- Loans
- Long-term loans
Long-term loans
Long-term loans let you borrow a larger amount and spread the repayments over several years, keeping your monthly costs more manageable. Check your eligibility without impacting your credit score.
Personal loans from £1,000 to £25,000, repaid over 1 to 5 years
A fair, individual assessment from a UK regulated lender
Most approved customers receive their loan in less than an hour
Representative APR 32.5% (fixed)
Apply onlineRepresentative Example: Assumed borrowing of £7,500 over 36 months at 32.5% APR representative. Monthly cost of £312.15. Total amount repayable of £11,237.40. Interest rate of 27.0% p.a. (fixed) and total fees of £440.00. From 8.1% to 49.9% APR. £1,000-25,000 over 1-5 years available.
What is a long-term loan?
A long-term loan is a personal loan where you repay what you borrow over an extended period. For unsecured personal loans in the UK, long-term typically means a repayment term of up to 5 years, though some lenders offer different terms depending on the loan type. Read more about what unsecured loans are.
With Zable, you can choose a term from 1 to 5 years. The right term depends on what you can comfortably repay each month.
It's worth understanding the trade-off: a longer term means lower monthly repayments, but you'll pay more interest over the life of the loan. A shorter term means higher monthly repayments, but less total interest paid. Neither is right or wrong – it depends on your budget.
Long-term personal loans are different from short-term borrowing, such as payday loans. Short-term products are generally for smaller amounts, repaid quickly, and often carry much higher interest rates.
What can I use a long-term loan for?
Common uses of a Zable long-term loan include:
Combining multiple repayments into one fixed monthly payment.
Spreading the cost of renovations or essential repairs.
Covering the upfront cost of a vehicle.
Managing a large one-off cost over time.
Other significant expenses
Including holidays, medical costs, or larger purchases.
How does a long-term loan work?
When you take out a long-term personal loan with Zable, you borrow a fixed amount and repay it in equal monthly instalments over your chosen term. Your interest rate is fixed for the full term, so your repayment amount stays the same every month.
Let’s look at a representative example to see how the numbers work:
Representative example: Assumed borrowing of £7,500 over 36 months at 32.5% APR representative. Monthly cost of £312.15. Total amount repayable of £11,237.40. Interest rate of 27.0% p.a. (fixed) and total fees of £440.00. From 8.1% to 49.9% APR. £1,000–£25,000 over 1–5 years available.
Notice that the total repayable (£11,237.40) is higher than the amount borrowed (£7,500). The difference covers interest and fees. This is the real cost of borrowing, and it's worth factoring in when deciding how much to borrow and over what term.
You can repay early at any point. If you do, you'll pay less interest overall.
Read our guide for more information on how loans work.
Can I get a long-term loan with bad credit?
Yes, it is possible to get a long-term loan with bad credit. High street banks and mainstream lenders often decline applications from people with a poor or imperfect credit history. Specialist lenders take a broader view.
Zable uses Open Banking to assess your affordability. Rather than basing a decision purely on your credit score, we look at your actual income and spending patterns (if you link your bank account during the application process).
This can make a difference if your credit file doesn't tell the full story of your current financial situation.
For more detail on borrowing options with a poor credit history, see our bad credit loans page.
"A credit score is a snapshot of the past, not a full picture of someone's finances today. By looking at real income and spending data through securely and easily shared banking information, we can make a fairer assessment of whether a loan is affordable for someone right now."
6 years working at Zable
How much does a long-term loan cost?
The interest rate you're offered depends on your personal circumstances, including your income, credit history, the amount you want to borrow, and the term you choose.
The representative example above won’t necessarily be the rate you’re quoted. Zable loans are available from 8.1% to 49.9% APR – upon checking your eligibility, you’ll see a personalised quote highlighting your APR, monthly payment and loan fee.
You’ll clearly see the total amount you would pay too, so you can make an informed decision before you move forward.
One thing to watch: on a longer-term loan, the total amount repayable is higher than on the same loan over a shorter term, even if the interest rate is identical.
Am I eligible for a Zable long-term loan?
To apply, you'll need to:
be at least 18 years old
be a UK resident
have a regular income
not have any CCJs
Checking your eligibility for a loan takes a few minutes and uses a soft credit search, which won't affect your credit score.
If you're currently managing debt and want to understand your options first, PayPlan offers free and impartial guidance.