Barclays Bank Personal Loans

Barclays loan amount offered by bank is between £1000 and £50000. The repayment period is over 2 to 5 years.

Barclays Personal Loans
Barclays Bank offers both long-term and short-term loans. The Barclays personal loans can finance urgent matters as well as be used to make investments.

The personal loans Barclays can be applied online. Provided one can download the loan application form print it and sign it online between 7 am and 10:30 pm the loan is usually approved immediately.

The loan comes with a price guarantee. If one happens to secure a better offer from another lender for an unsecured loan, similar to that taken from Barclays Bank within 30 days of signing the loan agreement, Barclays Bank reduces the interest rates to match those of the competing offer. The price guarantee is subject to some terms and conditions.

Minimum and Maximum Barclays Loan Amounts

The minimum amount of loan offered by Barclays Bank is £1000 and the maximum amount of Barclays loan offered is £50000. One gets fixed monthly repayment amounts that could help in budgeting.

One can also choose their repayment term with regard to the amount they wish to borrow. Also, depending on the amount borrowed and the repayment structure, one can apply for a top-up of an initial loan or even borrow a second loan. One is eligible for a top-up loan if they have a current or savings account with Barclays, or a mortgage or Barclaycard. They should also have UK residency as well as being aged 18 and above.

Barclays Bank Loan Terms and Interest Rates

The interest rates of Barclaysbank personal loan are based on personal circumstances the repayment period chosen as well as the loan amount. The minimum loan amount of £1000, for instance, is repayable over 2 to 5 years. The monthly instalments therefore depend on the repayment period chosen.

For instance, over a period of 24 months Barclays loan, the minimum amount is payable with £51.29 monthly instalments. The total payable amount is, therefore, £1,230.96 which is an average interest rate of 22.9%. Similar terms apply to the maximum loan amount.

For instance, a loan of £50000, payable over a period of 60 months attracts an average interest rate of 7.3%.

The monthly instalments are £991.64 and hence the total payable amount is £59498.40.