
Managing your loan
Read answers to frequently asked questions - including how to check your balance or how to pay off your loan early.
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You could apply to borrow more if you still meet our lending criteria and have an existing MBNA loan with over 3 months of term left.
If you’d like to borrow more, you get two options to select from.
Option 1 – Replace your current loan with us for a new loan
You can combine an existing loan and new borrowing into one manageable loan.
How combining the loan works:
- Request a loan amount from £1,000 up to a maximum of £25,000.
- Select a repayment term between one and seven years.
- We’ll close the existing loan and move any outstanding balance to the new loan.
- We’ll set up a direct debit for the new monthly payment.
- You’ll have a new interest rate, which might be more or less than the interest rate on your existing loan.
Option 2 – Apply for another loan
You can borrow more by taking out a completely new loan.
How it works:
- Request a new loan from £1,000 up to a maximum of £25,000.
- Select a repayment term between one and seven years.
- The new loan will run alongside your current MBNA loan.
- Each loan will have its own interest rate and a different number of years to pay it back over.
Things to consider
- Deciding how much to borrow - will you be able to afford to pay the loan back if your circumstances change?
- Your new loan could be charged at a higher interest rate over the new loan term you’ve selected. This means you could pay more interest overall.
- Refinancing your existing loan into a combined loan will result in the outstanding balance moved into a new larger loan, at new rates. Early settlement charges won’t be applied when we close your existing loan to open the new one if this option selected.
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You can make extra payments to your MBNA loan. This will reduce the interest you’ll pay and may reduce your loan term. Keep in mind that you'll need to keep making your monthly repayments, even if you make extra payments.
To make an extra payment, call us. Payments can be made over the phone from any UK current account or building society account.
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You can pay off your loan in full at any time.
Keep in mind that if you pay off your loan early, we will charge you up to 58 days’ interest. This charge is an early settlement adjustment.
Call us to discuss early settlement.
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You can view your account details through the MBNA Mobile App or Online Services.
See Online Services for more details or to register.
You’ll need to call us to find out how much you’ll need, to pay off your loan early.
You can also find lots of information about your account in your personal loan terms and conditions.
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If you’re an existing MBNA loan customer, the quickest and easiest way to change your contact details is through the MBNA Mobile App.
Moving abroad
You must be a UK resident to hold an MBNA personal loan (except for the Channel Islands and the Isle of Man).
If you’re an existing loan customer and decide to move outside of the UK in the future, you must tell us. It may affect your ability to hold the account and the services you can use. We’ll contact you if we have to close your loan account.
MBNA is part of Lloyds Banking Group. If you have products with other companies within the Group, moving outside the UK may also affect whether you can continue to hold those.