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First Direct Personal Loans Overview

First Direct logo
The table below offers a snapshot of First Direct personal loans. Whether you’re applying to cover expenses like a holiday or home improvement, First Direct can help.

How much will a loan from First Direct cost? Use the First Direct personal loan calculator to calculate your estimated monthly repayments. You can adjust the amount and the term to your liking until it matches your budget.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

First Direct personal loans review

A personal loan from First Direct could help you consolidate your debts, make home improvements or take that dream holiday.

First Direct loan features

  • Loan amount. £1,000 to £50,000.
  • Fixed rate. 3.3% to 21.9% annual percentage rate, depending on your status.
  • Loan term. One to eight years.
  • Overpay option. You can increase your monthly repayment amount, which will will reduce the interest you pay overtime
  • Debt consolidation option. Consolidate your debt and save money with a lower interest rate.

How to apply for an First Direct personal loan?

You can apply either online or by phone. You may receive approval in a matter of minutes if applied through the lender’s app. However, this may depend on your personal circumstances. You are eligible to apply if you are:

  • 18 years old or older
  • A permanent UK resident or UK citizen
  • Receiving an annual income of £10,000 or more
  • Not declared bankrupt
  • Not registered for an Individual Voluntary Agreement in the last 6 years

Aside from the criteria above, the bank will also assess your credit history. Your financial status determines the rate that will be offered to you.

What you’ll need:

This personal loan is only offered to those current account holders of First Direct. To open an account, you need to present a certified copy of any of the following:

  • Passport or ID document
  • UK driving licence
  • National identity card

First Direct current account holders need only to prepare their mobile banking details upon application.

First Direct personal loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£20,000

Term

3 months

Change
First Direct

First Direct personal loans (5,000 - 29,999)

First Direct personal loans (5,000 - 29,999)
EST Monthly Repayment
£584 Inclusive of fees
EST Monthly Repayment
3.30%
APR
EST Monthly Repayment
12 months
to 84 months
EST Monthly Repayment
£5,000
to £29,999
Go to site
Make bigger purchases more manageable with a Personal Loan at 3.3% APR representative. Apply via the App or Online Banking and you could get the money in minutes.
Featured
Nationwide

Nationwide personal loans (7,500 - 25,000)

EST Monthly Repayment
£581 Inclusive of fees
Interest Rate
2.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Go to site
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Featured
Santander

Santander personal loans for £7,500-£15,000

EST Monthly Repayment
£582 Inclusive of fees
Interest Rate
3.00%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
Go to site
You are eligible if you’re 21 or over and live in the UK permanently, you have a regular yearly income of £6,000+, you are able to make your repayments by Direct Debit, and you haven’t been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Featured
HSBC

HSBC personal loans (15,000 - 25,000)

EST Monthly Repayment
£590 Inclusive of fees
Interest Rate
3.90%
APR
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Go to site
Make your plans a reality with a personal loan with fixed monthly payments, an instant credit decision, quick access to funds and no arrangement fee.
Featured
Barclays

Barclays personal loans (15,000 - 24,999)

EST Monthly Repayment
£616 Inclusive of fees
Interest Rate
6.80%
APR
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
Go to site
When it comes to putting your plans into action, it’s personal. And with a personalised loan just a few clicks away, getting things moving could be simpler than you think. Get your loan rate before you apply – without it affecting your credit score.

BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.

Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

First Direct FAQs

How does a First Direct debt consolidation loan work?

You can choose to apply for debt consolidation with First Direct to combine your multiple loans from other lending institutions. Taking debt consolidation as an option to finance any business venture is not allowed.

Can a First Direct personal loan be paid early?

Absolutely. But keep in mind that you will be charged one month of interest on the settlement figure, if you choose to close your account early.

How fast can I get my money once my First Direct loan is approved?

Typically, your loaned amount is credited to your First Direct account immediately if you applied through its mobile banking app. Those who applied through phone or by mail may have to wait a little longer. This is because you still need to sign a loan agreement form that will be sent to you. Once signed, you need to send it back to the bank.

Learn more about First Direct in this video

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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