I love computer games and reading, and Ciao is a real cool idea
thanks to everyone whoe read and co...
I love computer games and reading, and Ciao is a real cool idea
thanks to everyone whoe read and comment on my ops. i try to leave a meesage of thanks to everyone but if i miss anyone, its much appreciated.
Member since:17.07.2002
Reviews:10
For anyone who has the on line banking facility with Barclays getting a loan is easy.
Once you are logged in clicking on the Barclayloan link will show you your pre-approved loan limit and getting a loan up to this amount is pretty easy. You personal limit is calculated (according to website) by the ay you manage you money in you account.
You can specify either the amount you want to borrow (within the limit) or the monthly repayment you want to make.
If you specify the loan amount you will be shown a list of monthly instalments to choose from which will depend on the loan period. You will also be shown the applicable APR for each available option.
If you choose to specify a monthly repayment amount, you will be given options of different loan amounts and repayment periods to match your preferred monthly repayments. As before the APR will also be shown. All you have to do is select the option that best fits your needs.
Once you have completed your selections and confirmed the details on the website you will be sent a letter within the next few days confirming your details and with a copy of the loan agreement which will have to be signed and returned to the bank. You can specify the day you want the money deposited into your current account. if you want to change your mind about the loan it is still not too late you are not bound by the bank till you send your signed agreement. Informing the bank that you wish to cancel the application should be sufficient.
These laons can be paid off whenever you want before the time period is up without incurring any additional charges.
This is a pretty easy procedure than sitting in queues and talking to manage who try to sell you things you don’t want. However the main disadvantage with Barclays is that they charge a high interest rate on the loan and this usually offsets any advantages. My advice if you want an easy to apply loan is to apply for an egg loan which has a similar procedure and charges a much lower interest rate.
This facility is also available only to those who already have a Barlcays current account and are already registered to use on-line banking. For cutomers of other banks this would be a real hassle and sticking to your own bank would be best.
Following a members comment i add the a comparison Barclays charges on avarage around 14% APR EGG provideds loans for 9.9% APR (around 7.5% for eggcard holder for loans above £10,000)
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I have several bank accounts with different banks, I like the online options and barclays is no different from my existing bank, but thanks for the info di
Morgenhund 15.08.2002 12:45
It would have been useful to have given concrete examples of the APRs of the loans available against their competitors. Mike
very helpful by (50%):
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