Lloyds Bank Loans Review
Lloyds Bank Loans offers to lend a minimum of £1,000 and a maximum of £50,000 Personal loan.
It is quick to apply, it is secure, and clients will have enough time to pay back. Usually from 1-7 years.
Types of Loans offered by Lloyds Bank
An advance will come in handy for borrowers if needed to clear debts, buy a car or improve home. With Lloyds Bank, getting credit whenever you require is simple. All the clients need is to be over eighteen years old, and a UK citizen who has held a current bank account for more than a month.
The amount to loan is subject to the bank’s assessment of customers financial history.
Lloyds Bank loans UK are categorized into two major types: personal and flexible advances. ( Personal Loan) There are other types, however, such as the car, home improvement, debt consolidation, and joint credits.
Personal Finance Options
- Personal Advances (Loans) – Application of this can be online or through the telephone. Borrowers are applicable for it if they are one or more months Lloyds Bank Account holder. Note that most of these advances are unsecured (the bank do not take any of customer assets as collateral). Borrower can manage it through the internet banking. When settled the loan early, the bank charges applicant a maximum of 58 days interest.
- Flexible Advances (Loans) – application can be at any of their branches. Debtors can manage this advance through Phone Bank, Internet Banking, and Branch. Customers are not charged to pay off the credit early. Amounts that you are Eligible to Borrow
Customers can to borrow a minimum of £1,000 and a maximum of £50,000 at Lloyds Bank. It is quick to apply, it is secure, and clients will have enough time to pay back. Usually from 1-7 years. After borrowing the personal loan, borrower will make fixed repayments. It is also possible to make additional payments whenever they want to.
There is also another option to choose from, £7,500- £25,000. The choice comes in handy when a client wants to borrow more on top of their previous advance. The amount pay back is in 1-5 years. Lesser rates will charge on this option.
What you need to know about Lloyds Bank Interest Rates
The interest rates differ depending on the type of credit and amount borrowed from the bank. When a customer apply for a personal advance, they will be charged a 3.9% APR Representative (this is on £7,500-£25,000 credit.) When borrowing a flexible advance of £1,000-£50,000, on the other hand, will paid 4.6% APR Representative.
Once customers meet certain conditions, they can get a repayment holiday from the bank. Make the wisest choice when it comes to borrowing money. Visit Lloyds Bank and learn more about their advances and make any other inquiries.