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Compare Personal Loan Rates: Best Cheap Loans 2018

£300 loan - Competitor comparison rates taken directly from price comparison websites on 5th June 2018.

Total amount repayable Repayment term Saving
£483.60 4 Months £33.60
£528.00 5 Months £48.00
£568.80 6 Months £43.80
Total amount repayable Repayment term Saving
£478.00 4 Months £28.00
£522.50 5 Months £42.50
£567.00 6 Months £42.00
Total amount repayable Repayment term Saving
£502.12 4 Months £37.90
£549.88 5 Months £53.46
£592.14 6 Months £50.98
Company Logo

Total amount repayable

Repayment term

£483.60

4 Months

£528.00

5 Months

£568.80

6 Months

Company Logo

Total amount repayable

Repayment term

£478.00

4 Months

£522.50

5 Months

£567.00

6 Months

Company Logo

Total amount repayable

Repayment term

£502.12

4 Months

£549.88

5 Months

£592.14

6 Months

Company Logo

Total amount repayable

Repayment term

£450.00

4 Months

£480.00

5 Months

£525.00

6 Months

Average Saving

£36.42

£57.87

£49.29

Why we can offer the lowest rates

As you’ve already seen, we offer the cheapest loan interest rates in the UK for small personal loans of up to £500 in comparison to the rest of the market. Our costs are lower than our competitors, period because we believe credit should be supplied at the lowest possible rates.

We don’t work with any brokers, and as a direct lender, this enables us to pass these cost savings onto our customers.

Our different repayment periods help you to find an affordable loan. Try our loan calculator to see how much you could borrow.

There are zero hidden fees in any of our loans – we guarantee that you only pay back the amount you have agreed to upfront. The majority of our decisions are made by people and not computers. We believe it’s important for people to know who they are dealing with and have a point of contact should they have any questions or queries.

See more in our Frequently Asked Questions.

The best deals on small, cheap personal loans

We like to do things differently. Our loans provide you with a quick, short-term personal loan at an affordable rate of interest. We like to think of these as the best loans for those who need a fixed amount of cash, without having to borrow more than they need or pay back levels of interest that aren’t realistically affordable. Our loan calculator works out all of this for you automatically.

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How to compare small loan deals

Many of us find ourselves in need of a loan at some time in our lives. Naturally, the cheaper the loan, the better. But before you apply, it’s important to know the benefits and drawbacks, as well as how to get the cheapest interest rates on the market.

When you find yourself in need of some extra cash, applying for a loan may feel like something of a minefield. There are lots to choose from – all with terms that can be difficult to understand.

When you compare with Zippa Loans, you can review everything in one place to find the cheapest personal loan that’s right for you. Guaranteed. When you compare small loans, the most important thing is to make sure you can afford the repayments. If you get behind on your repayments or cannot afford to make them, you may be charged extra and find yourself deeper in debt.

How personal loans work

A personal loan is a type of unsecured loan, meaning the funds are not secured against collateral – such as your home – or a down payment/guarantor of any kind. It’s the ideal option for people who want to borrow money and then pay back a fixed fee (plus interest) per month. With a personal loan, you’re able to borrow more than you can with a credit card, and you also get to choose the time period in which you pay it off. Some people choose to consolidate their debts by taking out a personal loan and paying it off over the following months and years.

After you receive a new personal loan, you have 14 days to change your mind and repay the loan in full. Bear in mind that if you have a bad credit rating, it’s still possible to be accepted for a small loan, but you may find that you pay a higher rate of interest.

How personal loan interest is calculated

At Zippa Loans, we calculate interest rates based on how much you borrow, and how quickly you intend to pay it back. When you take out a personal loan, you essentially agree to pay the money back over time, along with a flat percentage pertaining to the figure borrowed.

UK banks, credit unions, and online lenders all offer competitive rates, but the way to check the lowest is by using an interest rate calculator. You can also work out how much you’re paying by dividing your interest rate by the number of payments you’ll make in the year, then multiplying this figure by the balance of your loan.

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Finding low interest rate personal loans

Naturally, the interest rates you can expect to pay on cheap personal loans vary, but generally speaking, the more you borrow, the lower the rate.Of course, everyone wants to find the best personal loan at the cheapest possible price, but it’s important to remember that in the world of finance, there’s no such thing as ‘one size fits all’.

Online lenders like Zippa Loans provide some of the cheapest loan interest rates around – use our calculator to see how we compare. We aim to give approval within two hours of receiving an application.

Personal loans for bad credit

Perhaps you’re worried about applying for a small loan because you have poor credit or are unemployed? Did you know that borrowers with bad credit can use personal loans as a viable alternative to credit cards or payday loans? Not only do they offer more manageable repayments, they also come with lower interest rates – though you may find that your interest rate increases slightly to reflect your bad credit score.

Whatever your circumstances, Zippa Loans aims to help people from the UK compare and access quick unsecured personal loans to meet your needs. Our application process is quick, easy and reviewed by real people – not robots – who will look at the bigger picture.

To find out how much you could borrow and how much you will have to pay back, try our loan calculator.

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Loan comparison FAQs

Can personal loans be used for anything?

You can use a personal loan for almost anything you like, and they don’t require you to submit any kind of collateral, such as your home or car. Credit cards, signature bank loans, and loans from online lenders all come under the umbrella of a personal loan.

What helps you compare loans?

You can compare all of the latest and best deals on personal loans with Zippa Loans. We’ll help you find the best unsecured loan deals available through our service, according to your needs.

Can personal loans be used for business?

It’s worth bearing in mind that unlike traditional UK banks, most online lenders won’t deny you a business loan if collateral is the only thing stopping you. A personal loan requires no collateral and theoretically you can use it to fund your business, however, you shouldn’t lie to the lender about its intended purpose.

Do personal loans affect credit score?

Any form of credit will have an impact on your credit score however taking out a small personal loan and paying it back as agreed is a good way to improve your credit score as other lenders will see you are sticking to your agreement

Should I consolidate my personal loans?

It’s possible to consolidate your debts using an unsecured personal loan, but you’ll need a good credit rating if you hope to get the best deals. Debt consolidation loans allow you to merge your loans into one, so you only have to make one regular payment. However, they are only worth considering if they cost you less in comparison to your current borrowing arrangements, so be sure to check.

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