As of 2026, RateSetter no longer offers personal loans to new UK customers. Metro Bank PLC holds the relevant permissions, but no such retail product is open to new applicants. Any current equivalent now sits under the Metro Bank brand instead. The sections below set out the verified position and the realistic alternatives for anyone who arrived searching for it.
RateSetter in context
RateSetter trades as part of Metro Bank PLC (RateSetter is a former brand of Metro Bank PLC; previously Retail Money Market Ltd) and sits in the savings accounts space within the UK market. The brand is best understood through its legal structure rather than its marketing: the entity that holds the regulatory permissions is what determines how customer money is treated and protected.
Searches for the Ratesetter Loan remain common, but the product itself is no longer part of the live range. That gap matters, because content elsewhere can still describe it as though it were on sale. The accurate position is that new applications are not being taken under this brand.
How the credit and lending works in practice
The RateSetter brand was wound down after its acquisition, and any comparable product now sits under the parent brand instead. There is no live application path under the RateSetter name.
For savers or borrowers who arrived looking for this specific product, the practical step is to compare current, open alternatives in the same category rather than pursue a closed line.
What deserves a second look
The regulatory record for RateSetter could not be fully confirmed from the sources reviewed, which is why no Firm Reference Number is stated above. This is not an allegation of any problem; it simply means the authorisation detail should be verified directly on the FCA register before relying on it.
The single most important point is availability: this is not a live product for new customers in 2026. Treating older reviews or adverts as current is the most common mistake, so the safest move is to confirm the present position before acting.
Who should look closer
Because the product is closed to new applicants, the realistic audience is existing customers managing legacy arrangements and researchers checking the current status. New savers or borrowers are better served by comparing open products in the same category.
For the full provider picture, read the RateSetter review. To see how this sits against rival products, compare the Best Credit Cards and Loans options. |
Important information This article is for general information only and is not financial advice. Kaeltripton is not authorised by the Financial Conduct Authority and does not provide regulated advice or recommendations. Rates, products and eligibility change; always confirm details with the provider and the relevant regulator before acting. Kaeltripton is registered with the Information Commissioner's Office (ICO registration ZC135439). |
Frequently asked questions
Is RateSetter FCA regulated?
A clean Firm Reference Number could not be confirmed from the sources reviewed, so check the FCA register directly for the current authorisation status of Metro Bank PLC (RateSetter is a former brand of Metro Bank PLC; previously Retail Money Market Ltd) before relying on it.
Can I still get the Ratesetter Loan?
No. It is not available to new UK customers in 2026. Older pages may still describe it, but new applications are not being accepted under this brand.
Who is RateSetter best for?
It is positioned for savers (metro). Whether it suits you depends on your own amount, time horizon and existing arrangements.
How can I check RateSetter is genuine?
Search the firm on the FCA register at register.fca.org.uk and compare the contact details there with the official website. Never use links or numbers from unsolicited messages.
Does RateSetter have a mobile app?
App availability is set by the provider and may change; the official website lists the current channels. This page focuses on the facts that can be verified independently.
Sources
Sources
