Lloyds Bank Loans

1457 reviews

Representative 3.9% APR

Will lend between: £1,000 - £35,000

Over: 12 - 60 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 instalments 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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Lloyds Bank Loans customer reviews.

1457 reviews

1.7 out of 5 stars

Our review of Lloyds Bank Loans

Lloyds Bank are one of the most well-known banks in the market. Their flexible personal loan, is available at a representative APR of 3.9% and customers are able to borrow between £1,000 and £50,000 over one to seven years.

The online quote is personalised and doesn’t leave a footprint on your credit history and if you’re successful then funds can be in your account almost instantly. You will need to have a Lloyds current account and have held this for three months to apply, as well as good credit history. If you think there is something on your file that may mean you’re declined, then look for alternatives as you don’t want to harm your credit further.

If you have internet banking, you have much more flexibility with your Lloyds Bank loan. You’re able to view your payments history, make early repayments and see how long you have left on your loan term. Customers are also able to request repayment holidays of one month, however this does mean that in the long run you will be charged more interest and the original loan term can be extended.

Looking at TrustPilot I can see that Lloyds have a ‘bad’ rating and only a score of 2.2 out of 10. Scrolling through the reviews on there I can see that these are for the bank in general rather than loans specifically. On Choose Wisely there are mixed reviews – some customers seem to have had bad experiences, whilst others praise Lloyds Bank’s customer service, quick application process and ability to take repayment holidays.

Overall verdict: Lloyds Bank offer flexible loans at a reasonable representative APR, free early repayment and payment holidays. They seem to try to make their customers’ lives easier, however there are reports of poor service when trying to deal with bigger banks. If you have good credit and have a had a positive experience with Lloyds in the past then it could be worth looking at them as an option, if you don’t already bank with them then it may be worth shopping around.

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.


  • Free personalised quote leaves no credit footprint
  • 0.5% discount applied for Club Lloyds customers
  • Repayment holidays available
  • Flexible repayment options

Minimum criteria

  • Must have had a Lloyds Bank current account for at least 3 months
  • You must be over 18
  • You must be a UK resident
  • You will need to have good credit


  • Maximum APR 26.7%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Lloyds Bank Loans

Lloyds Bank offer personal loans between £1,000 and £50,000 to be repaid between one to seven years. Their representative APR is 3.9% (this representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years).  APRs are dependent on the amount borrowed, loan term and personal circumstances, so might change during the application process.

To apply for a loan, you will need to be over 18 years old and a UK resident. You will also need to have held a Lloyds Bank current account for at least three months prior to the application. If you are successful with the application then funds can be transferred to your account immediately, as long as it has been completed between 9am and 8:30pm.

There are no arrangement fees and customers are able to pay the loan back early with no extra charge (if you have the Lloyds Bank Flexible Loan, other loans with them may have early settlement charges). Customers are also able to take repayment holidays, however you need to meet certain criteria and these cannot be taken consecutively.

Company information

Registration number: 00002065



25 Gresham Street, London EC2V 7HN

FCA registration

Reference No: 119278

Trading names: Lloyds Bank PLC, Lloyds Bank, Black Horse Specialist Mortgages

Place of business: 25 Gresham Street, London EC2V 7HN

Data protection registration

Registration No: Z5313128

Data controller: LLOYDS BANK PLC

Address: 25 Gresham Street, London EC2V 7HN

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