A loan is a perfect source of income when a business or an individual is in urgent need of cash. There are various reasons why one would be in urgent need of cash such as; debt consolidation, buying a car, settling bills, and also home improvements. In the modern day, getting personal loan has been so much simplified. The process and the requirements are so much simpler as compared to the traditional systems. This has been made possible due to the evolution of technology. This has made it possible to apply and acquire loans via a provided online platform. Barclays Online Loan would be a great alternative to meet your urgent needs. Let’s discuss about what are the requirements of getting a loan from Barclays?
Barclays is one of the most prominent financial institutions in the United Kingdom. Barclays provides an online means for their clients to apply for loan. This is a simple loan application process that allows clients to acquire and access their funds quicker via an online platform.
Barclays offers loans for both individuals and also business premises. The loan limit for a personal loan at Barclays ranges from £7500 to £15000. The loan is to be repaid in a period of 2 to 5 years. This loan is set to attract an interest of 5.5% APR representative. This means that, if a client is granted a loan amount of £10,000 to be repaid in a duration of 60 months, the client will have to pay monthly installments of £190.39, at a fixed rate of 5.5% p.a, adding up to a total repayable amount of £11,423.40 at the end of the payment period.
An online loan is a loan which is applied and acquired via an online platform or app. The online loan is quite simple and easy to access. This is because there is no paperwork involved and also no collaterals are required for the approval of the loan.
The loans offered differs from one client to another. This is determined by the credit rating of a particular borrower. Barclays is a very friendly financial institution as it also allows top up on loans. This means that clients with incompletely paid loans can still acquire and access new loans on top of the current loan. Due to this great customer relations, clients should not hesitate to apply for loan at Barclays when need be. The terms of the loan are simple.