Shawbrook Bank
Borrow between £1,000–£50,000, with fixed rates starting from 14.1% APR representative. Fast online decision, soft search, and no impact on your credit score.
Introduction to Shawbrook Personal Loans
Shawbrook Bank offers personal loans ranging from £1,000 up to £50,000, with repayment terms from one to seven years. The representative APR is 14.1%, with a typical example being a £10,000 loan over five years, repaid at £228.88 a month. You get a fixed rate and clear monthly payments.
Eligibility requires applicants to be between 21 and 75, UK residents for at least three years, have a £15,000 minimum income, a UK bank account, and good credit. Notably, you can get a quote with a soft search, so checking rates won’t affect your credit score.
How to Apply: Step-by-Step
- Start an online application and provide basic information.
- Submit your contact details, UK residential address history for the last three years, and employment info.
- Receive an instant eligibility check and see your personalised rate.
- If suitable, provide your bank details and accept your quote.
- Sign documents online and, after approval, receive funds in up to three working days.
Pros of Shawbrook Personal Loans
One major benefit is knowing your rate before you formally apply. The soft credit search enables you to check affordability risk-free, with no impact on your report.
Another advantage is speed: some applicants receive a decision in minutes. The application process is fully online and designed for clarity, making it easy for borrowers to understand their commitments up front.
Cons of Shawbrook Personal Loans
Bear in mind that the lowest 14.1% APR is representative. Rates can be higher depending on your credit profile and loan amount, so not everyone will be eligible for headline rates.
Also, while early repayment is an option, there may be charges if you settle your loan early. Always review terms before signing.
Nosso veredicto
Shawbrook stands out for its transparency and customer-centric approach. Rates are competitive, and the application process is quick, easy, and won’t harm your credit for getting a quote. This makes it a strong option for those seeking straightforward personal borrowing.
