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Updated: 3 Apr 2023

Best personal loan deals

Find the cheapest unsecured personal loans for £5,000, £10,000 and £15,000

Grace Witherden

In this article

£5,000 loans over three years
£10,000 loans over five years
£15,000 loans over five years
How we choose best rate personal loans
Get top money-saving tips from Which?

If you want to borrow a lump sum, an unsecured personal loan might be a suitable option.

A loan will usually be cheaper than a credit card, as the interest rates charged tend to be lower. You'll also have the reassurance of knowing exactly how much your repayments will be each month.

This guide is updated monthly with the best rates on £5,000, £10,000 and £15,000 loans. For more general advice, see our guide on how personal loans work.

Compare loans

Find the right personal loan using the service provided by Experian.

Check eligibility

Which? has partnered with Experian to help you compare loan deals from brands on its panel of lenders.

When you enter your details, The results you're offered may differ from those featured in our guides, as not all providers and products are available through Experian.

In addition, your results will be based on the information you provide to Experian and its own eligibility calculations, so may not include every available deal.

£5,000 loans over three years

The table below shows the best deals available for a £5,000 loan paid back over three years.

Provider	APR %	Monthly £	Total payable	Risk-based pricing*	Early repayment charge**
Sainsbury's Bank	6.1%. Representative Example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 6.1%% APR representative.	£151.96	£5,470.56	Yes	Yes
Novuna Personal Finance	6.2%. Representative Example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 6.2% APR representative.	£152.20	£5,479.20	Yes	No
Tesco Bank	6.3%. Representative Example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 6.3% APR representative.	£152.39	£5,486.04	Yes	Yes
Post Office Money	6.3%. Representative Example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 6.3% APR representative.	£152.39	£5,486.16	Yes	Yes

*If a lender uses risk-based pricing, you may be offered a loan at a higher interest rate than the ones listed, depending on your credit history.
**Whether you'll have to pay if you want to repay the loan early.

Table last updated 30 March 2023.

£10,000 loans over five years

The table below shows the best deals for personal loans of £10,000 paid back over five years.

Provider	AER %	Monthly £	Total payable	Risk-based pricing*	Early repayment charge**
Sainsbury's Bank	4.8%. Representative Example: The table shows the monthly repayment and total cost of a £10,000 loan at a fixed rate of 4.8% APR representative.	£187.33	£11,239.80	Yes	Yes
Tesco Bank	4.9%. Representative Example: The table shows the monthly repayment and total cost of a £10,000 loan at a fixed rate of 4.9% APR representative.	£187.76	£11,265.60	Yes	Yes
M&S Bank	4.9%. Representative Example: The table shows the monthly repayment and total cost of a £10,000 loan at a fixed rate of 4.9% APR representative.	£187.77	£11,266.20	Yes	Yes
Post Office Money	5%. Representative Example: The table shows the monthly repayment and total cost of a £10,000 loan at a fixed rate of 5.0% APR representative.	£188.20	£11,292.24	Yes	Yes

Table last updated 30 March 2023.

£15,000 loans over five years

The table below shows the best deals for personal loans of £15,000, paid back over five years.

Provider	AER %	Monthly £	Total payable	Risk-based pricing*	Early repayment charge**
Sainsbury's Bank	4.8%. Representative Example: The table shows the monthly repayment and total cost of a £15,000 loan at a fixed rate of 4.8% APR representative.	£280.99	£16859.40	Yes	Yes
Tesco Bank	4.9%. Representative Example: The table shows the monthly repayment and total cost of a £15,000 loan at a fixed rate of 4.9% APR representative.	£281.65	£16,899.00	Yes	Yes
M&S Bank	4.9%. Representative Example: The table shows the monthly repayment and total cost of a £15,000 loan at a fixed rate of 4.9% APR representative.	£281.65	£16,899.00	Yes	Yes
Post Office Money	5.0%. Representative Example: The table shows the monthly repayment and total cost of a £15,000 loan at a fixed rate of 5.0% APR representative.	£282.31	£16,938.36	Yes	Yes

Table last updated 30 March 2023.

How we choose best rate personal loans

All the loan providers listed by Which? are signed up to the Lending Code, which sets the minimum standards for the way banks, building societies and other providers should treat their customers.

These loans are widely available across the UK, and consumers do not need to own any other financial products from an institution in order to qualify for them.

Lots of loan providers use risk-based pricing to determine what interest rates their customers get.

This means you might not end up with the same rate as the one you saw advertised, as the rate you get is based on your credit score.

If you want to know what personal loan rate you'll get when you apply, go for a loan that doesn't use risk-based pricing.

If you think there's a chance you might be able to repay your loan early, look for a loan without any early repayment charges.

You can find out more in our guide to personal loans.