Borrow more on your Personal Loan

Looking to borrow more? You could replace your current loan or take out a second loan.


 

Important information: How much we lend and the rate available are depending on our assessment of your circumstances. You must be age 18 or over, and a UK resident. You must have had a Lloyds Bank current account for at least 1 month.

Can I borrow more?

Yes, you’ll need to meet our lending criteria. You’ll also need to have a Lloyds Bank Loan in your name only.

We can’t accept an application to borrow more if the existing loan is a loan in joint names. 

Just be aware, there are things you can't use a loan for.

Getting a quote won’t affect your credit score.

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What can I use a loan for?

You can use a loan for just about anything, such as:

How much can I borrow?

  • You can ask to borrow between £1,000 and £50,000 on top of your existing loan with us, up to a maximum of £50,000.
  • Select a repayment term between 1 and 7 years.
  • The decision to lend and the rate offered is based on our assessment of your personal circumstances.

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £237.16. Total amount repayable will be £11,383.68 Representative 6.7% APR, annual interest rate (fixed) 6.5%.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. The maximum APR is 29.9% APR.

Is a personal loan the right option for you?

When borrowing money, you need to make the right choice for you and your circumstances. Other borrowing options may be more suitable.

Other borrowing options

How it works

If you’d like to borrow more, you have two options.

Option 1 - Replace your current loan with us for a new loan

You can combine an existing loan and new borrowing into one manageable loan. 

How combining the loans works:  

  • Request a loan amount from £1,000 up to a maximum of £50,000.
  • Select a repayment term between 1 – 7 years. 
  • We’ll automatically close your old loan as part of the application process.
  • We’ll move any outstanding balance to the new loan. 
  • We’ll set up a Direct Debit for the new monthly payment. 
Apply now

Option 2 - Apply for another loan

You can borrow more by taking out a completely new loan. 

How it works:  

  • Request a new loan amount from £1,000 up to a maximum of £50,000. 
  • Select a repayment term from 1 – 7 years. 
  • The new loan will run alongside your current loan. 
  • Each loan will have its own term and monthly repayment amount.
     
Apply now

Things to consider

Your new loan could be charged at a higher interest rate over the new loan term you’ve selected. This means you could pay more interest overall. 

There may be an early settlement charge when you close your existing loan. It won’t be more than 58 days’ interest. We’ll tell you how much will be charged when you apply for the new loan.

Visit your nearest branch or call us on 0330 123 3890 to discuss your borrowing needs. 

Lines are open 8am-10pm, 7 days a week.

Quick and easy

Get a quote - just log on to Internet Banking for a personalised quote. This won't affect your credit score.

What's in the quote - usually we'll tell you how much you can borrow and if you're likely to be approved before you apply.

Receive your money quickly - and into your bank between 9am-8:30pm, or before 9am the next working day.

Offering you flexibility

Once your loan is agreed, the money could be in your account the same day, 9am-8.30pm, or before 9am the next day.

Repayment holidays - you can apply for up to two repayment holidays of 1 month in a rolling 12-month period, if approved. Interest will still be charged for the months that you don’t make any payments, so you'll pay more interest overall and your original term will be extended.

Make additional payments with no extra charge.

Or pay off your loan early.  Just be aware, we'll charge up to 58 days' interest for early settlement.

Get a quote in minutes

  • Log on to Internet Banking to get a personalised quote.
  • Tell us how much you want to borrow and over how long to get a quote in minutes.
  • This won't affect your credit score.
  • If you go on to apply, you’ll get an instant loan decision online.
Log on to get a quote

Other ways to apply

Apply in branch – our local branch will be happy to help you apply for a loan.

Find your nearest branch 

Apply over the phone – if you have a:  

  • Lloyds Bank Current Account, call us on 0330 123 3890.
  • Credit card, mortgage or existing loan with us, call us on 0330 123 4715. 

Speak to an adviser 8am-10pm, every day.

More about loans

Further support

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.