If you have applied for the Barclayloan but you want to borrow some more money from the bank then it’s possible with the Barclays loan policy. You can go for an option of top up your loan and can get some extra money apart from the loan amount.
- If you’ve got a personalized price quote
- Fixed monthly payments
- Loan terms up to 5 years
If you have an online account then you can add an extra loan up to £50,000. It basically depends on your loan status and application. You can top up your loan by applying for some more money to the Barclays bank. Whether you want the additional money for your house renovation or you want to purchase a new car Barclays bank will help you in meeting your financial needs.
How Barclays top up works?
Now, you must be thinking that how Barclays top up actually works? When a customer wants to top up a loan then the bank will not add money to your previous loan. They will set up a new loan account for your extra borrowings. You will return the both loan amounts separately. For example, if you have already borrowed an amount of £3,000 and you want to top it up with £2,000 then Barclays bank will open a loan for £5,000. At first, you will return the amount of £3,000 then the remaining amount. Penalty charges are applied for the early return of your first loan whereas the second loan is free from penalty charges. Keep in mind one thing that different interest policies are designed for a second loan option and customers are required to pay more interest rates for a second loan option.
If you don’t want to top up your loan then you can apply for an additional loan. In this way, you can keep the both repayment accounts separate. If you don’t want to mix up both loan payments then additional borrowings offered by Barclays bank is the best option for you.
Why should one go for Barclayloan?
You can repay your loan quickly if you want to because it’s a customer right. On early repayments of your loan Barclays bank will charge you an interest rate of 30 days.
You can top up your Barclayloan online if:
- Your existing Barclayloan should be 3 months old
- Paid a minimum amount of £1,000 into your Barclays current account every month
- You must have a good credit history
You can use a loan amount borrowed from Barclays bank for different reasons except these:
- For any illegal purpose (gambling)
- For your business
- You can’t purchase a property
- Any purchase made by combining this loan with any others
- You can’t spend money in investments like stocks and shares
Apart from additional and top up loans many different types of loans such as personal loan, Premiere Barclayloan, professional and career development loan and business loans. In the case of any queries you can dial the Barclays contact number london and instantly resolve your problems.