Barclays Personal Loans: Where to Find Alternatives
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Barclays no longer extends or accepts applications for unsecured personal loans, according to George Caudill, vice president of media and public relations at Barclays. This information is up to date as of June 2021.
If you’re looking for a personal loan, you can find similar options at other banks, online lenders and credit unions.
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Personal loan alternatives to Barclays
Banks
Banks tend to offer lower rates on personal loans for good- to excellent-credit borrowers (690 FICO or higher). Some banks require you to apply in person or be an existing customer. Customers may have access to exclusive perks. However, not all banks allow you to pre-qualify, and funding may take longer compared with other types of lenders.
Our pick for flexible payment options: Marcus
Marcus offers personal loans up to $40,000 to borrowers with good credit. Its loans include nine repayment options, giving you more flexibility in choosing a monthly payment that best fits your budget.
Pro: No fees.
Con: No co-signed, joint or secured loan options.
» MORE: Read our Marcus review
Our pick for low rates: LightStream
LightStream offers personal loans up to $100,000 to good-credit borrowers. Its loans have particularly low rates, meaning you’ll pay less interest overall. It also provides a rate-beat program if you find a lender that offers a lower rate for a similar term.
Pro: Rate discount for autopay.
Con: No option to pre-qualify on its website.
» MORE: Read our LightStream review
Our pick for debt consolidation: Discover
Discover offers personal loans up to $35,000 for borrowers with excellent credit. It’s an especially good choice if you’re considering debt consolidation, since it will send the funds to your creditors within one business day of approval.
Pro: Provides customers with a free FICO scorecard.
Con: No co-signed, joint or secured loan options.
» MORE: Read our Discover review
Compare personal loans
Here are three lenders to consider as alternatives to Barclays. NerdWallet recommends pre-qualifying with multiple lenders to compare rates.
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|---|---|---|
Est. APR6.99-22.23% | Est. APR6.99-19.99% | Est. APR4.99-19.99% |
Loan term2 to 7 years | Loan term3 to 6 years | Loan term2 to 7 years |
Loan amount$5,000-$100,000 | Loan amount$3,500-$40,000 | Loan amount$5,000-$100,000 |
Min. credit score680 | Min. credit score660 | Min. credit score660 |
Online lenders
Online lenders cater to borrowers across the credit spectrum, including those with fair and bad credit (689 FICO or lower). They let you pre-qualify to see what rates you can get and will typically fund your loan the same or next business day after approval. However, rates can be higher compared to other types of lenders.
» MORE: Compare the best online loans
Our pick for borrowers with good to excellent credit: SoFi
SoFi offers personal loans up to $100,000 for borrowers with good to excellent credit. As a SoFi member, you can access special features, including free career and financial advising, referral bonuses, local networking events and more.
Pro: Rate discount for autopay.
Con: No secured loan option.
» MORE: Read our SoFi review
Our pick for borrowers with fair credit: Upgrade
Upgrade offers personal loans up to $50,000 for borrowers with fair credit. When reviewing applications, Upgrade pays close attention to free cash flow, which may help borrowers who have a monthly surplus in their budget qualify for a personal loan.
Pro: Allows secured, co-signed and joint loans.
Con: Charges origination fee.
» MORE: Read our Upgrade review
Our pick for borrowers with bad credit: Upstart
Upstart offers personal loans up to $50,000 for bad-credit borrowers. Unlike many lenders, Upstart uses artificial intelligence and nontraditional data — like college education, job history and residence — when evaluating applications.
Pro: Accepts borrowers new to credit.
Con: Borrowers can choose from only two repayment term options.
» MORE: Read our Upstart review
Credit unions
Credit unions typically offer low rates on personal loans. If you have fair or bad credit, your credit union should be your first stop for borrowing money, but you may need to become a member before applying. Membership can depend on where you live, work or worship.
Our pick for small loans: PenFed
PenFed offers small loans starting at $500. Though good credit borrowers are preferred, if you have fair or bad credit, a history of making on-time payments toward other debts and consistently keeping your bank account above $0 may help you qualify.
Pro: Soft credit check with pre-qualification.
Con: No option to change your payment date.
» MORE: Read our PenFed review
Our pick for military members and their families: NavyFed
NavyFed offers a wide range of loan amounts — $250 to $50,000 — making it an especially flexible option for borrowers. However, personal loans are available only to existing Navy Federal members, which include military members and their families.
Pro: Able to fund loans same-day.
Con: No option to pre-qualify.
» MORE: Read our Navy Federal review
Other Barclays offerings
Barclays offers other products, including:
