24 month loans.

24 month loans are generally for larger loan amounts, most commonly used for expenses like home improvements, debt consolidation or a new motor. Either way, it's important to get your facts right before applying.


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Representative 49.7% APR. Representative Example: Amount of credit: £1,200. Interest rate: 0.34% per day for up to 75 days (25.5% (variable) per annum). Representative 49.7% APR (variable). For example, if you borrow £150 for four days, the interest per day would be £0.51 and the total interest would be £2.04 representing four days at £0.51 per day.
Choose Wisely is a trading style of Choose Wisely Limited and is a free to use price comparison website. Choose Wisely Limited is authorised and regulated by the Financial Conduct Authority as a credit broker not a lender, firm reference number 730574 and is registered with the Information Commissioner’s Office number Z3106681.

A quick, easy way to get a 24 month loan today.

  • Borrow from £300 to £25000.

  • Choose between lenders who have accepted your application.

  • Absolutely no fees, ever.

Representative 49.7% APR.

How to get a 24 month loan in 3 simple steps.

Affordability assessment.

1 form - takes 2 minutes to complete and your data is 100% secure.

Compare products.

Choose from lenders that have accepted your application.

Speedy finance.

If approved, the cash can be in your account in as little as 15 minutes.[†]

Table of contents

Written by Andrew Freelander
Read time: ~5 mins
Published: 13th July 2018 Updated: 9th September 2020

What can I expect from a 24 month loan?

With 24 month loans, you can expect the loan amounts on offer to be north of £1000, with some banks offering as much as £25,000.

Can I get a 24 month loan with bad credit?

If you’ve got bad credit and you’re looking for a larger loan, repaid over longer than 12 months then you still have options. Some longer term loan options for bad credit will require you to have a guarantor, so bear that in mind. If accepted for a guarantor loan, it is likely that you will have to pay a higher APR than those offered by the high-street banks and supermarkets.

of thumb when it comes to finding a loan is to first know where you stand. The Choose Wisely loan search tool is a great place to start and get an idea of suitable lenders to compare.

Can I get a 24 month loan if I have a CCJ?

There are lenders who will consider your application if you have a CCJ, as long as you can afford to make the repayments.

Will I get an instant decision if I apply online?

If you complete a loan search on Choose Wisely, within seconds you will be presented with a comparison table of lenders. This will allow you to compare lenders who have accepted your application in principle. Once you’ve compared your options, you can then visit the website of your chosen lender,complete your application and if accepted, sign your credit agreement. On submission of a full application the lender will give you a final decision instantly. Be aware that when you apply with your direct lender of choice, you will be credit checked.

What is the cheapest 24 month loan if I have poor credit?

When looking for a loan, particularly if you’re facing financial difficulty, make sure you do your research before applying. The cheapest option if you have bad credit may be a guarantor loan. The reason being is that if you have a guarantor to support your application, this limits risk for the lender and they can afford to charge you less in interest.


Is it free to use Choose Wisely to find a 24 month loan?

Yes. Choose Wisely never charges any fees to its customers. We can do this because some lenders will pay us a commission if you are successful in finding a loan with them.

Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.

The quickest way to find the best 24 month loan for you.

No obligation. 100% secure.

Important Information.

All of the information in this guide is correct at the time of writing.

Rates shown are quotes based on your personal circumstances, are subject to status and are available to those aged 18 and over. Rates available range from a minimum of 3.9%APR to a maximum of 1575%APR Representative and loan repayment periods range from 3 to 60 months.

[*][†] Once accepted, your loan can be transferred to you in as little as 15 minutes. The time that it takes for the loan to show in your bank account will depend on your lender and your bank.

If you need financial advice you can visit stepchange, speak to citizens advice, call the national debtline or speak to moneyhelper.org.uk.

If you've been declined, please refer to your credit report to gain an understanding of why before making further applications.
Your score can be accessed for free via any of the main credit reference agencies such as Credit Karma, Clearscore or Experian.

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