Lenders Compared: Site Traffic Rankings & More (Data Updated for Jan 2018)

Best 12 Month Loans for Bad Credit | Compare Personal Loan Lenders

Best 12 Month Loans for Bad Credit. Compare Personal Loan Lenders
Best 12 Month Loans for Bad Credit Online…

Sample Listing:
Brand & Launch Year | Alexa Rank (UK, Global)
– Opening Hours (NS = Not Shared)
– Terms (Repayment Options) | Sums (+Reloan Cap in Brackets)
– The Charge of a 12 Month £1000 Loan. Sometimes Example Is NA (Not Available)
*Any Supporting Notes.

List of Personal Loan Lenders 2018 Ranked by Web Traffic

1) Zopa (2005) | #3780
Zopa Loans
– Mon/Thu (9am-5.30pm), Fri (9am-5pm)
– 12m-60m | £1000-£25,000
– £60.24
*Must be 20+. The Fast-Track fee (£10) is included above.

2) RateSetter (2010) | #5494
RateSetter Loans
– Mon/Sat (9am-6pm)
– 6m-60m | £500-£35,000
– NA
*Must be 21+. No estimate due to hidden costs.

3) Sunny (2004/2013) | #11,341
Sunny Loans
– Mon/Thurs (8.30am-7pm), Fri (8am-5pm), Sat/Sun (10am-3.30pm)
– 6m-14m | £100-£2500
– NA
*No price (req £2100+ and settle early from 14m). Rebranded from 1 Month Loan.

4) SafetyNet Credit (2014) | #13,385
SafetyNet Credit Loans
– Mon/Fri (8am-7pm), Sat (9am-5pm)
– 1d-12m+ | £100-£500
– *£160 (£500)
*24/7 reloaning. From limit can draw £20+. Hypothetical = £320. Their cap has been reached here.

5) MyJar (2009/2013) | #18,503
MyJar Loans
– Mon/Fri (8am-8pm), Sat (8am-6pm), Sun (9am-6pm)
– 3m-12m | £100-£3600
– £804.52
*24/7 reloaning. Rebranded from TxtLoan.

6) Satsuma Loans (2013) | #21,857
Satsuma Loans
– Mon/Fri (8am-8pm), Sat (8.30am-5pm)
– 3m-12m | £100-£1000 (£2000)
– £990.04
*Weekly repaid shown. Monthly is £992.

7) Hitachi Personal Finance (2013) | #25,363
Hitachi Personal Finance Loans
– Mon/Fri (8.45am-7.30pm), Sat (8.45am-12pm)
– 24m-60m | £2500-£25,000
– NA
*3.1% APR for £7500-£10,000. No price (req £2500+ and settle early from 24m).

8) Pounds to Pocket (2010) | #33,819
Pounds to Pocket Loans
– Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)
– 6m-12m | £200-£2000
– £899.45-£907.40
*New customer promo code factored.

9) Likely Loans (2013/2014) | #34,700
Likely Loans
– Mon/Fri (8am-8pm)
– 12m-60m | £500-£5000
– £278
*Rebranded from GuarantorUs.

10) Lending Works (2012) | #35,412
Lending Works Loans
– Mon/Fri (9am-5.30pm)
– 12m-60m | £1000-£25,000
– NA
*No estimate due to hidden costs.

11) 118 118 Money (2013) | #35,459
118 118 Money Loans
– 24/7
– 12m-24m | £1000-£5000
– £176-£428
*24/7 reloaning.

12) Bamboo Loans (2014) | #43,795
Bamboo Loans
– Mon/Fri (8am-8pm), Sat (9am-2pm)
– 12m-60m | £1000-£5000 (£8000 for guarantor)
– £235.72
*Existing times differ as Mon/Thu (8am-8.30pm), Fri/Sat (9am-5pm). Guarantor may be required.

13) Peachy (2011) | #50,388
Peachy Loans
– Mon/Fri (8am-8pm), Sat/Sun (10am-6pm)
– 1m-12m | £100-£1000
– £950.67
*Non.

14) AvantCredit (2013/2015) | #52,945
AvantCredit Loans
– Mon/Sun (9am-6pm)
– 12m-60m | £1000-£20,000
– £205.22
*Rebranded from SpringCoin.

15) Drafty (2016) | #55,235
Drafty Loans
– Mon/Sun (7am-10pm)
– 1d-12m+ | £50-£3000 (£5000)
– £657
*24/7 reloaning. After initial £50 draw can request £20+.

16) Lendable (2014) | #55,885
Lendable Loans
– Mon/Fri (9am-6pm)
– 12m-60m | £1000-£15,000
– £56-£92
*Non.

17) H&T Pawnbrokers (1897) | #58,825
H&T Pawnbrokers Loans
– Mon/Fri (9am-8pm), Sat (9am-5pm), Sun (10am-2pm)
– 3m-8m or 18m-36m | £100-£1000
– NA
*No 12m term. Web product was launched in 2015.

18) Oakam (2007) | #77,675
Oakam Loans
– Mon/Fri (8am-7pm), Sat (9am-6pm)
– 3m-36m | £200-£1000 (£5000)
– *£789.06 (£2000) | £943.63
*Hypothetical = £394.53. The first example is Oakam’s Lift product.

19) Everyday Loans (2006) | #87,887
Everyday Loans
– Mon/Fri (9am-6pm), Sat (9am-12pm)
– 24m-60m | £1000-£15,000
– NA
*Must complete in person. No price (must settle early from 24m).

20) On Stride Financial (2014) | #88,971
On Stride Financial Loans
– Mon/Fri (9.30am-6pm)
– 12m-24m | £1000-£3000
– £385.88
*Non.

21) George Banco (2013) | #94,867
George Banco Loans
– Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (9am-3pm)
– 12m-60m | £1000-£5000 (£7500 for guarantor)
– £285.56
*Existing times differ as Fri (9am-5.30pm), Sat (9am-1pm). Guarantor may be required.

22) Street UK (2000) | #114,739
Street UK Loans
– Mon/Fri (9.30am-5pm), Sat (9.45am-3pm)
– 12m | £200-£1000
– £438.80
*Must complete in person. West Midlands only.

23) 1st Stop Personal Loans (2004) | #123,677
1st Stop Personal Loans
– Mon/Thu (8.30am-7pm), Fri (8.30am-5.30pm)
– 24m-72m | £2000-£15,000
– NA
*Must be 21+. No price (must settle early from 24m).

No Alexa UK Ranking (Sorted by Global Rank)

24) The Quick Loan Shop (2012) | #1,854,040
The Quick Loan Shop Loans
– Mon/Fri (NS)
– 1m-12m | £100-£2000
– £957.20
*Non.

25) Nextcredit (2012) | #3,201,869
Nextcredit Loans
– Mon/Fri (8am-8pm), Sat (9am-1pm)
– 1m-12m | £100-£1000
– £1000
*Non.

26) Dot Dot Loans (2017) | #3,228,460
Dot Dot Loans
– Mon/Fri (8.30am-6pm)
– 3m-9m (12m) | £100-£600 (£1250)
– £970
*12m on reloans only.

27) Savvy (2013/2014) | #3,607,472
Savvy Loans
– Mon/Thu (8am-7pm), Fri (8am-5pm), Sat (10am-2pm)
– 6m-24m | £200-£3000
– *£499.96 (£500)
*Hypothetical = £999.92. Rebranded from Valour.

28) Fair Finance (2005) | #3,774,938
Fair Finance Loans
– Mon/Fri (9am-5.30pm)
– 6m-18m | £100-£1000 (£3000)
– £461
*Weekly repay is £494 (monthly shown). Must complete in person.

29) In-Sync Credit Services (2017) | #4,945,917
In-Sync Credit Services Loans
– Mon/Thu (8.30am-6pm), Fri (8.30am-5pm), Sat (9am-1pm)
– 1m-12m | £150-£350 (£1000)
– £979.76
*Available on reloans only.

30) Auden (2014/2017) | #5,725,523
Auden Loans
– Mon/Fri (9.30am-5.30pm)
– 7d-12m | £200-£400 (£1000)
– £734.76
*Rebranded from Uberima. Weekly repaid shown. Monthly is £750.03.

31) Fast Loan UK (2010) | #6,463,237
Fast Loan UK Loans
– Mon/Sun (9am-5pm)
– 1m-12m | £50-£600 (£2000)
– NA
*New users capped at 8m. Reloan customers must login for price.

32) Maxcroft (1976) | #7,752,377
Maxcroft Loans
– Mon/Fri (9am-6pm), Sat (9am-5pm)
– 8m-36m | £500-£5000
– £419.96
*Must complete at their Essex branch.

33) Juo Loans (2017) | #11,970,552
Juo Loans
– Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)
– 12m-36m | £1000-£3000
– £435.90
*Guarantor loan option.

34) Tappily (2017) | #16,611,876
Tappily Loans
– Mon/Fri (8am-7pm), Sat (9am-5pm)
– 1d-12m+ | £100-£2500
– £255
*24/7 reloaning. From limit can draw £20+. Their cap has been reached here.

No Global Rank

35) Kabayan Finance (2010)
Kabayan Finance Loans
– Mon/Fri (9am-5pm), Sat (10am-2pm)
– 1m-12m | £100-£1000
– £905
*Non.

Distorted Alexa UK Ranking (See Notes)

NA) Admiral Loans (2016) | #1195
Admiral Loans
– Mon/Fri (8am-8pm), Sat (9am-5pm)
– 12m-60m | £1000-£25,000
– £149
*3.1% APR for £7500-£15,000. Not listed due to majority insurance visits.

NA) Creation (1973) | #5133
Creation Loans
– Mon/Fri (8.30am-8pm), Sat (9am-6pm)
– 12m-60m | £1000-£25,000
– £101.72
*Must be 23+. Not listed due to majority credit card visits.

Not Listed:
*Appro Loans isn’t listed since their site acts as an application gateway for Likely Loans.
*Recent closures since our past update include Payday Express and PaydayUK. The Money Shop has also been removed since they now only provide in-store funding that stops at 6 months.

Notes:
*Alexa rankings are displayed to demonstrate market share.
*Hypothetical examples are marked if £1000 isn’t selectable. Sometimes a £500 sum for instance had to be doubled.
*Select lenders have minimum term of 2 years. We included these since they offer early settlements.
*The traffic data was last updated on January 5th, 2018.



Cheapest 12 Month Loans (Charge + Daily Rate to 3DP)

Bad Credit (£1000 Cost)
1) Likely Loans (£278 | 0.076%)
2) SafetyNetCredit (£320 | 0.088%)
3) Oakam (£394.53 | 0.108%)

Fair Credit (£1000 Cost)
1) AvantCredit (£205.22 | 0.056%)
2) Bamboo (£235.72 | 0.065%)
3) Tappily (£255 | 0.070%)

Good Credit (£1000 Cost)
1) Lendable (£56 | 0.015%)
2) Zopa (£60.24 | 0.017%)
3) Creation (£101.72 | 0.028%)

Notes:
The best prices have been sorted across 3 tiers that includes bad, fair and good. We have scrubbed lenders from here if complete costs could not be confirmed. Some P2P firms for instance have hidden fees. There are a few companies that offer a back-up guarantor option as well as a standard unsecured loan that would require tip-top credit. Any guarantor rates are not counted. Oakam’s example (Lift) is based on £2000 being split, whilst SafetyNetCredit’s is doubled from £500.

About

This comparison’s target was the 12 month loans niche that is made up of a large quantity of personal loan providers. Some are prime offerings made to compete with the leading banks whilst you then have the subprime lenders who are usually also targeting payday and instalment terms. Regardless of qualification criteria, the speed to payout often tends to be much slower due to extra underwriting. The contracts are unsecured on sizeable sums and so they need to be extra careful. Some may provide quick e-sign options, but you need to keep a look out for opening hours that may only be standard working hours. Weekend trading is always important to factor.

When you need to consolidate debts or renovate the house the obvious choice would be to head to your bank. The best rates tend to float on that side, but as we all know the banks are very picky. Some of the prime focused companies on this page are designed to rival the banks. This is especially the case with the P2P giant Zopa. There are some companies featured who focus on fair profiles such as AvantCredit and On Stride. We then have the bad credit 12 month loan lenders. In a future comparison we’ll explore guarantor lenders who also cover this term and we’ll also look at the banks to see how their value compares.

Pros and Cons

(+) Spreading a balance across a year helps to devise small and more manageable repayments. Some providers may even offer a few years to do achieve this further. There is tons of choice in this sector as you’ll see from the quantity of providers listed today. With so many firms in operation you see a great spread of interest rates. The actual daily interest over a year is always very low, especially if your past borrowing measures up well with the CRAs used by the providers. The costs do however certainly ramp up with subprime lenders like MyJar. What’s great about them though is the ability to access funding 24/7.

(-) Daily interest is lower over a year, but there is a big gulf in value when you use the bad credit 12 month loan lenders. Their common costing is £750 to £1000 per £1000. The daily interest range here is 0.205% to 0.274% that is much lower than 0.800% for the payday cap, but even still £750 seems extreme when you see that Zopa asks for £60.24. The truth is that most of the reasonably priced loan providers featured today will decline any application where there has been any hiccups. If you have been recently declined then it may be advised to consider guarantor products where a backing could lead to a decent deal of around £230.

The Best Personal Loan Alternatives?

Credit Card: This is more geared towards those who won’t have trouble getting accepted from the many compared companies today. The idea would be to borrow funds on 0% purchase credit cards for X amount of months and then move around using balance transfers. More active moving would be required for no transfer fee cards that have smaller introductory periods. The main obstacle with going down this route is that you may not qualify for a substantial amount. The premium cards offer higher sums, but these don’t tend to come with deals. Subprime cards from Capital One, Vanquis etc are worth checking out, but the limits do start off very small.

Guarantor Loan: This is a great choice for anyone with poor credit since the scoring is undertaken on the guarantor rather than the applicant. Another key benefit is that these firms on average lend for 5 years that hands the ability to spread the costs out much further. Higher borrowing sums are also available and the pricing is reasonable at around 50% APR. Anyone with a favourable credit score should just apply for the top competitive deals or go for a low rate card.

Last Updated: January 5th, 2018.