£3,000 Loans
A £3,000 loan could help with home improvements, cover wedding costs, or go towards buying a new car.
Find out which loans you could be eligible for with our partner ClearScore and their trusted panel of lenders. Just like Asda Money, ClearScore is a credit broker, not a lender.
If you take out a product through ClearScore, Asda Money will receive a commission payment from ClearScore. The amount charged will be in connection with the specific product selected and so different amounts of commission are received. For more information please see our FAQs.
When you check your eligibility below you will be transferred to our partner ClearScore.
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How does a £3,000 loan work?
Working with our partner ClearScore, we can help you find a £3,000 loan that meets your lending requirements. They work with a range of carefully selected trusted UK lenders that make up their lender panel. All it takes is one quick eligibility check, and you can compare £3,000 loans to find one that is right for you and your circumstances.
When can a £3,000 loan help?
A £3,000 loan can help in a variety of ways. You may want to improve your home and need some cash upfront to do it. With £3,000 you could:
- Buy new furniture or carpets
- Get your home redecorated
- Buy a new bathroom suite
- Get new kitchen appliances
You could use £3,000 to consolidate debt into one easy-to-manage monthly payment, put a deposit down on a new car, or boost your wedding fund.
Please remember that by consolidating existing borrowing, you may be extending the term of the debt and increasing the total amount you repay.
How much will a £3,000 loan cost?
When you borrow £3,000 through a personal loan, you pay interest. This is calculated at the start of the loan based on the interest rate set by the lender and the length of the loan. This is then added to the loan amount, so you know exactly how much your loan will cost you.
Smaller loans often have slightly higher interest rates to cover the costs the lender pays. So the interest rate on a £3,000 loan may be lower than a £1,000 loan but higher than a £5,000 loan.
The higher the interest rate, the greater the amount you’ll pay over the term of the loan. A longer loan term may mean smaller monthly payments, but you may pay more in interest.
Will a £3,000 loan affect my credit score?
When you check your eligibility for a £3,000 loan, this doesn’t affect your credit score. You’ll get access to our panel of trusted lenders with one eligibility check. This only leaves a soft credit footprint on your file and doesn’t affect your credit rating.
If you choose to take up one of the offers, you can then continue directly to the lender, they may complete a hard search before your funds are released which will show up on your credit file.
Frequently asked questions
- What is the monthly payment on a £3,000 loan?
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The monthly repayment on a £3,000 loan depends on the loans available from our panel of UK lenders, the interest rate offered to you, and the length of the loan. You can check your eligibility for loans with our lender panel. There is no obligation to proceed, you can simply see what loan options are available to you.
- Can I get a £3,000 loan without a guarantor?
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At Asda Money, we work with our partner ClearScore and their panel of lenders only offer unsecured personal loans – and not guarantor or secured loans. You can check your eligibility for a £3,000 loan without a guarantor.
- Can I get a £3,000 loan without a credit check?
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When you initially check your eligibility for a loan with our lender panel, this won’t show up on your credit file. If you then proceed with an offer provided by one of ClearScore's lenders, they may run a hard credit check on your file before releasing your funds.
- Can I pay back my £3,000 loan early?
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Depending on the agreement with your chosen lender, you may be able to pay back your £3,000 early. It’s likely you will have to pay an early repayment charge to do so. Check the terms and conditions of your loan agreement.
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About our trusted provider, ClearScore
We’ve partnered with ClearScore to provide our customers the very best loan options from a panel of handpicked trusted lenders. Asda is in partnership with ClearScore. Both Asda Money and ClearScore are credit brokers, not lenders.
Following one simple eligibility check, your loan options with be displayed. It’s also a safe way to view your options without negatively affecting your credit rating.
Asda Money is a trading name of Asda Financial Services Ltd who are an introducer Appointed Representative of “ClearScore” is a trading name of ClearScore Everywhere Limited (formerly known as Aro Finance Limited), authorised and regulated by the Financial Conduct Authority. Address: Vox Studios, 1-45 Durham Street, London, UK SE11 5JH. Registered in England & Wales 06297533. VAT Registration Number 257 0001 44. ClearScore acts as a Credit Broker not a Lender. If you take out a product or are introduced to a third-party provider, Asda and ClearScore will receive payment from that provider; the payment received may be a fixed or variable amount dependent on the product and lender, but it will not impact the amount you pay back. Applicants must be aged 18 or over and a UK resident. For full terms and conditions please visit Asda.com/loans