MoneySuperMarket Personal Loan
Borrow from £3,000 to £20,000 with rates from 5.7% APR. Quick online application and monthly repayments. Get up to £20 reward with eligible loans.
MoneySuperMarket’s personal loan offer is notable for its competitive rates starting from 5.7% APR for loan amounts between £7,500 and £20,000, with flexible borrowing up to £50,000. Customers must be aged 18 or over and UK residents, and all applications use a soft eligibility check to avoid impacting your credit score. Attractive monthly repayment plans, loan lengths typically ranging from one to five years, and chances to earn SuperSaveClub rewards for eligible purchases make this an appealing option for many borrowers.
Step-by-Step Application Process
First, choose your desired loan amount and purpose (such as car, home improvement, or wedding). Provide your personal and financial details, including income, expenses, and employment status. Complete the soft eligibility check, which won’t affect your credit score. Once approved, you’ll review your terms and sign your agreement. The funds are generally transferred directly to your UK bank account within a few days, letting you access your loan quickly and easily.
Pros: Key Advantages
MoneySuperMarket personal loans offer quick decisions and funding, perfect for time-sensitive purchases or consolidating debts. The simple online process is convenient, and monthly repayments are fixed, helping you budget easily. Additionally, SuperSaveClub rewards of up to £20 for eligible loans add extra value to your application, turning your borrowing into a rewarding experience.
Cons: Considerations
The lowest advertised rates are only available to those with strong credit histories, and approval is not guaranteed. If you have poor credit, expect higher interest rates or perhaps limited access. Also, early repayment fees may apply if you decide to settle your loan before the agreed term, so review your terms carefully before deciding.
Verdict
MoneySuperMarket stands out for user-friendly applications, FCA-regulated providers, and meaningful incentives. While top rates are reserved for the most creditworthy borrowers, the eligibility checker and rewards make this loan product a strong contender for those seeking competitive UK personal loans.