Cheapest personal loan(£7,500-£25,000) 2.8%APR- Example- £10,000 cost £178.82 monthly for 5 years (The total cost after 5 years is £10,728) + £45 Quidco @ Zopa
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Cheapest personal loan(£7,500-£25,000) 2.8%APR- Example- £10,000 cost £178.82 monthly for 5 years (The total cost after 5 years is £10,728) + £45 Quidco @ Zopa

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Edited by:"kkthomask"Found 28th Oct
This is not a deal. See if it is useful for someone.Christmas and Brexit are coming, interest hike is expected..No arrangement fee and instant approval. Zopa is the most rated peer to peer lender in UK, best award winner from Moneywise and recommended by Moneysupermarket.

Top comments

Original Poster

gbharatkumar5 m ago

But you end up taking £2500 more in loan even if you dont need it



I don't understand your comment. Zopa also offer loans from £1000 to £25000. The interest rate is £2.8% for loans from £7500(eaxctly as Sainsbury's). This has better customer rating as well. I was just posting to see if help someone dude.So nobody is forced to take more loan as you have stated. Just chill out.
47 Comments

Sainsbury's bank has same interest rate starting from £7500

Original Poster

gbharatkumar4 m ago

Sainsbury's bank has same interest rate starting from £7500



Thanks. Both TSB and Sainsbury are offering he same rate of 2.8%. This was found to be the most customer friendly and easier to get. Second option was Sainsbury and the last option is TSB(most difficult to get). Zopa is a peer to peer company with a lot of good reviews and recommendations by agencies like Moneysavingexpert etc.
Edited by: "kkthomask" 28th Oct

kkthomask3 m ago

Thanks. Both TSB and Sainsbury are offering he same rate of 2.8%. This was …Thanks. Both TSB and Sainsbury are offering he same rate of 2.8%. This was found to be the most customer friendly and easier to get. Second option was Sainsbury and the last option is TSB(most difficult to get). Zopa is a peer to peer company with a lot of good reviews and recommendations by agencies like Moneysavingexpert etc.

But you end up taking £2500 more in loan even if you dont need it

Original Poster

gbharatkumar5 m ago

But you end up taking £2500 more in loan even if you dont need it



I don't understand your comment. Zopa also offer loans from £1000 to £25000. The interest rate is £2.8% for loans from £7500(eaxctly as Sainsbury's). This has better customer rating as well. I was just posting to see if help someone dude.So nobody is forced to take more loan as you have stated. Just chill out.

kkthomask4 m ago

I don't understand your comment. Zopa also offer loans from £1000 to …I don't understand your comment. Zopa also offer loans from £1000 to £25000. The interest rate is £2.8% for loans from £7500(eaxctly as Sainsbury's). This has better customer rating as well. I was just posting to see if help someone dude.So nobody is forced to take more loan as you have stated. Just chill out.

I think they understood you had to take a £10000 loan, as it's not clear you were just giving an example and that you can actually take any value in the interval you just mentioned.

BenLoco2 m ago

I think they understood you had to take a £10000 loan, as it's not clear …I think they understood you had to take a £10000 loan, as it's not clear you were just giving an example and that you can actually take any value in the interval you just mentioned.

Then interest rate will go up if we reduce the loan amount from £10000

Original Poster

gbharatkumar7 m ago

Then interest rate will go up if we reduce the loan amount from £10000



Interest rate will go up from 2.8 only if you reduce the loan amount below £7,500, eaxctly same as Sainsbury

Original Poster

BenLoco10 m ago

I think they understood you had to take a £10000 loan, as it's not clear …I think they understood you had to take a £10000 loan, as it's not clear you were just giving an example and that you can actually take any value in the interval you just mentioned.





Interest rate will go up from 2.8 only if you reduce the loan amount below £7,500, exactly same as Sainsbury

Zopa are good. Not sure if you can do this with the banks, but Zopa will tell you from a soft search whether you will be accepted, but more importantly the actual rate you will get. AFAIK the banks will do a hard search before you find out the rate you get, which may not be the advertised representative rate and significantly higher.
Edited by: "ahenners" 28th Oct

I have a Zopa loan and can thoroughly recommend them - good rates, quick and easy to set up, easy to manage online and no early repayment fee (or set up fee, but believe that depends on your credit rating)

As others have said, don't borrow less than £7,500 or the interest rate goes up (I still haven't quite figured that one out, I'd have thought more money = more risk = higher rate but oh well!)

Are nationwide still matching & offering 0.5% off personal loans ?

ercdolan12 h, 51 m ago

Are nationwide still matching & offering 0.5% off personal loans ?



Yes

Yeah, I think we can all agree that you shouldn't be taking a huge loan for Christmas!!! If you cant afford it at the most get a 0 % interest card over a year don't lump yourself with a huge debt, itll just get worse the next year!

Just remember only top rated people will get these headline rates check out the rates on MSE as there may be better rates out there, though this is getting heat there are others offering the same rate but depends on how much you want.

If you are a nationwide customer use them to get 0.5% off.

moneysavingexpert.com/loa…ans

Just to remind folk that Nationwide only offers the price match on high street bank loans and not peer to peer lending sites like Zopa

Why on earth would you want to pay interest when there's loads of cards that are 0%.
Edited by: "Madchester" 29th Oct

Madchester11 m ago

Why on earth would you want to pay interest when there's loads of cards …Why on earth would you want to pay interest when there's loads of cards that are 0%.


For £25k?

A loan is questionably an easier lending option as a card can be used to spend on again, the temptation is always there, and you can pay off any amount per month from the minimum which could cause you to go over the 0% period, whereas an unsecured loan has to be paid down with equal, regular monthly payments over what is usually a longer term than a 0% credit card offers.

phoenix_af30 m ago

For £25k? A loan is questionably an easier lending option as a card can be …For £25k? A loan is questionably an easier lending option as a card can be used to spend on again, the temptation is always there, and you can pay off any amount per month from the minimum which could cause you to go over the 0% period, whereas an unsecured loan has to be paid down with equal, regular monthly payments over what is usually a longer term than a 0% credit card offers.


Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. Minimum payment on that is just £350 per month and at the end of the cards 0% period they will do a balance transfer to another card. I bought a £12000 car using a 0% card and paying £414 per month 0% interest I didn't even get charged a card fee off Arnold Clarke who were great. At the end of the 29 months 0% I will owe nothing and will own the car. I did this as an alternative to leasing (which I also recommend) which I did with my last car, it's just that this time I am using the car fir business so need ownership. I have about £20000 credit available to myself I am never tempted to use it. Credit cards can have great reward schemes too so you can get paid to spend like amex..

like This amex offer £200 free nectar points if you spend £200 in first 3 months on amex card £0 fee first 12 months ...
Edited by: "Madchester" 29th Oct

Madchester9 m ago

Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. …Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. Minimum payment on that is just £350 per month and at the end of the cards 0% period they will do a balance transfer to another card. I bought a £12000 car using a 0% card and paying £414 per month 0% interest I didn't even get charged a card fee off Arnold Clarke who were great. At the end of the 29 months 0% I will owe nothing and will own the car. I did this as an alternative to leasing (which I also recommend) which I did with my last car, it's just that this time I am using the car fir business so need ownership. I have about £20000 credit available to myself I am never tempted to use it. Credit cards can have great reward schemes too so you can get paid to spend like amex..


It’s not nonsense, it’s my opinion and based on the fact that a lot of people get themselves tied into knots when spending on a card with revolving balances. Amex is a fantastic proposition but the majority require you to pay the balance off each month, so not even sure why you’ve mentioned that.

Wish I had used these guys rather than Yorkshire bank (was an absolute pita to set up)

phoenix_af10 m ago

It’s not nonsense, it’s my opinion and based on the fact that a lot of peo …It’s not nonsense, it’s my opinion and based on the fact that a lot of people get themselves tied into knots when spending on a card with revolving balances. Amex is a fantastic proposition but the majority require you to pay the balance off each month, so not even sure why you’ve mentioned that.



Here I'll simplify it for you

credit card = debt (+ get rewards)
loans = debt (+ fees = more debt)

If people aren't responsible with debt they shouldn't have any..

forgot to to mention that credit cards come with guarantees on purchases should anything go wrong which could prove valuable
Edited by: "Madchester" 29th Oct

Madchester13 m ago

Here I'll simplify it for youcredit card = debt (+ get rewards)loans = …Here I'll simplify it for youcredit card = debt (+ get rewards)loans = debt (+ fees = more debt)If people aren't responsible with debt they shouldn't have any..forgot to to mention that credit cards come with guarantees on purchases should anything go wrong which could prove valuable


Well done.

You clearly don’t like personal loans so this ‘deal’ must really be grinding your gears.
Edited by: "phoenix_af" 29th Oct

Madchester1 h, 15 m ago

Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. …Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. Minimum payment on that is just £350 per month and at the end of the cards 0% period they will do a balance transfer to another card. I bought a £12000 car using a 0% card and paying £414 per month 0% interest I didn't even get charged a card fee off Arnold Clarke who were great. At the end of the 29 months 0% I will owe nothing and will own the car. I did this as an alternative to leasing (which I also recommend) which I did with my last car, it's just that this time I am using the car fir business so need ownership. I have about £20000 credit available to myself I am never tempted to use it. Credit cards can have great reward schemes too so you can get paid to spend like amex..like This amex offer £200 free nectar points if you spend £200 in first 3 months on amex card £0 fee first 12 months ...


You have been lucky to get a car dealer to let you put the car on a card, they normally don’t like you putting full amounts on because of the charge. Good luck with your mate trying to get a mortgage with 32k on credit cards lenders prefer loans over credit card debit any time. Clearly it worked for you but for the majority it won’t and racking up credit card debt along with subprime is why we got into the mess the world is in. Long gone are the 10k plus limits for new card holders.

Original Poster

mcormack2 h, 57 m ago

Yes

How do you get it for 2 3% from Nationwide?

Madchester1 h, 44 m ago

Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. …Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. Minimum payment on that is just £350 per month and at the end of the cards 0% period they will do a balance transfer to another card. I bought a £12000 car using a 0% card and paying £414 per month 0% interest I didn't even get charged a card fee off Arnold Clarke who were great. At the end of the 29 months 0% I will owe nothing and will own the car. I did this as an alternative to leasing (which I also recommend) which I did with my last car, it's just that this time I am using the car fir business so need ownership. I have about £20000 credit available to myself I am never tempted to use it. Credit cards can have great reward schemes too so you can get paid to spend like amex..like This amex offer £200 free nectar points if you spend £200 in first 3 months on amex card £0 fee first 12 months ...



Crikey, I dont think that i even have anywhere near that £35000.00 limit if I total up all three of my credit cards.
I sure as hell wouldnt get £35000.00 on a zero interest card.
But good luck to them for actually doing it

It's good if you want to reinvest this money from loan... I mean get the money on 2.8% APR & reinvest safely for 5% Apr with nationwide.... straight 2.2% profit...plus deduct bit of tax if applicable, still it's better.... or invest in higher return bonds with 7 to 8% return ....

singhisking688 m ago

It's good if you want to reinvest this money from loan... I mean get the …It's good if you want to reinvest this money from loan... I mean get the money on 2.8% APR & reinvest safely for 5% Apr with nationwide.... straight 2.2% profit...plus deduct bit of tax if applicable, still it's better.... or invest in higher return bonds with 7 to 8% return ....


Higher return usually means higher risk?

kkthomask54 m ago

How do you get it for 2 3% from Nationwide?


Have a nationwide account and get accepted elsewhere and they will price match minus 0.5%

poisondwarf1 h, 17 m ago

Crikey, I dont think that i even have anywhere near that £35000.00 limit …Crikey, I dont think that i even have anywhere near that £35000.00 limit if I total up all three of my credit cards.I sure as hell wouldnt get £35000.00 on a zero interest card.But good luck to them for actually doing it


And another £24,500 card to flip it onto. That is nearly £60k of credit over two 0% purchase credit cards! So that is 99% of people out.

As for Arnold Clark being nice. Lol. They factored it in, so he essentially overpaid for the car.

GAVINLEWISHUKD3 m ago

And another £24,500 card to flip it onto. That is nearly £60k of credit o …And another £24,500 card to flip it onto. That is nearly £60k of credit over two 0% purchase credit cards! So that is 99% of people out.As for Arnold Clark being nice. Lol. They factored it in, so he essentially overpaid for the car.



Totally agree with you

Madchester3 h, 35 m ago

Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. …Nonsense. Someone I know recently spent £35000+ On 2 cars using 0% cards. Minimum payment on that is just £350 per month and at the end of the cards 0% period they will do a balance transfer to another card. I bought a £12000 car using a 0% card and paying £414 per month 0% interest I didn't even get charged a card fee off Arnold Clarke who were great. At the end of the 29 months 0% I will owe nothing and will own the car. I did this as an alternative to leasing (which I also recommend) which I did with my last car, it's just that this time I am using the car fir business so need ownership. I have about £20000 credit available to myself I am never tempted to use it. Credit cards can have great reward schemes too so you can get paid to spend like amex..like This amex offer £200 free nectar points if you spend £200 in first 3 months on amex card £0 fee first 12 months ...


Clownish comment of the Week!

ahenners28th Oct

Zopa are good. Not sure if you can do this with the banks, but Zopa will …Zopa are good. Not sure if you can do this with the banks, but Zopa will tell you from a soft search whether you will be accepted, but more importantly the actual rate you will get. AFAIK the banks will do a hard search before you find out the rate you get, which may not be the advertised representative rate and significantly higher.



Yes, they did a soft search and gave me a rate which will not change but when I applied it took them 3 days to inform me that they cannot lend the amount to me. I don't know what their lending criteria is.

Whilst I love 0% cards you do have to be careful and I personally wouldn’t put over 10k on one. All it takes is a change of circumstance or the economy to take a turn for the worst and then you’re stuck with all this credit card debt you might not be able to shift on to another card. I’m also uneasy that lenders might not lend if you have 10/15k outstanding. That’s one spiral of debt I wouldn’t want to get into. Also as mentioned, implications of mortgage renewals/applications.

Thanks for posting OP. Mrs needs a new car and £7500 loan seems the way to go I think.

Original Poster

201511 m ago

Whilst I love 0% cards you do have to be careful and I personally wouldn’t …Whilst I love 0% cards you do have to be careful and I personally wouldn’t put over 10k on one. All it takes is a change of circumstance or the economy to take a turn for the worst and then you’re stuck with all this credit card debt you might not be able to shift on to another card. I’m also uneasy that lenders might not lend if you have 10/15k outstanding. That’s one spiral of debt I wouldn’t want to get into. Also as mentioned, implications of mortgage renewals/applications. Thanks for posting OP. Mrs needs a new car and £7500 loan seems the way to go I think.



Every LIDL help..ha ha

eslick7 h, 52 m ago

Just remember only top rated people will get these headline rates check …Just remember only top rated people will get these headline rates check out the rates on MSE as there may be better rates out there, though this is getting heat there are others offering the same rate but depends on how much you want.If you are a nationwide customer use them to get 0.5% off. https://www.moneysavingexpert.com/loans/cheap-personal-loans


Nationwide sucks. Tried them a few times as I've been with them for at least 15 years. But they turned me down as I am self-employed...

no_Sunshine10 m ago

Nationwide sucks. Tried them a few times as I've been with them for at …Nationwide sucks. Tried them a few times as I've been with them for at least 15 years. But they turned me down as I am self-employed...


They only suck as you don’t meet their lending criteria which could be the same with any other loan you go for. It’s always difficult being self employed, in many cases probably not yours, the accountant does the books to reduce the tax liability which then has an impact on other things you need.

eslick3 m ago

They only suck as you don’t meet their lending criteria which could be the …They only suck as you don’t meet their lending criteria which could be the same with any other loan you go for. It’s always difficult being self employed, in many cases probably not yours, the accountant does the books to reduce the tax liability which then has an impact on other things you need.


I have over 30K in credit card limit. My circumstances are fine for credit card companies yet not good enough for Nationwide? I have tried Nationwide for loan twice (due to them sending me offers via mail) and never gonna waste my time going to the high street & waiting there for someone to see me, for them to only tell me I don't fit their criteria - so, a waste of time, with all due respect.

no_Sunshine1 m ago

I have over 30K in credit card limit. My circumstances are fine for credit …I have over 30K in credit card limit. My circumstances are fine for credit card companies yet not good enough for Nationwide? I have tried Nationwide for loan twice (due to them sending me offers via mail) and never gonna waste my time going to the high street & waiting there for someone to see me, for them to only tell me I don't fit their criteria - so, a waste of time, with all due respect.


Credit cards are different to loans

eslick1 m ago

Credit cards are different to loans


Might be different, but usually same criteria of checking credit history etc. I've been with my credit card providers for less than half the time I've been with Nationwide & they should honour that, but they won't. So, they've lost my business & I've shifted all my accounts to Barclays & Lloyds.

gbharatkumar28th Oct

Sainsbury's bank has same interest rate starting from £7500


That’s if they actually offer you that rate (it’s based on ‘personal circumstances’). I applied for a £20k Sainsbury’s loan and they offered me a shoddy rate of closer to 5%. My Experian credit rating is 999 and I’ve never had a late payment on any credit facility ever.
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