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How we picked theseTo make it even easier to compare and evaluate unsecured loans we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
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How do Barclays loans compare against the competition?
See today's rates from across the personal loan market.
The Barclays Barclayloan charges 6.2% APR representative on loans between £20,100 and £25,000. Barclays offers the unsecured personal loan with repayment terms between 2 years and 5 years, and applicants can apply to borrow from £1,000 to £50,000.
The Barclays Premier Barclayloan charges 5.9% APR representative on loans between £7,500 and £25,000. Barclays offers the unsecured personal loan with repayment terms between 2 years and 5 years, and applicants can apply to borrow from £1,000 to £50,000.
| Loan amounts | From £1,000 to £50,000 |
|---|---|
| Loan terms | From 2 years to 5 years |
| Age eligibility | 18 years and over |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000 to £50,000 |
| Loan terms | 2 years to 5 years |
| Loan rate type | fixed |
| Fee | 0% |
| Same-day funding available | |
| Same-day funding note | Free transfer of funds. |
| 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 methods | Direct debit |
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000 to £50,000 |
| Loan terms | 2 years to 5 years |
| Loan rate type | fixed |
| Fee | 0% |
| Same-day funding available | |
| Same-day funding note | Free transfer of funds. |
| 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 methods | Direct debit |
Barclays Bank loans – AKA “Barclayloans” – are unsecured loans, meaning they’re 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 a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because Barclays doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what Barclays gives to at least 51% of those who take out the loan. At the top end of the market – where Barclays fights it out among the high-street banks and supermarkets – chances are that 49% of customers are receiving a higher APR. With Barclays, you'll need a good credit score to get approved and a great credit score to bag that representative APR. Barclays must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
Barclays advertises a representative APR of 6.2% on loans between £20,100 and £25,000 on the Barclays Barclayloan and 5.9% on loans between £7,500 and £25,000 on the Barclays Premier Barclayloan.
You should only apply for a Barclays personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
Barclays states that these loans should not be used for:
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 considers. 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, 439 if you're referring to Equifax's scale and 566 if you're referring to TransUnion's scale.
Yes, Barclays offers instant decisions online in most cases. (Occasionally, more information may be required.) First, you can use the soft-search eligibility checker to find out your chances of getting approved. (This won't affect your credit score.) Then, if you opt to go ahead and apply, you'll get an instant answer. Barclays can also offer same-day funding of your loan.
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. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to 2 months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the 2.
Yes, you can make overpayments without incurring any penalty fee. However, Barclays can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.
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.
Like many major lenders, Barclays does not offer a dedicated debt consolidation loan, but you can use a Barclays personal loan to consolidate your debt. However, you’ll need to be an existing Barclays current account holder to be eligible.
If you already have a Barclays personal loan, you can also apply for a top-up loan to increase how much you’ve borrowed, or take out a second personal loan.
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.
In our independent 2025 customer satisfaction survey, 90% of Barclays’ users said they’d recommend the brand to a friend. Customers highlighted the bank’s competitive rates, good reputation and easy application process. One customer said: “It was easy to apply online with a quick decision and money was paid into my account straight away.”
For any queries on personal loans, you can call Barclays on 0800 158 3209. Or alternatively, you can use the Barclays in-app chatbox to contact customer support.
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