Lloyds TSB Graduate Loan Reviews, Loan Calculator and Complaints

(4 customer reviews)

Average Customer Rating

Is this you?

Acceptance Criteria

You must have a Lloyds Graduate Account with Direct Debit facilities
You must have a good credit history

You must be between 18 and 75 years of age at the expiry date of your loan
You must be in full-time, part-time or self-employment earning at least £300 per month

You must have been living in the UK for 3 years or longer

Loan Details

Representative APR

9.9%

Loan Amount

£1,000 - £10,000

Repayment Period

Minimum Term 1 year

Loans £1,000 - £10,000 up to 5 years

Repayment Method

Direct Debit

Speed To Payout

Existing customers - 30 minutes

Arrangement Fee

No Fee

Payment Holidays

Option to make no payments for the first 3 months

Payout Method

Transferred into your bank account

Income Protection Available

No

Average Customer Review

(4 customer reviews)

Loanfinder Ranking

62nd for APR of 423 loans in the UK (See Lender League Table By APR)
39th for Customer Satisfaction (See Customer Reviews)

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About Lloyds TSB Graduate Loan

With a Lloyds TSB Graduate Loan, you can borrow from £1,000 up to £10,000, which you can pay back over 5 years. In order to apply you do have to have completed your university course and have a Lloyds TSB graduate account as this product is available exclusively to Lloyds customers.

You will need to go into your local branch to apply for this loan or you can begin the application over the phone and complete the final stages in branch. Lloyds TSB aim to get you a final decision on the same day that you apply. They will discuss your current financial situation with you and will work out how much you can actually take out for a loan - bear in mind they may not offer you as much as you need. They will credit check you and fully assess your application. Once it has all been approved, you will need to sign a loan agreement and present any documents they may ask for. The money can be in your account on the same day if all of this is done.

A great option if you are already with Lloyds. However, customer reviews on the internet have suggested that staff can hard sell products like loan insurance. Make sure you don't get talked into taking out offers you don't need. If you are interested in getting insurance, go somewhere else because the banks charge a lot more than some other places. Another selling point, is that Lloyds give you the option to take up to 2 payment holidays per year, which is fantastic for recent graduates as it gives you a bit of freedom on repayments - remember that interest still applies in these 2 months.