Types of Loans
A rundown on the most popular types of loans available, along with explanations of the various different rates of interest
Published in Loans
Guide to Savings Accounts
A list of the most popular types of savings accounts, their pros and cons, and where to get them
Published in Loans
Reports and Credit Ratings
Where to get them, and how to improve your rating and increase your borrowing flexibility
Published in Loans
Credit options are available to consumers
There are a number of options for deals securing credit at the moment and consumers worried about their finances due to the credit crunch could consider these, an expert has said.
Published in Loans
Banks 'will not stop lending'
Banks are not going to stop lending because of the credit crunch, as they need to lend funds in order to make money, an expert has asserted.
Published in Loans
Lending criteria 'tightening'
There is a tightening of all types of lending at the moment, as finance providers work to ensure that bad debt does not get any worse than it is at the moment, an expert has said.
Published in Loans
'Seek help' for financial problems
People that are facing financial difficulties should not hide their problems or believe that they can solve them on their own, an expert has argued.
Published in Loans
Students 'may turn to loans for studies'
An increasing number of students may be forced to turn to hardship loans or part-time jobs due to the effects of the credit crunch on their parents, it has been claimed.
Published in Loans
Loans
You only get one chance to choose your loan provider, and CompareNow makes the process quick and painless. Fill in the form and click "Compare Now" to view rates from the leading lenders. Click on column headings in the comparison table to re-order results for your requirements. Once you've found a lender click "Get Quote" for the cheapest loan around.
| Product | Typical APR | Loan Amount | Loan Period | Total Payments | Monthly Payments | Get a Quote | |
|---|---|---|---|---|---|---|---|
 |
Sainsbury's Bank - Details » Sainsbury's Personal loans from £7,000 to £25,000 with a repayment period that suits you, from 1 to 7 years. You will have fixed repayments for the whole period of your loan with an instant decision and money in your bank in 24 hours. |
7.3% | £10,000 (example only) |
48 months | £11,561 | £240.86 | |
 |
Tesco - Details » Tesco has options to borrow from £3,000 up to £25,000 and choose your own repayment term with no set up fees and a variable repayment day. You can also take a two month Payment Holiday at the start of your loan and take out Payment Protection Insurance to cover you in case you are unable to work due to illness, accident, unemployment or death. |
6.8% | £10,000 (example only) |
48 months | £11,450 | £238.54 | |
 |
Alliance & Leicester - Details » Alliance and Leicester offer Personal Loans with a typical APR of 8.7% for loans £7,500 up to £15,000. You can choose to top up an existing loan or invest in payment protection for your loan. An online application takes around 10 minutes and you could have a decision within the hour. |
8.7% | £10,000 (example only) |
48 months | £11,877 | £247.43 | |
 |
Yes Loans - Details » Yes Loans Unsecured Loan will not use your property as a guarantee and are the best option for homeowners not wanting to put their property at risk. Loans from £500 to £25,000. |
48% | £10,000 (example only) |
48 months | £22,647 | £471.81 | |
 |
Nemo Personal Finance - Details » Nemo Personal Finance offer secured loans for most purposes with a loan repayment period of 5 to 25 years on loans from £10,000 to £100,000 and a typical APR of 9.7% |
9.7% | £10,000 (example only) |
48 months | £12,105 | £252.19 | |
 |
The AA - Details » The AA offer a Personal Loan with a low rate of 8.5% APR when you borrow between £7,000 to £25,000, with fixed monthly repayments between 2 and 7 years. You can enjoy a 3-month repayment holiday before your first payment and a secure online application with a decision in minutes. If the loan is to purchase a car The AA will provide a 6-month free AA Car Warranty. |
8.5% | £10,000 (example only) |
48 months | £11,831 | £246.48 |
* These are just an example of repayments based on the typical APR provided by the loan company. Actual APR and loan payments will depend on your circumstances.
Everyone has a different reason for taking out a loan, whether it is to pay for home improvements, cover for a holiday, or to consolidate existing debts. Generally, there are two main types of loans available to customers, unsecured personal loans and secured loans. Unsecured loans are called as such as they are 'unsecured' against any kind of collateral, i.e. a house or property, that the lender can use as insurance in the event that you may not be able to pay them back - thus an unsecured personal loan suffers from a rate of interest higher than that of a loan which is secured. A secured loan, by contrast, is any type of loan that is secured using any property owned by the client, usually the house they live in. As secured loans are low-risk investments from the lenders' point of view, secured loan customers benefit from lower rates of interest than those available on an unsecured loan.
Loans can be tailored to suit each individual's needs and circumstances. Home Improvement loans typically allow you to borrow an amount around or in excess of your property value and arrange for manageable monthly repayments. Graduate loans are designed specifically for those who have recently finished a degree and are in the first few months of work, and allow postgraduates to enjoy a slightly lower rate of interest than those found on typical unsecured loans.
Also popular are consolidation loans - a single loan used to pay off multiple smaller debts, bringing any outstanding balances under a single repayment scheme - all debts are made payable to one lender with one interest rate.
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