Barclays features

Here's a breakdown of some of the benefits and drawbacks of Barclays personal loans.


  • No fees for any of the loan products
  • Low APRs with highest at only 20.99%
  • No penalties for changing payment due dates
  • No penalties for paying off the loan early


  • Only available to those who receive mailed invitation code
  • Slightly longer funding period

Barclays is a transatlantic financial institution that traces its roots to its first London bank in 1690. Today, it serves more than 40 countries with products, like credit cards and banking products.
Its online, unsecured personal loan product was launched in 2016 and was primarily developed for American borrowers. Barclays’ personal loans are available by invitation only; however, if you’ve received an invitation code and you have good to excellent credit, you might want to consider applying.

Get pre-qualified

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

Barclays is best for those who are personally invited

The best candidates for personal loans from Barclays are individuals who received a targeted invitation to apply for the lending product and who’ve demonstrated strong creditworthiness. Those with strong credit have the best chance at being eligible for a competitive interest rate.

Those with a low credit score might not qualify for the lender’s lowest loan rates, and therefore, might not be a good fit for this lending product. Additionally, the application process is performed fully online, so applicants should also be comfortable with a digital personal loan experience.

Lending terms

Barclays offers personal loans from $5,000 to $35,000. Fixed-rate loan rates range from 4.99 percent APR up to 20.99 percent APR, depending on your creditworthiness. It provides 36-, 48- or 60-month repayment term options. Funds are deposited within a few business days after you’re approved for a loan.

Barclays’ website says its unsecured loans are offered to borrowers with a “proven ability to manage credit.” Barclays doesn’t provide a minimum credit score to qualify, but those with below-average credit could end up with a rate as high as 20.99 percent. If your credit could use some work, you might want to shop at another lender.

Fees and penalties

Barclays is a completely fee-free lender. There are no origination fees, late payment fees or prepayment penalties. This means that you can pay your loan off early. If you make a late payment, your loan balance will continue to accrue interest, but you won’t get hit with a penalty.

How to apply for a loan with Barclays

Barclays’ personal loan application is completely online. You can get started by visiting the website listed on your invitation and entering your invitation code.

To apply, you’ll need to provide your loan purpose, desired loan amount, name, address, employment information and other contact and personal information.

After you fill out the application, Barclays will request documents with a message sent through its application center. Documents can be uploaded in the application center as well.

Keep in mind that it’s important to shop around before settling on a lender. While Barclays offers low rates and no fees, it’s possible that you’ll find a better deal from another lender. Compare personal loan rates based on your specific needs and credentials as a borrower, including your credit score, location, income, loan purpose and desired loan amount.

Get pre-qualified

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

How Bankrate rates Barclays

Bankrate Score 4.5 Scoring factors
Availability 4.2 Fast time to approval and funding
Affordability 5.0 Minimum APR is below average and there are no fees
Customer experience 4.3 Online application and account access but no specified customer support hours

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.