TSB loans review
TSB offer personal, unsecured loans both to existing TSB customers and new customers. TSB loans can be used for a variety of purposes and offer a fast way to access money when you need it.
Advantages of TSB loans
With a personal loan from TSB, you can:
- Borrow from £1,000 to £25,000
- Repay over 1-7 years
- Have the money in your account on the same day you apply (subject to circumstances)
- Apply online, in branch or by phone
- Take the option of two repayment holidays a year
- Pay no arrangement fees
- Repay early in part or full at any time (fees may apply)
Are you eligible for a TSB personal loan?
To apply for a TSB personal loan, you must be:
- Over 18 (over 21 to apply online if you do not hold a TSB current account)
- A UK resident
- On the electoral roll
- Earning in excess of £10,200 annually
- Not subject to bankruptcy or any County Court Judgements (CCJs) in the last 5 years
Interest rates on TSB loans
Interest rates on TSB personal loans are usually fixed for the entire life time of the loan. This means you will know exactly how much you will have to repay each month when you take out the loan.
The actual interest rate you will pay on a TSB personal loan will depend on a number of factors, including:
- The amount you borrow
- The time you choose to repay over
- Your credit rating
Generally speaking, the less you borrow, the faster you repay it and the better your credit rating, the lower your interest rate will be.
Alternatives to TSB personal loans
If you are looking for a loan to buy a car, TSB offer car loans from £1,000-£25,000 over 1-7 years. They also offer specialist advice and support for car owners.
If you are a graduate, you may be able to borrow from £1,000-£10,000 over 1-5 years as a graduate loan. This can be used to help manage your finances or put towards the cost of professional development.
If you need to borrow more than £10,000 and are an existing TSB mortgage holder, you may be able to take out an additional secured loan against your property. This can be used for home improvements or a large one-off purchase.
To qualify, you must have had your TSB mortgage for at least 6 months and the new loan must not take your total secured borrowing over 85% of the value of your home.
Find the most competitive rates on TSB personal loans
TSB are just one of the many lenders who offer personal loans – in fact most high street banks and many private lenders offer them. To find the most competitive rates on a personal loan, you need to compare as many different lenders as possible to see which offers the lowest interest rates for your borrowing needs and personal circumstances.
The personal loan comparison tool at the top of this page lets you quickly and easily compare personal loan products from all the leading lenders. We keep these deals regularly updated, so make sure to keep checking back for the latest personal loan deals.