Personal loans: Get secure and unsecure loans

If you need a secure or unsecure loan because you need to borrow some money, we have selected a few places that give personal loans.

Personal loans

Here are 4 of the cheapest personal loans available.

1. Post Office

Features and benefits
*You can check if you can get a loan without affecting your credit score.
* Representative 14.9% APR on loans on £4000 over 36 months. Monthly repayments £136.65, total payable is £4919.47
* Instant decision in most cases.
Get more information and apply, here: Post Office Loans.

2. Tesco

Features and benefits
* Tesco offers unsecured loans.
* You can borrow money from £1, 000 to £35, 000 with loan period from 1 to10 years.
* You might be accepted for a better rate with your Tesco Club Card.
* Get an instant decision.
* Take a payment break
Get more information and apply, here: Tesco Bank Loans.


Features and benefits
* You can get a low cost loan or a mortgage for any purpose.
* They offer plans for poor credit rating.
* AI support to ensure you are always offered lowest available rates.
* Quick and easy online application.
Get more information and apply, here: loans.

4. M&S Bank

Features and benefits
* Get unsecured loan from a national trusted brand.
* You can borrow from £1, 000 to £25, 000. From 12 months to 84 months.
* Representative 2.8% p.a (fixed) on a £7, 600 loan, over a period of 60 months.
* Enhanced rates could be available on certain loans for customers with existing M&S loan or card.
Get more information and apply, here: M&S Bank Loans.

Personal loans

What is the difference between a secured and an unsecured loan?

Secure Loan

Secure loans is when you use a collateral as a guarantee such as your home or property. This will enable you to get a better rate than an unsure loan.

However, if you do not keep up the loan payments the lender might take your property to sell and recover the amount you owe them.

Unsecure Loan

An unsecure loan does not require you to put down a collateral as a guarantee. However, this will mean you might have to pay a higher rate of interest on you loan.

Documentations required for ID

Here are some documents you might require for ID

  • UK Passport, Biometric Residence Permit, Foreign Passport and Visa.
  • EU and EEA National Identity Card.
  • UK Driving Licence / EU EEA Driving Licence.

Documentations required for proof of address

  • Bank Statement.
  • Credit Card Statement.
  • Gas and Electric Bill.
  • Mortgage Statement.
  • Benefit Statement, such as Universal Credit (dated within 12 months).
  • HMRC Tax Notification (dated within 12 months).
  • UK Credit Union Statement (dated with 12 months).

Proof of right to work and live in the UK

You might be required to show proof of right to work and live in the UK.

  • Passport.
  • Naturalisation certificate.
  • Resident permit.
  • Any document that shows right to work and live in the UK.

Additional information

For debt advice, go to: The National Debtline.

If you would like more information about bank regulations, go to: Financial Conduct Authority (FCA).

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