Personal loan interest rates and UK credit scores

Your credit history can affect a personal-loan offer, but no universal UK table converts a credit score into an interest rate.

What rate will I be offered?

A lender considers your credit history alongside income, existing commitments, the loan amount and term, and its own lending criteria. A stronger credit history may improve the options available, but a particular score does not guarantee approval or a particular APR.

UK credit-reference agencies use different scoring systems. A US credit-score table cannot be used to predict UK loan rates. A dated average also cannot tell you the price of a new offer today.

Representative APR and your personal offer

A representative APR is an advertising measure: at least 51% of accepted customers covered by the offer must receive that rate or better. Other accepted customers may pay more. It is not a promise that every applicant will qualify.

This is a guidance tool only and not an assessment. For accurate interest calculations, contact the company issuing the credit. Do not rely solely on this calculator’s results.

Compare the total repayable, fees, monthly payment and term for the same amount borrowed. Extending a loan may reduce the monthly payment while increasing the total cost. Check whether an eligibility quote uses a soft search before submitting a full application. See MoneyHelper’s personal-loan guidance.

Why do my credit scores differ?

Experian’s newer consumer score, available directly from Experian, runs from 0 to 1250. Some banking apps may still show its older 0–999 score. Other agencies have their own scales, so the same number need not mean the same thing. Use the explanation supplied with your report, rather than comparing raw scores across agencies. See Experian’s score update.

A consumer-facing score is an indicator, not the lender’s complete assessment. Check the underlying report for incorrect accounts, payment history or addresses and dispute errors with the provider and credit-reference agency.

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Should I keep a loan just to protect my score?

Do not pay unnecessary interest solely to maintain a mix of credit accounts. If you are considering early repayment, ask for a settlement figure and compare it with the remaining scheduled payments, allowing for any permitted charges and money needed for essentials or emergencies.

Paying off a loan does not instantly remove its history from your credit report. The effect on a score varies, and a temporary score change is not the same as being financially worse off.

What if the repayments would be difficult?

Check a realistic budget before borrowing. A new loan may worsen a shortfall if income already fails to cover bills and existing repayments. Ask a free debt adviser to review your options if you are struggling.

Make agreed payments on time where possible and speak to the lender early if you cannot. Avoid repeated full applications in a short period, and do not take more credit simply to reach an arbitrary utilisation target.