Quick Answer
A £30,000 personal loan at a representative APR of around 6.5% over 5 years costs approximately £532 per month. Compare rates below or use our loan calculator.
- Shortest affordable term wins — low monthly ≠ cheap
- Early repayment is a legal right and usually worth it despite small fees
- Soft-search eligibility checkers first, one targeted application second
- Representative APR binds only 51% of borrowers — compare personalised quotes
Beyond the Basics
Soft-search eligibility checking changed the game: check eligibility (soft search) across the market first, apply once, to the best-matched lender. Every unnecessary hard search makes the next lender warier.
Read 'representative' as 'maybe'. Only 51% of accepted borrowers must get that rate — the rest can be charged substantially more. Personalised pre-approval rates are the only numbers worth comparing.
Consolidation is a tool, not a cure. Rolling cards into a loan lowers the rate but re-opens the credit lines. The failure mode is well documented: consolidated debts plus re-spent cards.
£30,000 Personal Loan — Rates & Comparison
Looking to borrow £30,000? We compare personal loan rates from major UK lenders to help you find the cheapest deal. Always compare the Total Amount Repayable, not just the monthly payment.
Representative Rates for a £30,000 Loan
| Lender | Representative APR | Term | Monthly Payment (est.) |
|---|---|---|---|
| Barclays | From 5.5% APR | 1–5 years | Check lender |
| NatWest | From 5.9% APR | 1–7 years | Check lender |
| Nationwide | From 6.1% APR | 1–5 years | Check lender |
| Sainsbury's Bank | From 5.8% APR | 1–5 years | Check lender |
| M&S Bank | From 6.0% APR | 1–7 years | Check lender |
Rates shown are representative and subject to your credit score. Always check the lender directly.
How to Get the Best Rate on a £30,000 Loan
- Check your credit score — a higher score means lower rates. Check free at Experian or Credit Karma
- Use a soft search eligibility checker — won't affect your credit score
- Compare total cost — look at Total Amount Repayable, not just APR
- Consider the term — longer terms mean lower monthly payments but more interest overall
Eligibility for a £30,000 Loan
Most UK lenders require you to be aged 18+, a UK resident, employed or self-employed, and have a bank account. Your credit history will be assessed. If you have bad credit, consider a bad credit loan or guarantor loan.
Alternatives to a Personal Loan
- 0% purchase credit card (for shorter-term borrowing under £5,000)
- Remortgage to release equity (for homeowners)
- Debt management plan if consolidating existing debts
Frequently Asked Questions
Don't reapply immediately. Get your credit reports (all three bureaus are free), fix errors, register on the electoral roll, and wait 1–3 months before trying a better-matched lender.
Unsecured protects your home but costs more and caps around £25–50k. Only secure debt against your home when the rate saving is decisive and payments are certain.
Representative APR only has to be offered to just over half of accepted applicants. Your personal rate can be far higher — which is why a soft-search personalised quote matters.
A longer term lowers the monthly payment but costs much more overall. Take the shortest term you can comfortably afford.
There's no single threshold — each lender scores differently. A 'good' band on any bureau opens most doors; below that, use eligibility checkers before applying.
Compare & Save Today
We compare the UK's leading providers — free, with no credit impact
MoneySuperMarket
Compare 50+ UK personal loan lenders
Experian
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ClearScore
See your chances before applying
Zopa
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