The interest rates for Barclays loans are low. They are competitive with other online lending interest rates. The highest rates are lower than other online rates. The interest rate you receive for your loan depends on your qualifications.
Barclays loans do not have fees. They do not charge origination fees or application fees. They do not have fees for paying your loan off early or for late payments. If your payment is late, your loan will still accrue interest. If you miss a payment, Barclays will send an email, but not charge you a fee.
Barclays requires loan repayments be made electronically. You must link a checking or savings account to your loan. To make a payment, you log in to your account through their website. There you can make the payment manually each month or set up automatic payments. Electronic payments do not have a charge.
To apply for a Barclays loan, you must have an invitation code. They send the code to you in the mail on the top of a letter allowing you to apply for a loan. If you have not received a letter, you cannot apply for a Barclays loan.
Qualifications to Apply for Barclays Loans
Useful Information About Barclays Loans
Barclays started in 1690 in London. In 1965, Barclays established a branch in San Francisco. Barclays US is an online branch of Barclays. They are an entirely online bank with over 85,000 customers. They have customers in more than 40 countries.
Barclays offers personal loans to those with excellent credit history. To apply for a loan, you must input the code you receive from Barclays. Currently, Barclays does not offer personal loans to everyone. Their interest rates are competitive with other online lending companies.
Yes. The application for Barclays loans is completely online.
Barclays does not list a minimum credit score. They invite those to apply who have a good credit history. You must have an invitation code to apply. Even with an invitation code, approval depends on a soft credit check.
The minimum loan amount is $5,000.
The maximum Barclays loan is $35,000.
The term lengths are 36, 48, and 60-months. The term length may depend on the amount you want to pay each month.
Yes. Barclays interest rates are competitive with other online lending companies. The interest rate you receive is determined based on your qualifications.
Yes. Barclays offers fixed interest rates for the life of the loan.
Barclays offers personal loans. These loans can be for debt consolidation, a major life event, or a vacation.
Barclays requires a valid address, SSN, and bank account. You will need to verify your employment and financial history. Other information may be necessary, depending on your application.
Approval for a Barclays loan could be the same day you apply for the loan. But most loan approvals take a few days.
Once you have finalized the loan, the money transfers into your account within a few business days.
Contact customer service to discuss a loan denial. Approval depends on a soft credit check.
Payments are due monthly. The only repayment option is through electronic payments. You can make the payments manually or set up automatic withdrawals. You can link a savings or checking account to make your Barclays loan payments.
Yes. There are no fees for paying your Barclays loan off early.
Barclays encrypts information. They use firewalls and monitor activity all day, every day. Your Barclays account times out automatically after a set amount of time. Their security measures comply with federal laws. Their buildings, files, and computers are secure.
The Barclays website does not list an app. But customers can access their account through a mobile device.
Contact customer service through mail, email, or over the phone. Customer service is available Monday through Sunday from 8 a.m. to 8 p.m. ET. You can follow Barclays on Facebook, Instagram, Twitter, and YouTube.