Have you ever applied for a loan during a time of need to find out that you didn’t have enough score to fit in most institutions? Sometimes, accessing a loan is necessary when an investment must be made, and there is no liquidity available at the time. But you won’t usually find a quick response from most financial institutions, and most people don’t have a credit cushion available (do you?)
On the other hand, getting into debt is not necessarily bad, as long as you handle all the necessary it correctly and pay on time.
In this regard, Barclay is a financial institution that works with only savings and loans and may work for you at desperate times.
What is Barclays?
It is a savings and loan entity that currently offers more than 45 million users the possibility of saving with attractive interests without charging the high fees that most banking services carry.
Furthermore, we talk about a multinational company with headquarters in London that is limited to online banking and offers excellent financial returns on savings offers and deposit certificates.
Barclays does not handle current accounts, as its main dedication is to offer benefits for savers and lend to its clients with desirable interests.
This way, the fact that Barclay’s does not manage physical branches allows them to have maintenance fees completely free without a minimum balance establishment. Even so, if you want to make some changes, administrative costs are meager.
For example, for an overdraft, any traditional bank has a cost of $ 30.00. At Barclays, an overdraft only costs $5.00. This is one of many comparisons that can be made with traditional banking.
How about their lender services?
If we talk about Barclays as a lender, its payment options do not include commissions and its interests, depending on the amount requested, are extremely accessible. All you have to do is go to this bank’s website, fill in the form, and set up the payment plan, and you can expect to receive the money once approved.
What does Barclays offer?
It mainly offers up to $ 35,000.00 with interest rates at 4.99% and financing for 48 or 60 months. If so far, you find it attractive, let us tell you that they have another deal-closer feature: commission-free payments.
Their website offers the experience of checking your credit status online to verify two things:
- The amount of loan you can access
- The interest rates that are best for you
Once the rate check is verified, you can immediately select the term you want to choose and apply for the resources you need to power your life and dreams.
As long as you have a good level and credit status, it will not be a problem to access the resources you need. Besides, the fees are much lower than in other entities, allowing you to take better care of your money.
On the other hand, when it comes to savings, not having physical branches means that you do not have to pay for account maintenance fees, and the interest on your savings remains intact as earnings. This is a good thing.
Is Barclays a reliable company?
Unfortunately, although many of the business strategies favor Barclays’ image, some unsatisfied customers’ evaluations represent almost 50%. The other 50% is shared between people who are very grateful to the company’s system and others who evaluated the management and benefits received from this entity as average.
Advantages of Barclays
- It offers extremely low-interest rates.
- Access to loans is effortless and fast.
- It does not have any commission-related expenses.
- Your savings account offers great benefits that allow you to multiply your money because it does not charge maintenance fees.
Disadvantages of Barclays
- It has no physical headquarters or ATMs in the United States.
- Does not have a checking account
- It does not allow cash withdrawals at ATMs.
While not being a scam per se, Barclays does have a somewhat shady reputation. However, this can also be part of customer’s low access to ensured information –Due to the lack of a physical institution.
Even so, this is an option for those who wish to manage their resources without having to pay the banks so many absurd and unnecessary commissions. On the other hand, the loans are so accessible that more than 45 million people have benefited from the financial tools it provides.
With no commissions and low-interest offers, it is an excellent option to facilitate achieving the goals and dreams that its users establish at a financial level.Barclays