Barclays Personal Loan:
Barclays personal loan offerings are for people who are in need of loan of amount between £1,000 and £35,000. Loan terms can vary from 2 years to 5 years. Considering this we can say that Barclays personal loan services are fairly short term.
Talking about the advantages of Barclays personal loan service is that the amount is transferred to your bank account instantly in case you’re eligible for the particular loan and your details are verified. As far as the eligibility is concerned, you can use Barclays loan calculator to figure out.
Besides this, Barclays price-match guarantee scheme ensures that you are not overpaying. Going into explanation of price-match guarantee scheme, if you find lower price of exact type of loan from some other loan provider, Barclay will cut down the cost of your loan as well as will pay you 50 pounds for putting efforts into the same.
Considering UK loan rules and regulations, it is also worth to know that you have the legal right to payback your loan amount early in caseat some point you have the extra money available with you. However, there is a charge equal to 30 days of interest that is applied if you opt for the same.
Eligibility Criteria for Barclays Personal Loan:
If you’re looking forward to apply for personal loan with Barclays bank, there are some eligibility criteria you should qualify.The first and foremost requirement to apply for loan is that you must be over 18 years of age. Alongside you need to be a UK resident and have a Barclays current account.
Bank will also perform a credit check in order to make sure that you are likely to pay back the loan amount you are applying for.
Regardless of what you will be using the sanctioned loan for, the interest rate on the loan will remain same. In comparison with credit cards or overdrafts the interest rate of Barclays personal loans is usually lower.
Expert Advice on Barclays Personal Loan:
Applying for personal loan with Barclays may be the right decision for you if you are seeking to make a mid-sized purchase or consolidate a number of other loans. As per the stats available, people in UK typically use this kind of loan purchasing a car, home improvements or consolidating debts.
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