Borrow What You Need, When You Need It

Find a Personal Loan That Fits Your Life

Looking to spread the cost of a big purchase, consolidate debt, or cover unexpected expenses? Personal loans give you access to a fixed amount of money, repaid in manageable monthly instalments. Compare multiple FCA-authorised lenders and check your eligibility with a soft credit search that won’t affect your credit score.

What Is a Personal Loan?

A personal loan is a way to borrow money as a lump sum and repay it in fixed monthly instalments over an agreed loan term, with interest added. People use personal loans for a wide range of reasons, often to spread the cost of expenses. Most personal loans are unsecured, meaning no asset is required as security. Options include small personal loans and short-term personal loans, with loan amounts, interest rates, and repayment terms depending on your credit score and personal circumstances.

What Can I Use a Personal Loan For?

A personal loan can be a simple, flexible way to access funds when you need them. Whether you’re planning a major purchase, consolidating existing debts, or managing unexpected expenses, a personal loan could help you take control of your finances. With fixed monthly repayments and transparent interest rates, it’s easier to plan your budget and stay on track. Personal loans are subject to status, so eligibility and rates may vary depending on your circumstances. Loans are subject to eligibility, and rates may vary depending on your circumstances. It’s important to borrow responsibly and you should only take out a loan you can afford to repay. Comparing multiple loan options can help you find the most suitable deal for your needs, so you can manage your money with confidence.

What Is a Loan?

A loan allows you to borrow a set amount of money and repay it monthly over an agreed period. You’ll pay back the amount you borrowed, plus interest, which is known as the cost of borrowing. Most loans are unsecured loans, which means that you don’t need any collateral, such as your home, car, or other assets. Loan rates and terms vary according to the specific type of loan you choose and your personal financial circumstances.

Can I Get a Loan?

Whether you can get a loan depends on a few key factors. Lenders will typically look at:
  • Your age and where you live - you’ll need to be at least 18 and a UK resident.
  • Your income and spending - to ensure monthly payments are affordable.
  • Your existing credit - to check how much debt you already have.
  • Your credit score - a stronger score may improve your chances of approval.

What Loan Rates Can I Get?

Loan interest rates can vary between lenders and the rate you’re offered will depend on your individual circumstances. Lenders typically consider factors such as your credit score, income, employment status, existing financial commitments, the amount you want to borrow, and the length of time you plan to repay the loan.

When comparing loans, you’ll often see a representative APR displayed. This is an example rate that lenders must show to give an indication of the cost of borrowing. However, the representative APR isn’t guaranteed and the rate you receive may be higher or lower depending on the lender’s assessment of your application.

Because lenders assess applications differently, the loan options and interest rates available to you may vary. Comparing loans and checking your eligibility can help you understand what offers may be available based on your circumstances.

Before taking out a loan, it’s important to review the total cost of borrowing, including interest and any fees, and make sure the monthly repayments are affordable for your budget.

Can I Get a Loan With Bad Credit?

Having bad credit doesn’t automatically rule you out from getting a loan, but it can limit the options available to you. Some lenders specialise in providing loans for people with poor credit histories or who do not have a guarantor. These loans may help borrowers who don’t have someone else to support their application, although they often come with higher interest rates or stricter repayment terms.

Your chances of approval will ultimately depend on your income, current borrowing, credit history, and the lender’s specific eligibility criteria. Each lender assesses applications differently, so comparing options and checking your eligibility can help you understand which loans you might be able to access.

With CreditKnowledge you can check your eligibility without impacting your credit score. This can give you a clearer picture of the loans you may be able to apply for, helping you make an informed decision.

If you are struggling with debt or financial difficulties, help is available. You can find free guidance and support from MoneyHelper or contact StepChange for advice and debt management support.

Even with bad credit, it’s important to review the total cost of borrowing and ensure that the repayments are affordable. Borrow responsibly and only apply for loans that suit your financial circumstances.

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Stay Safe from Financial Scams

Some scammers use well-known brands to trick people into giving money or personal financial information, often by offering fake loans with attractive interest rates. The most effective way to protect yourself is to report these scams.
  • If you suspect a fraudster has contacted you, stop all communication immediately and report it to Action Fraud.
  • If someone is pretending to be CreditKnowledge, get in touch with our customer services team.
  • Be cautious if you are asked to pay an upfront fee for a loan — this is almost always a scam.

For advice, you can also call Action Fraud on 0300 123 20240.

Please note that not all applicants will qualify for a loan. We provide a free loan comparison service and act as a credit broker, not a lender. We may receive commission or other fees from lenders if you take out a product through our service. Some lenders will only consider applicants who are UK homeowners, and not all lenders offer the full range of loan amounts or terms shown. If you consolidate your existing borrowing, you may be extending the term and increasing the total amount you repay.
You can check your eligibility with no impact to your score. Only once you decide to proceed with a specific finance option will a hard credit check be conducted, which may affect your credit score.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk