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Debt consolidation loans

Bring your borrowing together into one place.

How does a debt consolidation loan work?

You could bring together all your debts into one loan and have only one payment to make each month.

Remember, taking on any new debt is a big decision; extending the term of your debt can incur more interest and cost more in the long run and sometimes an early repayment charge may apply.

Get a personalised quote with no impact on your credit score

If you have a Royal Bank of Scotland current account and you’re looking to apply for a loan in your name only, in most cases, we’ll confirm the loan amount and your rate at the start of your application. All this with no impact on your credit score.

Complete your application in minutes

It takes around 10 minutes to apply, and we’ll pre-fill parts of your application to make things easier.

Get your money quickly

You could get your money the same day if your application is unconditionally accepted before 5.45pm Mon - Fri.


Sometimes we might need to contact you for more information, so it can take a little longer. We will send you an email or a text to confirm your loan is in your account.

Representative example

The following Representative Example applies to loans of £7,500 - £19,950 only. Borrowing £10,000.00 over 5 years at Representative 3.9% APR and Interest rate 3.90% p.a. (Fixed) will cost £183.41 per month, with a total amount payable of £11,004.60

Loan amount

£1,000 - £2,950
£3,000 - £4,950
£5,000 - £7,450
£7,500 - £19,950
£20,000 - £25,000
£25,050 - £35,000
£35,050 - £50,000

Representative APR

Representative 24.9% APR
Representative 19.9% APR
Representative 7.9% APR
Representative 3.9% APR
Representative 4.9% APR
Representative 6.2% APR
Representative 6.9% APR

Other amounts are available at alternative rates. Our rates depend on your circumstances & loan amount & may differ from the Representative APR.

Can I pay off my loan early?

If you want to repay your existing loan early, you'll pay up to 58 days interest to close the old loan early (or the remaining number of days interest if there are less than 58 days left in the loan term). This is in addition to your outstanding loan amount and any outstanding interest.


For example, if you borrowed £20,000 over 5 years at 4.9% APR and repaid your loan halfway through the term, the early repayment charge would be £78.18.

Is there anything a loan can't be used for?

- Property purchase
- Deposit for property purchase
- Buying or putting down a deposit on a static caravan
- Purchase of land
- Any business purpose
- Any payment in arrears
- Any tax avoidance arrangements
- Court or solicitors fees
- Gambling
- Household bills/rent/mortgage payment
- Purchase of shares/investment funds
- Car tax

Can I take a repayment holiday on my loan?

When you apply for a loan, depending on your circumstances, we might give you the opportunity to defer your first repayment. 

  • It's only available at the start of your loan term
  • You can defer your first loan repayment for three months
  • If this option is available, details of your repayment holiday will be shown at the quote stage of your application
  • Remember, if you choose to defer your first payment, the total cost of your loan and monthly repayments will increase. This is because we charge interest during the three month period. The total length of your loan will also increase.

How your information might be used:

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

How do we use your information
We sometimes need to use your information to help us both.


Why do you share it?

We share your information so we can:

∙ protect you

∙ check your identity

∙ Make sure you have the right products for your needs

∙ prevent fraud and money laundering

∙ help us comply with laws, manage our risk and protect our business


Who do you share it with?

We share your information with:

∙ other companies in our group

∙  fraud prevention agencies, and we also record any identified or suspected fraud, which could mean we refuse to provide you with services

∙ our business partners, like the company that makes our debit and credit cards

∙  industry regulators, government departments and similar organisations, like HM Revenue and Customs, who might in turn have to share it with other countries 


We also share your information with credit reference agencies, so we can:

∙ do a credit check – this can affect your credit score (we don’t do one if you’re just opening a savings account)

∙ do an identity check – this could be done on you and anyone else who’s linked to the account, but it doesn’t affect your credit score

∙ protect you and comply with laws – we must share information about how you manage your account, like payments made in, your balance, credit limits and any missed loan payments. They may also share this with other organisations.


Credit reference and fraud prevention agencies use your information because they have to prevent fraud and money laundering, to protect you, their business and to comply with laws.

What can happen?

We’ll make decisions based on the automated checks of data we hold and receive about you.  You have rights in relation to these decisions, including a right to appeal if your application is declined. If it’s declined, we’ll usually keep your information for 5 years or longer if needed to comply with the law.

If you want more details about how we use your information or your rights, please read our full Privacy Notice.


Ready? Get started. To apply online you must:

  • be at least 18 years old and a UK resident with a Royal Bank of Scotland current account (held for at least 3 months)
  • have not been declared bankrupt in the last 6 years
  • have not completed a personal loan application with us within the last 28 days
Our Lending Commitments (PDF, 114KB) Apply for a loan Apply for a joint loan