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Barclays loans

Thinking of taking out a Barclays loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Thinking of taking out a Barclays loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Who is Barclays?

Barclays has a long history of banking dating back to the 17th century. It now operates in over 50 countries around the world and its HQ is in London, UK. In March 2020, Barclays announced its ambition to be a net zero bank by 2050.

Barclays offers a range of personal finance products including personal loans, mortgages and credit cards.

Which is the best Barclays loan for me?

Whether a Barclays loan is right for you will depend on your individual needs and financial situation.

Barclays offers personal loans for a range of needs including holidays, home improvements, buying a new car and consolidating existing loans. It’s also possible to top up an existing Barclays loan if the need arises.

Existing Barclays customers who have been pre-selected for a loan can see their potential loan amount in their online banking account or on the app. Being pre-selected doesn’t affect your credit score.

Why choose Barclays?

With a Barclays loan, you can choose your payment term of 2-7 years (24-84 months) Restrictions apply for loans between five and seven years. Barclays offers fixed APR monthly repayments.

Most customers receive their money almost immediately. Once your application is approved, you just need to sign the agreement.

If you sign between 5am and 11pm, you’ll usually get your money within a few minutes. If you sign after 11pm, you’ll usually get your money before 9.00am the next day.

If your bank is not one of the main UK high street banks, it can take an additional couple of hours to receive your money.

Eligibility

To be eligible for a Barclays loan, you must:

  • Be a UK resident
  • Have a Barclays current account or Barclaycard account
  • Be registered with Barclays online banking or the app.

When deciding whether to offer you a loan, Barclays will consider your income, your credit score and how long you’ve been a customer.

You can use your personal loan for a range of purposes, except business reasons, investments, buying a property, timeshares, gambling-related expenses or paying off a County Court Judgement (CCJ). You can’t combine a Barclays loan with another loan to make a purchase.

Are there any charges?

As with most loans, annual percentage rate (APR) and interest is applied. It’s handy to know the APR when comparing loans with other providers.

If you choose to repay your loan early, you’ll need to pay any interest due.

Why compare loans with Compare the Market?

Our loan comparison service is quick and easy to use. Just give us a few details and we'll help you see if you can find you a quote. We can compare loans from Barclays and other top personal finance providers.

Check eligibility

See what loans you’re likely to be accepted for without damaging your credit score.

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[1] Correct as of December 2023.

[2] As of January 2024, Compare the Market had an average rating of 4.8 out of 5 from 38,330 people who left a review on Trustpilot. The score 4.8 corresponds to the Star Label ‘Excellent’.

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

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Frequently asked questions

How much can I borrow from Barclays?

Barclays offers loans of between £1,000 and £50,000. How much you can borrow will depend on several factors, including:

  • Your circumstances
  • Your credit history.

To see how much a loan might cost, try our loan calculator.

Can I get a Barclays loan with bad credit?

Barclays doesn’t advertise itself as offering loans to people with bad credit. It will consider whether your income is high enough to make repayments, as well as your credit score, when you apply.

How to contact Barclays

Existing customers can contact Barclays via online banking or the app.

If you need to contact Barclays over the phone, you can call 0345 734 5345. Lines are open Mon-Sat, 8am-9pm and 8am-6pm on bank holidays.

How do I apply for a Barclays loan?

You can apply for a Barclays loan online.

Making loan applications can lower your credit score, so before you apply, it’s worth checking whether you’re likely to be accepted.

You can see if there are any Barclays loans you’re likely to be accepted for by using our loan eligibility checker.

It uses a soft credit check, so won’t harm your credit score.

Can I pay off a Barclays loan early?

There’s no minimum repayment period with a Barclays loan. You can repay early in part or in full. If you repay in full, there are no early repayment fees, but you may need to pay any interest that’s due. You can see your total early repayment amount in your online account or on the app.