It’s quick and easy to apply online via the Barclays website. 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). The multinational bank is now operating in over 40 countries with an estimated employee count of around 120,000. One of the “big four” alongside HSBC, Lloyds and RBS, Barclays was founded over 300 years ago in 1690. 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. However, you’ll need to be an existing Barclays current account holder to be eligible. 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. Does Barclays offer debt consolidation loans? 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. Your current income and employment details (payslips and bank statements).Your address details for the past three years.If you’ve decided that a Barclays personal loan is right for you, you’ll need to provide proof of the following: Alternatively, Barclays also allows you to effectively "top up" your loan, by closing your current loan and starting a new, larger loan. Each application for credit will be considered on its own merit. Yes, Barclays allows you to have more than one loan running at the same time. Additional borrowing is always subject to Barclays’ credit and affordability checks and you won’t be allowed to take out more than £50,000 overall. If you don’t want to do that, you can simply apply to run a second loan concurrently. Barclays uses the phrase “Topping-up” a little misleadingly… Topping-up in fact closes your existing loan and starts a new one.
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You can pay back your loan early, in part or in full at any time, but you’ll be charged a fee equal to 30 days’ interest on the amount you’re repaying (as well as any other interest that’s due).
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 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. Step-by-step: Taking out a Barclays personal loanīarclays Bank loans – AKA “Barclayloans” – are unsecured loans, meaning they’re based on creditworthiness, rather than the use of property or other assets as collateral. Topping-up pays off existing loan and initiates a new loan
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