A guide to low interest loans

Let uSwitch.com forge a path for you through the jargon and small print of the UK loan market jungle. It’s easy when you know how.

Low interest loans

Find a loan

If you are looking to borrow money, a low interest loan seems the obvious choice to manage your debt and keep monthly repayments low. 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'll guide you through the process.

The Best Low Interest Loans from uSwitch

Loan amount

Loan term

Typical APR	Loan Amount and Duration	Monthly Repayments	Total Amount Repayable	Apply
7.2% APR	£10,000.00 60 months	£197.88	£11,873.02	Apply
7.7% APR	£10,000.00 60 months	£200.10	£12,005.93	Apply
7.8% APR	£10,000.00 60 months	£200.54	£12,032.55	Apply
7.8% APR	£10,000.00 60 months	£200.54	£12,032.55	Apply
8.9% APR	£10,000.00 60 months	£205.44	£12,326.22	Apply

Loans do not include Payment Protection Insurance (PPI) and assume you have no adverse credit. Loans are those you can apply for online via uSwitch.com.

How much can I save with a low interest loan?

With loan rates varying from the very low to the very high comparing loans can, depending on the amount and loan term, 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.

Compare low interest loans

How do I find a low interest personal loan?

uSwitch.com's personal loans comparison service carries out a free and impartial search of the personal loans markets to find the best low interest loans that will match your loan requirements. We update our data every day, so you know you are finding today’s cheapest loans.

What other low interest loans are available?

If you are a homeowner you could consider a secured loan. These enable 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. However it is always important to remember that a secured loan will use your property as security. If you default on the loan, you could lose your home.

Is every low interest loan the same?

No – there are other charges to watch out for once you have found a low interest loan. These include:

early repayment fees (also referred to as redemption fees)
administration charges for setting up the loan

You also need to be aware that you may not be eligible for the loan’s typical Annual Percentage Rate (APR) of interest; this is the low interest loan rate they advertise to attract customers. A lender will calculate the typical APR in conjunction with a system called risk based pricing. This means that they assess each individual's circumstances and credit history before deciding what rate to offer the individual. Although a lender has to offer the typical rate to 66% of people that successfully apply, it is possible that you won't get this rate.

How do I find the best low interest personal or secured loan for me?

Researching the loans market and comparing the loans available is the best way – but who has time for this?

With the uSwitch.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 set of results. You'll also get all the information you need – including interest rates, hidden charges, terms and conditions.