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Features and benefits

  • Instant decision when you apply online and, in the majority of cases, we’ll tell you how much you could borrow and if you’re likely to be approved when you get your quote. This won't impact your credit score
  • You can apply for up to two repayment holidays each year, subject to approval.
  • Loans are available to existing customers from £1,000 to £50,000 over 1 to 7 years
  • Flexibility to make additional payments, with no extra charge
  • You can repay your loan in full at any time. If you repay your loan in full, we will make an early settlement adjustment of up to 58 days' interest.

Your personalised quote will depend on the loan amount, term you request and your personal circumstances.



Paying it back - What you need to know

Managing your loan - it's easy to keep track of your loan using Internet Banking or the Mobile Banking app, but you can also phone us or visit us in branch.

Repayment holidays - you can apply for up to two repayment holidays per year, subject to approval. Just be aware, interest will still be charged so you'll pay more overall, and your loan term will be extended.
Fixed repayments – each month your repayment will be collected by Direct Debit from the bank account you've selected.



You can apply for a loan if you:

  • Are an existing Bank of Scotland customer with a Bank of Scotland bank account (excluding Easycash) held for at least 1 month
  • Are over 18 years old and are a UK resident with a permanent UK address (excluding the Channel Islands and the Isle of Man)
  • Are in paid employment or have a regular income
  • Are not in full time education
  • Have not been declined for credit in the last month
  • Do not have a history of bad credit such as arrears, county court judgements (CCJs), default or bankruptcy.

What reasons you may want a loan for:

You can use a personal loan for almost any purpose such as:

A new car - buying a car with a Bank of Scotland Personal Loan could give you the flexibility you need.

Debt consolidation - bringing all your existing borrowing into one loan could help you manage things easier.

Home improvements - a loan could help your plans to renovate or make extra space in your home.

However, we cannot offer a loan for any of these reasons



Making sure you get a fair deal

We want you to find a product that's right for your circumstances which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Download the statement of responsibilities (pdf 60kb)