Here’s a list of the cheapest £5000 loan rates I could find, however you should perhaps check out my post about unfair loan rates,  lenders are hitting potential borrowers that do not have a perfect credit history with much higher interest rates.

Sainsbury’s Bank are offering a typical rate of 7.9% APR however this is for loans between £7,500 and £15,000, You’ll also need a Nectar card to get these rates

If you have a  current account with Nationwide you can get  7.7%  for loans of between £5,000 and £14,999.

Marks and Spencer Money has a cashback deal which will repay you 10% of the loan interest if repayments are made  for the full term, tpyical  7.9%.

personal loan.co.uk – part of the Co-op Bank are offering a typical rate of 8% on loans of between £5,000 and £25,000, while Abbey, First Direct, Alliance & Leicester and Smile – are quoting typical rates of 8.9%, however in some cases these rates are for existing customers only.

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