Use our Lloyds loan calculator to get an idea of how much you'd pay back on a fixed-rate, unsecured Lloyds personal loan as an existing customer (which you'll need to be, in order to apply). Loan amounts between £1,000 and £50,000 with rates starting from 6.4%.
Table: sorted by representative APR, promoted deals first
1 - 1 of 1
Compare other products
We currently don't have that product, but here are others to consider:
How we picked these
Finder Score for unsecured loans
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Our calculator lets you pick how much you want to borrow over a time frame that suits you, so you can estimate how much you would pay back each month and pay back overall. We base our calculations on Admiral’s representative APR, but it’s important to note that your circumstances can affect the rate you’re offered.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
How do Lloyds Bank loans compare against the competition?
See today's rates from across the personal loan market.
The Lloyds Bank Existing Customer Personal Loan charges 6.4%APR representative on loans between £7,500 and £25,000. Lloyds offers the unsecured personal loan with repayment terms between 1year and 7years, and applicants can apply to borrow from £1,000 to £50,000.
Loan type
Unsecured Personal Loan
Loan amounts
£1,000.00 to £50,000.00
Loan terms
12 months to 84 months
Loan rate type
Fixed
Product fee
0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methods
Direct Debit
What is Lloyds Bank?
Lloyds bank plc is a retail and commercial bank founded in Birmingham 1765, considered one of the “big four” banks in the UK. You can apply for a personal loan from Lloyds online, in branch or over the phone.
If you’re looking to buy a new car, consolidate debt, refurbish the kitchen, or take that desperately needed holiday, Lloyds offers a wide range of borrowing options.
Key features of Lloyd’s personal loans
Lloyds offers unsecured personal loans, meaning they’re based on creditworthiness, rather than using property, vehicles and other assets as collateral. The loans are available over a period of 1-7 years for loans between £1,000 and £50,000.
While Lloyds rates are normally competitive, the representative APR may not be the rate you’ll receive: Lloyds will offer you a rate based on an assessment of your personal financial circumstances.
Quick overview of Lloyds Bank personal loans
Loan amounts
From £1,000 to £50,000
Loan terms
From 1 year to 7 years
Age eligibility
18 years and over
Application fee
No application fee
Repayment holiday
Repayment holiday not permitted
All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
APR and Representative APR explained
The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because Lloyds doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what Lloyds gives to at least 51% of those who take out the loan. At the top end of the market – where Lloyds fights it out among the high-street banks and supermarkets – chances are that 49% of customers are receiving a higher APR. With Lloyds, you'll need a good credit score to get approved and a great credit score to bag that representative APR. Lloyds must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
Lloyds advertises a representative APR of 6.4% on loans between £7,500 and £25,000 on the Lloyds Bank Existing Customer Personal Loan.
Am I eligible for a Lloyds personal loan?
When applying for a Lloyds personal loan, factors such as your credit history, income and the amount you apply for will be considered. You also need to be certain you can meet the repayment terms. You’ll then also need to meet the following criteria:
You must be aged over 18 years old.
Have a valid form of ID.
You must be a UK resident.
However because Lloyds personal loans are only available to Lloyds current account holders, if that includes you, you may not need to jump through so many hoops!
What credit score do I need to get a Lloyds loan?
Lloyds typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that Lloyds considers. However, if you don't have a high credit score, you're very unlikely to get approved for a Lloyds loan.
A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.
Do Lloyds loans give an instant decision?
Yes, Lloyds offers instant decisions online in most cases. (Occasionally, more information may be required.) First, you can use the soft-search eligibility checker to find out your chances of getting approved. (This won't affect your credit score.) Then, if you opt to go ahead and apply, you'll get an instant answer. Lloyds can also offer same-day funding of your loan.
Can I get a second Lloyds loan?
Yes, Lloyds allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, Lloyds also allows you to effectively "top up" your loan by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to 2 months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the 2.
Can I make overpayments on a Lloyds loan?
Yes, you can make overpayments without incurring any penalty fee. However, Lloyds can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.
How do I apply?
If you’ve decided that a Lloyds personal loan is for you, then you can apply online by logging in to your existing Lloyds bank account and following the loan application process.
Does Lloyds offer debt consolidation loans?
Yes, Lloyds offers personal loans for debt consolidation for up to £35,000. As with a regular Lloyds loan, you’ll need to have good credit, and be an existing Lloyds Bank current account holder. With a Lloyds debt consolidation loan, you’ll also have the option of repayment holidays, additional payments and early repayment.
Lloyds customer reviews
Lloyds Bank has received mostly negative reviews from customers, according to review platform Trustpilot. It currently has a rating of 1.7 out of 5, based on more than 4,500 reviews (updated May 2024). Some customers reported issues getting a loan, as well as poor customer service.
Case study: Jenny took out a Lloyds personal loan to pay off some house renovations
"I needed to get a loan because I’d been renovating my house and I overspent. So I got the loan to consolidate my debt. I wasn’t totally happy about the interest rate the Lloyds offered me but I decided to get the loan from Lloyds because I banked with them. This meant it was easy and fast to get the loan – I got the money the same day I applied.
If there’s one thing you’d tell a friend who’s thinking of getting this, what would it be?
My tip would be to always look really carefully at what it’s going to cost you to pay back the whole loan. For me, it was a lot more than I’d thought."
Jenny Williams
St Albans
Customer support
To get in touch with customer support for personal loans, you can call Lloyds on 0330 123 3890, or you can message customer services via the Lloyds app.
Frequently asked questions
Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you’ll pay more interest overall and your original term will be extended.
You can apply for a personal loan online, in branch or over the phone – as long as you’re an existing Lloyds customer.
Yes, you can pay your loan back early with no fees. However, you may be charged to up to 58 days interest.
It’s important to check the early repayment terms before applying for any personal loan. If there’s a likelihood that you’ll be able to clear a loan early, then good early-repayment terms should be an important factor in deciding which lender to use.
No, Lloyds personal loans are only available to Lloyds Bank current account holders who have had an account for at least one month.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
Chris's expertise
Chris has written 555 Finder guides across topics including:
Izzy Thomas is a senior associate publisher at Finder specialising in credit-based products including credit cards, business loans and personal loans. Izzy has a Masters in Publishing and a Bachelor of Arts in International Business Management. See full bio
Izzy's expertise
Izzy has written 21 Finder guides across topics including:
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
