MBNA started its business in 1982 in the UK as the Maryland Bank National Association. Its focus is to “make good stuff happen” for customers through credit cards and personal loans. In 2017, MBNA joined the Lloyds Banking group, and has grown more ever since.
An MBNA personal loan can help with personal expenses like vacations, weddings, and home improvements. Don’t let the cost scare you; you can calculate this with the MBNA personal loan calculator. That way, you can determine the monthly payment that best fits your budget.
Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.
Introducing MBNA Loans
Here are the features of MBNA loans that you need to be familiar with:
- Limit from £1,000 up to £25,000
- Term of 1 to 7 years
- Fixed APR of 2.8% (for loans between £7,500 to £25,000 up to 5 years)
- 10-minute application process
- No arrangement fees
- Direct-debit repayment
- Instant credit decision (in most cases)
- Access to funds within 5 working days
- Choice to extra payments on your loan with no fees
Please note, MBNA may charge two months’ interest if you fully settle your loan early. On the other hand, if you miss any payment, you’ll be paying a £25 penalty.
Furthermore, Lloyds Banking Plc is the direct lender of all MBNA Bank loans. This is because for loans, MBNA is only a registered credit broker.
For any other details you may need, please visit MBNA’s website here.
Applying for MBNA Loans
Before applying, please make sure you fit the below requirements of MBNA for their loans:
- Aged 18 years old or older
- UK residence (excluding the Channel Islands and Isle of Man)
- Earning regular income or pensions
- Not a full-time student
- No bad credit history
- No declined loan applications in the past month
When you apply, you’ll need to have some personal information on hand. These are your address history, employment details, regular income and expenses, and bank details.
MBNA personal loan calculator
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£7,500
to £25,000
You can choose how much money you want to borrow at a fixed rate, then choose over how long you want to pay it back. This will allow you to pay back your loan each month with an amount to suit your budget.
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
You are eligible if youre 21 or over and live in the UK permanently, you have a regular yearly income of £6,000+, you are able to make your repayments by Direct Debit, and you havent been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Make your plans a reality with a personal loan with fixed monthly payments, an instant credit decision, quick access to funds and no arrangement fee.
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
When it comes to putting your plans into action, its personal. And with a personalised loan just a few clicks away, getting things moving could be simpler than you think. Get your loan rate before you apply without it affecting your credit score.
BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.
Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.
