Personal loans

A personal loan is one way to borrow money. You borrow a lump sum and pay it back with interest over an agreed period of time. The amount of interest you pay depends on how much you borrow and how long you take to pay it back.

You can use a loan to make a big one-off purchase like a car, pay for events like holidays or weddings, or pay off debt.

You can’t use a personal loan for:

• a business or business vehicle
• buying property, including mortgage deposits
• buying or keeping an interest in land
• a bridging loan
• investing or speculative purposes, like gambling and cryptocurrency.

We offer loans of between £1,000 and £50,000. You can choose to repay it over 1 to 7 years, or up to 10 years if you borrow £10,000 or more. The maximum we’re able to lend you will depend on how long you want to borrow for and your credit history.

First, use our loan calculator. It will give you an idea of the interest rate and monthly repayments you could get. Then when you’re ready, you can start your loan application.

As part of your application, we’ll give you a quote. The quote will be based on the information you give us, so it will be just for you. You can then decide if you want to continue with the application. Getting a personalised quote doesn't affect your credit rating.

Yes, if you want to. You can:

• make loan overpayments to pay it off quicker. Overpayments are one-off payments on top of your regular monthly payment
• pay off the rest of the loan in one go. You’ll need to ask us for a settlement figure because we need to work out the interest left to pay

There’s no charge for making overpayments or paying off the loan early.

It depends. When you apply for a loan, you'll need to agree to a credit check. We use that to decide if we're able to offer you the loan. We'll tell you what our decision is and whether or not we can accept your application.