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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 TSB loans compare against the competition?
See today's rates from across the personal loan market.
The TSB Personal Loan charges 6.4% APR representative on loans between £7,500 and £25,000. TSB offers the unsecured personal loan with repayment terms between 3 months and 7 years, and applicants can apply to borrow from £300 to £50,000.
| Loan amounts | From £300 to £50,000 |
|---|---|
| Loan terms | From 3 months to 7 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 | £300 to £50,000 |
| Loan terms | 3 months to 7 years |
| Loan rate type | fixed |
| Fee | 0% |
| Same-day funding available | |
| Same-day funding note | Must hold a TSB current account for more than 3 months. |
| 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 £25,000 |
| Loan terms | 1 year to 5 years |
| Loan rate type | fixed |
| Fee | 0% |
| Same-day funding available | |
| 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 |
Interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
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 TSB 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 TSB gives to at least 51% of those who take out the loan. The other 49% could pay more. TSB must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
TSB advertises a representative APR of 6.4% on loans between £7,500 and £25,000 on the TSB Personal Loan and 6.4% on loans between £7,500 and £25,000 on the TSB Personal Loan.
Originally named the “Trustee Savings Bank”, before becoming part of the Lloyds TSB group, TSB re-entered the stock exchange with a revamped version of its old identity in 2014. Since then, it’s been pushing its image as a trusted, family-friendly and approachable challenger bank, and is offering some competitive mid-range personal loans to back it up.
Whatever it is that has seen you needing a little extra cash, TSB makes it easy for you to calculate your interest rates, repayment schedule and benefits, and if you already bank with TSB, you could have the money in your account the same day.
You should only apply for a TSB personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
TSB typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that TSB considers. However, if you don't have a high credit score, you're very unlikely to get approved for a TSB loan.
A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.
Yes, TSB 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, TSB 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, TSB 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 personal loan from TSB is right for you, you can head over to TSB's website to apply. Completing the secure online application form usually takes about 15 minutes. In most cases TSB will give an instant decision. Before you apply, you can provide TSB with a few details about yourself to find out your likelihood of being approved. This will not affect your credit score.
You can apply for a personal loan online via the TSB website as long as you are over 21, but those between 18-21 must apply by phone or in branch. Anyone can also apply by phone at 0345 835 3861 between 8am-6pm Monday to Friday and from 9am-2pm on a Saturday.
You can also find your local branch with its branch finder.
97% of customers we surveyed in 2026 would recommend TSB to a friend.
It provides a highly efficient and competitive personal loan service, with customers particularly valuing the fast decision-making and quick transfer of funds. The application process is described as clear and upfront regarding interest and terms.
Users also appreciate the flexibility offered, notably the option to take repayment holidays if their financial circumstances change.
AI-generated summary from the text of customer reviews on Finder.
You can call TSB’s customer support on 0800 111 4166. Alternatively, you can use the in-app chatbox which is available Mon-Fri from 8am to 5pm.
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