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RateSetter Personal Loan
RateSetter has ceased accepting new applications as of 2026, marking the end of its peer-to-peer lending services. Existing customers will continue to receive support for their loans.
RateSetter Personal Loan
Updated 10 minutes ago| APR | Amount | Term |
|---|---|---|
| 6.5–25.9% | £500–£25,000 | 6–60 mo |
Requirements
18+
UK resident
Regular income
Decision
Same dayOur Verdict
RateSetter has ceased accepting new applications as of 2026, marking the end of its peer-to-peer lending services. Existing customers will continue to receive support for their loans.
✅ Best For
This product was previously suitable for UK residents seeking personal loans with flexible terms and competitive interest rates, but it is no longer an option for new borrowers.
⚠️ Watch Out
Potential applicants should be aware that RateSetter is no longer operational for new loans, meaning there are no current offerings to consider.
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About this loan
Expert Analysis
Once a prominent player in the UK personal loan market, RateSetter has officially wound down its peer-to-peer lending platform as of 2026. This closure means that while existing loan holders will still have their loans serviced, new borrowers are no longer able to apply for loans. Previously, RateSetter provided loans between £500 and £25,000 with an APR ranging from 6.5% to 25.9%, catering primarily to individuals aged 18 and over with a regular income.
The quick same-day approval process was a notable advantage for those needing immediate financial assistance. However, with the platform's closure, potential borrowers must now seek alternatives in the crowded personal loan market. Competitors such as Zopa and LendingWorks continue to offer similar services, albeit with varying terms and rates. Overall, RateSetter's exit from the market is a significant shift, and individuals looking for personal loans will need to explore other options to meet their financial needs.
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1-2-3 account for best rate
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Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.
Similar options
APR
5.1–30.5%
Amount
£500–£25k
Term
3–60mo
APR
3.9–24.9%
Amount
£1k–£50k
Term
12–60mo
APR
5.9–24.9%
Amount
£1k–£25k
Term
12–60mo
APR
5.5–19.9%
Amount
£1k–£25k
Term
12–60mo
Santander Personal Loan
PersonalUK resident
18+
1-2-3 account for best rate
APR
5.3–21.9%
Amount
£1k–£25k
Term
12–60mo
APR
5.1–29.9%
Amount
£1k–£25k
Term
12–60mo
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