£4,000 Loans
With a £4,000 loan, you could spruce up your home, put some money towards your wedding, or buy a new car. Discover the loans you’re eligible for with Asda Money without impacting your credit score.
How does a £4,000 loan work with Asda Money?
At Asda Money, we work with a panel of carefully selected UK lenders, that could provide you with a loan for £4,000.
After one quick eligibility check with us, we search the wide panel and list a range of offers that meet your needs and requirements. Simply compare the available options to find the right one for you. You’ll then be able to continue on to the lender of your choice.
Check your eligibility for a £4,000 loan
When can a £4,000 loan help?
A £4,000 home improvement loan is perfect for a smaller DIY project at home. You may be able to re-imagine one of your rooms or put some money towards a new kitchen or bathroom suite.
Borrowing this amount can help boost your wedding fund or help to consolidate debt too.
Please remember that by consolidating existing borrowing, you may be extending the term of the debt and increasing the total amount you repay.
Types of loans
- Unsecured personal loans (we offer access to these at Asda Money)
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- Usually a small, fixed rate loan for personal use
- For amounts between £1,000 and £25,000
- The amount you can borrow and the rate you see is based on things like your personal circumstances and credit score
- Secured personal loans also known as homeowner loans (we don’t offer access to this type of loan)
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- Typically sums over £15,000 and repaid over longer periods of 5-25 years
- What you can borrow and the interest rate depends on your credit history, your assets and personal circumstances
If you borrow through a secured loan, you need to put up security against the loan amount. This is usually your home, which can be repossessed if you don’t keep up with the loan payments.
- Guarantor loans (we don’t offer access to this type of loan)
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Some lenders offer guarantor loans for £4,000 and will only lend you the money if a friend or family member agrees to pay it back if you can’t. Always think carefully about guarantor loans as they can put added financial pressure on your loved ones.
How much will a £4,000 loan cost?
When you borrow £4,000 you need to pay interest on the amount you’ve borrowed. This is set by the lender and is calculated at the start of the loan to account for the interest you pay over the full loan term.
If you take out a loan with a higher interest rate, you’ll pay more over the length of the loan. Choosing a longer loan term can help keep your monthly payments down, but you may pay more in interest over the course of the loan.
Will a £4,000 loan affect my credit score?
When you complete an initial eligibility check for a £4,000 loan with Asda Money, we perform a soft search to give you access to our panel of lenders. This doesn’t affect your credit score.
If you choose to take up one of the offers and continue onwards to that lender, they may complete a hard credit search. This will show up on your credit file.
Frequently asked questions
- What credit score do I need for a £4,000 loan?
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It depends on the criteria set by the individual lender. If you have a strong credit score and have shown responsible borrowing in the past, you’re more likely to be offered a loan with a better interest rate. If you’ve had problems borrowing and you have bad credit, this can affect the loans available to you and the interest rates on offer.
- Can I pay back my £4,000 loan early?
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Yes, you may be able to pay back your £4,000 early but it depends on the agreement that’s in place with the lender. Often, you’ll be subject to an early repayment charge, so check your terms and conditions carefully.
- Can I get a £4,000 loan without a credit check?
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When you continue on to your selected lender for a £4,000 loan from our lender panel, it’s likely they’ll perform a hard credit search on your file before releasing your funds.
- Can I get a £4,000 loan without a guarantor?
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Yes, you might get a £4,000 loan without a guarantor. The lenders on our lender panel don’t offer guarantor loans or secured loans.
More on loans
About our trusted provider, Aro
Asda is in partnership with Aro which is a trading name of Aro Finance Limited. Both Asda Money and Aro are credit brokers, not lenders. We offer our customers a different solution to borrowing money and finding a loan.
We work alongside Aro so we can provide our customers with their very best loan offer from a panel of handpicked trusted lenders.
With one simple eligibility check, our panel of lenders can provide you with a loan tailored to your needs. It’s also a safe way to find a loan without negatively affecting your credit rating.
Check your eligibility
ASDA Money is a trading name of Asda Financial Services Ltd who are an Introducer Appointed Representative of Aro which is a trading name of Aro Finance Limited (company number 06297533) of Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. Aro acts as a credit broker and not as a lender and is authorised and regulated by the Financial Conduct Authority (FRN 662079).
Terms and conditions apply. UK residents aged 18 and over. If you take out a loan, Asda Money and Aro receive a commission payment from the lender. Different amounts of commission are received from different lenders and the amount will be either a fixed amount or a percentage of the amount you borrow and dependent on the lender you select. We will not charge you a fee for our services.