We can help you to get the best personal loan deal to suit your circumstances. The key factors to consider when looking at loans are the interest rate, the period over which you are repaying the loan, whether or not the loan is to be secured and whether there are any additional fees or charges associated with the loan.

Consider the factors below and decide what exactly you want from a loan. Then let MoneyMonkey.co.uk help you find the best loan deal around.

Interest Rate – The lower the interest rate, the 'cheaper' your loan will be. However, loan companies use a variety of ways to describe and calculate interest rates, so it is helpful to be aware of what to look for. Use Annual Percentage Rates (APRs) to compare loans to ensure you are comparing like for like.

Repayment Period – The longer the period that you pay the loan back over, the more expensive the loan will be - that is, the more interest that you will have to pay over the life of the loan. However, choosing a longer period to pay a loan over will reduce your monthly repayments and enable you to afford to borrow more money.

Secured or Unsecured – Personal loans can either be secured on an asset that you own or unsecured. A secured loan means that the lender will have the right to the assets if you fail to make the repayments that you agreed with the lender.

Charges/ Fees ? Certain lenders will charge a fee for providing a loan, whilst for others, the fees paid to the lender are included in the interest rate quoted. Although most lenders don't charge separate arrangement fees, in many cases they may charge additional fees or penalties if you vary your payments or pay off your loan early. Generally, loans with increased flexibility will be more expensive (in terms of the interest rate) ? these factors should be considered when taking a loan to ensure that you get the right loan for you.

Payment Protection – When you apply for a loan you may be asked whether you want to take out payment protection insurance to cover your repayments in the event of an illness or unemployment. This should be considered, but you may find that better value alternative insurance products are available elsewhere. With unsecured loans, the lender doesn't have any rights to any of your specific assets and as a consequence the risk to the lender is higher. As a result, the interest rates tend to be higher for unsecured loans.