Business Details
16 Years
experience
Award-Winning Personal Loans from RateSetter
RateSetter was established in 2010 as a pioneering peer-to-peer lending platform, quickly becoming the UK's most popular retail peer-to-peer provider with over 800,000 customers. In 2020, we were acquired by Metro Bank, marking a new chapter in our journey while maintaining our commitment to delivering market-leading personal loans and exceptional customer service. Our team brings decades of combined expertise in unsecured lending, supported by innovative technology and a customer-centric approach. As part of Metro Bank, we continue to focus on fresh solutions that meet evolving customer needs, operating under FCA regulation and adhering to the highest standards of financial conduct. We pride ourselves on transparency, with all loan terms clearly communicated and subject to affordability assessments.Our dedicated UK-based customer service team ensures borrowers receive personalized support throughout their journey. With over 4 billion lent since inception and recognition through awards including the Queens Award for Enterprise, we remain committed to responsible lending practices and continuous improvement. Our partnership with savings providers allows customers to access competitive rates through trusted intermediaries, with deposits protected under the Financial Services Compensation Scheme. We maintain full compliance with regulatory requirements, including membership of the Finance & Leasing Association and adherence to their lending code. Through our online platform, customers can manage loans 24/7 while benefiting from secure, transparent financial solutions tailored to their needs.
Services
Personal Loans
Peer-to-Peer Lending
Savings Products
Hire-Purchase Finance
Loan Management
Details
- Year established: 2010
Highlights and features
- We have over 14 years of lending expertise with 4+ billion lent
- Our FCA-authorised status ensures regulatory compliance and consumer protection
- Dedicated UK customer service team available for personalised support
- Award-winning platform with Queens Award for Enterprise recognition
- Transparent lending process with clear affordability assessments
Associations and certifications
- Financial Conduct Authority
- Finance & Leasing Association
What people say
Exceptional customer support
Transparent lending process
Award-winning service
Competitive rates
Easy online management
Services
Personal Loans
RateSetter offers unsecured personal loans with transparent terms and competitive rates. Our lending process prioritises affordability assessments to ensure responsible borrowing. Customers benefit from 24/7 online account management and dedicated UK customer support throughout the loan term.
Loan Management
Our digital platform enables borrowers to manage loans anytime through secure online accounts. Features include payment scheduling, account updates, and instant access to loan documentation. The system supports real-time tracking of repayment progress and account status.
Savings Products
Through approved savings partners, we offer FSCS-protected deposit accounts. These products provide competitive interest rates with funds held securely by Metro Bank PLC. Investors access accounts via partner platforms while benefiting from our financial strength.
Hire-Purchase Finance
Launched in 2023, our digital hire-purchase product offers vehicle financing solutions through broker distribution. This service expands our lending capabilities while maintaining strict affordability standards and regulatory compliance.
Customer Support
Dedicated UK-based support teams assist with loan applications, account management, and repayment queries. Available through multiple channels including phone and email, our service maintains high resolution rates and customer satisfaction scores.
People
Daniel Frumkin
CEO, Metro Bank
Leading Metro Bank since 2020, Daniel brings extensive financial services experience. He oversees RateSetter's integration as part of the bank's strategic growth in consumer lending.
Richard Saulet
Managing Director, Consumer Finance
As MD of Consumer Finance, Richard leads RateSetter's product development and market expansion. With deep expertise in unsecured lending, he drives innovation in digital finance solutions.
Questions
What personal loan options does RateSetter offer?
We provide unsecured personal loans with transparent terms, subject to affordability assessments and credit profile evaluations for applicants aged 21+.
How are deposits protected with RateSetter savings?
Deposits held by Metro Bank PLC are protected under the Financial Services Compensation Scheme (FSCS) up to applicable limits.
Can I manage my loan online?
Yes, our 24/7 online platform allows loan management, payments, and account updates through your secure RateSetter account.
What happened to RateSetter's peer-to-peer lending?
Following our 2020 acquisition by Metro Bank, new loans are funded through bank deposits rather than peer-to-peer lending arrangements.
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Dec 23, 2021
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Dec 17, 2021
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Dec 09, 2021
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Oct 15, 2021
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Oct 15, 2021
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Sep 24, 2021
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