Get a decision in minutes with our simple online application and get clarity from the outset.
Why get a personal loan with us?
Borrow from £1,000 to £50,000 over one to seven years
Get a decision in minutes with our simple online application
Receive a personal loan quote without affecting your credit score
Manage loan repayments with a guaranteed fixed rate upfront
Who can apply?
We look at every customer’s financial circumstances individually. That's another reason why our personal loans are different from other lenders’. But we do have some basic criteria you'll have to meet before we can consider your application. You must:
Be aged 21 to 75
Have been a UK resident for at least three years
Have an annual income of at least £15,000
Have a personal bank account in the UK
Have a good credit history with no outstanding County Court Judgement (CCJ)
When you apply with us,we use a soft credit search so getting a quote won’t impact your credit score.
If you’re eligible, we’ll let you know the rate you’ll actually get so you can decide what’s right for you before applying for a loan. No waiting, no surprises; just a guaranteed personalised rate upfront.
If you’re happy to proceed, the next step is to provide us with your bank details and accept your rate. We’ll then send you a link by email to sign your loan documents online. Once the loan has been approved and we have signed the agreement, you’ll receive the funds within three working days.
If you meet our eligibility criteria, you'll need the following information ready to apply for a quote:
Residential addresses for the last three years
Contact details, including an email address
The rate we offer you will depend on your circumstances.
Representative example: for comparison purposes, 16.9% APR Representative based on a loan of £10,000 repayable over 60 months (five years) with an interest rate of 16.9% p.a. (fixed). Monthly payment of £241.68 total amount repayable £14,500.74.
All personal loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount. That's why you won't find a loan calculator on our website. To find out more about this as well as our commitment to transparency, visit our guide on why Shawbrook Bank doesn't use loan calculators.
We offer loans from £1,000 to £50,000 with loan terms from one to seven years. The maximum APR rate you could be offered is 34.9%.
Personal loans without the confusion.
We’re proud to be a different kind of bank. We’re committed to being fair and transparent with everyone that applies for a personal loan, so this is our promise:
Honest: What you see is what you get.
Open: We want you to get the rate that’s right for you.
Fair: Get a rate that’s based on your individual circumstances.
Upfront: If it’s not good for you, it’s not good for us
Below are some of the most common queries about our loans
What are unsecured personal loans?
Unsecured personal loans are loans that are not secured against any of your assets, such as your home or car.
These loans are typically for smaller amounts when compared to the amount you could borrow with a secured loan and can be more expensive because of the risk attached to unsecured lending.
However, at Shawbrook, we will give you a clear picture of your guaranteed rate when you apply for a quote so you can decide whether this is the right option for you.
Can I pay a loan back early?
Of course — you have the right to pay a personal loan back early or make an additional monthly repayment under the Consumer Credit Act. But it’s important to know that this may be subject to an early repayment charge.
To discuss your options with a member of our team, please contact us. If you have taken out a loan with us on or after 13th December 2021, you can also log in to your customer portal to contact us: https://myloan.shawbrook.co.uk/.
Payments on your loan are calculated by considering how much you want to borrow, how long you want to borrow it, and how much it will cost you including any fees. A lender will use the annual percentage rate (APR) on this sum to give you a fixed monthly payment over the duration of your loan.
Some lenders offer an online calculator to help you see what your repayments could look like if you chose to borrow with that specific lender.
At Shawbrook, we believe that personal loan calculators might not accurately reflect what interest rate you’ll get when you apply for a loan. When you use a calculator, this may not be the actual rate you receive, so you won’t have a clear picture of the rate you’ll get and the associated repayments until you apply.
Instead of using loan calculators, we offer you a guaranteed rate through our quote tool, which provides you with a breakdown of your repayment costs based on the actual APR that you’re eligible for. And don’t worry; applying for a quote will not affect your credit score.
Shawbrook is a different kind of bank, built to accommodate individuality, diversity and the dynamics of the modern world. We combine great technology and the expertise of our people to understand our customers’ individual requirements and to meet their evolving needs.