RateSetter Loans

APR: 3.9% Representative
Loan amount: £500 - £35,000
Repayment duration: 12 - 60 Months
Apply What to check
Contact RateSetter Loans

RateSetter Loans customer reviews

4.9 out of 5 from 5946 reviews

fast fair

14:36 22-01-2014

Imagevia Choose Wisely

I have a credit card with my bank with an unused 4.5k limit, a car on finance with no missed payments a mortgage with 40 equity and an unused £1500 overdraft facility yet i still couldn't get a bank loan with them, rate setter took less than 24 hours to source me a 7k loan and i had the funds the very next day very straight forward, pay more pay, less pay lump sum, pay off early with no extra hidden charges low 6% interest.... win win situation.

christopher thornthwaite

Fantastic Lender

20:02 20-11-2017

Imagevia Smart Money People

It was so easy using ratesetter for my personal loan and the rates are very low and very competitive

Frank O Regan

Fast, fair and forthright

16:57 22-06-2013

Imagevia Choose Wisely

Despite having an above average credit score I struggled to borrow money because I foolishly have no unsecured debt! RateSetter came to my rescue and lent me 3,000 for a new car. Not only that but it was significantly cheaper than my bank of some 20 years. It was easy and fast and the representative who called me up was from a UK call centre. Highly recommended.

Peter Nixon

Words well and good website

19:41 08-11-2017

Imagevia Smart Money People

Product works well and reasonably well explained.

James Bellarby

Super Easy

15:52 24-09-2012

Imagevia Choose Wisely

Found them on Money Supermarket, took 1/2 working day to respond and money was in account the next day. When i called them to confirm i went straight through to a real person, no selecting numbers etc. Most brilliant I'd say.


Simple Borrowing, Made Simpler.

10:18 24-08-2017

Imagevia Smart Money People

RateSetter make the process of Borrowing 10x easier than it will ever be with a bank. An all round star company with great customer service and great rates.

Gary Jones

Very good, indeed

11:54 01-08-2012

Imagevia Choose Wisely

I applied for a £12k personal loan with Ratesettler and it took less than 48 hours for the money to be in my account. Borrowing from a bank would have taken me at least three time the amount and a good deal of useless calls and correspondence exchanges. The fact that the interest generated does not go to a bank but to savers is a benefit. I recommend the service without reserve. Alex


Top Notch Lender!

16:44 15-08-2017

Imagevia Smart Money People

I cannot fault Ratesetter in anyway. My loan was approved with hours at a fantastic rate that would leave other lenders bewildered!

Mahesh Amin

Best Lender by far

20:02 22-06-2012

Imagevia Choose Wisely

Got turned down despite good credit history by tesco, tried ratesetter as it doesn't impact my credit score and got accepted the day after (Thurs) money arrived Friday.Amazing service


Low rate loans extremely quick and easy

10:26 15-08-2017

Imagevia Smart Money People

low rates easy access no charges for quick payments and no hidden charges on loan efficient and manageable repayments highly recommend unlike some of these companies out there that basically want to steel from people good service and I would certainly use again if required. Thank you Ratesetter for your help & support


Our review of RateSetter Loans

Our review by Alex
Written by: Alex
Consumer sentiment


RateSetter offer peer to peer lending and match borrowers to investors based on the amount they are looking to borrow, their personal circumstances and the rate of interest they are able to pay back. To apply with RateSetter you will need to have good credit history – this is checked during the application process and will go towards deciding the interest rate and amount you are able to borrow. Although their representative APR is competitive, watch out for the fees that RateSetter charge. They have both administration and Credit Rate fees that depend on how much your loan is, your credit rating and how long the loan term is – one positive is that these fees are not charged upfront, instead they are spread alongside the monthly repayments so just beware.

RateSetter have done a great job so far and at the time of writing have earned a score of 9.8 out of 10 on TrustPilot. Customers appreciate the hassle free nature of the application, the speed of payout, affordability of the monthly repayments and no penalties for settling the loan early. On Choose Wisely their score is a whopping 4.7 out of 5, again highlighting the positive experience that customers have had.

Overall verdict: If you have good credit and don’t mind that your loan comes from an investor rather than a bank, then RateSetter could be a lender worth researching. Their competitive interest rates and positive reviews across the board suggest that this peer to peer lender have their process sorted. When applying with Ratesetter just take note of their fees - they are included in your monthly repayments and the APR quoted, so it’s unlikely you’ll notice them. However, their inclusion can make borrowing with Ratesetter a slightly more expensive option than borrowing with some of the other good credit lenders.  


  • Peer-to-peer style of lending
  • Soft credit check that doesn’t leave footprint
  • Loan could be in your account within 24 hours
  • No fees for overpayments or early settlements

Minimum criteria

  • You must be over 21
  • You will need to have a UK bank or building society account
  • You must have been a UK resident for over 3 years
  • You must have a regular income
  • You must have good credit history


  • Maximum APR 29.9%
  • Arrangement fee: £5
  • Early repayment fee: £0
  • Late payment fee: £10

RateSetter Loans Customer Question & Answers

Have a question for RateSetter Loans?
Be the first to ask a Question

RateSetter Loans on Twitter

What RateSetter Loans are tweeting

What everyone is tweeting about RateSetter Loans

About RateSetter Loans

RateSetter are a peer-to-peer lender that offer borrowers loans between £500 and £35,000 to pay back over a loan term of one to five years and their representative APR is between 3.9% and 29.9% depending on personal information. Unlike most other lenders, RateSetter isn’t financed by a bank or financial institution, instead investors provide the money that customers borrow and they then receive interest on their investment. When applying for a loan with RateSetter there is an administration and Credit Rate fee, these depend on how much you are looking to borrow, your credit file and the loan term. These fees are not charged upfront, instead they are added to the monthly repayments.

The entire application process takes place online and the initial quote takes under 10 minutes. Once the credit check has taken place you’ll be provided with the amount you are able to borrow and the interest rate which only takes one day, RateSetter will then match you to your investor and the funds will be available to you the day after you have been matched. If you need the loan earlier then you can pay £15 for a faster payment transfer.

Their online management system allows customers to make additional payments, increase the monthly instalments or settle the loan early – there are no charges for any of these.

This profile has been claimed
Provider last seen: 2:12pm 5/3/2018
Product data last updated: 9:18am 21/2/2018
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk