Barclays Personal Loans: 2021 Review

At a glance


Bankrate Score

  • Availability
  • Affordability
  • Customer Experience

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About Barclays

  • Loan amount

    $5,000 – $35,000

  • Min. credit score

    Not specified

  • APR from

    4.99% – 20.99%

  • Funds available in

    Within a few business days

Barclays features

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


  • No fees
  • Low APRs
  • Payment flexibility


  • Invitation-only
  • Slightly longer funding period

You may know Barclays mostly for its credit cards and banking products, but in 2016 it introduced a competitive unsecured personal loan product geared toward 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 Prequalified for a Personal Loan

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 snapshot

Loan amount $5,000 – $35,000
APR 4.99% – 20.99%
Minimum credit score Not specified
Time to receive funds A few business days

Pros and cons of Barclays personal loans

Before applying for a Barclays personal loan, make sure to consider the benefits and drawbacks of the lender.


  • No fees: Barclays doesn’t charge any fees for its loan products — not even an origination fee, which is common among lenders.
  • Low APRs: Barclays targets people with good to excellent credit scores, and its rates are low as a result. Its highest APR is 20.99 percent, which is still significantly less than that of many lenders.
  • Payment flexibility: Barclays allows you to change your payment due date or pay your loan off early with no penalties.


  • Invitation-only: Personal loans from Barclays are only available to those who have received invitation codes by mail. These invitations target people with good or excellent credit.
  • Slightly longer funding period: Many online lenders make funds available within one business day of loan approval. Barclays disburses funds “in a few business days,” so it’s not the best choice if you need your money immediately.

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. And 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.

In order 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 Prequalified for a Personal Loan

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

Overall score 4.5
Availability 4.2
Affordability 5.0
Customer experience 4.3

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.