Take out a Saga Personal Loan

Saga Personal Loans

Looking to make home improvements, consolidate debts or buy a new car?

Call to speak to an adviser

0800 121 4240

Mon – Fri 9am-9pm, Sat 9am-5pm

Provided by Shawbrook Bank Limited. 

  • Get a quote now without affecting your credit score

    With a 'soft' credit search, we will let you know if we are likely to approve you for a loan without leaving a mark on your credit score.

How does it work?

We'll give you a quote for a loan without impacting your credit score. You'll know how much you can borrow and how long you have to pay it back so you can get on with planning how you will spend the money. Representative 7.9% APR (fixed).


You could borrow £1,000 to £15,000 and pay it back over 1 to 5 years or borrow £15,100 to £25,000 and pay it back over 1 to 7 years.


  • You need to be aged 50-75 when you apply
  • Live in England, Scotland or Wales
  • Own your own home
  • Have an annual income of £12,000 or more (including pension income).

Apply without affecting your credit score

With a 'soft' credit search, we will let you know whether we are likely to approve you for a loan without leaving a mark on your credit score. The credit search will only be registered and visible to other lenders once you go ahead with the loan agreement.


The option to repay early

If you want to clear your loan earlier than you planned, it’s not a problem. To do this, you'll pay no more than the current month’s and following month’s interest on top of the outstanding balance.


Saga Personal Finance is a trading name of Acromas Financial Services Limited. Acromas Financial Services Limited is a credit broker, not a credit lender.

Helping you decide

How do I pay or change my repayments each month?

Your repayments are made by monthly Direct Debits, using the bank details you gave on your application. 

You can also change the bank account that your Direct Debits are taken from and you can change the date when your repayments come out. To do this, just telephone the customer services team on 0345 848 0269

Can I pay my loan off early?

You can repay all or part of the outstanding balance of your loan at any time. If you wish to repay all or part of the outstanding balance you should contact us at P O Box 919, NEWPORT NP20 9LJ or alternatively by telephone on 0345 848 0269. We will provide you with a settlement quotation, which will tell you the amount that you have to pay. 

The early repayment charge will include 28 days’ notice and an additional 30 days interest that is entitled to be charged.


Can I take a payment break?

Once you have made six monthly repayments and as long as your account is up to date and not in arrears, you can request to take a month off from payments. You can have one payment break every 12 months and you can do this up to five times, depending on the term of the loan. There are no fees charged for an arranged payment break – to arrange it, please call 0345 848 0269.

Why has my application been declined?

There could be a number of reasons why you have been declined as each decision is based on your personal circumstances and by reference to a credit reference agency. The most common reasons for a decline decision are:

  • Information from Credit reference agencies
  • Your credit score
  • Internal policy rules

Credit information and advice

Why does making an application not affect my credit rating?

We process your application using a ‘soft’ credit search, also known as a ‘quotation search’, where we take a look at your credit report but without it leaving any trace visible to other lenders if they look at your credit report later (however you can still see a record of your ‘soft’ searches). With a soft search, we will let you know whether we are likely to approve you for a loan without leaving a mark on your credit score.

Once you confirm you wish to go ahead with the loan agreement, only then will the credit search be registered and visible to other lenders.

Which Credit Reference Agencies are used?

Equifax and Call credit are the Credit Reference Agencies used. Their details are as below


Equifax Limited

www.equifax.co.uk

0800 014 2955

0333 321 4043


Callcredit Ltd

www.callcredit.co.uk

0870 0601414

How can I improve my credit score?

There are ways you can go about improving your credit score. Below are some helpful articles from Saga Magazine that explain more about credit scores, how they work and how you can improve them.

Checking your credit report
How can I improve my credit report?
Top five mistakes that damage your credit report
Why your credit report affects the cost of borrowing

Where can I get more advice?

You can contact these organisations to get free, impartial information and practical advice:
• Step change: go to www.stepchange.org or call 0800 138 1111
• National Debtline: go to www.nationaldebtline.org or call 0808 808 4000
• Citizens Advice: go to www.citizensadvice.org.uk or check your local telephone directory
• Debt Support Trust: go to www.debtsupporttrust.org.uk or call 0800 085 0226
• Debt Advice Foundation: go to www.debtadvicefoundation.org or call 0800 043 4050

Who is the provider and how are they regulated?


Saga Personal Loans are provided by Shawbrook Bank Limited. Registered in England and Wales under number 388466 whose registered office is at Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.


Saga Personal Finance is a registered trading name of Acromas Financial Services Limited, which is registered in England and Wales (Company No. 3023493). Registered office: Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE. Authorised and regulated by the Financial Conduct Authority.

Alternative options

Taking out a loan is a long-term commitment so you do need to make sure that you can comfortably budget for the repayments. If you need to borrow money and are unsure whether an unsecured loan is right for you, one of these options could suit your needs.

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