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Borrow £5,000 over 3 years

Top tips on applying for a loan of £5,000 to be repaid over three years, to make sure you get the best deal.

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Personal loans for £5,000 over 3 years

Do you need a personal loan for £5,000 over 3 years? Many UK households are now taking out personal (or unsecured) loans – not including mortgages, the average debt of these households is now over £18,600 (according to Credit Action), which means the lenders are making a huge profit from interest payments, but you can minimize the interest you pay by following a few simple tips.

Do you really need £5,000 over 3 years?

You should always borrow as little as possible, over as short a time as you can manage. Personal loans can be expensive, so make sure you’ve budgeted well and you won’t be borrowing £5,000 for longer than you have to. This will cut down your interest payments in the long term.

Have you compared your loan options?

If you need a personal loan for £5,000 over 3 years, you’ll need shop around to find out which lenders offer the best deals. Look at the interest rate (APR) and the amount you’ll pay back in total, but don’t forget to check for other fees and charges. Will you have to pay for settling the loan early? Will you have to pay an arrangement fee? Complete the form above and our personal loan experts will tell you everything you need to know.