Barclays Bank Existing Premier Account Customer Barclayloan review October 2019

Barclays Bank Existing Premier Account Customer Barclayloan
Barclays Bank Existing Premier Account Customer Barclayloan

Get a preferential rate on your Barclayloan if you are a Barclay’s Premier customer.

The second biggest UK bank with over £1 billion worth of assets, Barclays offers a variety of banking services to millions of customers in more than 40 countries around the world.

Its unsecured personal loans are straightforward products that come with an easy and entirely digitalised application process, together with the possibility to get instant access to the funds once you’ve been approved.

You can apply to get up to £50,000, so if you’re planning a big refurbishment of your house or have incurred some other considerable expense, this loan can help you pull it off.

For Premier customers, Barclays’ personal loans go the extra mile with a discounted interest rate – a little difference in the interest rate can easily translate into quite a lot of money, especially if you’re looking at making the repayments over a longer period of time.

Just keep in mind that the advertised interest rate isn’t necessarily the one you’ll get, which will depend entirely on your circumstances.

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 4.3% p.a. (fixed). Representative APR 4.3% and total payable £10,663.20 in monthly repayments of £296.20.

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Warning: late repayments can cause you serious money problems. See our debt help guides.

Key details

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £50,000.00
Loan terms2 Years to 5 Years
Loan rate typeFixed
Fee0%
Same day funding available
Same day funding noteFree transfer of funds. Telephone applicants can sign electronically using online banking free of charge. Optional courier service to receive loan documentation for telephone applications also available. This service costs £15.
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Representative example: Borrow £10,000.00 over 3 years at a rate of 4.3% p.a. (fixed). Representative APR 4.3% and total payable £10,663.20 in monthly repayments of £296.20.

Am I eligible?

Available toExisting Customers only
Age18 or over
Credit profilesGood, Fair

How do I apply?

Unsurprisingly, you can only apply for a Premier Account Customer Barclayloan if you are a Barclays Premier customer. To become one, you need to either have an annual income of at least £75,000 paid into your Barclays current account or have at least £100,000 saved or invested with Barclays.

If you fulfil these conditions, applying for a personal loan online is fairly easy:

  • Log in to your personal Internet banking and get a quote. You can do it both from the online banking portal and from the mobile app. Barclays will tell you in advance if you’re likely to be accepted, how much you should be able to get and at what interest rate – without affecting your credit score.
  • Fill in the application. You’ll need to provide Barclays with details and proof of your income, for example, your recent payslips if you are an employee.
  • Sign the agreement and get the money. After the application, Barclays will get back to you and let you know if your application has been accepted. If it has, you’ll also get the loan agreement to sign – email it back by 10pm and you’ll usually get the money instantly.

Taking a personal loan is a big financial decision and there are a bunch of factors to consider, so if you’d rather talk it through with someone from Barclays first, you can either call them on the phone or simply pop into a branch.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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