| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 6.1–21.9% | £1k–£50k | 12–60 mo | personal |
Best For
Individuals with a solid credit history and a Barclays current account seeking a personal loan for larger expenses.
This loan is aimed at UK residents aged 18 and over with a regular income and good credit looking for flexible personal loan options.
Barclays offers personal loans from £1,000 to £50,000 with terms of 12-60 months and representative APRs ranging from 6.1% to 21.9%. Decisions are typically made within minutes for existing customers.
Pros & Cons
Watch Out
The maximum APR of 21.9% can lead to high costs if you're not eligible for the best rates.
Full Review
At a minimum APR of 6.1%, Barclays presents for borrowers who qualify. Their online application process is user-friendly, and decisions are typically made within minutes for existing customers. However, those without a Barclays current account may face higher rates, which can significantly affect the overall cost of the loan.
The loan amounts range from £1,000 to £50,000, with terms from 12 to 60 months, providing flexibility depending on individual needs. Users should be cautious; while a personal price quote can be obtained without impacting your credit score, approval is contingent on creditworthiness and income stability. Customer service is generally well-regarded, but some users report that the higher APRs can lead to frustration for those who don't meet the strict credit criteria.
For borrowers with lower credit scores, alternative lenders might offer better rates. Overall, Barclays is for borrowers with good credit looking for a loan process.
What Borrowers Say
Customers appreciate the fast application process but express concerns about variable APRs and strict eligibility criteria.
