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Moneyfacts Unsecured Personal Loans Star Ratings 2023

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Eleanor Williams, Press Officer
Eleanor Williams, Press Officer / Finance Expert T: 01603 476200 E: Email the Press Team
14/12/2022

A stellar year for the Moneyfacts Unsecured Personal Loans Star Ratings 2023

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2023 for Unsecured Personal Loans.

  • There were 16 Five-Star and seven Four-Star Ratings awarded in the unsecured personal loan market for mainstream lenders.
  • For 2023, the number of loans available to new business has fallen by nearly 19%.
  • Over 35 fields of information are assessed per individual product, covering access, flexibility and borrowing limits.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing unsecured personal loans. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

A stellar year for the Moneyfacts Unsecured Personal Loans Star Ratings 2023

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2023 for Unsecured Personal Loans.

  • There were 16 Five-Star and seven Four-Star Ratings awarded in the unsecured personal loan market for mainstream lenders.
  • For 2023, the number of loans available to new business has fallen by nearly 19%.
  • Over 35 fields of information are assessed per individual product, covering access, flexibility and borrowing limits.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing unsecured personal loans. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

This year’s Five-Star awarded Unsecured Personal Loans providers include:

HSBC, NatWest, Sainsbury’s Bank and TSB.

FOR THE FULL LIST OF 2023 AWARDED UNSECURED PERSONAL LOANS, PLEASE CLICK HERE

 

This year’s Five-Star awarded Unsecured Personal Loans providers include:

HSBC, NatWest, Sainsbury’s Bank and TSB.

FOR THE FULL LIST OF 2023 AWARDED UNSECURED PERSONAL LOANS, PLEASE CLICK HERE

 

Samantha Owens, Star Ratings and Personal Finance Analytics Manager at Moneyfacts, said:

“With the cost of living crisis many will be looking for additional funds around the Christmas period or looking to consolidate debts at lower rates or to reduce monthly payments.

“The highest Moneyfacts Annual Star Ratings for unsecured personal loans ratings are awarded to those products which offer most flexibility, looking at the features available during the term of the loan, beyond the headline rate on offer. The ratings evaluate a range of features available on the loan that could be of benefit to the borrower to manage their finances over the longer term, which can help the consumer when filtering down based on individual needs.”

Samantha Owens, Star Ratings and Personal Finance Analytics Manager at Moneyfacts, said:

“With the cost of living crisis many will be looking for additional funds around the Christmas period or looking to consolidate debts at lower rates or to reduce monthly payments.

“The highest Moneyfacts Annual Star Ratings for unsecured personal loans ratings are awarded to those products which offer most flexibility, looking at the features available during the term of the loan, beyond the headline rate on offer. The ratings evaluate a range of features available on the loan that could be of benefit to the borrower to manage their finances over the longer term, which can help the consumer when filtering down based on individual needs.”

Numerous features are considered when assessing the ratings, and some of these include:

Numerous features are considered when assessing the ratings, and some of these include:

Unsecured personal loans

Unsecured personal loans

  • Footprint free quote
  • Instant decision
  • Application methods
  • Early repayment charge
  • Deferment periods
  • Minimum and maximum advances
  • Minimum and maximum terms
  • Payment methods
  • Overpayments without early repayment charge
  • Footprint free quote
  • Instant decision
  • Application methods
  • Early repayment charge
  • Deferment periods
  • Minimum and maximum advances
  • Minimum and maximum terms
  • Payment methods
  • Overpayments without early repayment charge
  • Debt consolidation limit
  • Incentives
  • Joint application
  • Loan top-up options
  • Online statements
  • Payment holidays
  • Risk-based pricing
  • Same day funds
  • Debt consolidation limit
  • Incentives
  • Joint application
  • Loan top-up options
  • Online statements
  • Payment holidays
  • Risk-based pricing
  • Same day funds

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Equity Release
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loans
  • Landlord Home Insurance
  • Commercial Mortgage.

For more information about us please see our key facts.

To link to our website please use moneyfactsgroup.co.uk.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Equity Release
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loans
  • Landlord Home Insurance
  • Commercial Mortgage.

For more information about us please see our key facts.

To link to our website please use moneyfactsgroup.co.uk.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

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