Highlights
Community Rating	Rating not yet determined
APR (Fixed APR)	4.99% - 20.99%
Loan Amount	$5,000 - $35,000
Loan Term (Months)	36 - 60 months

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 Loans Pros & Cons

Pros	Cons
Low APRs available to qualified borrowers. $0 prepayment fee. $0 origination fee. Funding available within 4 business days.	APRs as high as 20.99%. Only considers applicants with good credit.

Barclays Personal Loans FAQ

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

Barclays Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What interest rates does Barclays Personal Loans offer?

Barclays Personal Loans offers a fixed APR personal loan product that ranges from 4.99% APR up to 20.99% APR.

How much can you borrow via Barclays Personal Loans?

Loan amounts start at $5,000 and go up to $35,000

What is the maximum personal loan term you can get with Barclays Personal Loans?

Barclays Personal Loans offers loans with terms ranging from 36 to 60 months.

Barclays Personal Loans Interest Rates & Loan Terms
Personal Loan Amount	$5000 - $35000
Loan Term	36 - 60 months
APR	4.99% - 20.99%

What fees does Barclays Personal Loans charge?

Does Barclays Personal Loans charge an origination fee?

Barclays Personal Loans does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Barclays Personal Loans charge a late fee?

No, Barclays Personal Loans will not charge you a late fee if you miss one of the monthly paymenbts.

Does Barclays Personal Loans charge prepayment fees?

No, Barclays Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Barclays Personal Loans Fees
Origination Fee	N/A
Prepayment Fee?	No
Late Payment Fee	N/A

What do you need to qualify for Barclays Personal Loans?

Applicants with a credit score of at least 700 and up to 850 may be eligible for Barclays Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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

Barclays Personal Loans Eligibility Criteria
Minimum Age	18
Bank Account Required?	No
Application Types Accepted	Individual Applications
Credit Score	700 - 850

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

Barclays Personal Loans 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.

Barclays Personal Loans Disclosure: Annual Percentage Rates (APR) range from 5.74% to 20.99% and will be determined based on your creditworthiness and loan term. Loan amounts range from $5,000 to $35,000. Loan terms are 36, 48 or 60 months.

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Message From Our Editor

What we love about Barclays Personal Loans

Barclays offers personal loans with some flexibility in the amount and the term of the loan. Most people will be able to borrow enough to meet their financial needs and will be able to choose a term that results in a manageable monthly payment.

Barclays operates primarily as an online bank in the United States, meaning its lending process happens online. Customers can fill out an application quickly and easily from their computer. Prequalifying is fast and doesn’t affect your credit, giving you the chance to see what interest rates you can qualify for.

What could Barclays Personal Loans do better?

One drawback of Barclays personal loans is that they have a relatively high minimum loan amount. If you’re trying to cover a small gap in your budget, you may have to borrow more than is necessary if you work with Barclays.

Another drawback, for some people, is that the company’s lending services are purely online. You won’t even get paper statements. If you like doing business in the physical world this could be an issue for you.

The company’s interest rates also tend to be higher than much of the competition. If you’re looking for the least expensive loan possible, you’ll likely find a better deal elsewhere.