£1,000 sits in the middle of our £100 to £5,000 range, so you have room to choose a term that keeps the monthly repayment comfortable while keeping the total cost sensible.
We are a credit broker, not a lender. One soft search compares a panel of FCA authorised lenders and brokers, with no impact on your credit score. A hard credit search is only carried out when you formally apply to a lender which can affect your credit score.
What a £1,000 loan costs across different terms
A longer term lowers the monthly payment but usually costs more overall. The table gives a rough idea across a range of terms at a representative 79.5% APR.
Why people borrow £1,000
In the first half of 2026, these were the most common reasons people came to us looking to borrow around £1,000, based on our own enquiry data.
Choosing the right repayment term
The term you pick makes a real difference to both the monthly payment and the total cost. As a rule of thumb, choose the shortest term you can comfortably afford.
- A shorter term means higher monthly payments but less interest overall
- A longer term lowers the monthly cost but usually costs more in total
- Make sure the monthly figure fits your budget with room to spare
Who can apply
Lenders set their own criteria, but as a general guide you will usually need to:
- Be a UK resident aged 18 or over
- Have a regular income the lender can verify
- Hold a UK bank account and debit card
- Pass the lender's own affordability and credit checks
How to apply
Representative Example: Borrow £1,000 over 18 months. 18 monthly repayments of £89.22. Total amount repayable: £1,605.96. Interest: £605.96. Annual interest rate: 59.97% (fixed). Subject to application approval by the lender. Not all lenders offer loans up to £5,000. Representative APR 79.5% (Variable). Any representative monthly repayment shown is for illustration only, based on our representative APR. Your actual repayments will be confirmed by the matching lender if your application is approved.