Flexible Loan – Giving you more control

Life is full of changes, so it’s good to know there's help at hand.

If you’re an existing Bank of Scotland customer, you could borrow between £1,000 and £25,000 over 1 to 7 years.

Loyalty reward

For Bank of Scotland customers who have held a current account for 5 years or more and borrow between £7,500 and £25,000, a 0.7% discount will be applied at the start of the loan.

Our Flexible Loan gives you:

  • 4.1% APR representative (including loyalty discount) available on loans from £7,500 to £25,000 over 1 to 5 years
  • No charge to pay off your loan early
  • Apply for and manage your loan in branch, over the phone or online
  • Instant decision when you apply online
  • Flexibility to make additional payments and apply for a repayment holiday*

* Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you will pay more interest overall and your original term will be extended.

If you’re an existing Bank of Scotland customer with a Bank of Scotland bank account (excluding Easycash) held for at least 3 months, you can get a personalised quote and apply online. You can still get a quote and apply if you have credit card, mortgage or loan with us. Find out how.

A decision to offer you a loan is based on your individual circumstances.

 Log in to get your quote

Not registered for Internet Banking? You can also get a quote and apply.

Important information

Key information for our Bank of Scotland Unsecured Personal Loan
Interest charging information The interest rate is fixed and guaranteed for the life of the loan. Interest is charged and added to your loan account each month. We charge interest for the complete duration of the loan including the period between the start of your loan and your first repayment.
Repayment information Payment is by direct debit. The payments are monthly until the loan is repaid.
Repayment period You can choose to repay your loan over 1 to 7 years.
Amount of loan available Loans are available to existing customers from £1,000 to £25,000.
Arrangement fee There is no arrangement fee.
Default fees We may charge you for our other losses or reasonable costs as a result of you breaking the agreement, including the costs of finding, notifying or contacting you and enforcing the agreement.
Early settlement You can repay your loan in full or in part at any time during the repayment period. There is no early settlement adjustment made on our Flexbile Loan. An early settlement adjustment may be made on our other loan products.

View an example of our Flexible Loan Agreement

Written quotations are available on request. All lending is subject to appraisal by the Bank of the applicant's financial status.

To apply for a loan, you must:

  • Be an existing Bank of Scotland customer
  • Be over 18 years old
  • Be in paid employment or have a regular income
  • Not be in full time education
  • Have a bank/building society account
  • Be a UK resident with a permanent UK address (excluding the Channel Islands and the Isle of Man)
  • Not have been declined for credit in the last month
  • Not have a history of bad credit such as arrears, county court judgements (CCJs), default or bankruptcy

Certain purposes of loan may be excluded or have limited repayment periods; please ring 08458 50 37 08 for details.

The rate you are offered will depend on credit assessment procedures, your personal circumstances and other related factors.

We charge interest for the complete duration of the loan including the period between the start of your loan and your first monthly repayment.

If you are in breach of your Bank of Scotland loan agreement we may take any money you owe us from any other Bank of Scotland accounts which have a credit balance, including a joint account providing the conditions allow and there are sufficient funds.

Products and offers are subject to conditions and can be withdrawn without notice.

Loans are provided by Bank of Scotland plc.
Registered Office: The Mound, Edinburgh EH1 1YZ.

Manage your loan online.

You can now manage your loan using Internet Banking.
Log in to Internet Banking to:

  • View your loan statement
  • Make additional payments
  • Get an early settlement quote
  • Pay off your loan early
  • Apply for a repayment holiday.

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(Between £1,000 and £25,000)

Defaqto Rating

Flexible Loan provides one of the highest quality offerings in the market.

Awarded a 5 star defaqto rating in 2016.