Personal loans FAQs

Find answers to the most frequently asked questions about our personal loans. 

Understanding your loan

Existing loans

  • If you're an existing Bank of Scotland loan customer, and your needs have changed, you could apply to borrow more money at any time.

    You can either:

    Choose to take out a second loan that you'll repay separately to your existing loan

    Or, if you would prefer to have just one monthly repayment, you can close and replace your existing loan with a new larger one. When we work out the amount needed to repay your existing loan in full, we may include up to 58 days’ interest.


    • you refinance existing debts the rate of interest on your new loan may be higher or lower than the rate of interest on your original debt.
    • you're paying higher interest rates on your borrowing than on the loan you plan to consolidate your debts to, you could reduce the overall amount you have to pay back.
    • your loan is a higher rate of interest than your original debt, or your repayments are over a longer term, you may pay more interest overall.

    To borrow more on top of your existing loan, call us on:

    0345 600 4611, option 1

  • If your circumstances have changed and you're struggling to repay your loan, please call us in confidence on 0808 145 0676. Lines are open 8am-9pm Mon-Fri, 8am-4pm Sat, 9am-2pm Sun.

    You can't miss a payment and 'catch up' the following month. If you miss a monthly payment, or are late in making a payment, you'll be charged a late payment fee of up to £25. Details of the missed/late payment will be registered with a credit reference agency and could affect your credit rating.

    If needed, they can hold a full financial review with you, offering information and suggestions on how they think you could save money. Please note that the Money Management team can't change or delay your loan payment date or amount. They are not in a position to discuss the current terms and conditions of your loan.

    If you don't feel the above information can help and still need further advice, the following third-party organisations should be able to answer your questions and suggest suitable courses of action.

    Citizens Advice


    StepChange Debt Charity

    National Debtline

    Other ‘help’ organisations may charge a fee, so it’s worth checking before you approach them.

  • If you make an early settlement in full or part, you might be entitled to a rebate. This means you wouldn’t have to pay all of the interest.

    You can repay your loan in full at any time during the repayment period. We may charge up to 58 days interest.

  • If you're an existing Bank of Scotland Internet Banking customer, you can view your current loan balance online. Please be aware that this may not be your final settlement figure.

    Or, to find out the outstanding balance on your personal loan just call our Customer Services team on 0345 604 7291, option 3. They’ll be able to give you your final settlement figure.

  • Bank of Scotland Personal Loans Service Centre, PO BOX 952, Newcastle upon Tyne, NE27 9DH.

Extra payments

  • You can make extra payments to your loan, which will reduce the interest you’ll pay and may reduce your loan term. Payments can be made from a Bank of Scotland current or savings account with Internet Banking. If you make extra payments to your loan, you must continue to pay your monthly repayments. Our calculator can help by showing you how.

    Log in to Internet Banking and make an extra payment by selecting your loan from the account overview page.

    If you’re not registered for Internet Banking, you can register today. It should only take a few minutes and you should be able to log in as soon as you’ve finished.

    Or, you can call us on 0345 604 7291 (8am to 10pm, seven days a week) or visit your nearest branch.

Applying for a personal loan

  • To apply for a personal loan, you must:

    • Have one of the following Bank of Scotland products: bank account (except for Easycash) held for at least one month
    • Be age 18 years or over and either be in paid employment or have a regular income. Retirees must have an income from a private or State Pension, or (a combination of) both
    • Not be in full-time education
    • Have a bank/building society account
    • Have a permanent UK address
    • 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.

    Personal loan

Mobile Banking app

Scan to download the app

  • Join our 1 million app users.
  • Simple and secure log in.
  • Stay up to date with notifications.
More about the app

Internet Banking

Log in to view or rearrange your accounts on our website.



Mobile Banking app

Scan to download the app

  • Join our 1 million app users.
  • Simple and secure log in.
  • Stay up to date with notifications.
Download app

Internet Banking

Log in to view or rearrange your accounts on our website.



Message us online

Get answers to your everyday banking questions. Log in to our app or Internet Banking to get in touch.

How to message us

Money worries

With the rising cost of living, it's natural to worry about your money. We’re here to help.

Help with your finances

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.