Barclays Personal Loans

Barclays Personal Loans Review

Barclays Personal Loans is offered by Barclays Bank, a bank founded in 1896 and based in Wilmington, DE. Barclays Personal Loans is available in 50 states (and Washington, DC).

Key Takeaways

• APRs starting at 4.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Barclays Personal Loans are on the lower end of the spectrum.
• Fast access to funds. In some cases, you can get your money within 1 business day*.
• Prequalified rate. You can check your prequalified rate at Barclays Bank with a soft pull that will not affect your credit score.
• No origination fee. Barclays Personal Loans does not charge a loan origination fee.
• No late fees. Missing a payment can seriously damage your credit, but Barclays Personal Loans will not charge additional fees if you miss the due date on a payment.

Barclays personal loan Pros & Cons

Barclays personal loan FAQ

What interest rates and personal loan terms does Barclays personal loan offer?

Barclays personal loan has lower than average interest rates for lenders reviewed on SuperMoney.

What fees does Barclays personal loan charge?

What do you need to qualify for Barclays Personal Loans?

Barclays Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Barclays Personal Loans only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Barclays Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Barclays Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity
• Proof of citizenship or residence permit
• Proof of residence

What is the estimated funding time for a personal loan via Barclays personal loan?

Barclays personal loan will typically provide a credit approval decision in less than an hour and fund the loan within 4 business days.

Does Barclays Personal Loans report your account activity to credit bureaus?

Yes, Barclays Personal Loans reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Is Barclays Bank a legit company?

Barclays Bank was founded in 1896, it is a well-established company that has been in business for 126 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.