Small loans

If you don’t have enough money in your account to make a payment under £1,000, then a small loan could be an ideal solution for you. This loan can be used to make an emergency payment, pay for an unexpected bill or for personal use.

A small loan differs to an overdraft. Small loans provide customers with a fixed amount which they borrow then must repay over a set term with regular repayments. Overdrafts, however, allow the customer to borrow money as and when they need it, with an agreed maximum limit.

With TSB’s small loan, you can borrow between £300-£999.99. If you require a larger loan than this amount, then you will need to apply for a different loan. ​In order to qualify for our small loan, you must hold a TSB current account.

There is a fixed interest rate with TSB’s small loan. There is no tiered pricing when it comes to the interest rate of our small loans. The interest rate is the same rate if you borrow between £300-£999.99.

When you apply online for a small loan, you can receive a personalised quote in minutes, as well as a decision on whether your application was successful.

If successful, you can receive the money in your account on the same day.

The personalised quote for the small loan will not affect your credit score. However, just like any loan, banks and other lenders can see if you miss a payment. If all the repayments are made on time and in full, this can improve your credit rating.

If you need a loan of over £1,000, then there are other loans available which may be more suitable for your circumstances. Small loans are used to provide borrowers with a small injection of cash so they can pay back any urgent bills or unexpected costs for emergencies.

If you require a larger loan than £1,000, for example for a car or home improvements, TSB also provide loans suitable for this.​