Skip to main content

Personal loans

An easy-to-use personal loan you can apply for online in minutes

We’ve welcomed award-winning lender, RateSetter, into the Metro Bank family to bring our customers a personal loan that’s easy to apply for and simple to manage.

RateSetter’s instant quote means that you can find out your personalised rate there and then – this won’t touch your credit score. Once you’ve applied, you’ll usually know the outcome the next working day.

With flexible repayment terms and no early repayment fees, a RateSetter personal loan can help bring your plans to life.

Get a quote with RateSetter

A personal loan could make it happen

Whether you want to do some home improvements, turn existing debts into one easy monthly payment or buy your next car, a personal loan could be the boost you need.

Low-rate personal loan

You can borrow between £1,000 and £35,000 over a term of 1 to 5 years, and rates start at 3.9% APR – get an instant quote to find out your rate on the spot. Once you’ve applied, you’ll usually know the outcome the next working day.

Make your loan your own

If you’re approved the money will be with you the next working day, and then you can manage your loan online 24/7. Pick a monthly payment day that suits you and make extra payments if and when you want to.

RateSetter's your customer champion

Named the 'Treating Customers Fairly Champion' at the British Bank Awards 2022.

To give you a better idea of how a RateSetter loan could work, here’s the representative example:

If you took out a loan of £10,000 over five years at a fixed interest rate of 2.3% per year (4.9% APR representative), your monthly repayment would be £187.94 and your total repayment amount would be £11,276.40. This includes a fee of £638. The majority of our customers receive the advertised APR or lower. The maximum APR you could be offered is 29.9%.

Loans are subject to status and affordability, and the rate and fee you pay will depend on your credit profile. Before entering into a loan agreement, make sure you read the terms and conditions carefully.

Before you apply

To be eligible for a personal loan with RateSetter, you need to:

  • be 21 or over
  • have been a UK resident for a minimum of three years
  • you have a regular source of income paid monthly, for example through wages or a pension, of over £16,000 a year
  • have a good credit history, with no County Court judgements, bankruptcies or debt relief orders on your credit file
  • have not missed any regular payments in the last 12 months.

Good to know

  • For online personal loans we’re working exclusively with RateSetter, a trading name of Metro Bank PLC
  • Their personal loans are subject to status and affordability
  • The rate you’re offered will be based on your circumstances and the details of your loan, and any fees will also depend on your credit profile
  • Before entering into a loan agreement, make sure you read the terms and conditions carefully
  • Getting an instant quote won’t affect your credit score.

APR stands for annual percentage rate, and gives you a more accurate idea of how much you’re being charged when you borrow money. It takes into account the interest on the loan and other charges, like arrangement fees.

Ready to get started?

Frequently asked questions

How much can I borrow with a RateSetter personal loan?

You can borrow from £1,000 up to £35,000 for between 1 and 5 years.

How do I apply?

First, go to, or get to RateSetter through our website, our App or Online Banking.

Once you’re on the RateSetter personal loan page, click ‘Get A Quote’ to answer a few questions and get your personalised rate – this won’t touch your credit score and there’s no obligation to apply.

If you do want to, click ‘Apply’. We’ll do a credit search (that other lenders can see), and let you know whether you’ve been accepted straightaway, or usually by the end of the next working day.

What are the fees and charges?

RateSetter charges a loan fee, but this is built into the APR (Annual Percentage Rate) along with your fixed annual interest, so there are no surprises. You won’t be charged a loan fee if you cancel your credit agreement within 14 days of it starting. The loan fee is non-refundable if you settle your agreement early.

Is my interest rate guaranteed?

If you get an instant quote through the RateSetter website, your personalised rate will be based on the details you’ve given and will be the rate you’re offered once you apply. If you change any information during your application, the rate could change.

How long does it take to apply for a RateSetter personal loan?

Not long at all – in fact, it can take as little as five minutes if you have all your details to hand.

Can I repay my loan early?

Yes, you can pay off all or part of your loan early and there are no early repayment fees. You can make extra payments, increase your monthly amount, or repay your loan off in full using your RateSetter online account. The loan fee is non-refundable if you settle your agreement early.

I’ve already got a personal loan with Metro Bank and want to borrow more. Can I do this?

Yes – you can apply for a second smaller loan with RateSetter or go for a larger one to consolidate your existing Metro Bank loan and give you extra funds. If you do borrow more to consolidate debt held with Metro Bank, you’ll need to pay this off yourself – RateSetter won’t be able do the transfer for you.

Can I use a RateSetter personal loan to combine my existing debts into one monthly payment?

Yes. If you’re looking to get your finances in check, you can apply for a personal loan with RateSetter in order to turn your existing multiple payments into a single easy one. To find out more, visit

Can I see my RateSetter personal loan on my Metro Bank Online Banking or Metro Bank App?

No, but it couldn’t be easier to manage your personal loan – you can do it 24/7 through your RateSetter online account. You’ll be able to access this as soon as you’ve completed your application.

Can I apply over the phone?

Sorry, no – we can only offer personal loans through the RateSetter website. If you have any questions, please speak to the RateSetter team. You can call them on 0203 142 6226 between 8am and 6pm Monday to Friday, or email

Who should I speak to if I need help with my RateSetter personal loan?

Once you’ve got your loan, the RateSetter team will be there to support you. You can call them on 0203 142 6226 between 8am and 6pm Monday to Friday, or email

What if I have a question about my existing Metro Bank personal loan?

No problem – give us a call on 0345 08 08 500 so we can help.

RateSetter is a trading name of Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ and ‘RateSetter’ are registered and licensed trademarks of Metro Bank PLC.