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Take a fresh look at borrowing with our Flexible Loan

Our Flexible Loan covers a wide range of borrowing options. Loans are available  from £1,000 to £25,000, with over 1-7 years to repay. A Flexible loan with Lloyds  Bank could give you 4.9% APR Representative for loans between £7,500 to £25,000 over 1 to 5 years.

With our Flexible Loan you also get:

  • Instant money in your account*
  • A personalised quote with no credit footprint
  • Great flexibility, with the option to overpay or even take a loan repayment holiday**
  • View your balance in Internet Banking
  • Pay off your loan early, completely free of charge***

Our loans are available to Lloyds Bank current account holders who have had an account for at least three months.

How much we lend and the rate available are subject to our assessment of your circumstances.

* If you are applying online, the funds will be transferred to your bank account immediately between the hours of 9:00am and 8:30pm, or before 9am the following day outside these times.
** Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you will pay more interest overall and your original term will be extended.
*** There is no Early Settlement Adjustment made on our Flexible Loan. However an Early Settlement Adjustment may be made on our other Loan products. Please see Managing Your Loan for more details.

To apply for a Flexible Loan, you need to be:

  • a Lloyds Bank Current Account holder who has had an account for at least three months
  • over 18 years of age
  • a UK resident

How much we lend and the rate available are subject to our assessment of your circumstances.

The interest rate of your Flexible Loan is personal to you and will depend upon factors such as the amount borrowed, the term of the loan and your personal circumstances.

To get a personalised quote log on to Internet Banking and click on Loans on the right-hand side.

Alternatively, to get an idea of what you might pay, use our Loan calculator.

Using the loan calculator puts you under no obligation to go ahead with the loan – it just lets you see how much you can borrow and what it may cost.

We’ll never encourage you to borrow more than you can afford. To help you get it right, we have lots of help and guidance.

Understanding loans

Understand loans with our video (opens in a new browser window).

Loans are a useful tool that can help you get what you want out of life. See how personal loans can help you sort out your finances and achieve your goals.

Read the video transcript

To get an idea of what your monthly repayments would be, try our loan calculator. Just enter how much you want to borrow and how long you want to take to repay it and we’ll estimate what your monthly repayments could be.

You can repay your loan in full or part at any time during the repayment period.

Find out more about managing your loan.

How much we lend depends on our assessment of your circumstances. The factors we consider when setting a Flexible Loan rate include:

  • your credit repayment history
  • past account history
  • other personal details held on our records

If you apply for a Flexible Loan online, you can get your money into your account instantly. The funds will be transferred to your bank account immediately between 9:00am and 8:30pm, or before 9am the following day outside these times.

You'll just need to complete the process by logging on to Internet Banking and signing in electronically. Then when you next log on, you'll be able to see your loan details on the Account Overview screen.

To manage your monthly loan repayments, we'll set up a Direct Debit – no need to sign and return any paper documents. You can see the details of the Direct Debit on the Account Overview screen.

If you're registered for Internet Banking you can get a personalised quote and a decision in just 5 minutes. If approved, you could have the money in your account instantly*.

If you aren't registered for Internet Banking you can still apply online. Your application will take about 10 minutes to complete and is totally secure.

  • You must be an existing Lloyds Bank current account holder for at least 3 months
  • You need to be over 18 years old and a UK resident

On the phone

0800 096 1356
Lines open 8am-10pm, 7 days a week

In branch

Our staff at your local branch will be happy to discuss your requirements. And they'll usually be able to give you an answer and the money in your account that same day.

* If you are applying online, the funds will be transferred to your bank account immediately between the hours of 9:00am and 8:30pm, or before 9am the following day outside these times.

** Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you will pay more interest overall and your original term will be extended.

*** There is no Early Settlement Adjustment made on our Flexible Loan. However an Early settlement Adjustment may be made on our other Loan products. Please see Managing Your Loan for more details.

For more information or to settle your loan simply call us on 0800 096 1282 (option 4). Lines are open between 8am and 10pm, seven days a week.

Glossary

Early Settlement Adjustment

You can repay your loan in full or in part at any time during the repayment period. If you choose to settle your loan before it’s completed its full term some of our loans may charge an early settlement adjustment.

If you have taken out a Flexible Loan you agree to repay the capital plus the interest as it accrues. If you pay off your loan in full before the end of the agreed term, we will calculate what you owe us at the time which will include capital plus interest accrued but no additional charge.

If you have taken out any of our other loans, the amount you agree to repay includes interest that is charged to the end of the loan term. If you make an early settlement we will reduce the charge for credit you have agreed to pay us which means you would not have to pay all of the interest. This reduction may be adjusted by up to 58 days interest - this is the early settlement adjustment.

Please see Managing Your Loan for more details.

APR and Representative APR

APR stands for Annual Percentage Rate and is the total charge for credit. It includes the interest rate plus any fee that we charge for the loan as a whole.

You can use APR to compare the total cost of different loans.
 
Representative APR

It is the rate most customers are currently expected to receive.

Repayment

With a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment.

With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan.

Credit rating

Your history with credit is summarised into your credit rating. Having a long history of paying your loans, bills and credit cards on time means you’ll have a high credit rating. Missing payments or defaulting on loans, borrowing and bills results in a lower score.

When you apply for a loan or credit card, the financial institution will look at your credit rating to see how risky the deal would be for them. They use this information to help decide whether to offer you credit, and if so, what kind of interest rate and terms you’ll receive.

Next steps:

Get a personalised quote

Get a personalised quote in minutes with no credit footprint.

Internet Banking users

    Not registered for Internet Banking

      Apply now

      Internet Banking users

      You can apply online through Internet Banking if you have held a Lloyds Current Account for more than three months and get a decision in just minutes. If approved, you could have the money in your account instantly.*

        Not registered with Internet Banking

        Your application will take about 10 minutes to complete and is totally secure.

          Contact us

          0800 096 1356

          8am-10pm, 7 days a week.

            In branch