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Loan for Debt Consolidation

Get on top of your borrowing

Taking control of your borrowing could be more straightforward than you think. By bringing it all together into one Personal Loan we could help you on the way to becoming debt-free with:

  • a fixed monthly payment to help you budget more easily, and
  • a clear date that your borrowing will be paid off by.

Applying for a Personal Loan online is easy. But you’re not alone – if you’d prefer some guidance with a debt consolidation loan your local branch will be happy to help.


Remember if you refinance existing debts, you may pay a higher rate of interest or make repayments over a longer term with a debt consolidation loan. This means that you may pay more interest overall.

Two steps to help get you started

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1. Review your finances

  • List out your regular outgoings and compare them to what’s coming in. This can help you see how much you could afford to pay back monthly
  • Decide which direct debits/standing orders you need. Are you paying for anything unnecessarily such as old memberships?
  • Review all your accounts. Is there any money you can use to pay off some of your borrowing today? Interest you earn on savings can be lower than interest you pay on a loan.
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2. Add up your borrowing

  • Review the debts you still need to pay off along with their interest rates or charges
  • If you have any existing borrowing that’s interest-free such as a 0% credit card remember you will pay interest by moving it to a loan
  • Decide which debts you want to bring together and add them up to give you your borrowing total.

Use our Loan Calculator and apply for a Personal Loan

Put your borrowing total into our Personal Loan calculator and decide how long you’d like to repay the loan over. This will give you an idea of your monthly repayments for consolidating your debts with a loan.

By changing the number of months you’ll repay over you’ll see how the monthly repayment changes for the amount you need. This can help you see what you could afford to borrow.

Loan Calculator

You need to have held a Lloyds Bank current account for at least a month, be over 18 and a UK resident. It’s easy to apply today. With a Lloyds Personal Loan you can:

  • apply for between £1,000 and £50,000
  • choose to make your monthly repayments over 1 to 7 years
  • apply online, in branch or by phone
  • get your personalised quote with no credit searches by logging into Internet Banking.

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £225.04. Total amount repayable will be £10,801.92. Representative 3.9% APR, annual interest rate (fixed) 3.83%.

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. If you qualify for a loan we'll tell you the rate that applies when you get your personalised quote. The maximum APR you could be offered is 29.9% APR.

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

Apply online

Log on to Internet Banking to get a personalised quote. It takes around one minute, and in the majority of cases we'll tell you how much you can borrow and if you're likely to be approved before you apply. This won't impact your credit scoreCloseCredit scoreYour history with credit is summarised into your credit score. Having a long history of paying your loans, bills and credit cards on time means you’re more likely to have a high credit score. Missing payments or defaulting on loans, borrowing and bills is likely to result in a lower score. When you apply for a loan or credit card, the financial institution will look at your credit score 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..

If you then apply for a loan, we could give you a decision in around five minutes.

Log on to get a quote

Apply over the phone

If you hold a Lloyds Bank Current Account, call us on 0330 123 3890.

If you have a credit card, mortgage or existing loan with us, call us on 0330 123 4715.

Lines are open 8am–10pm seven days a week.

Apply in branch

Your local branch will be happy to help you apply for a Loan. We'll usually be able to give you an answer and transfer the money into your account the same day.

Find your nearest branch

Making sure you get a fair deal

We want 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.

Download the statement of responsibilities (PDF)