Compare Fixed rate Personal loans quotes (UK)

Cut through the noise and find a fair fixed rate

Look, nobody wants to overpay for a loan. This guide shows you how to compare fixed rate personal loan quotes in the UK, what a good APR looks like right now, and how to boost your chances of approval without denting your credit score.

Quick tip: check your eligibility with a soft search before you apply.

Who should read this

If you live in the UK and plan to borrow for a car, home upgrade, wedding, or to tidy up pricier debt, this is for you. You want a predictable monthly repayment, plain English, and no faff. Whether your credit is spotless or a bit patchy, you will find practical steps to get a fair deal.

The basics in simple terms

• APR: The annual percentage rate that shows the overall cost of borrowing, including interest and most fees. The representative APR is the rate at least 51% of accepted applicants will get. Others may pay more based on credit checks and affordability.
• Fixed rate: Your interest and monthly repayment stay the same for the full term. Easier for budgeting than variable rates, which can move up or down.
• Unsecured loan: No collateral needed. Approval hinges on credit history, income, and affordability, not assets.
• Loan term: Usually 1 to 7 years. Longer terms lower your monthly payment but increase total interest paid.
• Eligibility checker: A soft-search tool many lenders and comparison sites offer. It shows your chances of approval and likely rates without affecting your credit score.
• Total amount repayable: The grand total you will pay back by the end of the loan, including interest. Always compare this, not just the monthly figure.
• Rate ranges today: For mid-sized loans around £7,500 to £25,000, competitive representative APRs cluster around 5.8% to 5.9%. Smaller loans under £5,000 often cost more, with representative APRs commonly 13.9% and sometimes up to 29.9%, depending on credit.

Short standout line: Fixed rates mean calm, steady budgeting.

Your choices at a glance

For most UK borrowers, fixed rate unsecured personal loans are the norm. You can compare offers from banks, building societies, and specialist lenders via trusted comparison sites. Here is how options typically stack up right now:

What influences your rate:

• Your credit profile and history
• Income and regular outgoings
• Loan amount and term
• Lender criteria and current market conditions

Where to compare:

• Compare the Market, Moneyfacts, and Which? let you check rates, filter by amount and term, and often run soft searches so you can see likely offers without harming your credit.

Pounds and pence: what it could cost

• For £7,500 to £25,000 loans, the best representative rates currently cluster around 5.8% to 5.9% from leading high street names. Example: £10,000 at 5.9% APR over 5 years is about £192 per month and roughly £11,529 in total repayable.
• Larger borrowing can sit nearer 7.9% representative APR, especially beyond £35,000, increasing total interest paid.
• Smaller loans usually cost more. A £3,000 loan might advertise around 13.9% representative APR, with some lenders pricing up to 29.9% for riskier profiles.

Risks to watch:

• Longer terms reduce monthly payments but increase the total interest. Example: a £25,000 loan at around 5.8% over 5 years totals about £28,756.
• Only 51% of accepted applicants get the representative rate. If your credit is weaker, expect a higher APR.
• Early repayment fees may apply. Some lenders charge up to one or two months’ interest if you clear the balance early.

Can I get it: what lenders look for

Lenders assess your ability to repay comfortably without strain. Expect them to check:

• Your credit file: payment history, balances, and any missed or late payments
• Affordability: income after regular expenses, dependants, rent or mortgage
• Stability: time at address and with current employer
• Debt-to-income: your total committed monthly debt payments vs income

Smart moves before you apply:

• Use eligibility checkers with soft searches to see likely acceptance and rates
• Reduce credit card balances to lower utilisation
• Register on the electoral roll and correct any credit file errors
• Avoid multiple hard searches in a short span

Remember: unsecured loans typically do not require collateral, but that convenience is priced into the APR.

From search to cash: the simple plan

1. Decide the smallest amount you actually need.
2. Pick a term balancing payment size and total cost.
3. Run soft-search eligibility checks on comparison sites.
4. Compare APRs, fees, and total repayable, not just monthly.
5. Shortlist 2 to 3 top offers you are likely to get.
6. Apply directly online and upload documents promptly.
7. Read the agreement carefully before you e-sign.
8. Set up a direct debit and budget for on-time payments.

The upsides and the trade-offs

Pros:

• Fixed rate certainty for clean budgeting
• Competitive APRs around 5.8% to 5.9% for £7,500 to £25,000
• No collateral needed and fast online decisions
• Soft-search tools help protect your credit score

Cons:

• Smaller loans often carry higher APRs
• Longer terms mean more interest overall
• Representative APR not guaranteed for everyone
• Early settlement charges may reduce savings if you repay early

Before you sign on the dotted line

• Check the total repayable and any fees. If you plan to repay early, ask about early settlement costs.
• Try different terms. A shorter term can save interest if the monthly payment remains affordable.
• If consolidating debt, close or reduce limits on old cards to avoid sliding back into borrowing.
• Keep a rainy-day buffer so repayments are comfortable even if bills rise.

Rule of thumb: borrow the least, for the shortest time you can afford.

If a personal loan is not the best fit

• 0% purchase credit cards: Good for smaller, planned buys if you can clear the balance within the promotional window.
• 0% balance transfer cards: Can cut interest on existing card debt. Watch fees and expiry dates.
• Credit unions: Often fair rates for smaller sums and supportive underwriting.
• Secured homeowner loans: Larger sums at potentially lower rates, but your property is at risk if you miss payments.
• Overdrafts and BNPL: Handy for cash flow but can be pricey or risky if not repaid quickly.

Common questions, straight answers

• What is a good APR right now? For £7,500 to £25,000, competitive representative APRs cluster around 5.8% to 5.9%, subject to eligibility and credit checks.

• Will applying hurt my credit score? Eligibility checks on comparison sites use soft searches and do not affect your score. A full application creates a hard search that can nudge your score temporarily.

• Why are small loans more expensive? Fixed costs and higher perceived risk mean sub-£5,000 loans often start around 13.9% and can reach 29.9% for weaker credit.

• Fixed or variable rate? Most UK personal loans are fixed, giving predictable repayments. Variable rates can change, which complicates budgeting.

• How quickly can I get the money? Many lenders give instant decisions and can fund within 1 to 2 working days once documents are approved.

• Can I repay early? Usually yes. Some lenders may charge up to one or two months’ interest. Ask for an early settlement figure before paying.

Ready to move? Here is your to-do list

• Use a reputable comparison site to run soft-search checks
• Shortlist the best APRs and total repayables you actually qualify for
• Pick the shortest term you can afford comfortably
• Apply once, carefully, with accurate documents

Standout line: the right rate is the one you can keep up with on your worst month, not your best.

Small print you should actually read

This guide is general information for UK consumers and is not financial advice. APRs, terms, and eligibility vary by lender and your circumstances. Always check current details on lender sites and consider seeking regulated advice if you are unsure.