To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Maximum loan
£35,000
Product fee
N/A
Early redemption fee
Yes
Yes, Virgin Money branched out and launched its first unsecured personal loans in July 2020. Loans are offered for up to £35,000, with instant decisions and quick funding, as well as offering customer perks like access to Virgin Money lounges and Virgin Group discounts.
The Virgin Money Existing Customer Personal Loan charges 6.3% APR representative on loans between £7,500 and £15,000. Virgin Money offers the loan with repayment terms between 1 and 7 years, and applicants can apply to borrow from £1,000 to £35,000.
| Loan amounts | From £1,000 to £35,000 |
|---|---|
| Loan terms | From 1 year to 7 years |
| Age eligibility | 18 years and over |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
Virgin Money personal loans are offered digitally, meaning you can apply, get approved and get funded entirely online within a couple of hours.
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000.00 to £35,000.00 |
| Loan terms | 1 year to 7 years |
| Loan rate type | Fixed |
| Product fee | 0% |
| Same-day funding available | |
| Instant decisions in most cases | |
| Soft-search facility available | |
| Joint applications | |
| Overpay without penalty | |
| Concurrent loans allowed | |
| Topping-up pays off existing loan and initiates a new loan | |
| Repayment methods | Direct Debit |
You’ll need to meet the following criteria to be eligible for a Virgin Money loan:
Virgin Money typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that Virgin Money considers. However, if you don't have a high credit score, you're very unlikely to get approved for a Virgin Money loan.
A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.
Yes, Virgin Money offers instant decisions online in most cases. (Occasionally, more information may be required.) Virgin Money can also offer same-day funding of your loan.
Yes, Virgin Money allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, Virgin Money also allows you to effectively "top up" your loan by closing your current loan and starting a new, larger loan.
If you've decided that a personal loan from Virgin Money is right for you, you can head over to Virgin Money's website to apply. Completing the secure online application form usually takes about 15 minutes. In most cases Virgin Money will give an instant decision. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
You’ll need to provide the following information as part of your application:
Virgin Money has received mostly negative reviews from customers, according to review platform Trustpilot. It currently has a rating of 1.9 out of 5, based on more than 7,400 reviews (updated May 2024). Some customers cited poor responsiveness and issues with the online application process.
You’ll find customer satisfaction star ratings on some of our personal loans provider reviews. Here’s how we came up with them.
44% of Brits have gambled at least once in 2023. We unpacked the latest statistics to see what we are gambling on and how much we spend.
Check out our review of Lendable personal loans and find out whether it offers the best loans for you.
If you’re a retiree and looking for a loan, there are lenders who may approve your application. Learn more about the loan types available to retired people.
Compare live rates, fees and eligibility criteria from a range of lenders to get the right loan for your needs at the lowest overall cost.
Creation Financial Services offers fixed-rate personal loans of £1,000-£25,000 over 1-5 years with no hidden fees. Find out all the key features of these loans and compare live rates in our in-depth review.
Want to buy a new car? Go on holiday? Consolidate your debt? Compare rates and costs of 2 year fixed rate personal loans from a range of lenders.
Fast, simple comparison of TSB fixed-rate personal loans with services from a range of UK lenders. Secure a competitive rate and apply online.
Whether you’re planning on some home improvements, replacing your car or simply getting your finances in order, Sainsbury’s offers fixed rate personal loans of up to £25,000 to Nectar card holders. Fast, easy comparison with a range of lenders.
Compare HSBC fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.