Shawbrook Bank Loans Review

Shawbrook Bank personal loans: At a glance

Available Terms
2 to 7 years

Available Amounts
£1,000 to £50,000

Representative APR
14.1%

Joint Loans
Yes

Representative Example
Representative APR 14.1%. Based on a loan of £10,000 over 60 months at an interest of 14.1% p.a. (fixed). Monthly repayments of £228.88. Total amount payable £13,732.84. Maximum APR: 34.9%.

Eligibility Criteria

Must be aged 21 to 75
Must have been a permanent resident of the UK for at least 3 years
Must have an annual income of at least £15,000
Must have a personal UK bank account

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Shawbrook Bank offers unsecured personal loans, alongside a range of other financial products, such as savings accounts and business finance.

Shawbrook Bank loans range from £1,000 to £50,000, which you can repay over two to seven years. These loans can be used to cover a range of costs, such as a new car, a wedding, home improvements, or debt consolidation, for example.

While the application and approval process can be relatively fast as everything is done online, you may have to wait a few days before the loan is in your account and ready to use.

» COMPARE: Best personal loans

Shawbrook Bank loans pros & cons

Pros

You can change your monthly loan payment date.
You can get an immediate decision on your application.
You can apply for a joint loan. Restrictions may apply.
You can manage your loan via the Shawbrook Bank online portal.

Cons

You can face interest charges if you want to settle your loan early.
It can take up to three working days to receive funds in your account.

While we aim to provide accurate information, we cannot guarantee that all details will remain applicable to your specific circumstances. Product terms and conditions can change and you should conduct your own research before applying for any product. This information should not be considered a recommendation, always check the provider’s official terms.

Am I eligible for a Shawbrook Bank loan?

To qualify for a personal loan from Shawbrook Bank, you will need to meet the basic criteria before it will consider your application. You will need to:

be aged between 21 and 75 years old
have been a UK resident for at least three years
earn at least £15,000 a year
have a personal UK bank account
have a good credit history with no outstanding county court judgments (CCJ)

As part of the application process, you can also opt-in to open banking and allow Shawbrook to view more information about your finances and work out whether you can afford to repay a loan. Sometimes this makes the application process quicker and easier.