To make comparing even easier 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 methodologyOur 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 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.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
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 a loan will cost with a range of lenders.
To make comparing even easier 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 methodology
Maximum loan
£50,000
Product fee
N/A
Early redemption fee
Yes
The Barclays Existing Current Account Loan charges 6.5% APR representative on loans between £7,500 and £20,000. Barclays offers the loan with repayment terms between 2 and 5 years, and applicants can apply to borrow from £1,000 to £50,000.
The Barclays Existing Premier Account Loan charges 6.2% APR representative on loans between £7,500 and £25,000. Barclays offers the loan with repayment terms between 2 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 months 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 | £1,000.00 to £50,000.00 |
| Loan terms | 2 years to 5 years |
| Loan rate type | Fixed |
| Product 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 | £1,000.00 to £50,000.00 |
| Loan terms | 2 years to 5 years |
| Loan rate type | Fixed |
| Product 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 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.
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.
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.
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 2024 customer satisfaction survey, 90% of Barclays’ users said they’d recommend the brand to a friend. Customers highlighted the bank’s competitive rates and easy application process. Here’s what some of those Barclays customers had to say:
“Barclays are a very friendly and trustworthy brand who are reputable and knowledgeable, they have great customer service agents who are always very happy to help”
“It was very easy to apply online. The information given was sufficient and clear enough for me to make an informed decision. The whole process was quick and straightforward from start to finish. I received my loan within a few hours.”
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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