Your Borrowing Options

If you are looking to borrow money it is important that you make the right choice for your circumstances. The information below will help you compare the options available to you.


Credit Cards

Current Acount - Planned Overdraft

Eligibility criteria

Applicants must be existing Bank of Scotland customers, UK residents, aged 18 and over. Subject to status.

Applicants are approved subject to status and must be a UK resident aged 18 or over.

Subject to status, application and approval to UK residents aged 18 or over.

How much you could borrow

£1,000 to £50,000, subject to status

Subject to status.

Subject to status.

Repayment term

1 to 7 years. The term is fixed when you take out your loan.

Credit cards are designed to be a flexible form of borrowing so there is usually no set repayment term. It's worth bearing in mind that some of our cards have interest-free promotional periods and these are usually only for a specified period of time. In order to keep this promotional rate you will need to pay at least the minimum payment each month and stay within your credit limit. Only paying the minimum will cost you more as it’ll take longer to clear your balance.

Overdrafts are designed to be a flexible form of borrowing however you should note that they are repayable on demand.

Fixed interest rates/fees?

The interest rate is fixed and guaranteed for the life of your loan. We don't charge you any fees to set up your loan but fees can apply if you miss a payment.

Interest rates are variable, which means they can either go up or down. To find our more about variable interest rates, call our Credit Card Customer Services team.

If you have a planned overdraft, we may charge a daily overdraft fee for using it. View our current overdraft fees.


Fixed monthly repayments with the option to make unlimited additional payments. This could shorten your loan's term or reduce the amount of interest you pay. Also, there is no early settlement adjustment for paying off your Flexible Loan early but there may be for other loans including the Personal Loan.

It’s up to you how much you repay each month. You must pay at least the minimum payment by the due date each month, but you can also choose to pay either the full balance, a fixed percentage of your account balance or a fixed amount each month to reduce your balance quicker. You won't be charged for paying more than the minimum payment and can set-up a direct debit for all of these options to help ensure you don't miss any payments.

An overdraft is intended as a short-term borrowing method, to help tide you over until you have funds available to put your account back into credit.

Secured against your property?




Find out more

Find out more

Find out more

Mortgage – Additional Borrowing

If you're an existing Mortgage customer, you may be able to borrow more.

Find out more


We want to make sure you're comfortable with the amount you borrow and that you're confident about paying it back. So it's worth asking yourself a few questions before you decide;

  • What will my repayments be?
  • Can I afford to pay the money back?
  • Are my circumstances likely to change?
  • Will I be able to afford bigger repayments if interest rates go up?
  • What features or benefits will I get?
  • Are there any risks and what happens if I can't pay back what I borrow?


APR stands for the Annual Percentage Rate. You can use it to compare different credit and loan offers. The APR takes into account the interest on the money you borrow and other charges you have to pay, for example, any arrangement fee. The APR won't always include all fees and charges - you may still need to pay missed or late payment charges, or balance transfer fees for credit cards for example.

Representative APR

The Representative APR is calculated by looking at the rate at least 51% of customers are expected to receive when applying.


EAR stands for the Equivalent Annual Rate. This is the actual interest rate of a credit card. It doesn't take account of any fees or charges.

Section 75 of The Consumer Credit Act 1974

Section 75 of The Consumer Credit Act 1974 gives credit card customers legal rights if they’ve paid for goods or services using their credit card. It applies when the total price of the goods or services is over £100 and up to a maximum of £30,000 and all or part of the purchase price was made using a credit card.

If you’ve bought something using your credit card, the credit card issuer and the merchant may be equally liable for compensating you if things go wrong. For example if there's a breach of contract or misrepresentation by the merchant against you, you may be able to successfully claim a refund through us.

Credit scoring

When you apply to borrow money, many lenders will use a credit score to help them make a decision on whether to lend the money or not. When you apply to borrow from us, your score might be based on what we know about your existing accounts with us, and information from other credit reference agencies. If you’re an existing Bank of Scotland customer, you can get a loan quote which won’t affect your credit rating. With a good credit history and payment record you're likely to be given a good credit score. If you've had many credit cards and loans, have missed payments and made lots of lending applications you may get a lower score. A low score may mean you're lent less money, given a higher interest rate or your application is turned down.