A personal loan lets you borrow money to pay for something special, like a holiday, car or home renovations. You have to repay it with interest over a fixed term, usually between one and seven years.
Getting the best deal on a personal loan can save you thousands in interest and fees. Most people shop around before they pick a holiday or buy a car. Shopping around for the right loan can save you thousands in interest and fees.
Fixed or variable interest rate
With a fixed interest rate, your repayments are fixed and won't change over the loan term. You'll know exactly how much will come out of your bank account each month.
With a variable interest rate, your repayments will change if interest rates change. If interest rates rise, your repayments will be higher. If interest rates fall, your repayments will go down.
A loan with a variable interest rate usually has no early exit fee, this might be better if you're planning to pay the loan back early.
if you are not sure what is best for you, we can help.