Be 18 or over with a TSB current account to open in branch, or 21 without a current account to open online
Personal Loans FAQs
If you have a question about personal loans with TSB, you’ll find the answers here.
Try our loan calculator
Our lowest rate is just 6.4% APR representative for loans between £7,500 and £25,000 for 1 - 5 years.
The representative APR is the Annual Percentage Rate of charge. You can use it to compare the overall cost of credit between different lenders.
Information about loans
With a TSB personal loan, you could borrow a fixed amount and pay it back in monthly repayments over an agreed term.
If you have a TSB current account for more than 3 months, you can borrow from £300 to £50,000. Depending on how much you borrow, you can choose a loan term from 3 months to 7 years.
If you don’t have a TSB current account, you can borrow from £1,000 to £25,000 over 1 to 5 years.
Your repayments are taken monthly by Direct Debit. You can also make extra payments towards your loan and apply for up to two repayment holidays each year, subject to approval.*
You can also get a personalised quote without affecting your credit score.
Our responsibility to you
We'll never encourage you to borrow more than you can afford. We have lots of advice and guidance to help you get it right.
*Taking a repayment holiday means you may pay more interest over the term of your loan.
We don’t charge an arrangement fee for TSB personal loans.
If you repay your loan in full early, we may charge you up to 58 days’ interest.
The monthly repayment cost of a loan will depend upon the amount borrowed, the term of the loan and the interest rate.
Use our personal loan calculator to see your estimated monthly repayment and how much you could repay overall. You can also get a personalised quote to see the rate we could offer you with no obligation to commit or impact to your credit score.
You can use a TSB personal loan for:
- Making a large purchase, like a car or electrical goods
- Home furnishings or improvements
- Travelling or going on holiday
- Consolidating your debts
- Other personal uses
You can't use a personal loan for:
- Investing or speculative ventures, such as buying cryptocurrency, shares, or gambling*
- Illegal purposes, e.g. drug related activities or racketeering
- Business purposes
- Refinancing of a loan arranged through the Student Loans Company
- Purchasing or putting down a deposit on a property, timeshare or land
- Retaining property rights (e.g. to repay an existing mortgage in full or to pay ground rent or service charges)
- Savings or paying household bills
An unsecured loan lets you borrow money without securing the loan against an asset, such as your home or car.
TSB personal loans are unsecured. You agree how much to borrow and how long to repay it over. You then make monthly repayments until the loan is repaid.
Loan applications
To apply for a loan, you'll need to meet our eligibility criteria. You must:
Already a TSB customer?
The easiest way to apply is in the TSB app:
- Log in and select ‘Loans’.
- Select ‘Apply now’.
- Follow the steps to get a quote and see your rate without affecting your credit score.
You can also apply online, in branch or by calling us on 0345 835 3861.
New to TSB?
- New customers aged 21 or over can apply for a loan online. Alternatively, you can apply over the phone (0345 835 3861) or in branch.
- New customers can also get a quote and see rates before applying.
For information about your loan application, please call us on 0345 835 3861. This number is available from 8am - 6pm Monday to Fridays, from 9am - 2pm on Saturdays.
If we’ve referred your application, it means we need some more information from you before we can make a decision.
If you’ve held a TSB current account for more than 3 months, please contact us on 0345 835 3861. This number is open Monday to Friday, 8am to 6pm. Calls may be recorded.
How to prove your ID and bank details:
- We’ll send instructions by email.
- When you’ve completed the process, we’ll contact you within 3 working days.
- To get started, fill in this form.
We use Docusign for this kind of request. Docusign will pass the information you provide to us in a secure manner and won’t process it in any other way. Information on how we use your data can be found in our Data Privacy Notice.
Getting a personalised quote won’t affect your credit score.
If you go on to make a full loan application, we’ll carry out a credit search to help us make a lending decision. This will be recorded on your credit file and may affect your credit score.
If you meet our eligibility criteria outlined above, you can apply for a TSB personal loan.
We’ll carry out a credit search when you apply and use this, along with other information, to make our lending decision. You must not have any recent County Court Judgements (CCJs), credit defaults or bankruptcies.
We can’t lend to anyone who is currently unemployed. Our Personal Loans are available to customers who are currently employed or retired with a pension.
For existing TSB current account holders, the funds will be transferred to your bank account immediately between 9am and 6pm, or before 9am the following day if you’ve applied outside of these times.
For all other customers, we need to do a few more checks. The money is usually in your chosen bank account by 7pm the following working day (for applications completed before 6pm). Excludes weekends.
Managing your loan
You can choose how long you want your repayment term to be when you apply for a loan. Our repayment terms range from 3 months to 7 years, depending on the amount you’re looking to borrow and whether you hold a TSB current account. Our Graduate Loans have repayment terms between 1 to 5 years.
If you have a TSB current account, the quickest and easiest way to make an early repayment on your loan is using the TSB app. Simply tap into your loan, select ‘Pay off Loan’ and follow the instructions on screen.
Don’t have a TSB current account? The best way to make an early repayment on your loan is to call us on 0800 111 4166. Alternatively, you can visit us in branch and we’ll be happy to help.
It’s important to know:
If you’re paying off your loan in full, we’ll send you a copy of your Early Settlement Quote by post. This quote shows the amount needed to close your loan, which may differ from your outstanding balance. This is because we may charge up to 58 days' interest on any full settlement
Any additional payments will be used to partially settle your loan. This means your normal monthly payments will continue, but the number of repayments and the amount of your final repayment may change.
If you close your loan early and your monthly loan payment is due within 5 working days, the payment might still be taken. If this happens, we’ll return the funds to you within 5 working days
You can find details of your Loan on Internet Banking, in a branch or by calling us on 0800 111 4166 Lines are open Monday to Friday, 8am to 6pm.
Yes, you can change your loan repayment date with TSB Bank by contacting us on 0800 111 4166 visiting us in branch.
After taking out a loan with us, you have 14 days to withdraw from the agreement. This starts the day after you sign your loan agreement.
If you withdraw, you'll need to repay the amount we paid into your account, plus any daily interest we charge. You must do this within 30 calendar days of telling us you want to withdraw. You can find the daily interest amount in your loan agreement.
You can withdraw by calling us on 0800 111 4166 (Lines are open Monday to Friday, 8am to 6pm) or by sending any notice to TSB Bank plc, PO Box 453, Mitcheldean, GL14 9LR.
If you want to talk to us about withdrawing from your loan more than 14 days after you've signed your loan agreement, please call us on 0800 111 4166 or visit your local branch to find out the details.
If you’re worried about making your loan repayments, please get in touch with us as soon as you can. We’ll talk through your situation and the support that may be available.
Missing repayments could affect your credit score and may make it harder to borrow in the future. If you continue to miss repayments, we may take further steps to recover the money you owe.
Visit our Money Worries hub for more help and support.
There may be lots of different reasons you might need to bank with us differently, either in the short term, or on a continuing basis. It could be because of your physical or mental wellbeing, or because of a life event you’ve experienced. Whatever the reason, we are committed to tailoring our support to your personal needs.
If you choose to tell us about your individual support needs, we will take the time to understand your circumstances and work with you to make sure you have the support you need when banking with TSB.
We have several ways to provide you with extra support. Find out more about how we support you
