Compare 24-Month Unsecured Loans

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Compare top UK loan providers, including:

  • Mark's and Spencer logo
  • Post Office logo
  • Admiral logo
  • Shawbrook bank logo
  • Zopa logo
  • My Community Finance logo
  • Santander logo
  • Better Borrow logo

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Learn about 24-month unsecured loans

24-Month Unsecured Loans FAQs

What is a 24-month unsecured loan?

You might request a 24-month unsecured loan as you have considered that the repayments for this term are affordable for the amount you wish to borrow. Unsecured loans are personal loans and not secured against an asset such as a property. This makes them potentially suitable to non-homeowners, or to homeowners that do not wish to secure the loan.

How do I pay a 24-month unsecured loan?

A 24-month unsecured loan would require you to agree to repay your lender an agreed monthly instalment for two years. The levels of interest offered by lenders will play a part in determining how much your loan will ultimately cost, so make sure to shop around and go with an arrangement that suits your needs best.

How do I prepare for a 24-month unsecured loan?

Only borrow as much as you know you can repay and take the various rates of interest into account, to help you decide which loan suits you best. Also, make sure you are aware of all terms and conditions with your prospective deal, as some lenders may allow you to repay earlier without a fee, for example, while others may not. Knowing exactly what you need before you approach lenders will help you find the right loan for you.

Does my credit rating matter for a 24-month unsecured loan?

If you have a good credit history, you are more likely to succeed in getting a 24-month unsecured loan. Also, as you won’t be relying on collateral, having a steady source of income and a good track record on credit will give your lender greater confidence in lending to you.

Can I still get a 24-month unsecured loan with poor credit?

With a poor credit score, fewer lenders will consider you for a 24-month unsecured loan, as you may pose too great a risk for them. However, borrowers with poor credit can still find willing lenders on the market, but they may have to accept a higher level of interest, due to the increased risk for lenders.

Is a 24-month unsecured loan more expensive than a short-term loan?

Short term loans are a high cost form of borrowing and should only be considered in for essentials. The interest rates charged on a longer terms loan will be lower. However, the longer you borrow for, the longer interest is charged, so you should understand the full cost of borrowing on all loans you are considering.

How do I manage early repayment of my 24-month unsecured loan?

It may be possible for you to repay your 24-month unsecured loan early. Early repayment may allow you to save money on the remaining interest you would have had to pay originally. However, lenders vary in terms of early repayment policies. Some may encourage it, but others may be inclined to charge a fee. Check your loan terms before you proceed.

How will I know whether I can pay my 24-month unsecure loan back early?

Always check terms and conditions first, as policies can vary between lenders. Once you have identified potential lenders and received quotes, inquire about any extra costs that might come with early repayments. You may be able to find these details online before you apply for a quote, but if you can’t, don’t hesitate to ask your lender about this before you sign a contract.

Some examples

Here are some examples from UK loan providers that you can compare using the Monevo eligibility service:

    Shawbrook Personal Loan logo

    Shawbrook Personal Loan

    • Representative APR
      14.7% APR
    • Available Amounts
      £1,000 to £35,000
    • Min / Max Terms
      1 to 7 years
    Representative Example: Representative APR 14.7% (fixed). Based on a loan of £10,000 over 60 months at an interest of 14.7% p.a. (fixed). Monthly repayments of £231.62. Total amount payable £13,896.65. Maximum APR: 29.9%.
    More info
    • Broker
    Post Office Money Personal Loan logo

    Post Office Money Personal Loan

    • Representative APR
      14.9% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 7 years
    Representative Example: Representative APR 14.9%. Based on a loan of £4,000 over 36 months at an interest rate of 14.9% p.a. (fixed). Monthly repayments of £136.65. Total amount payable £4,919.47. Maximum APR: 29.9%.
    More info
    Admiral Personal Loan logo

    Admiral Personal Loan

    • Representative APR
      14.9% APR
    • Available Amounts
      £1,000 to £30,000
    • Min / Max Terms
      1 to 8 years
    Representative Example: Representative APR 14.9%. Based on a loan of £10,000 over 60 months at an interest of 13.97% p.a. (fixed). Monthly repayments of £232.53. Total amount repayable before £13,951.80. Maximum APR: 39.9%.
    More info
    • Peer To Peer
    Zopa Personal Loan logo

    Zopa Personal Loan

    • Representative APR
      19.9% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 19.9%. Based on a loan of £10,000 over 60 months at an interest of 19.9% p.a. (fixed). Monthly repayments of £255.50. Total amount payable £15,329.80. Maximum APR: 34.9%.
    More info
    Oakbrook Personal Loan logo

    Oakbrook Personal Loan

    • Representative APR
      19.9% APR
    • Available Amounts
      £1,000 to £10,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 19.9%. Based on a loan of £5,000 over 48 months at an interest of 19.9% p.a. (fixed). Monthly repayments of £147.71. Total amount payable £7,090.08. Maximum APR: 34.9%.
    More info
    My Community Finance Personal Loan logo

    My Community Finance Personal Loan

    • Representative APR
      23.0% APR
    • Available Amounts
      £1,500 to £25,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 23.0% (fixed). Based on a loan of £4,500 over 48 months at an interest of 23.0% p.a. (fixed). Monthly repayments of £139.66. Total amount payable £6,703.57. Maximum APR: 23.0%.
    More info
    Abound Personal Loans logo

    Abound Personal Loans

    • Representative APR
      24.8% APR
    • Available Amounts
      £1,000 to £10,000
    • Min / Max Terms
      1 to 3 years
    Representative Example: Representative APR 24.8%. Based on a loan of £2,000 over 36 months at an interest of 24.8% p.a. (fixed). Monthly repayments of £76.75. Total amount payable £2,763.00. Maximum APR: 24.8%.
    More info
    BetterBorrow Personal Loan logo

    BetterBorrow Personal Loan

    • Representative APR
      27.3% APR
    • Available Amounts
      £1,000 to £12,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 27.3%. Based on a loan of £5,000 over 42 months at an interest of 27.3% p.a. (fixed). Monthly repayments of £178.12. Total amount payable £7,480.93. Maximum APR: 39.8%.
    More info
    KOYO Personal Loan logo

    KOYO Personal Loan

    • Representative APR
      29.9% APR
    • Available Amounts
      £1,500 to £12,000
    • Min / Max Terms
      6 months to 5 years
    Representative Example: Representative APR 29.9%. Based on a loan of £6,000 over 48 months at an interest of 26.45% p.a. (fixed). 47 scheduled monthly payments of £205.09 and a final payment of £204.75. Total amount payable £9,843.98. Maximum APR: 34.9%.
    More info
    • Only available to homeowners
    Oplo Personal Loan logo

    Oplo Personal Loan

    • Representative APR
      30.8% APR
    • Available Amounts
      £2,000 to £15,000
    • Min / Max Terms
      2 to 6 years
    Representative Example: Representative APR 30.8%. Based on a loan of £6,915 repayable over 47 months at an interest rate of 13.92% pa (fixed). 46 monthly payments of £240.33 and a final payment of £240.33. Total amount payable £11,295.71. This includes an acceptance fee of £395. Maximum APR: 30.8%.
    More info
    Finio Personal Loan logo

    Finio Personal Loan

    • Representative APR
      39.9% APR
    • Available Amounts
      £1,000 to £10,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 39.9%. Based on a loan of £2,000 over 24 months at an interest of 39.9% p.a. (fixed). Monthly repayments of £116.07. Total amount payable £2,785.68. Maximum APR: 69.9%.
    More info
    Lifestyle Personal Loan logo

    Lifestyle Personal Loan

    • Representative APR
      49.9% APR
    • Available Amounts
      £1,000 to £5,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 49.9%. Based on a loan of £3,000 over 36 months at an interest of 49.9% p.a. (fixed). Monthly repayments of £146.37. Total amount payable £5,269.32. Maximum APR: 49.9%.
    More info
    118 118 Personal Loan logo

    118 118 Personal Loan

    • Representative APR
      49.9% APR
    • Available Amounts
      £1,000 to £5,000
    • Min / Max Terms
      1 to 3 years
    Representative Example: Representative APR 49.9%. Based on a loan of £2,000 over 24 months at an interest of 41.2% pa (fixed). Monthly repayments of £123.64. Total amount payable £2,967.43. Maximum APR: 79.9%.
    More info
    Bamboo Personal Loan logo

    Bamboo Personal Loan

    • Representative APR
      59.7% APR
    • Available Amounts
      £1,000 to £8,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 59.7% (fixed). Based on a loan of £3,000 over 30 months at an interest of 47.73% p.a. (fixed). 29 Monthly repayments of £173.02 and a final payment of £172.92. Total amount payable £5,190.50. Maximum APR: 69.9%.
    More info
    Minty Personal Loan logo

    Minty Personal Loan

    • Representative APR
      98.1% APR
    • Available Amounts
      £1,500 to £3,000
    • Min / Max Terms
      2 years
    Representative Example: Representative APR 98.1%. Based on a loan of £2,250 over 24 months at an interest of 44.4% p.a. (fixed). Monthly repayments of £177. Total amount payable £4,248. Maximum APR: 98.1%.
    More info
    Everyday Loans Personal Loan logo

    Everyday Loans Personal Loan

    • Representative APR
      99.9% APR
    • Available Amounts
      £1,000 to £15,000
    • Min / Max Terms
      1 to 5 years
    Representative Example: Representative APR 99.9% (fixed). Based on a loan of £3,000 over 24 months at an interest of 71.3% p.a. (fixed). Monthly repayments of £237.75. Total amount payable £5,706. Maximum APR: 299.8%.
    More info

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Our service is free of charge but we receive commissions from the providers we refer you to. This table is initially ordered by representative APR. You can use the options above the table to order it according to various criteria. You may be offered different rates depending on your personal credit rating.

Our comparison service features a selection of providers from whom we receive commission.

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This loans eligibility service is powered by Monevo. The data you supply is directly submitted to Monevo and is used to retrieve loan quotes from Monevo’s panel of lenders for Nerdwallet site users. By using their loans eligibility service you are agreeing to Monevo’s terms and conditions and privacy policy which can be found at Monevo.co.uk. Neither Monevo or Nerdwallet Ltd carry out credit repair services.

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