Personal loan calculator
Find out how much you can afford to borrow with our handy personal loan calculator!
Personal loan example
Take a look at a realistic example of a personal loan with Moneywise:
Amount to borrow: £1,500
Repayment rate: 18 months
Monthly repayments with Moneywise: £109
Interest: £466
Total to repay: £1,966
Apply now with Moneywise
Why choose Moneywise?
At Moneywise, we understand the positive financial effects of a fair, realistic personal loan. As a Credit Union, we are run by our members, giving us a further understanding of the need for affordability.
Our personal loans allow you to spread the cost of a big purchase or create a financial buffer before payday. Simply borrow what you need from us, select your repayment terms, then pay off your Credit Union loan in simple monthly instalments. It’s that easy!
Enjoy multiple benefits with a Moneywise personal loan:
- Borrow up to £15,000*.
- Competitive interest rates.
- No hidden fees and no early or late repayment fees.
- Designed to support you – fair, realistic and affordable.
- Help and support available at our branches across the North East.
Loan eligibility explained
If you’re looking to apply for a personal loan with Moneywise, you must:
- Be 18+
- Be a Moneywise member (or sign up now)
- Work or live within the North East of England
- Have a Moneywise savings account
- Agree to our Credit Union loan rules.
Our personal loans are still available:
- If you’re unemployed*
If you are unsure whether you are eligible for a personal loan with us, the friendly Moneywise team is here to help. Or, check out our other loan types – whether you are looking to support your family or consolidate your debt, we’re here for you.
What are you planning on using your loan for?
As long as you are able to make your monthly loan repayments, your personal loan can be used for anything!
From paying for life events, like holidays and weddings, to essentials – like groceries or car payments – Moneywise personal loans are here to support you.
Personal loans can also offer a helping hand when it comes to the rising cost of living, giving you financial breathing space to buy the essentials or take care of emergencies, then pay off your loan on payday.
Apply for your personal loan today, and we’ll take care of everything.
Things to consider when taking out a personal loan
There are a number of questions to ask yourself before applying for your personal loan:
- Repayment schedule – Are the loan terms you have selected realistic for your financial situation? You must be able to make your monthly payments.
- Personal loan interest rates – Do you know how much interest you will need to pay? Our personal loan calculator works this out for you!
- Fees and charges – Moneywise loans carry no hidden fees and no early or late payment fees. Do you have any other debts with lenders that do carry extra fees?
Overall loan amount – Do you know the maximum amount you are able to borrow? The amount you are able to borrow with us will be based on your previous borrowing history with Moneywise.
Apply for your personal loan today, and we’ll take care of everything.
Personal loan FAQs
First-time loans couldn’t be simpler with Moneywise. Apply now using our simple online portal.
As long as you have a Moneywise membership, you can borrow up to £15,000 with our personal loans.
We do run a simple credit check when you apply for one of our personal loans. If you are concerned about your credit history, get in touch with our friendly Moneywise team today to discuss your options.
No. We will likely run a soft credit check, but this should not affect your credit score.
However, if you’re unable to meet your monthly repayments towards your personal loan, you credit score will be affected. Always check whether you can afford your loan repayments, plus interest, before applying.
This will depend on your individual financial situation. However, the average wait time is 3-5 working days.
Yes, we don’t charge any early repayment fees at Moneywise. Simply give our team a call on 0330 165 5337 to pay your loan off early.
Missed payments? Don’t panic! We don’t charge late fees for irregular missed monthly repayments.
However, if you are regularly struggling to keep to your monthly payment schedule, our friendly Moneywise team is here to provide support. We understand that managing finances can be tricky, so we will do our best to help.