Barclays Bank Loan Features
- Borrow between £1,000 and £50,000
- Borrow over a term of 24 to 60 months
- Borrow at the same rates regardless of whether you’re planning on using the loan for a car, home improvements, or something else entirely
- Manage your budget easily with fixed monthly loan repayments
- Get an instant online indication of the loan limit you might be offered, without affecting your credit rating, using Barclays Online Banking
- Rated 5 stars by Defaqto 2014
In order to be eligible to apply for Barclays bank personal loan, you must:
- Have held a Barclays current account for at least seven months
- Have paid at least £1,000 into the account each month
- Have a good credit history
- Not be intending to use the money for investment, property purchase or a number of other reasons as set down in their terms and conditions
Although the maximum amount Barclays offer with a personal loan is £50,000 that does not mean everyone can borrow that amount, the maximum amount each person can borrow will be dependent on their credit score and financial circumstances.
Barclays Bank Loan calculator
Barclays bank offer a loan calculator tool that can give you an idea of what your personal loan repayments might be. You just need to enter how much you wish to borrow and how long you want the repayment period to be. However the Barclays loan calculator can only give you a rough idea, if you do apply for a Barclays loan they may tailor the annual percentage rate they are willing to offer you based on an assessment of your credit score and other financial information.
Things to consider
Loans, like most financial products vary hugely between the different plans and lenders. The best option for you is not necessarily the best option for everyone. Therefore doing your research and shopping around beforehand is a good idea, to try and find the best option for you. Barclays bank is after all just one lender of many. Check the above comparison tables to get an idea of some of the options available to you.