Due to COVID-19 many of our lenders have reduced or stopped accepting new customers, which may result in less options in your comparison results. If you're worried about the impact of COVID-19 on your finances, have a look at our Financial Health and Money Tips.


12 month loans.

Apply now and get an instant decision from UK direct lenders.

Compare lenders that have accepted your application. 




star rating

8.1 out of 10

no fees

no fees, ever

Find your cheapest loan in 2 minutes.

Representative 99.8% APR (fixed). Representative example: If you borrow £500 over 52 weeks at a Representative rate of 99.8% APR and an annual interest rate of 99.8% (fixed), you would pay 52 monthly instalments of £13.41. The total charge for credit will be £197.32 and the total amount payable will be £697.32.

12 Month Loans

What can I expect from a 12 month loan?

If you’re looking for a 12 month loan, you may be looking to consolidate a number of smaller loans to reduce the cost of your monthly repayments or to borrow higher loan amounts. Either way, it’s a good idea to get the facts straight before you apply.

Various lenders offer 12 month loans for anything from £100 to £5,000+ over 12 months. Generally though, 12 month loans tend to be £1000 and over.

You can often apply for a loan and receive your funds online without having to visit a branch. Depending on your credit history, affordability and the lender you’re applying to, your funds could be in your account within the same day of application.

12 month loans are on offer from a variety of lender types; including banks, payday loan lenders and guarantor loan lenders. So there are plenty of options out there to meet your needs.

If you're looking for a loan to pay a regular bill like council tax or your mortgage, then borrowing more is not the answer. Get free advice at the Money Advice Service.

Can I get a 12 Month Loan with Bad Credit?

Although more expensive than the rates offered by the banks and supermarkets, there are bad credit 12 month loan options out there, just make sure you meet their criteria and that you can afford the repayments before you apply. Overstretching your finances means you’ll be more vulnerable to falling behind on your repayments which can cause serious money problems.

If you find it hard to keep track of your spending and income, use our budget planner to map out your income and expenses.

Can I pay back the loan early?

Some lenders will let you pay back your loan early, without charging you any fees. If this is the case, you could save money as you’ll be paying less in interest. However, some may have fees or other restrictions for early repayment. Bottom line, if you’re planning to repay your loan early, check with your lender before you apply.

Finding the Best Deal

Finding the best loan for you doesn’t have to be a nightmare! Use the Choose Wisely comparison table above to get started on your journey. You can find out how eligible you are for loans from multiple providers using our Eligibility Checker and it won’t affect your credit score!

Final Word

A loan repaid over 12 months can be a great way to help you successfully recover from a financial emergency or provide access to a larger loan amount. But as always, know where you stand, compare your options and Choose Wisely.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk