Make life simpler by organising your finances
Representative 3.4% APR
How a personal loan can help with debt
A debt consolidation loan could be used to pay off your existing credit cards, store cards and other personal loans.
You could consolidate all your debt into the one loan and only have one payment to make each month.
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.
To apply, you must be 18+ and a UK resident with either a Royal Bank of Scotland current account (held for 3+ months), credit card or mortgage (held for 6+ months). Credit card and mortgage customers must apply online or by phone.
Tips to keep your debt in check
Make a list
Use our guide
Change your payment plan
Check if you'll be approved
Start your application
Get a decision
Find out if you're likely to be approved
Don't worry, there's no impact on your credit rating.
If you meet our eligibility criteria, we'll show you how much you may be able to borrow, your personalised interest rate and monthly payments.
If you're approaching retirement, please call us or visit a branch rather than using this tool.
If you use Digital Banking, apply and have your loan unconditionally accepted before 5.55pm Mon - Thurs, the funds will be paid into your account the next working day. Sometimes we'll need to contact you for more information so it takes a little longer.
If your application has been unconditionally accepted, you'll receive written confirmation of your loan account details in the next few days. We will text you within the next two working days when the money is available in your chosen account.
If we require more information from you to process your application, we'll be in touch within 5 working days detailing your next steps, which can be completed using the options below. Your loan funds will normally be available within 48 hours of us receiving your completed application, provided you meet all of our credit requirements.
If you've opted in to paperless in your application, you may receive an e-mail or text message inviting you to complete your application via DigiDocs (our secure online portal). Follow the instructions provided in the invite.
If you have received a pack in the post, you can simply visit your local branch where your documents will be validated and your application completed. If you require your loan funds urgently we recommend you complete your application this way.
If you have received a pack in the post, you can return your documents along with your signed application form using the freepost envelope in your application pack. Your documents will need to be certified first.
If you wish to speak to someone about your online loan application, please call us on the following number:
Call: 0800 121 121 Minicom: 0800 404 6161.
Monday to Friday 8am to 8pm, Saturday 9am to 6pm (excluding public holidays). Calls may be recorded.
Having a good credit history, paying bills on time, not missing payments and not applying for credit regularly will all help give you a good score.
You can manage your bank account in a way which will help to improve your credit score. This means that further down the line you may then be able to successfully take out the product you originally applied for.
Each lender has it's own system, but generally these things can improve your score:
- Being in the same job for a long time
- Owning your home
- Having lived at the same address for a while (more than a year)
- Keeping your address records current
- Being on the electoral roll
- Cancelling unused credit and store cards
- Reducing your debts with savings
- Paying for insurance up front rather than monthly
If you work as a contractor, are a sole trader, work under a partnership, are a director/owner of a limited company or are a member of a limited liability partnership you are still able to apply for a loan providing you meet our eligibility criteria. To apply, you must be 18+ and a UK resident with either a Royal Bank of Scotland current account (held for 3+ months), credit card or mortgage (held for 6+ months).
We will need to ensure that you are able to afford the monthly loan repayments. To do this we will need to see evidence of your income and review the on-going performance of your business.
To do this you will need to provide the below:
- Your last 2 years finalised accounts
Where the latest accounts are more than 12 months old, then confirmation of performance, in the intervening period should be obtained from an independent source e.g. accountant, auditor.
If you own more than one business please provide the accounts for all of these.
- If accounts are not available, please provide the last 2 years Self-employment SA302 Tax Returns
In some circumstances we may require additional information.
If you are a contractor, you will also need to provide:
- Evidence of a history of employment over the past year
- Evidence that a contract for further work is in place
When you complete your loan application form, the income figure you provide must match that on your Tax Return Form, SA302 or detailed in your finalised accounts. If you haven't received a paper copy of your SA302 from HMRC it can be printed online.
What type of borrowing is right for me?
Depending on what you need money for, a credit card or overdraft might be a better option than a loan. Our Borrowing Options tool will help you figure out what type of lending will suit you best.