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Bank of Scotland – Home loans

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Bank of Scotland homepage

Author Bank of Scotland. Screenshot of Bank of Scotland website. [Accessed September 5, 2019]

About Bank of Scotland

Since introducing Scotland’s first banknote in 1696 to bringing you Visa contactless, we’ve always made payments easier.

With a personal loan from the Bank of Scotland, we offer existing customers a range of loan amounts with fixed repayments, so you can budget with confidence. Our personal loans give you a fixed monthly payment and term.

The features and benefits of our personal loan:

  • Your personal rate will depend on the loan amount, the term you request and your personal circumstances
  • Receive a personalised quote with no impact to your credit rating
  • Apply for and manage your loan online
  • Instant decision when you apply online
  • Flexibility to make additional payments and apply for a repayment holiday

A repayment holiday

Repayment holidays are obtainable if you meet the criteria. If your application is successful, do note that interest will be charged, overall increasing the interest and your original term will be extended. Existing Bank of Scotland customers that has a bank account with a Bank of Scotland (excluding Easycash) held for at least a 1 month, can get a personalized quote and can apply conveniently online.

Bank of Scotland Services

As an existing Bank of Scotland loan customer, you can apply for more money at any time.

You can simply replace your current loan agreement with a new one, taking out additional funds, or you can enter into a second agreement. The choice is yours. For further information, please see debt consolidation.

How much can I qualify for?

You can borrow any amount from £1,000 to £50,000 and either extend your business loan term keeping your repayments similar or increase your monthly repayments and keep the loan term the same. Our personal loan is available from 1-7 years.

Our business loan gives you:

  • 9% APR representative on loans from £7,500 to £25,000 over 1 to 5 years
  • A wide range of borrowing options:
  • Choose to borrow £1,000 to £50,000 over 1 to 7 years
  • Apply for and manage your loan online
  • Instant decision when you apply online
  • Flexibility to make additional payments and apply for a repayment holiday

Bank of Scotland Product Details

  • Loan Type Home loans

Summary of Services

  • Home Loans
  • Personal Loans
  • Business Loans
  • Car Loans

We have so much to offer you, apply with us today

Repayment holidays are obtainable if you meet the criteria.

If your application is successful, do note that interest will be charged, overall increasing the interest and your original term will be extended. Bank of Scotland has a variety of borrowing options that may be suitable for your needs.

Our personal loan is also available as a joint loan

If you feel that it would be better together. The features of a joint loan:

  • 9% APR representative on loans from £7,500 to £25,000 over 1 to 5 years
  • Make additional payments with no charge
  • Manage your loan in the branch, over the phone or online.

Other quick loan amounts are available at different rates. Loans available from 1 – 7 years. How much we lend and the rate available are subject to our assessment of your circumstances.

Considering this option?

  • When you apply for a joint loan, both parties agree to pay off the whole debt if the other person can’t
  • Once you have a joint loan, your credit files will be connected. If you apply for credit in your own name in the future, a credit search would be able to see the other person’s credit history and taking that into account as well
  • If you fail to make your loan repayments, your credit file may be impacted, and we may charge you an administration fee of £25
  • If you make an early settlement
  • We could charge you up to 58 days’ interest.

You can apply if both applicants are:

  • are Bank of Scotland personal current account customers of at least 1 month (excluding Easycash) or have a mortgage, credit card or loan with us.
  • are not in full-time education
  • are in paid employment or have a regular income
  • are aged 18 or over
  • are a UK resident (excluding the Channel Islands and the Isle of Man)
  • have not have been declined for credit in the last month or have a history of bad credit.

You can apply for a joint loan over the phone by calling 0800 068 2395. Lines are open 8am-10pm 7days a week. When applying telephonically, only one applicant needs to be present, however, if accepted both applicants will need to sign the documents that are sent.

Time for a new car?

Thinking of purchasing your dream car or surprising a loved one, whatever your reason may be, Bank of Scotland offers existing customers a range of car loan amounts with fixed repayments, giving you that economical assurance.

Existing Bank of Scotland customers that has a bank account with a Bank of Scotland (excluding Easycash) held for at least a [1 month, can get a personalised quote and apply conveniently online.

You can also, get a quote and apply if you have a credit card, a mortgage or a loan with us.

Features and benefits

  • You could receive a rate as low as 3.9% APR Representative if you borrow £7,500 – £25,000 over one to five years*
  • A wide range of borrowing options: choose to borrow from £1,000 – £50,000* over one to seven years
  • Flexible repayment options, where you can make additional payments free of charge
  • You have the option of applying for up to two repayment holidays of one month in a rolling 12-month period, subject to approval
  • You can manage your loan on Internet Banking.

If you're interested in buying a car, you could also consider Banking of Scotland Car Finance Plus.

One loan, one repayment

Debt consolidation loans with Bank of Scotland: One loan, one payment

Debt consolidation involves paying off your existing debts with one single loan, leaving you with just a single monthly repayment. So, if you’re an existing customer, you could manage your budget easily by combining all borrowings into a singular, manageable monthly repayment.

To qualify: You just need to be a Bank of Scotland customer with a Bank of Scotland bank account (excluding Easycash) held for at least 1 month and you can get a personalised quote and apply online. You can still get a quote and apply if you have a credit card, a mortgage or a loan with us.

Features and benefits

  • You could receive a rate as low as 3.9% APR Representative if you borrow £7,500 – £25,000 over one to five years*
  • Paying off your existing debts with a single debt consolidation loan could save you money, reducing your overall monthly payments, and help you budget more effectively. With a debt consolidation loan, you only have a single monthly repayment to make
  • Flexible repayment options, where you can make additional payments free of charge
  • Money, instantly in your account. Apply online to have funds instantly transferred to your bank account between 9 am– 8:30 pm, or before 9 am the following day
  • You can manage your loan on Internet Banking
  • You have the option of applying for up to two repayment holidays of one month in a rolling 12-month period, subject to approval.
  • *Other loan amounts between £1,000 and £50,000 are available at different rates.

Looking to renovate your home?

Looking to redo your kitchen or bathroom? Want to make your vision a reality? With a home improvement loan from Bank of Scotland, Bank of Scotland offers existing customers home improvement loans from £1,000 to £50,000 to suit your needs, apply online and receive an instant decision on your loan application.

Customer Reviews & Testimonials

September 2018

Thanks to Bank of Scotland, I was able to get the home I wanted

Jarred B
— Eidingburgh —

June 2019

I got a good deal here. They really helped me out

Aron P
— Brighton —

Bank of Scotland Contact Details

Contact Number

E-Mail

  • not available

Website

Physical Address

Opening Hours

  • Monday 08:00 – 20:00
  • Tuesday 08:00 – 20:00
  • Wednesday 08:00 – 20:00
  • Thursday 08:00 – 20:00
  • Friday 08:00 – 20:00
  • Saturday 09:00 – 16:00
  • Sunday 09:00 – 16:00