Our calculator lets you pick how much you want to borrow, and estimate how much you’d pay back monthly and overall. We base our calculations on the Barclays’ representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you’re offered.
Late repayments can cause you serious money problems. See our debt help guides.
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much the loan you have in mind cost cost with a range of lenders.
One of the “big four” alongside HSBC, Lloyds and RBS, Barclays was founded over 300 years ago in 1690. The multinational bank is now operating in over 40 countries with an estimated employee count of around 120,000.
Whether you’re looking to buy a new car, consolidate debt, refurbish the kitchen, or take that desperately needed holiday, Barclays offers flexible, unsecured, fixed-rate loans at competitive interest rates (and with enhanced rates for Premier account holders). It’s quick and easy to apply online via the Barclays website.
Barclays Bank loans – AKA “Barclayloans” – are unsecured loans, meaning they’re be based on creditworthiness, rather than the use of property or other assets as collateral. The loans are available to Barclays customers over a period of 2-5 years, for amounts between £1,000 and £50,000, at fixed interest rates. The rate you’re offered may differ from the advertised representative APR, and will be based on your personal circumstances, the loan amount and the repayment term.
The Annual Percentage Rate (APR) is designed to give an annual summary of the cost of borrowing. It takes into account interest and any mandatory charges to be paid (like an arrangement fee) over the duration of a loan. All lenders must calculate their APRs in the same way and must tell you the APR before you sign an agreement.
It can be a handy benchmark, however lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Barclays loans have relatively low APRs, in part because Barclays will generally only offer loans to people with good credit. However, at some loan amounts or terms, you wouldn’t have to look far to find a better APR. Barclays may be hoping that existing customers will sleepwalk their way into a loan with the bank they already use, rather than shopping around for the best rate.
Barclays typically offers loans to applicants with "Fair" (and above) credit ratings. It's important to note that your credit record is just one factor that Barclays will consider, however if you have a poor credit rating, you're very unlikely to get approved for a Barclays loan.
A "Fair" (or higher) credit rating would require a score of at least 721, if you're referring to Experian's scale, 380 if you're referring to Equifax's scale and 566 if you're referring to TransUnion's scale.
No, currently decisions aren't instant. However, you can use the soft search eligibility checker to instantly find out your chances of getting approved (this won't affect your credit score).
Yes, Barclays allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, Barclays also allows you to effectively "top up" your loan, by closing your current loan and starting a new, larger loan.
If you’ve decided that a Barclays personal loan is right for you, you’ll need to provide proof of the following:
However because Barclay’s personal loans are only available to Barclays customers (with either a Barclays current or savings account, mortgage or Barclaycard), if that includes you, you may not need to jump through so many hoops! What’s more, if you use online banking already, Barclays will complete much of the application form on your behalf.
If you are a Barclays Premier customer, you can get a discounted rate on your personal loan. We cover how it works, if it’s worth it and how to apply.
Barclays’ existing customers in need of some extra financial support for their personal projects can apply for this fee-free unsecured personal loan.
Considering a Barclays personal loan? Use our calculator to work out how much you’ll pay back. Plus, you can see whether Barclays’ rivals offer a cheaper deal.
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