Loan repayment holidays

When you find that things aren't going to plan, then a bit of financial flexibility can sometimes help.

Features and benefits

  • Once you've made the first monthly repaymentWith a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment. With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan. on your loan, you can apply for up to two one-month repayment holidays every year of your loan.

Keep in mind

  • Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you'll pay more interest overall and your original term will be extended.
  • Take a one-month repayment holiday  

    • A repayment holiday gives you a one-month break from your loan repayments.
    • You’ll have the option to apply for up to two non-consecutive repayment holidays in a rolling 12-month period (subject to approval).
    • You won’t need to make your usual repayment during your repayment holiday, but we’ll still charge daily interest on your loan balance. This means that you’ll pay more overall, and your loan’s end date will be extended by one month each time.
    • We’ll tell you what the additional interest will be before we confirm and start your repayment holiday. You can also use the calculator to get an idea of how much extra your interest charges are likely to be before you apply.

     

    If you would like to take a repayment holiday, you’ll need to let us know at least five working days before your next loan repayment is due.

    You can ask for a one-month payment holiday at any time, providing you are up-to-date with your loan repayments and have 30 days or more remaining on your loan term. 

    You can request a repayment holiday by:

  • Repayment holidays aren’t intended to help solve money troubles, so if you are struggling to make your monthly repayments, please call us and we'll talk through options with you. See more information on our Money worries page.

    A repayment holiday will extend the length of your loan. We will continue to charge interest on your outstanding loan balance, so you will pay more interest overall. We will advise you of the additional interest that will apply when you call.

  • Online

    You can apply for a repayment holiday by logging on to Internet Banking and selecting your loan from the account overview page.

    Log on to apply

    Taking a repayment holiday will extend the length of your loan and we'll continue to charge you interest on your outstanding loan balance. We'll advise you of the additional interest that will apply when you contact us.

    Please call us at least a week before your next loan repayment is due for this to be applied to your next payment.

     

    In branch

    Pop into your local branch and our staff will be happy to help.

    Find your nearest branch

Apply for a repayment holiday

Log on to Internet Banking and select your loan from the account overview page

Log on

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As living costs rise, keeping on top of your money might be worrying. We can help you manage your payments and provide some useful tips and tools.

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Existing customers

Already have a loan with us? We have a range of flexible ways to help you.

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Whether you’re planning a large purchase, or simply want to get your finances in order, a personal loan could help bring your plans to life.

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Important legal information

How much we lend and the rate available are subject to our assessment of your circumstances. You must be 18 years of age or over and a UK resident. You must have had a Lloyds Bank Current Account for more than one month.