Shawbrook Personal Loans
Fixed rates from 6.7% APR, flexible loan amounts from £1,000 to £35,000, and terms up to 7 years. Fast online application with no early repayment fee.
If you’re considering a personal loan, Shawbrook Bank stands out with its competitive interest rates and borrower-friendly features. As an independent reviewer, here’s my take on their offering.
Shawbrook personal loans start at a representative 6.7% APR. You can borrow from £1,000 up to £35,000, choosing terms from one to seven years depending on your needs. These fixed-rate loans mean predictable repayments, and you’ll have the flexibility to pay back early with no extra charges—an uncommon advantage in the loan market.
How to Apply: Step by Step
- Check your eligibility with a soft search, which won’t affect your credit score.
- Get your quote online by specifying your loan amount and term.
- Review your personalised APR and terms.
- Submit the full application with personal and financial details.
- If approved, sign electronically and receive your funds, often within a few days.
Pros of Shawbrook Personal Loans
One of the biggest advantages is the competitive rates for creditworthy applicants, making large or small loans affordable. Flexible terms accommodate a wide range of financial situations.
In addition, Shawbrook allows early repayment with no fees. You have the option to settle your balance early without facing extra costs, which is a consumer-friendly feature.
Cons of Shawbrook Personal Loans
Shawbrook’s best rates are usually reserved for those with excellent credit. If your credit score isn’t strong, the APR may be higher than advertised.
Moreover, if you prefer face-to-face services, note that this lender primarily operates online, which may not suit everyone’s preferences.
Verdict: Should You Choose Shawbrook?
Shawbrook Bank presents a solid choice for borrowers seeking straightforward applications, competitive rates, and early repayment flexibility. For many, it represents a good value proposition.
However, those with weaker credit or a preference for in-person service might consider exploring alternatives before deciding. Overall, Shawbrook is a strong option for many UK borrowers.
