Compare £5,000 loans

You could get a £5000 loan from these lenders that offer unsecured personal loans, and choose a low APR to save money in interest.

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1

Check your eligibility

Answer a few quick questions. This will not impact your credit score.

2

Compare personalised loans

See the exact amount you’ll need to pay each month – no estimates.

3

Apply online

Complete your application on the lender website. You could get your money in hours.

See the interest rate you’re eligible for before you apply

With real interest rates you'll see exactly how much you’ll need to pay each month. And which lenders will pre-approve your application before you apply.

10 results found, sorted by lowest representative apr. Find out more about how our calculator works and how we order our comparisons.
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£
years
Hitachi Personal Loan (Direct)
Loan amount
£1,000 to £25,000
Representative APR
3.4% APR
Loan term
2 years to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 3.4% per annum would result in a representative rate of 3.4% APR, monthly repayments of £90.62 false and a total amount repayable of £5,437.20.
Eligibility
Credit rating acceptedgood
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Managed over phone
Maximum AgeUnlimited
Minimum Age21 years
Online decision
UK Resident
Lending Works Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
9.7% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 9.7% per annum would result in a representative rate of 9.7% APR, monthly repayments of £104.46 plus an arrangement fee of £250.00, and a total amount repayable of £6,517.60.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age21 years
Minimum income£14,000
UK Resident
Zopa Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
15.4% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 15.4% per annum would result in a representative rate of 15.4% APR, monthly repayments of £117.40 false and a total amount repayable of £7,044.00.
Eligibility
Credit rating acceptedgood
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Minimum Age20 years
Minimum income£12,000
Online decision
Social lending
UK Resident
BetterBorrow Personal Loan
Loan amount
£1,000 to £12,000
Representative APR
18.7% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 18.7% per annum would result in a representative rate of 18.7% APR, monthly repayments of £124.98 false and a total amount repayable of £7,498.80.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age18 years
Minimum income£12,000
Online decision
UK Resident
LiveLend Reward Loan
Loan amount
£1,000 to £12,000
Representative APR
21.4% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 21.4% per annum would result in a representative rate of 21.4% APR, monthly repayments of £131.22 false and a total amount repayable of £7,873.20.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age18 years
Minimum income£12,000
Online decision
UK Resident
Koyo Personal Loan
Loan amount
£1,500 to £12,000
Representative APR
22.9% APR
Loan term
6 months to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 22.9% per annum would result in a representative rate of 22.9% APR, monthly repayments of £134.70 false and a total amount repayable of £8,082.00.
Eligibility
Credit rating acceptedfair
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age18 years
Online decision
UK Resident
My Community Finance Personal Loan
Loan amount
£1,500 to £25,000
Representative APR
23.9% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 23.9% per annum would result in a representative rate of 23.9% APR, monthly repayments of £137.02 false and a total amount repayable of £8,221.20.
Eligibility
Credit rating acceptedpoor
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Minimum Age21 years
Online decision
UK Resident
Oplo Personal Loan
Loan amount
£2,000 to £15,000
Representative APR
26.9% APR
Loan term
2 years to 6 years
You must be a homeowner to apply for this loan.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 26.9% per annum would result in a representative rate of 26.9% APR, monthly repayments of £144.02 plus an arrangement fee of £395.00, and a total amount repayable of £9,036.20.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Homeowner only
Managed online
Minimum Age21 years
Online decision
UK Resident
Bamboo Personal Loan
Loan amount
£1,000 to £8,000
Representative APR
59.7% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 59.7% per annum would result in a representative rate of 59.7% APR, monthly repayments of £220.10 false and a total amount repayable of £13,206.00.
Eligibility
Credit rating acceptedpoor
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Managed over phone
Minimum Age18 years
Online decision
UK Resident
Everydayloans Personal Loan
Loan amount
£1,000 to £15,000
Representative APR
99.9% APR
Loan term
2 years to 5 years
No effect on your credit rating on initial application. No fees or charges. T&Cs apply.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 99.9% per annum would result in a representative rate of 99.9% APR, monthly repayments of £306.70 false and a total amount repayable of £18,402.00.
Eligibility
Credit rating acceptedpoor
Debt consolidation
Guarantor requiredfalse
Joint loan
Managed in branch
Managed online
Minimum Age21 years
Minimum income£15,000
Online decision
UK Resident

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Last updated: 15 September, 2020

Is a £5,000 loan right for you?

Borrowing £5,000 is something many people may need to do at some point in their lives. It could be to consolidate debt, purchase a car, go on a honeymoon, or to make repairs around the house.

There are many reasons for which you may need a £5,000 loan and there's nothing wrong with it as long as you have a clear plan on how you're going to pay it back.

But before you borrow £5,000 you also need to know the cheapest way to borrow. You'll have to decided whether you use a credit card, or take out a loan.

At £5,000, you're probably at the maximum threshold for using a credit card to borrow. Credit cards have much higher interest rates compared to loans and are meant for short term borrowing. This is why a £5,000 loan may be a better option.

How long should you take to repay your £5,000 loan

A £5000 loan, UK wide, can last between one and seven years, but some lenders do offer shorter terms of just six months, or longer loans up to 10 years.

With personal loans, the longer the term your loan, the smaller your monthly repayments will be. However, the longer you take to repay your loan the more you'll end up paying in interest over all.

For example, let's say you borrow £5,000 at 8% APR ...

  • If you repay the loan over 3 years: your monthly repayment will be £156.04 and you'll pay £617.44 in interest over all.

  • If you repay the loan over 5 years: your monthly repayment will be £100.72 and you'll pay £1,043.20 in interest over all.

To avoid burdening yourself, it's better to make sure you choose the shortest loan term that results in repayments you can afford on a monthly basis for the duration of the loan.

How to get the right £5,000 loan for you

Since you know how much you want to borrow you can follow these three steps:

  • Work out how long you need to pay the £5000 loan back

  • Compare rates online to find the cheapest loan

  • Make sure you meet the lender's rules before you apply

You can see which will be the cheapest and see how much you will pay each month using our loan calculator.

Get the cheapest loan

The cheapest loan is one with the lowest APR (interest rate) for the term you want to borrow for.

This comparison includes all the £5,000 personal loans available in the UK today, so you can compare rates to find the best loan for you.

Check the rules before you apply

Every lender has a list of requirements all their borrowers have to meet before they lend to them, so it pays to check you fit the bill before you apply.

Typical requirements can include:

  • Being a UK resident

  • Earning a minimum income per year e.g. £12,000

  • Having a good credit record e.g. no history of missing loan payments

Will being rejected for a loan affect my credit rating?

Every time you apply for credit, it leaves a mark on your credit report. If you're rejected for a loan application, it's important to try to find out why before you apply again.

It's also vital that you don't make many applications at once, as that may give the impression that you are struggling financially.

This is where our comparison service can help, as you can compare find the deals that you can afford and that you're more likely to be accepted for.

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