first direct
Get a personal loan from first direct: 5.8% APR for £10,000-£30,000 over 1-8 years, flexible repayments and fast decisions. Ideal for UK borrowers looking for transparency.
If you need a flexible and straightforward loan option, the first direct Personal Loan could be an appealing choice for many UK residents. Offering a representative 5.8% APR for loans between £10,000 and £30,000, this product stands out for its competitive rate, transparent fixed repayments, and speedy approval process. Loans are available from £1,000 up to £50,000, repayable over periods ranging from one to eight years, giving you control over your borrowing.
How to Apply: Step by Step
- Check eligibility: Must be 18+, a UK resident, with at least £10,000 annual income and a first direct current account.
- Decide your amount and repayment period: Between £1,000 and £50,000, from 1 to 8 years.
- Complete the application via the app, online banking, or by phone.
- Receive a fast decision, and if approved, get funds paid quickly to your account.
Key Pros
First direct offers one of the lowest representative APRs in the UK market for personal loans, especially in the £10,000-£30,000 range. The application is easy and fast, with immediate decisions when you apply digitally and funds often available the same day. Fixed monthly repayments aid budgeting, and the option to overpay helps you save on interest.
Main Cons
To qualify for the best rates, you must already have a first direct current account, limiting accessibility for new customers. For loans above £30,000, you must have held the current account for more than six months, which may rule out some applicants. The exact APR you receive depends on personal circumstances and credit status, meaning some may face higher rates.
Verdict
The first direct Personal Loan is a strong choice for eligible customers seeking a low-cost, hassle-free borrowing experience in the UK, provided you already bank with first direct. Its transparency, quick funding and ability to tailor repayments make it ideal for a variety of personal finance needs. However, make sure you meet the account requirements and compare with other providers if you’re not eligible.