Joint Loans

Better together? It's important that if you're looking to apply for a loan, you understand your options.

Joint loan features

Our Personal Loan is available as a joint loan.

You can apply over the phone and manage your loan online and by using our apps.

  • 6.7% 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 branch, over the phone or online.

Other 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.

What you need to know

  • When you apply for a joint loan, you each agree to pay off the whole debt if the other person doesn't
  • Once you have a joint loan, your credit files will be linked. 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 take that into account as well as your own
  • 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 will charge you up to 58 days’ interest.

You can apply if both applicants:

  • 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
  • are not applying for any of these reasons.

Apply over the phone

You can apply for a joint loan over the phone by calling 0345 604 7291. Lines are open 8am-10pm seven days a week.

When you apply over the phone only one applicant needs to be present, however if accepted both applicants will need to sign the documents sent to you.

Call us

If a joint loan isn't right for you and you'd prefer to apply as a single applicant, find out more about our Personal Loan.

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