Pre-Thanksgiving week has been rich on interesting updates across sectors, some of which represent a significant push in adopting new technology, embracing startup partnerships, and expansions into new niches and markets.
Seeking bigger US presence, Barclays joins crowded online lending market
As part of a broader effort to build out its US consumer business, London-based Barclays is now offering unsecured personal loans online, targeting prime and super-prime borrowers. It has been testing its online lending platform with select US customers since late last year and plans to roll it out in full force in 2018.
Barclays’ personal loans typically range between $5,000 and $35,000 and can be repaid in three, four or five years. The interest rates range from 4.99% to 18.99% and the loans carry no origination fees or prepayment penalties.
The bank has made roughly 15,000 personal loans to date. The consumers Barclays is targeting are interested in using the loans ...
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