Personal loan
A fixed amount repaid in equal monthly instalments.
- Fixed term and instalment
- Use for larger purchases
- Rate depends on your credit profile
Loans
Borrow wisely: a guide to loans
Learn how the main types of loans work, what determines their cost and how to compare offers before you commit.
Car loan
Financing for a new or used vehicle, often at lower rates.
- Purpose-bound
- Vehicle may serve as security
- Compare dealer and bank offers
Mortgage
Long-term financing for buying or building property.
- Secured on the property
- Fixed-rate periods available
- Long terms of 10–30 years
How to compare loans
- 1
Compare the effective annual rate (APR), not just the nominal rate.
- 2
Check total cost over the full term, including fees.
- 3
Look for free special repayments and early-repayment terms.
- 4
Borrow only what you can comfortably repay each month.
Frequently asked questions
Does Raisin offer loans?
No. Raisin focuses on savings. This page explains loans so you can compare offers directly with banks.
What is the effective annual rate?
The APR includes interest and mandatory costs, so it is the best figure for comparing loan offers.
Should I save or repay debt first?
Usually expensive debt such as overdrafts and card balances should be repaid first, while keeping an emergency reserve in savings.
Build a savings reserve first. Compare current offers.
Explore savings