Halifax Bank Loans

784 reviews

Representative 3.9% APR

Will lend between: £1,000 - £25,000

Over: 12 - 84 Months

Representative example: If you borrow £10,000 over 48 months at a Representative rate of 3.9% APR and an annual interest rate of 3.83% (fixed) you would pay 48 monthly repayments of £225.04. The total charge for credit will be £801.92 and the total amount payable will be £10,801.92

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Halifax Bank Loans customer reviews.

784 reviews

1.6 out of 5 stars

Our review of Halifax Bank Loans

Halifax offer a really reasonable representative APR of 3.5% on their loans, so it’s going to come as no surprise to find out that customers will need to have good credit history to be approved for a loan. Their other criteria are fairly standard for the market, but you will need to have a Halifax current account for at least a month, or already have a mortgage, credit card or loan with them.

It’s worth making sure that you have online banking with Halifax as it means you can apply for their Online loan. With this you’ll be able to get a quote in one minute with no credit search and if approved you’ll receive the funds within minutes. The interest rate is fixed for this loan and although you can make overpayments with no charge, if you settle the loan early then you may be charged up to 58 days’ interest.

The Clarity loan also takes only a minute to get your quote online, however if you’re approved it can take up to 72 hours to receive your loan. There are no fees or charges for setting up this loan and unlike their other loan option, you don’t have to pay any fees for settling the loan early.

As with some other bigger banks on Choose Wisely, online reviews can be fairly scathing. On TrustPilot Halifax have received a score of only 1.8 – although this is spread across all their products, not just their loans. Negative reviews seem to spawn from their levels of customer service and lack of personal touch for customers that call in. On the other hand, Choose Wisely has a number of positive reviews for Halifax personal loans – these customers have enjoyed the smooth process, good interest rate and appreciated the online application.

Overall verdict: It’s a shame that Halifax have had such bad reviews when it comes to the customer service side of things, as loan customers seem to have a positive journey up until that point. If you have good credit and are happy banking with Halifax, then they may be a good option for you – just make sure you meet their criteria before applying as failure to do so may harm your credit score.

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.


  • No charge if you pay off your Clarity loan early
  • Current account holders can apply online
  • Low representative APR

Minimum criteria

  • You must be an existing Halifax customer
  • You must be a UK resident
  • You must be aged 18 or over
  • You will need to be in paid employment or have a regular income
  • You have not been declined for credit in the last month
  • You must have good credit


  • Maximum APR 29.9%
  • Arrangement fee: £0
  • Early repayment fee: £25
  • Late payment fee: £25

About Halifax Bank Loans

Halifax, one of the biggest high street banks, lend between £1,000 and £25,000 that can be repaid over one to seven years at a representative APR of 3.5% for loans between £7,000 and £25,000. As with most lenders on the market, the actual rate of interest you receive will be decided by your personal circumstances and may differ from the APR advertised. To apply for the loan you will need to have a good credit history and not been declined credit in the last month. You will also need to have held a Halifax current account for at least a month, or have a Halifax mortgage, credit card or loan.

Halifax offer two types of loan; Online, for customers who have online banking, and Clarity, for those who don’t. Both have various benefits and slight differences – Online means you can easily access your account and manage it, but Clarity means there is no charge if you settle your loan early. Most customers will receive the funds instantly, however there is a chance that it could be up to 72 hours from when Halifax receive the signed loan documentation.

Company information

Registration number: SC327000


08457 283848

The Mound, Edinburgh, EH1 1YZ

FCA registration

Reference No: 169628

Trading names: AA, AA Account, AA Visa, AA Visa Card, Bank of Scotland PLC

Place of business: The Mound, Edinburgh EH1 1YZ

Data protection registration

Registration No: Z7828948

Data controller: Bank Of Scotland PLC

Address: The Mound, Edinburgh EH1 1YZ

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