TSB borrowers can take out short-term loans in the bank later on, as it plans to present an alternative to payday lenders, loan sharks, and overdrafts.
The bank has revealed it's looking to launch a set of new shorter-term unsecured loans to help individuals with income problems.
It's yet to divulge what rates and lengths individuals will have the ability to borrow for or just when the new deals will launch, but it says these is going to be targeted at working families and people with varying incomes.
The bank says it wants to fill the space where borrowers feel other product other alternative but to take out pricier types of credit.
It currently offers unsecured loans of between lb7,500 to lb25,000 for those borrowing between one and 5 years in a competitive rate of 2.9 percent, that was this week reduced from 3.2 per cent.
So it's likely it's new range will be on loans of less than a year that are for less than lb7,500.
When you are looking at the current best buys under lb7,500, Cahoot and Santander provide the cheapest loan at 13.5 per cent rate on borrowing of lb1,000 to lb1,999.
Meanwhile, Ikano charges 13.4 per cent on lb2,000 to lb2,999, and Admiral sets rates at 8.2 percent for lb3,000 to lb4,999.
Admiral can also be cheapest for loans of between lb5,000 and lb7,499, charging 3.4 percent, based on MoneySavingExpert.com.
Of course, the rate you get varies depending on how much you borrow and on your credit report, and only 51 percent of applicants need to be offered the advertised rate.
So use an eligibility checking tool, such as MoneySavingExpert.com's, to check on your likelihood of being accepted first without them hitting your credit score.
In comparison, short-term lender Amigo charges 49.9 per cent on loans of between lb1,000 and lb10,000 over 12 and 60 months, while payday lenders happen to be known to charge a lot more than 1,000 percent.
If you simply need a small amount of cash in the short-term, you might be better off taking out a an interest-free credit card so long as you're sure you can repay the debt prior to the 0 percent period ends.
Of course, however , often unsecured loans and credit cards are only able to be taken out by individuals with decent credit scores, leaving others embracing pricier alternatives.
A TSB spokesperson said: “Customers have told us they need more help managing short-term cash flow problems, plus they desire a bank that gives better options when borrowing for shorter periods.
"That's why we've recently reduced our headline rate on unsecured personal loans to two.9 per cent APR, and why we're offering month-long payment holidays for purchasers with personal loans.
"We're currently while developing temporary lending products to better serve our customer's needs.”
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Meanwhile, banks have been warned they have to help customers with large overdraft debts.
It comes as banks up rates from April 6 to up to 49.9 percent.