We use cookies to allow us and selected partners to improve your experience and our advertising. By continuing to browse you consent to our use of cookies as per our policy which also explains how to change your preferences.

£5,000 loans over three years

We’ve analysed more than 60 unsecured loan products to find the cheapest deals available.

In this article
Cheapest £5,000 loans compared How we choose Best Rate personal loans
Get top money-saving tips from Which?

Cheapest £5,000 loans compared

The table below shows the best deals available for a £5,000 loan paid back over three years. If you're looking for a way to spread the cost of a big purchase, you may want to consider one of the deals below.

Provider

 

APR

The annual rate of interest charged on the loan, including any related fees. This is a Representative rate which means you may be offered a different one depending on your credit history.

 

Total Repayable Over Term

The total amount you'll repay over the loan term.

 

Monthly Repayment

The fixed amount you'll have to repay each month.

 

Risk-based pricing

If a lender uses risk-based pricing, you may be offered a loan at a higher interest rate than the one listed below, depending on your credit history.

 

Early Repayment Penalties

Whether you'll have to pay an extra fee if you want to repay the loan early.

undefinedAdmiral

3.4% £5.262.12 £146.17 Yes Yes

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.4% APR Representative.

undefinedClydesdale Bank

3.4% £5.262.48 £146.18 Yes Yes

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.4% APR Representative.

undefinedZopa 3.4% £5,265.36 £146.26 Yes No

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.4% APR Representative.

undefinedJohn Lewis Finance 3.6% £5,275.35 £146.54 Yes No

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.6% APR Representative.

undefinedM&S Bank 3.6%  £5,277.60 £146.60 Yes  Yes

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.6% APR Representative.

undefinedSainsbury's Bank (For Nectar Cardholders) 3.6%  £5,277.60 £146.60 Yes  Yes

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.6% APR Representative.

undefinedTesco Bank 3.7% £5,285.16 £146.81 Yes Yes

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.7% APR Representative.

undefined Hitachi Personal Finance 3.7% £5,285.52 £146.82 Yes No

Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.7% APR Representative.

undefinedThe AA 3.8% £5,293.15 £147.03 Yes No
Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.8% APR Representative.
undefinedCahoot 3.8% £5,296.32 £147.12 Yes Yes
Representative example: The table shows the monthly repayment and total cost of a £5,000 loan at a fixed rate of 3.8% APR Representative.

How we choose Best Rate personal loans

All the Best Rate loan providers listed by Which? are signed up to the Lending Code, which sets the minimum standards for the way banks, building societies and other providers should treat their customers.

Our Best Rate loans are widely available across the UK, and consumers do not need to own any other financial products from an institution in order to qualify for them.

Lots of loan providers use risk-based pricing to determine what interest rates their customers get.

This means you might not end up with the same rate as the one you saw advertised, as the rate you get is based on your credit score.

If you want to know what personal loan rate you’ll get when you apply, go for a Best Rate loan that doesn’t use risk-based pricing.

If you think there’s a chance you might be able to repay your loan early, look for a Best Rate without any early repayment charges.

Get top money-saving tips from Which?

Sign up to the Which? Money Weekly newsletter to get our latest news, tips and deals straight to your inbox. 

 

×