Personal Loan | Apply For Bank Loan In Minutes

Calculate your repayments

I would like to borrow: in pounds

I'd like to have it for:

Representative example

"10000"

Borrowing Amount

"60"

Monthly term

£93.41

Monthly repayments

3.3% p.a

Interest rate (fixed)

3.3 APR

Representative

£7,846.49

Total repayments

We may be able to offer you a better rate if you change the amount you want to borrow or the length of time you borrow for. A small change can make a big difference to how much interest you'll have to pay and the overall cost of the loan.

Find out more about our rates.

If you choose to apply and we offer you a loan, the rate will be based on our assessment of your personal financial circumstances,
including a credit check. This may be higher than the representative APR.

Who can apply?

We only have a few requirements at first direct, so you'll hopefully be able to apply with us. All we ask is that:

you’re 18 or over
you're a UK resident and live permanently in the UK
you have an annual income/pension before tax of £10,000 or more
you have a first direct current account
you haven’t been declared bankrupt or registered for an Individual Voluntary Agreement in the last 6 years (or in the process of doing so)

Personal loans are subject to status. The rate you'll receive depends on your individual circumstances, credit checks and an assessment of your financial situation. The maximum APR you could be offered is 18.9% APR.

Ready to apply?

Apply in minutes with no lengthy forms with the first direct App.

Head to the App to get started.

Scan the QR code to open up the App

Other ways to apply

Online banking

Call us

*Please call us on 03 456 100 199 for joint applications, where you already have 2 or more first direct loans, or where you wish to restructure/consolidate your existing first direct loan.

Lines are open: Mon to Thu 8am to 10pm | Fri 8am to 9pm | Sat 8am to 8pm | Sun 9am to 8pm.

FAQs

How much can I borrow and for how long?

You can borrow between £1,000 and £50,000 with a first direct Personal Loan, which is an unsecured loan account with fixed monthly repayments. The minimum term is 1 year from the drawdown date and the maximum depends on the amount you borrow.

We'll work with you to make sure you can afford what you're borrowing. If there's anything coming up that could increase your outgoings or reduce your disposable income, please give us a call on 03 456 100 199.

This could include:

retiring or taking maternity, paternity or extended leave
reducing your working hours
increases in your living costs, rent or mortgage repayments.

Is there anything I can't use my loan for?

While you can use your loan for almost anything – from hobbies to holidays and those wooden summerhouses every garden has – there are some things we don't offer loans for. This includes:

buying property or land in or outside the UK (including holiday homes and apartments)
buying a joint stake in a property
buying out a joint owner
a mortgage deposit (regardless of the lender or country)
gifting funds to support the purchase of a property, including mortgage deposits, stamp duty and solicitors' fees.

A Personal Loan should be used for legal purposes only and shouldn't be used for gambling, business purposes or sharedealing either. This list isn't exclusive, so give us a call if you'd like to double check something. We’re available 8am-10pm, 7 days a week on 03 456 100 199.

If you're using some or all of the money to pay off, reduce or consolidate other personal borrowing, you should make sure it's right for you before going ahead.

How long does it take to apply and get my money?

It takes less than 10 minutes to apply on our App or online. And once you hit submit, if you're accepted, the money is transferred into your account straightaway.

If you apply over the phone, we still make an instant decision, but it takes a little longer to get the money if you're accepted, as we post a loan agreement form for you to sign and return. As soon as we get this back, we transfer the money into your 1st Account.

Sometimes we’ll need to take a closer look at your application before agreeing to the loan. If that's the case, we’ll let you know and ask you to get in touch if you haven’t heard from us within 48 hours.

Can I make overpayments or settle early?

Yes, you can make overpayments, which could reduce the amount of interest you pay over the term of the loan.

You can also repay your loan in full at any time by giving us notice, either by:

calling us on 03 456 100 199
sending a message via our App or Online Banking
or in writing.

We'll give you a settlement figure, and as long as you pay this in full, we can close your loan account. It’s worth noting that there are some charges for settling early:

for loans with a 12-month term we’ll include a charge of 28 days’ interest as part of your final settlement figure
for loans with a 13-96-month term we’ll included an extra 1 month’s charge, plus 28 days’ interest, as part of your final settlement figure.

You'll then have 28 days to pay this. After this 28-day period you'll need to ask us for a new figure as the amount will change.

How is interest calculated?

At the start of the loan we calculate the total amount of interest payable over the term of the loan (total cost of credit). We also calculate the interest due from each monthly repayment based on the number of days between repayments and the outstanding capital balance. This means we collect a higher proportion of the total interest at the start of the loan – when the capital balance is bigger – and a lower portion towards the end.

If there are delays between repayments then more interest will accrue during that period. For example, this can happen if the payment date you choose is more than one month after the date you sign your agreement, or if you take a payment holiday that isn’t shown in your credit agreement. Although we’ll never charge more total interest than shown on your credit agreement, it could mean that the rebate you get for settling your loan early is lower or could be zero.

The maximum APR you could be offered is 18.9% APR.

Find out more on our loan rates page.

Would a credit card work for you?

If you have a balance to transfer or purchases to make, we could have a credit card to suit you.

Credit cards for balance transfers and purchases

Loans guides

Deciding how to borrow money comes down to what suits you best. Here are some guides you can use to help you make up your mind:

Loan or car finance - what's best for me?

Loans for home improvements

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