ing eligibility criteria, required documents, and the full application process:
✅ TSB Bank Personal Loan – Full Application Process
1. Loan Overview
Loan Amount: £300 to £50,000
Term: 3 months to 7 years, depending on the amount borrowed and whether you hold a TSB current account
Representative APR: From 5.9% (for loans between £7,500 and £25,000 over 1–5 years)
Type: Unsecured personal loan
Funding: Same-day transfer for existing customers (if approved before 6 PM), next working day for others
2. Eligibility Criteria
To qualify for a TSB personal loan, you must:
Be a UK resident
Be 18 years or older (21+ for online applications)
Have a minimum monthly income of £850 after tax
Be employed, self-employed, or retired with a pension
Not have any recent County Court Judgments (CCJs), credit defaults, or bankruptcies
Be up to date with any existing TSB debts
3. Required Documents
Prepare the following documents to support your application:
Proof of Identity: Passport, driving licence, or other valid government ID
Proof of Address: Recent utility bill, bank statement, or council tax bill
Proof of Income: Recent payslips, bank statements, or tax returns if self-employed
Bank Account Details: For direct debit setup and loan disbursement
4. Application Process
Existing TSB Customers
Log In: Access your TSB Online Banking account.
Use the Loan Calculator: Estimate how much you could borrow and what your repayments might be.
Get a Personalised Quote: Receive a quote without affecting your credit score.
Apply Online: Complete the application using pre-filled details for a quicker process.
Receive Funds: If approved before 6 PM, funds can be transferred the same day; otherwise, by the next working day.
New TSB Customers
Use the Loan Calculator: Estimate your borrowing amount and repayment terms.
Get a Personalised Quote: Receive a quote without impacting your credit score.
Submit Application: Apply online (if over 21), over the phone, or in person at a branch.
Provide Additional Documentation: Submit proof of identity, address, and income as required.
Receive Funds: After approval and verification, funds are typically transferred by the next working day.
5. Repayment Options & Flexibility
Early Repayment: You can repay your loan early at any time in full or part. TSB may charge up to 58 days’ interest on any full settlement.
Overpayments: Make extra payments without penalty to reduce your loan term and interest.
Repayment Holidays: Take up to two one-month breaks each year (subject to approval); interest continues to accrue during this period.
No Arrangement Fees: TSB does not charge any arrangement fees for personal loans.
6. Usage Restrictions
TSB personal loans cannot be used for:
Business purposes
Purchasing or putting down a deposit on property, timeshare, or land
Refinancing of a loan arranged through the Student Loans Company
Paying household bills or saving
Speculative ventures (e.g., share purchase or gambling)
Illegal purposes (e.g., drug-related activities or racketeering)
Frequently Asked Questions (FAQs)
1. What is the minimum and maximum loan amount I can apply for with TSB Bank?
You can borrow between £300 and £50,000 depending on your eligibility and needs.
2. Can I apply for a TSB personal loan online if I’m not an existing customer?
Yes, you can apply online if you’re 21 or older, but you may need to provide additional documents and verification.
3. How quickly will I receive the loan amount after approval?
If approved before 6 PM, existing customers can receive funds the same day. For new customers, funds usually arrive by the next working day.
4. Are there any fees for early repayment of the loan?
TSB does not charge arrangement fees, but if you repay your loan early in full, you may be charged up to 58 days’ interest.
5. What documents do I need to apply for a TSB personal loan?
You’ll need proof of identity, proof of address, proof of income, and your bank account details for repayment setup.