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 methodologyBefore 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 methodologyBarclays traces its origins back to 17th-century London, but is now a global banking business active in over 40 countries around the world. As of 2017, it had 24 million customers in the sole UK.
Barclays offers a standard unsecured personal loan option to its customers, which comes with no extra fees and a top-up feature if you realise halfway that you need a bit of extra financial breathing space. Unlike with many other banks, that usually cap their unsecured personal loans at £25,000, you may be able to borrow up to £50,000.
Flexibility isn’t this loan’s main feature – overpayments and early settlement will come for a fee, and you can’t apply for a joint loan. However, instant funding is available even if you apply online – if you’re approved and sign the agreement by 10.30pm, you’ll usually get the money right away. So that once you’ve closed the online banking tab on your browser you can move directly to your favourite furniture shop’s or travel agency’s website.
| 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 |
| Available to | Existing Customers only |
|---|---|
| Age | 18 or over |
| Credit profiles | Good, Fair |
Quite digital-friendly for a big, traditional bank, the application process for a Barclays personal loan can be done online from the beginning to the end.
It’s a good idea to start by logging in to your personal banking and checking your eligibility. Barclays will give you a personal quote with a provisional interest rate and the amount you may be able to borrow, without affecting your credit score.
After that, you can proceed with the online application. You can also do all this directly from Barclays’ mobile app. While applying, you’ll need to provide Barclays with details and proof of your income (for example, your payslips if you are an employee).
Once you’ve been approved and you’ve signed the agreement that Barclays will send you, you’ll usually get the money right away.
Some people may prefer discussing such a big financial decision before applying, in which case, you can give Barclays a call or pop into a branch.
i like to apply for loan.
Hi Jamil,
Thanks for getting in touch! As it says on the page, the application process for a Barclays personal loan can be done online from the beginning to the end. Start by logging in to your personal banking and checking your eligibility. Barclays will give you a personal quote with a provisional interest rate and the amount you may be able to borrow, without affecting your credit score. After that, you can proceed with the online application. You can also do all this directly from Barclays’ mobile app. While applying, you’ll need to provide Barclays with details and proof of your income (for example, your payslips if you are an employee). Once you’ve been approved and you’ve signed the agreement that Barclays will send you, you’ll usually get the money right away. Some people may prefer discussing such a big financial decision before applying, in which case, you can give Barclays a call or pop into a branch. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps!
Best,
Nikki