Frequently asked questions
Representative 3.4% APR
Before you apply for a personal loan
Yes. Our loan calculator can help you estimate how much you could borrow, your representative interest rates and monthly payments, with no affect on your credit rating. Click here to use our loan calculator.
You can also find out if you're likely to be approved using our Quick Quote tool. It has no impact on your credit rating and will show you how much you may be able to borrow, your personalised interest rate and monthly payments. Click here to use our Quick Quote tool.
A loan can be used for almost any personal purpose, for example:
Buying a new or used car
Consolidating your debt
Making home improvements
Paying for a wedding
There are some things a personal loan can't be used for. These include:
Buying or putting down a deposit on a property or land
Household bills, rent or mortgage payments
Payments in arrears
Tax avoidance arrangements
Court or solicitors' fees
Buying shares or other investment funds
You’ll need to 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).
You can apply to borrow any amount from £1,000 to £50,000.
You could have the funds the next working day if you use Digital Banking, apply and are unconditionally accepted before 5.55pm Monday - Thursday.
Even if you’re not registered for Digital Banking – you can still apply online. Subject to agreement, we’ll send your documents by post – these typically arrive within 3-5 days. Simply check, sign and return the documents to us. Alternatively, you may receive an email or text message inviting you to provide more information electronically via our DigiDocs portal. The funds could be in your account within two days, provided your application is successful.
Help with your loan application
You should add up all your monthly earnings. You can include:
Salary (after tax)
Disability Living Allowance
You can also include:
Court-agreed child maintenance
Long-term town, housing, or shift allowances from your employer
Child Tax Credit
Working Tax Credit (if it's not already included in net salary)
Under 'Other monthly income' you can include child benefit, any other state benefits and any other net (after tax) regular income you receive.
If you declare income that's not shown on your Royal Bank of Scotland current account, we may ask for additional confirmation.
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 are 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).
As a responsible lender 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:
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 happens once I've applied for a loan online?
Congratulations. You'll receive written confirmation of your loan account details in the next few days.
We'll text you within the next two working days when the money is available in your chosen account.
We've received your application. We'll be in touch within 5 working days, we just need to check your details and we will get back to you if we need more information.
You may receive an email or text message inviting you to provide more information electronically via our DigiDocs portal.
If you'd like help using DigiDocs, check out our guide.
Alternatively, you'll receive an application pack in the post detailing exactly what documents we require, which you can provide in branch or by post.
We hope there weren't any problems. But if there were, let us know.
If you didn't get the APR that you expected, our APR guide can help to explain why.
If you'd rather speak to someone, call 0800 200 400. Minicom number 0800 917 0526. Monday to Friday 8am to 8pm, Saturday 9am to 3pm (excluding public holidays). Calls may be recorded.
We're really sorry about that. We understand this might be disappointing, but we can only approve applications that meet all of our criteria.
It might be because you tried to borrow too much or over too short a time. Use our Quick Quote tool to see if entering a different amount or repayment length will make a difference. Don't worry, this won't affect your credit score.
Our guide to borrowing and credit scoring could help to explain why we decline some applications. This guide might also help you when making future credit applications.
If you'd rather speak to someone, call 0800 148 8331. Minicom number 0800 404 6160. Monday to Friday 8am to 8pm, Saturday 9am to 3pm (excluding public holidays). Calls may be recorded.
Your individual circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.
Yes, although we cannot give any assurances that our original decision will be overturned. You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.