With a low rate of 2.8% APR Representative for loans between £7,500 and £25,000 over 1-5 years, an MBNA loan could be the simple way to improve your home, consolidate other borrowing or pay for a bigger expense.
Put your plans into action with an MBNA personal loan
Personal loans can make it simple to borrow for those bigger plans or expenses that come up.
You can choose how much money you want to borrow at a fixed rate, then choose over how long you want to pay it back. This will allow you to pay back your loan each month with an amount to suit your budget.
The decision to lend and the rate you’re offered will depend on your personal situation. Loans are available to UK residents aged 18 or over.
- A low rate of 2.8% APR representative for loans between £7,500 and £25,000, over 1 to 5 years.
- Applying online is quick, easy and secure - only taking 10 minutes.
- You'll get an instant decision online.
- If you’re approved, you should have the money in your account within 24 hours. In some cases it may take a bit longer to have the money in your account - but no more than 5 working days.
- Choose to borrow between £1,000 and £25,000 and repay over 1 to 7 years.
- Fixed monthly repayments to suit your budget.
- Take up to two repayment holidays a year, subject to approval.
- You can make extra payments with no extra charge.
- You can pay off your loan early. If you do, you will be charged up to 58 days' interest.
You could borrow £10,000 over 48 months with 48 monthly repayments of £220.30. Total amount repayable will be £10,574.40. Representative 2.8% APR, annual interest rate (fixed) 2.76%.
The 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 you could be offered is 29.9% APR.
The representative APR is the rate that at least 51% of people are expected to receive when taking out a loan within the stated amount and term range.
Our rates at a glance
*For loans over 1 to 5 years.
MBNA personal loans are provided exclusively by Lloyds Bank plc. MBNA Limited act as a credit broker and not the lender.
Get an idea of what your monthly payments and APR could be using our handy loan calculator.
You can apply for a loan if:
- You’re aged 18 or over.
- You’re a UK resident (excluding the Channel Islands and Isle of Man).
- You’re not in full-time education.
- You’re in paid employment or have a regular income.
- You’ve not been declined for credit in the last month.
- You don’t have a history of bad credit.
- You are not applying for any of these reasons.Loans will not be provided for speculative purchases (gambling, investments and share purchases), any illegal purposes, business related purposes, purchase/lease of land or property, either full or part purchase (including deposit), timeshares/holiday clubs
Making sure you get a fair deal
We want you to find a product that's right for your circumstances. This is why MBNA 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 (PDF), which details what's expected of MBNA (part of Lloyds Banking Group) and you the borrower.