Asda Loans Review

ASDA loans are personal loans provided by Lendable under the ASDA Money brand. This review explains how ASDA loans work, what applicants can expect during an eligibility check and how the rates and terms compare with other UK lenders. The aim is to give a clear, factual overview so you can understand the key points before deciding whether to check your eligibility.

What are ASDA loans?

ASDA loans are fixed-rate unsecured personal loans offered under the ASDA Money brand, with Lendable acting as the underlying lender. The product is designed for borrowers looking for a set monthly repayment structure over an agreed term, with the funds paid directly into a bank account once approved.

Although the branding sits with ASDA, the credit agreement, underwriting and account management are carried out by Lendable. This means some processes may be similar, although product features, rates and terms can differ between branded versions and will always depend on the applicant’s individual circumstances.

• Loan type: unsecured personal loan with fixed monthly repayments
• Brand relationship: ASDA Money branding with Lendable as the lender
• Common uses: general borrowing needs such as home improvements, car costs or consolidating existing credit; always subject to eligibility

Who are Lendable?

Lendable is a UK lender that provides fixed-rate unsecured personal loans. They also supply the credit agreements behind several branded loan products, including ASDA Loans and Post Office Loans. In addition to their own lending, Lendable partners with brokers and financial brands to offer the same underlying product under different names.

This approach means some features and processes may be similar across the brands they support. The branding may differ, but the credit agreement is issued by Lendable, although certain terms and features may vary by brand and will also depend on the applicant’s credit profile.

• Branded loan partners: ASDA Money loan and Post Office loan
• Car broker-linked lenders: Autolend for car finance
• Related credit products: Lendable has connections with credit brands such as Zable and thimbl, which also offer credit cards.

There may be other credit brands connected with Lendable that are not listed here.

How do ASDA loans work?

ASDA loans work as fixed-rate unsecured personal loans with set monthly repayments over an agreed term. When you check your eligibility for an Asda loan, the initial assessment is done with a soft search, which helps indicate whether you may qualify before deciding to proceed. There is also no impact on your credit score.

If you choose to continue, the rate, term and loan amount you are offered will depend on your credit profile and the lender’s assessment. Repayments stay the same each month until the balance is cleared, and you can usually repay early if you choose to do so.

• Soft search: initial eligibility check without affecting your credit score
• Fixed repayments: equal monthly payments over a chosen term
• Loan assessment: rate and amount depend on your individual credit profile

What interest rates can you expect from ASDA loans?

ASDA loans use a fixed interest rate for the full term, meaning your monthly repayment remains the same throughout the agreement. The rate you are offered is personalised and depends on factors such as your credit profile, income, recent repayment behaviour, existing borrowing and the lender’s affordability checks.

The representative APR gives an indication of typical pricing for eligible applicants, but it does not reflect the rate every applicant will receive. When you check your eligibility, and if you are eligible, you will see a personalised APR based on the information available at that point. This is still subject to additional checks by the lender as part of the full application process.

What fees or charges apply to ASDA loans?

ASDA loans may include certain fees and charges that form part of the overall cost of borrowing. These are set by the lender and can vary depending on your circumstances and the terms of your credit agreement.

The most notable charge is the application fee, which is added to the cost of taking out the loan. Other charges, such as early repayment or late payment fees, depend on how you manage your account and the specific terms issued by the lender.

• Application fee: £440
• Early repayment: usually allowed; any settlement figure is provided by the lender
• Late payment fees: may apply depending on the credit agreement

This information is based on Mintify’s research and may change if the lender updates its pricing or product structure. Your credit agreement will provide the full details of any fees that apply to your loan.

How do repayments work on an ASDA loan?

Repayments on an ASDA loan follow a set schedule that is confirmed in your credit agreement. Your payments begin after the loan is issued, and each instalment reduces your balance over time.

The lender will tell you the exact dates and amounts before you proceed, and you can view your repayment schedule at any stage of the agreement. If your circumstances change, the lender may discuss your options, but this depends on your individual situation and the terms of your agreement.

• Repayment schedule: provided in advance and fixed for the full term
• Collection method: usually taken by Direct Debit each month
• Account changes: repayment date changes are usually requested through the app and are subject to terms
• Early repayment: possible; you will receive a settlement figure on request

In some cases, customers may be able to increase their repayment amount, depending on the lender’s policies. You can contact the lender directly to review what options may be available to you.