Existing Loan Customers


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.

You can borrow any amount from £1,000 to £50,000 and either extend your 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. So if you're still imagining that dream kitchen, new car, loft conversion - or if you just want to tidy up your finances - why not make your plans a reality and apply today.

Our Personal Loan gives you:

  • 3.9% APR representative on loans from £7,500 to £25,000 over 1 to 5 years
  • 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*

*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. How much we lend and the rate available are subject to our assessment of your circumstances.

If you’re looking to borrow money, it’s important that you make the right choice for your circumstances. Bank of Scotland also have other borrowing options that may be suitable for your needs.

Personal Loan Calculator

The Flexible loan is available to apply for in branch.

Frequently asked questions

Why can't I see the option to refinance my existing borrowing when I apply online?

If you are only given the option to take out a separate new loan then you are not eligible to apply online to combine your new and existing borrowing into a single loan. This option is available online if your current loan account number starts with ‘100’, the loan is held in your sole name and you hold only one existing Bank of Scotland loan. However, we may still be able to help you over the phone or in the branch.

Why is my loan balance different to my loan settlement balance?

If you have taken out a Flexible Loan you agree to repay the capital plus the interest as it accrues. You can repay your loan in full or in part at any time during the repayment period. If you pay off your loan in full before the end of the agreed term, we will calculate what you owe us at the time which will include capital plus interest accrued but no additional charge.

If you have taken out any of our other loans, the amount you agree to repay includes interest that is charged to the end of the loan term. If you make an early settlement, you might be entitled to a rebate, which means you would not have to pay all of the interest. You can repay your loan in full or in part at any time during the repayment period and we will reduce the charge for credit you have agreed to pay us. If you pay off your loan in full before the end of the agreed term, you may be charged up to 58 days' interest.

Does my loan automatically close if I choose to refinance my existing borrowing?

If you choose to refinance your existing borrowing into a new loan, we will close your existing loan and open another one for the new amount. We will confirm how much you will repay each month and your new rate of interest – which may be higher. You may be charged up to 58 days' interest for closing the existing loan early. (The early settlement adjustment does not apply to the Flexible Loan). If you chose to extend the term of your loan a longer repayment period will mean you will pay more interest overall.