What are the best personal loans? | moneyfacts.co.uk

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nigel woollsey

Nigel Woollsey

Online Writer
Published: 11/03/2020

How do we decide which personal loans get the best rating?

The Moneyfacts Annual Star Ratings are based on our in-house product experts’ in-depth analysis of all the personal loan products currently on the market. By comparing the consumer benefits afforded by each product, our specialists judge which are worthy of the coveted four-and five-star ratings – signifying products that are truly market leaders in terms of the advantages they offer to customers.

How does a star rating help me find the best personal loan?

Importantly, the Moneyfacts Star Ratings are both independent and impartial – enabling providers and consumers alike to have complete trust in how we determine the very best personal loans available.

By choosing a product with a four- or five-star Moneyfacts rating, you can be assured that this represents a quality personal loan with above-average features and benefits.

What elements of personal loans do we look at?

A sizeable number of features are considered for the final rating when it comes to personal loans products. These include:

  • Footprint free quote

  • Instant decision

  • Application methods

  • Early repayment charge

  • Deferment periods

  • Minimum and maximum advances

  • Minimum and maximum terms

  • Payment methods

  • Overpayments without early repayment charge

  • Debt consolidation limit

  • Incentives

  • Joint application

  • Loan top-up options

  • Online statements

  • Payment holidays.

  • Risk-based pricing

  • Same-day funds

  • Unpaid charges

Personal loans - Five star

  • Bank of Scotland - Existing Customer Personal Loan
  • first direct - Personal Loan
  • Halifax - Existing Customer Personal Loan
  • Halifax - Personal Loan
  • HSBC - Existing Customer Personal Loan
  • HSBC - Personal Loan
  • HSBC - Premier Customer Personal Loan
  • John Lewis Financial Services - Personal Loan
  • Lloyds Bank - Existing Customer Personal Loan
  • M&S Bank - Existing Customer Personal Loan
  • M&S Bank - Personal Loan
  • Nationwide BS - Main Current Account, Mortgage and Savings Member Personal Loan
  • NatWest - Existing Customer Personal Loan
  • Royal Bank of Scotland - Existing Customer Personal Loan
  • Sainsbury's Bank - Standard Nectar Cardholder Loan
  • Tesco Bank - Personal Loan
  • TSB - Existing Current Account Customer Personal Loan
  • TSB - Personal Loan
  • Ulster Bank - Existing Customer Personal Loan

Personal loans - Four star

  • AIB - Personal Loan
  • Barclays Bank - Existing Current Account Customer Barclayloan
  • Barclays Bank - Existing Premier Account Customer Barclayloan
  • Hitachi Personal Finance - Hitachi Personal Loan
  • MBNA Limited - Personal Loan
  • Metro Bank - Personal Loan
  • RateSetter - Personal Loan
  • Starling Bank - Personal Loan
  • Virgin Money - Virgin Money Personal Loan

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.


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