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Shawbrook Bank Personal Loans: Pros, Cons & Features

Shawbrook Bank offers unsecured personal loans that you can use for a range of purposes. Find out more about the features of a Shawbrook loan and its pros and cons.

Shawbrook Bank personal loans: At a glance

Shawbrook Bank Personal Loan


1 to 7 years

£1,000 to £50,000

16.9%

Yes

Representative APR 16.9%. Based on a loan of £10,000 over 60 months at an interest of 16.9% p.a. (fixed). Monthly repayments of £241.68. Total amount payable £14,500.74. Maximum APR: 34.9%.

  • 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

NerdWallet has partnered with Monevo who will check your eligibility.

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 one 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.

» MORE: Compare best personal loans and rates

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.
  • You can only get in touch with Shawbrook Bank’s customer support via phone or email.

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.

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Frequently asked questions

Is Shawbrook Bank safe?

Shawbrook Bank is authorised and regulated by the Financial Conduct Authority (FCA), as well as the Prudential Regulation Authority.

Is it easy to get a loan with Shawbrook Bank?

It’s not necessarily easier to get a loan with Shawbrook Bank than any other lenders. But, if you meet Shawbrook’s requirements and pass its credit and affordability checks, you could have funds in your account within three working days.