The Very Best Loans with Loantra

Short-Term Loans

Apply Today to Borrow up to £995

*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

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Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

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What Loantra can do for You

How to Borrow 3000

Need to borrow £3,000?

Fortunately, this is a relatively small amount in the world of loans and that means you have a wide selection of options and financial products you can use to secure the funds. Any of these will provide you with the case you need, while at the same time helping you to avoid incurring astronomical charges.

Here’s how you go about borrowing £3,000 as efficiently and quickly as possible…

Ask Yourself Some Questions

Before you begin, the first thing you need to do is ask yourself some questions in order to ascertain the best kind of loan for you.

For example: do you really need £3,000? When taking out a loan, you’ll always pay a higher APR than the interest you could earn by leaving the money in a bank. The only exception to this rule, is if you have a 0% bonus on your credit card.

The next question is how quickly you need the money, how long you need it for and when you’ll be able to pay it back. There is a world of difference between borrowing £3,000 for one week versus borrowing it for one year!

Finally, take a look at your credit history. This will be an indicator as to how reliably you make repayments and it’s what banks and financial institutions will use to determine whether you are a high or low risk investment opportunity.

Your Options

Once you know how you want to borrow $3,000, you can start looking at the different options available to you and which one bests suits your predicament.

If you want to borrow the money over a long duration and you have plenty of funds to do it with, if you have a good credit score and if you aren’t in a rush, then you might want to go the traditional route and take out a bank loan. This way, you can use the money however you like and pay it back each month using agreed terms.

A credit card will work in a similar manner but both these options will take a while to set up and won’t work if your credit score is very bad.

If your credit score is bad, then you may need to use a secured loan or a guarantor loan, which will give the bank some guarantee that you’ll be able to return the funds in the agreed timescale.

If you need a loan more quickly meanwhile, then you can consider using a payday loan or an installment loan. This option is only really suited for people who are able to pay off the loan quickly however – as these types of loans incur a high APR.

There are other options available too for people who want to borrow £3,000 (the bank of Mum and Dad comes to mind!). As you can see, the best option varies greatly depending on your predicament and your circumstances. So make sure to do your research, speak with lenders and find the best loan for you!

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
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Loan amount
£500 - £100,000
Loan term
1 - 18 Months
CUSTOMERSCORES
Excellent
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Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.