Personal loan questions and answers
What can I use a personal loan for?
You can use your loan for almost anything, apart from
- Business reasons
- Investments, including buying stocks and shares
- Purchasing property (home improvements are fine)
- Gambling-related expenses
- Repaying CCJs (County Court Judgments)
- A purchase made by combining this loan with any others
Do I qualify for a personal loan?
If you have a current account with us or a Barclaycard, we could tell you your personal rate up front – this won’t affect your credit score.
Here’s what we consider when you apply for a loan – whether your income is high enough to make the payments, your credit score, and how long you’ve banked with us. You also need to have a current account with us or a Barclaycard, live in the UK and be 18 or over.
Make sure you read everything before you apply.
Can I top up my loan at any time?
You can top up your loan at any time, but you’ll need to have had your loan for at least three months, and you’ll need to apply for this, then we’ll let you know our decision.
All loans are subject to your financial circumstances and borrowing history at the time you apply.
Can I choose my payment term?
Yes – you can choose your term. Our calculator lets you see how different terms affect the rate you’ll pay.
Can I pay my loan off early?
Yes, you can pay off your loan early – in part or in full – whenever you like. There’s no minimum repayment period. If you repay it in full, you’ll pay the outstanding balance, as well as any other interest that’s due.