Although barclaycard is best known for the credit card of the same name, the company also offers various types of loans. This includes an express loan as well as a classic installment loan, but also more specialized versions, such as a barclaycard car loan. An installment loan from barclaycard is available from as little as 1.89 percent APR, offering a loan between 1.000 and 35.000 euro allows.
- Loan amounts from 1.000 up to 35.000 euro net
- Terms are between 12 and 84 months
- Unscheduled repayments possible free of charge
Interest rate of barclaycard: from 1.89 percent upwards
Depending on which barclaycard loan you choose, the effective annual interest rates are different. The interest rate also depends on your creditworthiness and general facts such as the borrowing rate, term, loan amount and other costs. The three main loans of the bank are divided into a classic installment loan, a particularly fast express loan and an installment loan for self-employed persons.
|Barclaycard installment loan||barclaycard express loan||barclaycard installment loan for self-employed persons|
|effective annual interest rate||1,89 to 4,99 %||fixed 3.79||1.89 to 8.99 %|
|fixed borrowing rate||from 1.87||from 3.73||from 1.87|
|net loan amount||1.000 to 35.000 €||1.000 up to 35.000 €||1.000 to 35.000 €|
|term||12 to 84 months||12 to 84 months||12 to 84 months|
|application||simple application||shortened application||simple application|
|video-ident for legitimation||yes||yes||yes|
|unscheduled repayments||free||free of charge||free|
|merge loans free of charge||yes||no||no|
|disbursement partly on the same day||no||yes||no|
Very special: self-employed people generally do not have an easy time with a loan. With barclaycard, however, even just a recent income tax receipt is required – that also makes it easier for founders, although the interest rate might be higher for them.
Barclaycard also offers other types of loans. These include:
- Car loan: perfect alternative to dealer financing, so customers do not have to make a high down payment or a final installment. Here, too, the effective annual interest rate starts at a favorable 1.89 percent and the net loan amount is 1.000 to 35.000 euros. Particularly advantageous is also the fact that the vehicle always remains in the possession of the borrower, since the vehicle license is not transferred to the bank.
- Fix credit: this type of credit is only offered to existing barclaycard customers. This is a loan with individual conditions, which is pre-approved by barclaycard. To apply for this loan, it is only necessary to enter a promotional code, which was communicated in a cover letter from barclaycard.
For existing customers, it is also possible to increase existing loans without complications and without proof of income. This application is also possible by phone or conveniently online, but requires an unchanged good credit rating.
The following representative credit example was provided by barclaycard in accordance with § 6a pangv and illustrates a possible offer for a classic installment loan.
|Net loan amount||10.000 euros|
|contract period||60 months|
|fixed debit interest rate||4.07 percent|
|effective annual interest rate||4.15 percent|
|amount of the monthly installment||184.50 euros|
|total amount of the loan||11.069,69 euro|
Save money with the loans of barclaycard
The key data
- Effective annual interest rate from 1.89 percent to 4.99 percent for installment loans
- Loan amounts from 1.000 up to 35.000 euros net
- Terms are between 12 and 84 months
- Uses vary depending on the type of loan, but are very flexible
- Extremely fast instant decision
- Unscheduled repayments possible free of charge
- Express loan with possible payment on the same day
Depending on your specific credit decision, there are many ways to save money with a barclaycard loan. Since the interest rate of the classic installment loan already starts at 1.87 percent, it is possible to reschedule other loans or debits at favorable rates. For this barclaycard also offers the possibility to combine loans free of charge. For this, only the corresponding box must be checked in the application so that existing installment loans at other banks are merged with the barclaycard loan.
Small tip: barclaycard offers a security package for its own loans, which can be selected in addition to the loan. Of course, the package is optional, but it can be used to better cover unforeseen risks. With an installment loan, customers can, for example, secure payment defaults that occur through no fault of their own in the event of incapacity for work, unemployment and death. In the event of unemployment, barclaycard also provides active support for a return to working life.
Also, if it must go fast, barclaycard has the right loan ready, although the interest here is at 3.79 percent. Nevertheless, it is a very favorable loan in comparison, which is sometimes even paid out on the same day. For example, if you have a 10.000-euro loan needed – and as quickly as possible – can set the term to 60 months and receives at 3.79% APR and 3.73% bound debit interest a monthly rate of 183 euros.
Requirements for a barclaycard loan
In order to not only submit a barclaycard loan, but also to get it approved, a total of four requirements must be met.
- Age: the borrower must have reached the age of 18. Have reached the age of 18.
- Income: the monthly installments are set in relation to income and must fit the financial situation. However, barclaycard offers alternatives, should the rate be too high for one's own situation. For employees, it is also necessary for a loan that they are employed for at least one month with their current employer. With other credit institutions, this requirement is usually six months.
- Residence: the permanent residence or. The borrower's main place of residence must be in germany for the loan to be granted successfully. The applicant must also have a german bank account and also prove.
- Creditworthiness: the issue of creditworthiness plays a major role in a loan, as it does with barclaycard. The creditworthiness is checked with the help of the external scoring of schufa. Generally, barclaycard checks by means of two different scoring – an internal scoring to match information and experience. In addition, an external scoring, for example, to request data from schufa.
Barclaycard – calculate credit online
The calculation of the barclaycard loan is done online quickly and easily. The company wants to know if you are already a barclaycard customer and in which employment group you work – this way barclaycard can submit an ideally matched offer. Then you choose
And optionally opt for a security package of your choice. Depending on your own information, a personal offer will be made, which, however, is still non-binding until the final signature on your part.
Credit decision possible in a few minutes
The credit decision works extremely fast with barclaycard, if you decide to apply online. If you apply by mail, it takes a few days; online, on the other hand, you get the decision immediately.
The prerequisite for this is, however, that the signed credit application and all necessary documents are available. These include for example
- Proof of income
- Proof of other income (for example, child benefit, payments from the state, etc.).)
- Documents about rental costs
Although barclaycard also immediately carries out a credit inquiry with credit agencies (for example, with schufa) when an online application is made, the credit rating is not influenced by schufa in the creditworthiness check. For this reason, the documents mentioned are important and must be complete so that an immediate decision can be made.
Our barclaycard experience shows that with available documents and positive assessment after a few minutes a decision is available and the money is not infrequently already after a few days on the account – even without express credit.
Conclusion about the barclaycard loan
The barclaycard holds numerous credits for different requirements, situations and also occupational groups ready. Especially the loan for self-employed is very lucrative, because the interest rate is fixed and moderate and already an income tax certificate is sufficient. Also the classical installment credit lures with favorable interest and above all a large flexibility, which appreciate numerous customers. Not without reason, as our own barclaycard experiences also show.