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Personal Loans - The More You Borrow, The Less You Pay The average rate on a personal loan up to the value of £3,000 is currently 19.3% while people applying for a loan between £7,000 and £10,000 will find an average typical rate of 10.3%.
LOANS ARE FOR LIFE NOT JUST FOR CHRISTMAS No other month of the year demands quite such a spending splurge and it’s more than likely that come Christmas Day our bank balances will be teetering on the edge of their overdrafts.
If you are looking to borrow, a low interest loan seems the obvious choice to manage your debt and keep monthly repayments down to a minimum. So whether you want to take out a personal loan for a holiday or need to borrow a bigger sum through a secured loan, we can guide you through the process quickly and with the minimum of fuss.
With loan rates varying from 4.5% to 40%+, comparing loans can save you a considerable amount of money. To save even more, look at repaying your loan in the shortest time possible. The shorter the loan term, the less interest you will pay. Be careful though to check that there are no penalties for early repayment - sometimes you have to pay an additional 2 months interest if you pay off the amount due ahead of time.
Compare personal loans with MoneyExpert.com's free and impartial search of the personal loans markets to find the best low interest loans that will precisely match your loan requirements. We update our data every day, so you know you are finding the very latest and cheapest loans.
If you are a homeowner you could consider a secured loan. These allow you to borrow larger sums with a longer repayment term than personal loans at competitive interest rates. Secured loans are also available for people who have had problems with credit in the past as the security means they can be less concerned about your credit history. However it is always important to remember that a secured loan will use your home as security. If you default on the loan, you could lose your home so this needs to be taken into consideration.
No - there are other charges to watch out for once you have found the best low interest loans. These include:
You also need to be aware that you may not be eligible for the loan's typical Annual Percentage Rate (APR) of interest. A lender will calculate the typical APR in conjunction with a system known as 'risk based pricing'. This means that they assess each individual's circumstances and credit history before deciding what rate to offer. Although a lender has to offer the typical rate to 66% of people that apply for the loan, it is possible that you won't get this rate. If this is the case, you may want to do another comparison to ensure that you are getting the cheapest loan available.
Researching the loans market and comparing every loan available in the best way - but who has time for this?
With the MoneyExpert.com's loans comparison service we'll do all the hard work for you. Just enter some details about the type of low interest loan you want, how much you need to borrow and how long for, and you'll be given a list of lenders available to you. For a secured loan comparison more details will be required to provide a more accurate options and often this will require us to talk to you by phone. You'll also get all the information you need - including interest rates, hidden charges, service ratings and terms and conditions. MoneyExpert.com's loans comparison service is free, impartial and only takes a few minutes to use.
Find the best low interest personal or secured loan for you