TSB Loans

Find out more about the personal loans offered by TSB, including how they work and how much you could potentially borrow.

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What our Nerds say about TSB Bank loans


TSB offers a range of financial products and services. These include a standard unsecured personal loan, small personal loans, and graduate loans.

Currently, loans of between £1,000 and £25,000 are available from TSB if you do not have a current account with the bank, and from £300 to £50,000 if you do.

TSB personal loans

Regardless of its purpose, all TSB personal loans are unsecured and come with a fixed interest rate.

The specific details of your loan will depend on whether it is a standard TSB personal loan, a small loan, or a graduate loan.

» COMPARE: Personal loans

How much can I borrow?

With a TSB loan, you may be able to borrow between £1,000 and £25,000 if you do not have a TSB current account, and between £300 and £50,000 if you do.

How much you borrow will affect your loan term. If you borrow between £300 and £999, your loan term can be between three and 12 months.

If you borrow between £1,000 and £25,000, your term can be between one and seven years.

Loans between £25,000 and £50,000 have a term of one to five years.

And if you apply for a graduate loan, your term will be between one and five years.

What are the interest rates on a TSB loan?

The interest rate on your TSB loan will depend on your personal circumstances, how much you want to borrow, and the term of the loan. It will be fixed for the lifetime of the loan.

Can I get a small loan from TSB?

TSB offers a specific small loan, where you can borrow between £300 and £999.999 over three to 12 months.

These small loans typically come with a higher interest rate than a standard personal loan.

As well as TSB’s standard eligibility criteria, you will need to have had a TSB bank account for more than three months to apply for a small loan.

Can I get a graduate loan from TSB?

It is possible to get a specific TSB graduate loan, allowing you to borrow between £1,000 and £10,000 over one to five years.

TSB graduate loans typically come with a higher interest rate than a standard personal loan.

You must have had a TSB Graduate Account for more than three months in order to be eligible.

Can I get a joint loan from TSB?

Currently, TSB does not offer joint loans.

With a joint loan, more than one person signs up for the loan, meaning that both borrowers are liable to repay the loan even if you weren't the one spending the money.

Can I get a secured loan from TSB?

Currently, you cannot get a personal secured loan from TSB.

Secured loans require you to supply an asset, such as a house or car, as collateral. This is not the case for unsecured loans.

» COMPARE: Secured loans

Pros and cons of TSB loans

TSB loans have advantages and disadvantages.


  • TSB offers dedicated small loans and graduate loans, as well as standard personal unsecured loans.
  • There are no charges for loan overpayments.
  • You can take up to two repayment holidays every 12 months.
  • You can apply online, over the phone or in person in a branch.
  • Tailored support is available for those who need it because of a disability.


  • Up to 58 days’ interest may be added if you settle your loan early in one lump sum.
  • You need to have a TSB current account to access a wider band of borrowing.
  • You can only apply for a loan if you are employed or are retired with a pension.

How do TSB loans work?

Once you have submitted your loan application, TBS will carry out credit and affordability checks.

If you are successful, you will be sent a loan agreement. After you have signed and returned it, TSB will deposit your funds into your bank account.

You will then start paying back the loan in monthly instalments, including interest, for the length of your agreed term.

Can I change my mind?

You can withdraw from your TSB loan within 14 days of signing the loan agreement.

If you do decide to withdraw from your loan, you will need to repay the total amount, including the daily interest charged, within 30 days of giving the lender notice.

Can I take a repayment holiday?

You are able to take two non-consecutive one-month repayment holidays within a 12 month period with your TSB loan.

You will still be charged interest for those months, and they will be added to your term length, meaning you will pay more interest overall.

To be eligible for a TSB repayment holiday, you must:

  • have made at least one repayment
  • have a direct debit set up
  • be up to date with all loan repayments, or have missed no more than one repayment
  • not be in the process of making a loan protection insurance claim
  • have at least 30 days left on your loan term

What if I miss a payment?

If you miss a loan repayment, you may incur extra charges and your credit score may be negatively affected.

If your financial circumstances change, or you have missed a payment, you should contact TSB as soon as possible. You may, for example, be eligible for a loan repayment holiday.

You can also contact debt charities such as StepChange for help.

Can I pay off a TSB loan early?

You can pay off your TSB loan early.

You will not be charged if you make loan overpayments. However, if you want to repay your remaining balance in full before the end of your term, you may be charged up to 58 days’ worth of interest.

What can I use a TSB loan for?

There are a number of ways you can use a TSB loan, including:

Buying a car

If you want to spread the cost of purchasing a new car over a number of months, or even years, then you could consider a TSB car loan.

Home improvements

From a fresh coat of paint to a brand new bathroom, you can pick the level of borrowing you need to do up your house with a TSB home improvement loan.


Whether you want to secure the venue of your dreams, ensure the perfect band is there for your big day, or close the deal with your chosen caterers, TSB wedding loans can contribute to your wedding costs.

Debt consolidation

If you have multiple debts across different lenders, you could use your TSB loan for debt consolidation.

This is when you pay off your existing debts with a new loan in order to reduce the number of monthly payments you need to manage.

Before consolidating your debt, you should calculate how much a new loan would cost you compared to managing your existing debts, as well as any early repayment fees.

It’s worth remembering that debt consolidation isn’t always cheaper, though it can potentially make it easier to budget if you are removing different outgoing payments from your budget.

Restricted uses

TSB specifies that you cannot use your loan for:

  • share purchasing
  • gambling
  • illegal activities
  • refinancing of Student Loans Company loans
  • purchasing, or providing the deposit for, a property
  • retaining property rights, such as repaying an existing mortgage
  • savings
  • paying household bills
  • business purposes

» COMPARE: Business loans

TSB loan eligibility criteria

In order to qualify for a TSB loan, you must be a UK resident over the age of 18 years old.

If you want to apply online, and do not have a TSB current account, you will need to be over the age of 21.

If you want to borrow less than £1,000, or more than £25,000, you will need to have had a TSB current account for longer than three months.

You will also need to pass the lender’s credit checks and affordability assessments. This includes having no previous declarations of bankruptcy or County Court Judgments (CCJs).

Can I get a TSB loan with bad credit?

As long as you have never been bankrupt, or had a Country Court Judgment, you can apply for a TSB loan if you have a poor or limited credit history.

However, you may find it harder to get a loan. And if you do, you may be subject to higher interest rates than you would be offered with a higher credit score.

» COMPARE: Bad credit loans

Can I top up a TSB loan?

You can add extra borrowing to your TSB loan by a minimum of £1,000 if you do not have a TSB current account, and a minimum of £300 if you do.

If you choose this option, the remaining balance on your existing loan will be combined with the extra amount you want to borrow in a new loan. This will be used to pay off your original loan and may come with a different interest rate.

Alternatively, you can take out a second TSB loan. Applications will be subject to new credit and affordability checks.

How to apply for a loan from TSB

If you have had a TSB current account for longer than three months you can apply online, in branch or over the phone. If you do not have a TSB current account, you can only apply online if you are over 21; otherwise you will need to apply in branch or by phone.

  1. Once your application has been submitted, TSB will carry out its credit checks and affordability assessments.
  2. If you are approved, you will be sent a loan agreement for you to sign and return.
  3. After you have returned your loan agreement, your funds will be placed into your bank account.

How long does it take for a TSB loan to be approved?

There are a number of factors that will determine how quickly your TSB loan is approved, including whether or not you are an existing TSB customer, and if the lender needs you to supply more information.

If you are an existing customer, you can expect to receive your funds immediately on the day of application, as long as you have applied between 9am and 8.30pm. Outside these hours, you should receive your money before 9am the next day.

If you do not have a TSB current account, your money will be deposited into your account by 7pm the following working day for applications completed before 6pm.

TSB customer reviews

TSB has a rating of 3.7 out of 5 on TrustPilot, based on over 16,200 reviews.

You should note that this score is based on all of TSB’s financial products and services, not just their personal loans.

This information is correct as of 3 October 2022.

TSB Loans FAQs

How do I borrow money from TSB?

To borrow money from TSB, you can apply for a standard personal loan, a small loan, or a graduate loan.

When applying, you will need to meet the eligibility requirements and pass the lender’s credit checks, in order to be successful.

Do I need a TSB bank account to get a loan?

You do not need a TSB current account to get a personal loan. However, if you have had a TSB current account for more than three months, you may be eligible for a different level of borrowing.

» COMPARE: Current accounts

About the author

Connor Campbell
Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The Independent. Read more