Borrowing Data

Personal loan statistics in the United Kingdom 2026

Last updated November 2026 · Data to September 2026 · United Kingdom

Personal loan figures for the United Kingdom, from the Bank of England, the Financial Conduct Authority, StepChange and the Finance and Leasing Association.

9.85%

New loan rate Sep 2026

The effective interest rate on new other loans to individuals was 9.85 per cent in the United Kingdom in September 2026.

Source: Monthly average of UK resident banks' sterling Weighted average interest rate - other loans - new advances to Individuals and individual trusts (in percent) not seasonally adjusted, Bank of England, September 2026

Not seasonally adjusted. Series title is other loans, new advances; the Bank release refers to it as the effective rate on new personal loans.

11.52%

Quoted rate, £5,000 loan

The average quoted interest rate on a £5,000 personal loan was 11.52 per cent in the United Kingdom in September 2026.

Source: Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling personal loan - £5K to households (in percent) not seasonally adjusted, Bank of England, September 2026

Not seasonally adjusted. Monthly average of advertised (quoted) rates; the Bank states the advertised rates come from an independent service (Moneyfacts), weighted by lender volumes.

6.98%

Quoted rate, £10,000 loan

The average quoted interest rate on a £10,000 personal loan was 6.98 per cent in the United Kingdom in September 2026.

Source: Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling personal loan - £10K to households (in percent) not seasonally adjusted, Bank of England, September 2026

Not seasonally adjusted. Monthly average of advertised (quoted) rates; the Bank states the advertised rates come from an independent service (Moneyfacts), weighted by lender volumes.

14%

Adults holding a personal loan

In 2024, 14 per cent of adults in the United Kingdom held a personal loan (now or in the previous 12 months).

Source: Financial Lives 2024 survey: Annex A (Product holdings), Financial Conduct Authority, 2024

Survey estimate, base all UK adults; fieldwork 5 February to 16 June 2024

55%

Clients with personal loan debt

Among new clients completing first-time debt advice at StepChange, 55% had personal loan debt at the time of advice in September 2026.

Source: Monthly Client Data Report: September 2026, StepChange, September 2026

Monthly Client Data Report, September 2026 edition (published October 2026); clients who first received debt advice in the month; the report presents rounded whole numbers and says percentages may not add to 100%.

7,330,968

Number holding personal loans

In 2024, an estimated 7,330,968 adults in the United Kingdom held a personal loan (now or in the previous 12 months).

Source: Financial Lives 2024 survey: Annex A (Product holdings), Financial Conduct Authority, 2024

Gross weighted estimate of UK adults; fieldwork 5 February to 16 June 2024

£177.5bn

Non-card credit balances

The amount outstanding of consumer credit lending to individuals other than through credit cards, excluding student loans, was £177,492 million in the United Kingdom at the end of September 2026.

Source: Monthly amounts outstanding of total (excluding the Student Loans Company) sterling consumer credit (excluding credit card) lending to individuals (in sterling millions) seasonally adjusted, Bank of England, September 2026

Seasonally adjusted. The Bank release gives car dealership finance and personal loans as examples of this category.

£1,245m

Net non-card lending

Net consumer credit lending to individuals other than through credit cards, excluding student loans, was £1,245 million in the United Kingdom in September 2026.

Source: Monthly changes of total (excluding the Student Loans Company) sterling net consumer credit (excluding credit card) lending to individuals (in sterling millions) seasonally adjusted, Bank of England, September 2026

Seasonally adjusted. The Bank release gives car dealership finance and personal loans as examples of this category.

£65.1bn

Card and loan new business

New credit card and personal loan business written by reporting lenders was £65,056 million in the United Kingdom in the 12 months to August 2026.

Source: Consumer finance new business grew by 3% in August 2026, Finance and Leasing Association, 12 months to August 2026

Lending by FLA members only; the table gives no geography (UK per publisher).

£9,789

Average personal loan debt

The average amount of personal loan debt among new clients completing first-time debt advice at StepChange was £9,789 in 2025.

Source: Statistics Yearbook 2025 data sheet, StepChange, 2025

Statistics Yearbook 2025 data sheet; calendar year; clients' first fully completed debt advice session.

8.16%

New loan rate Dec 2022

The effective interest rate on new other loans to individuals was 8.16 per cent in the United Kingdom in December 2022.

Source: Monthly average of UK resident banks' sterling Weighted average interest rate - other loans - new advances to Individuals and individual trusts (in percent) not seasonally adjusted, Bank of England, December 2022

Not seasonally adjusted. Series title is other loans, new advances; the Bank release refers to it as the effective rate on new personal loans.

7.14%

New loan rate Dec 2019

The effective interest rate on new other loans to individuals was 7.14 per cent in the United Kingdom in December 2019.

Source: Monthly average of UK resident banks' sterling Weighted average interest rate - other loans - new advances to Individuals and individual trusts (in percent) not seasonally adjusted, Bank of England, December 2019

Not seasonally adjusted. Series title is other loans, new advances; the Bank release refers to it as the effective rate on new personal loans.

Key points

The effective interest rate on new other loans to individuals was 9.85 per cent in the United Kingdom in September 2026. The effective interest rate on the outstanding stock of other loans to individuals was 9.11 per cent in the United Kingdom in September 2026. The average quoted interest rate on a £5,000 personal loan was 11.52 per cent in the United Kingdom in September 2026.

Frequently asked questions

What was the effective interest rate on new other loans to individuals in the United Kingdom in September 2026?

The effective interest rate on new other loans to individuals was 9.85 per cent in the United Kingdom in September 2026.

What was the effective interest rate on the stock of other loans to individuals in the United Kingdom in September 2026?

The effective interest rate on the outstanding stock of other loans to individuals was 9.11 per cent in the United Kingdom in September 2026.

What was the average quoted interest rate on a £5,000 personal loan in the United Kingdom in September 2026?

The average quoted interest rate on a £5,000 personal loan was 11.52 per cent in the United Kingdom in September 2026.