![Girl Playing With Plastic Hoop](/media/gwudslkw/girl-playing-with-plastic-hoop.jpg?width=8640&height=2160&quality=80)
Let's be clear.
Transparency is our promise, personal loans without the confusion.
Have you noticed some banks advertise very attractive low rates in their advertising?
The report we commissioned in 2018 uncovered that UK borrowers surveyed feel misled by how Representative APRs (Annual Percentage Rates) in personal loans advertising is used. By applying for a loan based on the Representative APR advertised which is not always the rate they’ll end up getting, it’s cost them an estimated £204 million a year more than initially expected.
At Shawbrook, we’ve chosen to do things differently.
What you see is what you get. It is important to us that you have all the information you need when you’re thinking of applying for a loan and that you do not just make your decision to apply based on an advertised headline rate because not everybody will be offered that rate and we understand that can be very frustrating. When you come to us for a personal loan, we’ll always give you a quote for your guaranteed personalised rate right from the start. This means you’ll have a clear idea of how much the loan will cost you before you decide to apply.
63%*
Proportion of surveyed loan applicants that are dissatisfied with how Representative APRs are used in loan advertising51%*
The minimum percentage of successful loan applicants that a provider has to offer their Representative APR to.83%*
The proportion of customers that expect to be offered the advertised APR if their loan application is succesful.* 1,500 personal loan customers surveyed by the Cebr, 2018
Are consumers being misled by Representative APRs?
The survey conducted by Cebr has revealed that in recent years, there has been a widening gap between Representative APRs advertised by lenders and the actual interest rates lenders offer successful applicants.
The survey of 1,500 personal loan applicants indicated that borrowers are frustrated and want more transparency before applying:
![Young Woman Working At Home Remotely Using A Laptop](/media/canbcsew/young-woman-working-at-home-remotely-using-a-laptop.jpg?width=3840&height=2887&quality=80)
Confused by personal loans jargon?
Our videos will uncover the key information you need to know.
Keeping things clear and simple
With a Shawbrook personal loan, there is clarity from the outset
We’ll give you an instant quote and offer you a guaranteed, personalised rate with no impact on your credit score.
You can apply for a Shawbrook Bank Personal Loan for a variety of reasons.
Customers are our top priority
We’re committed to being fair and transparent with everyone that applies for a personal loan, so this is our promise:
Help
Below are some of the most common queries about our loans
What are unsecured personal loans?
Unsecured personal loans are loans that are not secured against any of your assets, such as your home or car.
These loans are typically for smaller amounts when compared to the amount you could borrow with a secured loan and can be more expensive because of the risk attached to unsecured lending.
However, at Shawbrook, we will give you a clear picture of your guaranteed rate when you apply for a quote so you can decide whether this is the right option for you.
Can I pay a loan back early?
Of course — you have the right to pay a personal loan back early or make an additional monthly repayment under the Consumer Credit Act. But it’s important to know that this may be subject to an early repayment charge.
To discuss your options with a member of our team, please contact us. If you have taken out a loan with us on or after 13th December 2021, you can also log in to your customer portal to contact us: https://myloan.shawbrook.co.uk/.
How do you calculate payments on a personal loan?
Payments on your loan are calculated by considering how much you want to borrow, how long you want to borrow it, and how much it will cost you including any fees. A lender will use the annual percentage rate (APR) on this sum to give you a fixed monthly payment over the duration of your loan.
Some lenders offer an online calculator to help you see what your repayments could look like if you chose to borrow with that specific lender.
At Shawbrook, we believe that personal loan calculators might not accurately reflect what interest rate you’ll get when you apply for a loan. When you use a calculator, this may not be the actual rate you receive, so you won’t have a clear picture of the rate you’ll get and the associated repayments until you apply.
Instead of using loan calculators, we offer you a guaranteed rate through our quote tool, which provides you with a breakdown of your repayment costs based on the actual APR that you’re eligible for. And don’t worry; applying for a quote will not affect your credit score.
For more information, read our guide on why we don’t use loan calculators.
Need more help?
We have a range of information to help you understand our personal loans including how our products work, applying for a loan and getting in touch with our team.
About our loans
![Happy Woman Listening With Headphones And Phone](/media/kbvfwkyd/happy-woman-listening-with-headphones-and-phone.jpg?width=794&height=597&quality=80)
Personal loans insights hub
You’ll find a number of useful guides to support you. From helping to debunk financial jargon to planning and budgeting to turn your dreams into a reality.
![Grass And Chamomile Flowers](/media/5hjn020r/grass-and-chamomile-flowers.jpg?width=794&height=597&quality=80)
About our personal loans
Learn more about our personal loans products.
![Smiling Son Looking At Father While Checking Height At Home](/media/ehnpgdgh/smiling-son-looking-at-father-while-checking-height-at-home.jpg?width=794&height=597&quality=80)
The application process
Here we provide information about our personal loans application process.
Loans to suit all needs
![Boy Stroking English Bulldog While Leaning On Car](/media/razn4b1g/boy-stroking-english-bulldog-while-leaning-on-car.jpg?width=1208&height=403&quality=80)
![Smiling Young Couple Reading Documents At Home In The Kitchen](/media/io5atnos/smiling-young-couple-reading-documents-at-home-in-the-kitchen.jpg?width=1208&height=403&quality=80)
Debt consolidation loans
Round up all your borrowing into one fixed monthly payment.
![](/media/fgunnrdd/gettyimages-1481618862.jpg?width=1208&height=403&quality=80)
![](/media/tc4htoea/man-and-daugher-decorating.jpg?width=1208&height=403&quality=80)
Home improvement loans
Realise your grand designs with a loan of up to £50,000.
Our business
![](/media/dsij2nbq/gettyimages-524863781.jpg?width=794&height=597&quality=80)
About Shawbrook
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
![Two Colleagues Talking Amongst Plants In Green Office](/media/wzllqa2u/two-colleagues-talking-amongst-plants-in-green-office.jpg?width=794&height=597&quality=80)
Sustainability
Our sustainability strategy is designed to create value for our customers, colleagues, communities, suppliers and shareholders, while having a positive impact on society and the wider environment.
![](/media/q43fjay4/20230412_saracens_shawbrookrenewal_rt_0202_edit.jpg?width=794&height=597&quality=80)
Saracens sponsorship
As official banking partner of Saracens Rugby Club, we are proud to champion elite women’s sport by supporting the growth of both women’s rugby and netball as lead sponsor of the Mavericks.