantor loan can be the answer to help you get finance. Anyone can apply for a guarantor loan as long as they know someone who is willing to add their name to the contract. The guarantor provides the surety for repayments and if you do default they will have to pay. This type of loan is particularly useful for younger people who have never borrowed money in the past. Apply now for a no guarantor loan
Personal Loans for the Self Employed Obtaining a personal loan for the self employed is challenging but there are lenders who specialise in this kind of product. Applicants who apply for a self employed personal loan can no longer self certify their earnings but have to show records of their salary just as employed people have to do. Apply now
Wedding Loans Paying for a wedding can prove to be very costly and many people turn to a personal loan to finance the big day. Even if you can pay for some of the costs of a wedding it is almost impossible to cover everything so taking out a personal loan to cover the more expensive items is one option. The most expensive parts of wedding costs are the reception and paying for the venue. If you can pay for the remainder of the costs like cars, flowers and photographs, then taking out a personal wedding loan for these two items will cut down on the amount of debt. Apply now
Logbook Loans Logbook loans started in the US and since 2008 have become another method of borrowing in the UK. You can borrow up to 50% of the value of your car and the lender keeps the logbook and a signed agreement until the loan is repaid. Interest rates for this kind of loan are usually higher than those for a normal personal loan. We do not offer logbook loans.
Secured Homeowner Loans Unlike unsecured loans, secured homeowner loans can put your home at risk of repossession. Therefore, this kind of loan is not recommended if you are at all unsure about your ability to repay the sum you have borrowed. As a means of borrowing more money for improving your home or buying a new car, then a secured homeowner loan can be a good option but it is important to never put your home at risk for the sake of an expensive foreign holiday or to supplement your day to day lifestyle. We do not offer secured homeowner loans.
Personal Loans for the Unemployed While it may prove more difficult to get a personal loan when you are unemployed, it is not impossible. Again, there are specialist lenders who will look at your personal circumstances. Lenders will take into account long term benefits and the regular bills that you have to pay. Seasonal workers who can show that they are only temporarily unemployed will also have a good chance of getting a loan. Apply now

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Getting a personal bank loan

Personal bank loans are a loan that banks provide, which is not secured against any asset such as your home. They are also called unsecured loans. To help you to find the best personal loan, we’ve put together a comparison table with the top 10 banks for personal loans. Here you will be able to compare the different personal loans available for your needs.

Personal Bank Loan

Product they provide

Lloyds bank personal loan

Lloys Bank offer personal loans of £1,000 to £50,000, repayable over 1 to 5 years. Lloyds Bank personal loans
are limited to consumers who have a current account in their bank for at least one month. The amount
you can borrow from Lloyds and the rate available are based on an assessment of your circumstances. You
can find a Lloyds Bank personal loan calculator on their site.*

*Source: lloydsbank.com

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Yorkshire bank personal loan

With Yorkshire Bank you can borrow between £1,000 to £35,000 and choose a repayment period from to 1 to 5
years. (For a loan amount of £7,500 +, loans may be given over terms of 6 or 7 years.) You can repay
your loan at any time for a total charge, but early repayment charges apply. A Yorkshire Bank personal
loan review will help you to know if it is a suitable loan for you.*

*Source: yb online .co .uk

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Bank of scotland personal loan

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Bank of Scotland customers can get a loan from £1,000 to £50,000 with fixed repayments of 1 to 7 years. The
rate available and the amount that they lend are dependent on the customer’s circumstance. Their ‘online
exclusive loan’, and ‘flexible loan’ are exclusive to Bank of Scotland customers.*

*Source: bank of scotland. co. uk

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Clydesdale bank personal loans

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Clydesdale Bank offers personal loans of £1,000 to £35,000 to new and existing Clydesdale Bank customers
with a repayment period from 1 to 5 years. (Loans of £7,500 may be taken for a term of 6 or 7 years).
You can repay your loan early but an early repayment charge applies. Clydesdale bank personal loan rates
depend on the loan amount borrowed & individual circumstances. You can find a Clydesdale Bank personal
loan calculator on their site, and Clydesdale Bank personal loan reviews are available.

*Source: cb online .co .uk

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Tesco bank personal loan

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Tesco Bank provides personal loans from £10,000 to £25,000 for 1 – 7 years. Up to 10 year loans are also
available, although the maximum repayment period might be lower for certain loan purposes. Eligible customers
may be able to apply for a payment break of two months. The interest rate on Tesco Bank personal loans
may be higher depending on your individual circumstances.*

*Source: tescobank.com

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Ulster bank personal loan

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With Ulster Bank, you can borrow a personal loan of £1,000-£7,499 to repay over 1 to 5 years or £7,500-£35,000
to repay over 1 to 8 years. Home improvement loans of £7,500 or more can be repaid over 1 to 10 years.
The Ulster Bank personal loan terms and conditions state that the rate you pay on their loan depends
on your circumstances. There is an Ulster Bank personal loan calculator to help you work out if you can
afford to take a loan with them.*

*Source: digital .ulsterbank .co .uk

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Barclays bank personal loan

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Barclays Bank provides personal loans of £7,500 – £15,000, which are repayable over 2-5 years. All Barclays
Bank personal loan rates are subject to status, and early settlement fees apply. A Barclays Bank personal
loan calculator is available on their site.*

*Source: barclays .co .uk

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Sainsburys bank personal loan

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Sainsbury’s Bank offers personal loans of £1,000 to £40,000, which are repayable over 1 to 7 years. The APR
on a Sainsbury’s Bank personal loan is determined by the details you supply and the loan you are applying
for, in addition to an independent verification of your credit and repayment history. You may be able
to apply for a two month repayment holiday at the start of your loan. Sainsburys Bank personal loan calculator
will show you if you can afford to take a loan with them.*

*Source: sainsburys bank. co. uk

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Danske bank personal loan

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Danske Bank personal loans are available for new and existing and customers. You can borrow a Danske Bank
personal loan of any amount from £1,000 to £25,000 with a repayment period of 1 to 5 years. Danske Bank
repayments will remain the same even if interest rates rise or fall. There is a Danske Bank personal
loan calculator on their site.*

*Source: danske bank. co. uk

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Metro bank personal loan

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You can apply to borrow a Metro Bank personal loan of between £2,000 and £25,000. Repayments are made monthly
over 1 to 5 years. To obtain a Metro Bank personal loan, you will need to have a Metro Bank current account.
Loan eligibility is subject to your personal circumstances.*

*Source: metro bank online. co. uk

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Private personal loan lenders

In addition to bank personal loans, there are many private lenders for personal loans too. Private money
lenders for personal loans generally offer a similar service, yet there will always be specific conditions
pertaining to each loan. For example, if you are searching for private lenders for personal loans bad
credit, you will have to find a lender that will suit your needs. If you seek a private personal loan
lenders without credit checks, it is important to remember that according to UK law every lender must
perform a credit check prior to approving a loan. Getting such a loan would therefore be forbidden in
the UK.

Personal Loans from a Private lender

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Apply Safely for a Personal Loan

Reputable And Responsible Lenders

It’s not that easy to get personal loans with bad credit. The best option for anyone who wants quick bad credit personal loans is to approach one of the reputable and responsible lenders. Borrowing money is a serious business. Both the applicant and the lender have certain responsibilities. The lender has a duty to ensure that an applicant does not take on more debt than they can afford. This can result in them refusing an application. The applicant has the same responsibility and should not try to borrow to the limits of what is affordable. It is a fact that personal debt has risen exponentially since the turn of the century. Many people in the UK have vast sums owing that they are going to be unable to pay back. By concentrating your borrowing on only essentials you can avoid the trap of debt.

Flexible Personal Loan Lenders

If you already have a personal loan but are not happy with the interest rate or terms you can look at other online flexible personal loan lenders and try to rectify the situation. Check whether your loan agreement has early repayment penalties. If not, then shop around for a better deal. The competition among lenders is high so with a good credit history you can probably get a better deal. Flexible personal loans are available with less restrictions and you might get a lower interest rate as well.

Looking for a better personal loan deal?

Personal Loans Now is determined to do our best in finding you the best rates in the UK.

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Important Facts about Personal Loans

  1. Making regular payments for a personal loan is essential. If you find that circumstances have improved, then you can make over payments to get rid of the debt at an earlier stage. Many of the personal loans lenders on panel allow people to pay back early

  2. You should always check that you are being offered the low interest rate that has been advertised. This headline rate is the representative rate. Lenders only have to offer this to 51% of applicants. Therefore, it is vital to keep an eye on the APR.

  3. Make sure than the rate is fixed and that the loan not a variable interest rate product. No matter how carefully you have budgeted for the repayments, if the rate rises, then you may find that the monthly repayments are not affordable. Other costs to look out for when applying for easy personal loans are application fees, arrangement fees, and the default fee.

Getting personal loans with Personalloansnow.co.uk

If you are eligible for a loan, we can try to find it for you. Our introductory service is free, we never charge an application fee. We’re proud to work with an FCA-authorised credit broker, Quint Group Limited, who is connected with many UK direct lenders, so we can help you find the best credit option for your situation. We look forward to helping you get a low interest personal loan today.

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