TSB Small Loans are a potential solution when you need to quickly cover an unexpected bill, such as a broken appliance or emergency situation. Offering fixed-rate loans between £300 and £999.99 at 39.9% APR, these loans allow repayments over a term of 3 to 12 months. The application process is designed to be straightforward, with a personalized quote and decision given within minutes. Only TSB current account holders for at least 3 months, who are UK residents over 18 (or 21 for online applications), with regular income and no recent credit issues, are eligible.

How to Apply: Step-by-Step

1. Check your eligibility: Ensure you are a TSB customer for more than three months.
2. Gather your information: Have proof of income and identification ready.
3. Choose your loan amount and repayment period online or at a branch.
4. Submit your application and receive a personalized quote.
5. If approved, funds arrive the same day into your account.

Top Advantages

These loans are excellent for handling emergencies without lengthy processes. You get clarity on the exact amounts owed upfront, and approval is typically fast.

There’s no impact on your credit score for the initial quote, giving you peace of mind before proceeding. Fixed rate means predictable payments.

Disadvantages to Consider

The 39.9% APR is higher than many larger loans, making costs significant if you stretch repayment terms.

Eligibility is restricted to TSB current account holders, limiting access if you bank elsewhere. Amounts above £1,000 are unavailable under this offer.

Final Verdict

TSB Small Loans target urgent, short-term needs, balancing a streamlined process with manageable monthly outgoings. For current customers facing unexpected bills, it’s a practical and transparent option.