Borrowing Made Simple
Frequently asked questions
What is a Low Interest Loan?
A low interest loan is a loan that has a low APR. Whatever kind of loan you're after, you're going to want the lowest interest rate available. Finding the best rates is a matter of knowing both what to look for and where to look for it.
Will the length of the loan affect the interest paid?
Shorter term loans tend to have much higher interest rates, largely in order to ensure that you pay them off quickly - this is particularly the case with payday loans, which typically come with APRs in excess of 1,000%.
How will my credit rating impact me?
All other things being equal, if you've got a better credit rating, you'll be able to get better interest rates on any credit you take out. You can check your credit rating for free with Money Expert by visiting our Credit Expert credit report checker.
If you do have a poor credit rating, consider a credit building card, or even a guarantor loan.
Depending on both your reason for borrowing and the amount you want to borrow, you might be better off with a credit card or even an overdraft facility. Contact your bank for details about overdrafts.
Will the provider affect my loan?
Although the APR you’re offered depends on your credit score and the loan amount you’re looking for, your loan provider may offer other perks you can benefit from. So, before you commit to a lender, check if they can offer you any additional benefits such as no early repayment fees, improved rates for consistent repayments or enhanced customer support.
We outline all our lender’s benefits with any loan offers you receive, so you can easily compare your options when making your decision.
About our loan comparison service
The loan comparison service via this website is provided by MoneyExpert in association with Monevo Limited (Monevo) which is an Appointed Representative of Quint Group Limited (Quint), and is entered on the Financial Services Register under reference number: 723672. Quint is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Monevo is registered in the UK at Glasshouse, Alderley Park, Nether Alderley, Cheshire, SK10 4ZE and it is licenced by the Information Commissioner's Office, with number Z1498441.
Monevo is a broker, not a lender and it matches a customer's loan application with lenders and brokers from our panel depending on the information provided.
Who are Money Expert?
Money Expert is a full service, 100% independent price comparison website. We have helped over 1 million customers save on utilities, broadband, and loans since we launched in 2003.
We aren’t owned by an insurance or lending company, and will always seek to get you the best loan deal possible. Getting a quote is free, there are no obligations, and it won't affect your credit score!
We endeavour to keep our users fully informed when it comes to taking out a loan. Please read through our handy guides to find the information you need.
Last reviewed: 1 June 2023
Next review: 1 July 2023