Lloyds TSB Personal Loan

Features of the Lloyds TSB Personal Loan

Personal requirements

• Minimum age: 18
• No minimum income required

Deferments and breaks

• OPTIONAL: 3 month deferred start available.However, interest is charged in the period between the start of the loan and the first payment.
  
  
• A minimum of six monthly payments must have been made, then there is the flexibility to request a repayment holiday of one month break from the loan repayments. Terms and Conditions apply.
  
• Additional to payment breaks, Lloyds let you choose the date you pay, so you can take a loan out on 1st of Jan and ask for your first payments to come out on the 6th or whatever of each month. Allow five working days to set up the DD. If the date you have chosen is on the 6th then the first payment will be taken in the same month (6 days after you received your funds). Lloyds also allow borrowers to make overpayments on top of the standard monthly repayments. These flexible options are entirely optional and available via all channels.
  

Other features

• Debt consolidation is available.
  
• Joint applications are available.
  
• QuickSign your agreement online and you can get your loan instantly. The funds will be transferred to your bank account immediately between the hours of 9:00am and 8:30pm, or before 9am the following day outside these times. Once you have opened your loan using QuickSign, you'll be able to see it on the Account Overview screen the next time you log on to Internet Banking. A paperless Direct Debit will be set up for your monthly payments shown above and you will not need to sign and return any paper documents. If you complete your application by post, Lloyds'll send you a loan agreement to sign and return which can take a couple of days, but typically Lloyds would expect to be able to deposit your loan into your account within 7 working days.