Debt consolidation loans
- 5.1% APR representative on loans of £5,000 to £25,000 1 for Barclays current account holders when you apply online or over the phone (subject to eligibility criteria)
- You could get the cash instantly 2
- Price guarantee: Find a cheaper loan and we'll match it – and give you £50 3
Make your existing commitments easier with a debt consolidation loan from Barclays.
You could be eligible for a Barclayloan Plus debt consolidation loan if you have:
- Held a Barclays current account with us for over 12 months
- Paid at least £1,000 into your account each month
- Managed your account well and have a good credit history – for example, you have not defaulted on previous lending commitments
5.1% APR representative on Barclayloan Plus. Based on a loan of £10,000 over 60 months at an interest rate of 5.125% pa (fixed). Monthly repayment £189.29. Total amount payable £11,357.13.
Important information you need to know about Barclayloan Plus
Making the application
It's simple and straightforward. If you are registered for Online Banking you could have your money in your account within 3 hours of applying 2.
Alternatively, give us a call on 0800 092 3676 4 or pop into your local branch.
What you can use a Barclayloan Plus for
You can apply for a Barclayloan Plus for almost any purpose. Exclusions include: borrowing for business reasons; for investment purposes, including buying stocks and shares; property finance, including purchases, part payment or deposits on purchases, property development (home improvements are fine) and time shares; the repayment of CCJs or gambling debts; as a deposit for something you’ll be buying using funding from another lender.
The amount you can apply to borrow
You can choose to apply for a loan of between £5,000 and £25,000 in multiples of £100, over a repayment period from 2 to 5 years. Please note: while repaying over a longer period may mean lower monthly repayments, the overall cost of borrowing may be higher.
How we determine the interest rate you will pay
The rate you are offered is based on your personal circumstances, the loan amount and the repayment term. It may vary based on whether you choose to apply online, in a branch or over the telephone. Interest is calculated daily on the outstanding loan balance. Interest is payable at the rate outlined in the loan agreement from the date the loan is opened.
Fixed monthly repayments
The interest rate is fixed for the life of your loan and so your monthly repayments will not change which could help you budget more easily.
Making your fixed monthly repayments
Your fixed monthly repayments will be paid by direct debit. The first monthly repayment is due 2 months after the date the loan has been opened. After the first payment, you can change the repayment date to one more suitable to you, although additional interest will be applicable.
When you can receive your money into your Barclays account
Apply in branch and if approved, you could have your money in your Barclays account before you leave.
You may also be able to apply for your loan over the phone or using Online Banking (if you are registered), but if we need you to prove more information in order to make our lending decision, you will need to visit a Barclays branch. If your application is approved, we’ll transfer the money to your Barclays current account instantly on any day as long as you can print off or download your agreement and sign it in Online Banking between 7am and 11pm. Sign online after 11pm and we’ll usually transfer the money by 9am the next day.
If you’ve got an existing loan with Barclays and are taking out additional borrowing *,you should receive your money within 1 hour, provided you sign your agreement online between 7am and 6pm. Sign online after 6pm and we’ll usually transfer the money by 9am the next day.
* Applying for additional borrowing as part of your existing loan with Barclays is not available via Online Banking. However, if your application is approved over the phone, you will have the option to sign your agreement online to receive your funds within 1 hour.
If you’re not registered for Online Banking or you’ve forgotten your log-in details, you’ll need your Barclays debit card to register and/or sign. No internet access? We’ll post your agreement to you for you to sign and return. We’ll transfer the money into your account as soon as we receive the signed agreement.
Repaying your new loan early
You can also repay your loan earlier than planned in full or in part at any time. An early settlement fee of 30 days' interest on the loan balance outstanding at the settlement date will be payable in addition to any other interest due.
5.1% APR representative on Barclayloan Plus. Based on a loan of £10,000 over 60 months at an interest rate of 6.641% pa (fixed). Monthly repayment £196.32. Total amount payable £11,779.20.
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This quote is for illustrative purposes and is valid for today only.
Apply now for Barclayloan Plus debt consolidation loan
- Apply online if you are registered for Barclays Online Banking
- If you're not registered for Barclays Online Banking, register here to apply
Other ways to apply
- Come in and see us to apply for a loan – find a branch or if you'd rather talk to us you can call 0800 716 598 4