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MBNA loans

Thinking of taking out an MBNA loan? Read our guide to find out what loans could be available and how to apply for them.

Thinking of taking out an MBNA loan? Read our guide to find out what loans could be available and how to apply for them.

Who is MBNA?

MBNA, which originally stood for ‘Maryland Bank National Association’, was founded in 1982. It’s now based in Chester where its Community Investment Programme supports local charities and community organisations. 

As well as loans, the company offers credit cards, home insurance and savings. It works exclusively with Lloyds Bank as a credit broker to provide loans.

Which is the best MBNA loan for me?

The best loan for you will depend on your personal circumstances, including how much you want to borrow and your ability to pay back the loan. 

MBNA offers unsecured personal loans of between £1,000 and £25,000 to repay over one to seven years. 

In March 2024, the representative APR for loans from £7,500 to £25,000 was 8.7%, repayable over one to five years. This is the rate available to 51% of successful applicants. But the rate you’re offered will depend on your individual financial circumstances and credit history.

Why choose MBNA?

You can use your MBNA loan for anything from buying a car to home improvements and debt consolidation

Monthly repayments are fixed so you’ll know exactly how much you need to pay, although you can make overpayments without charge. You can apply to borrow more money if you want to, and you might be able take up to two repayment holidays in 12-months – although if you do, your loan may cost you more overall.

Eligibility

To apply for an MBNA loan you’ll need to be a UK resident aged 18 or over. You’ll also need to:

  • Have a regular income or be in paid employment
  • Not to have been turned down for credit in the last month.

MBNA doesn’t provide loans to people in full-time education.

Are there any charges?

As well as interest, there’s a £25 charge if you miss a monthly repayment. If you settle your loan early, you’ll need to pay up to 58 days’ interest.

Why compare loans with Compare the Market?

We compare loans from 33 providers[1]

See which loans you might be eligible for in 4 minutes[1]

Rated 4.8/5 on Trustpilot[2]

[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.

How well is MBNA reviewed on Trustpilot?

MBNA had a Trustpilot rating of 1.4 in March 2024. 

See MBNA’s current Trustpilot rating

Frequently asked questions

How much can I borrow from MBNA?

MBNA offers loans of between £1,000 and £25,000.

Can I get an MBNA loan with bad credit?

No, you won’t be accepted for an MBNA loan if you have a history of bad credit. But you may be able to find another provider willing to lend to you. See our guide to bad credit loans.

How to contact MBNA

You can message MBNA using the mobile app, which you can also use to make payments and check your balances. You can also get help from the virtual assistant on MBNA’s website.

Alternatively, you can call 0330 678 1430. Lines are open Monday to Friday from 8am to 8pm and on Saturday and Sunday from 9am to 6pm.

How do I apply for an MBNA loan?

You can apply for an MBNA loan on the website, but before you do it may be useful to see whether you’re likely to be successful, as well as what other loans you might be eligible for.

Use our loan eligibility checker to see what loans you’re likely to be accepted for, without impacting your credit score.

Can I pay off an MBNA loan early?

You can repay your MBNA loan early, but you’ll be charged up to 58 days’ interest. There’s no charge for making extra payments.