The cheapest personal loans right now

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You might need a personal loan for all sorts of things. Perhaps you want to buy a car or do up your home.

Whatever your needs, there are some great personal loan deals out there. You should always compare rates among lenders.

There are also some super deals available to existing customers of institutions so it’s worth checking with your own bank to see if it can best what’s out there.

For example, Sainsbury’s Bank has some excellent loan rates only available to Nectar Card holders.

The following list is the best rates available for each loan bracket excluding any existing customer deals.

Always remember that these rates are representative. The terms and conditions vary and what you can borrow will be determined by your own financial circumstances, such as your credit rating and income.

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£1,000

The lowest representative APR at the moment is with an RAC Personal Loan, which offers a rate of 9.9%.

£3,000

The Admiral Personal Loan is the cheapest around, offering a representative APR of 8.2%

£5,000

The Zopa Personal Loan is offering a representative APR of 3.3% on £5,000 right now.

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£10,000 to £15,000

The M&S Personal Loan has a 2.9% representative APR. So does the Tesco Bank Personal Loan and John Lewis Finance.

£20,000

The M&S Personal Loan and the Tesco Bank Personal Loan have a 2.9% representative APR.

£25,000

The Tesco Bank Personal Loan carries a 2.9% representative APR.

£30,000

At this loan size it is still the Tesco Bank Personal Loan that offers the best rate on the market, coming in at 6.6%.

DISCLAIMER: Yahoo Finance UK does not take into account your specific circumstances and the content of this article should not be acted on without full understanding of your own current situation and future goals and objectives.

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