The table below will provide the information you need about Bank of Scotland personal loan options. The Bank of Scotland offers personal loans for existing customers, providing a convenient way to borrow money that can be used for buying a car, home improvement, debt consolidation, or for joint loans.
Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.
How much will a Bank of Scotland loan cost you? Use the Bank of Scotland personal loan calculator below to see your estimated monthly repayments based on the amount you have in mind and the terms you prefer to repay your loans.
Bank of Scotland personal loans review
The Bank of Scotland offers unsecured loans that are exclusive to their customers. They offer fixed interest rates and do not require collateral for their loan, so you can spend and manage your money your way.
Bank of Scotland loan features
Thinking of applying for a loan from the Bank of Scotland? Here are the key features and benefits to expect:
- Loan amount and terms. Customers can borrow £1,000 to £35,000, payable in1 to 7 years.
- Get approved online. Know instantly how much you can borrow hassle-free
- Easy loan management. Loans can be managed via the Bank of Scotland website and mobile app.
- Flexible payments. You can make additional payments on top of your fixed monthly repayments, for free.
- Repayment break. Borrowers can apply for 2 repayment holidays per year (subject to approval, interests are applied & will extend the terms)
- Zero arrangement fee. You don’t have to pay any additional fees when applying for a personal loan.
How to apply for a Bank of Scotland personal loan?
Check that you’re eligible:
To qualify, you must:
- Have a Bank of Scotland current account (not Easycash) held for 1 month or more
- Be at least 18 years of age with a permanent UK address (excluding the Channel Islands and the Isle of Man)
- Be in paid employment or have regular income
- Have a good credit history with no record of arrears, CCJs, bankruptcy, or default and have not been declined for credit in the last month.
What you’ll need:
- Besides personal and contact information like phone number and email address, you should also prepare the following when applying:
- Bank of Scotland account details
- Valid IDs
- Supplementary documents about your employment, income and expenses.
As the Bank of Scotland requires you to be an existing customer before qualifying for a loan, you might not need to submit a lot of documents. However, if you are yet to apply for a current account, you may need to prepare other documents. This may include valid IDs and verifications, details of your addresses as well as details of your income and expenditures.
Bank of Scotland personal loan calculator
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£7,500
to £24,999
Personal Loan rate of 3.9% APR representative on loans from £7,500 to £35,000 over 1 to 5 years
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
You are eligible if youre 21 or over and live in the UK permanently, you have a regular yearly income of £6,000+, you are able to make your repayments by Direct Debit, and you havent been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Make your plans a reality with a personal loan with fixed monthly payments, an instant credit decision, quick access to funds and no arrangement fee.
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
When it comes to putting your plans into action, its personal. And with a personalised loan just a few clicks away, getting things moving could be simpler than you think. Get your loan rate before you apply without it affecting your credit score.
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Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.
