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 £50,000 over 1 to 7 years.

Our Flexible Loan gives you:

  • 4.6% APR representative 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 1 month, 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.

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.

Flexible Loan calculator

Representative Example:

You could borrow £6,000 over 48 months with 48 monthly repayments of £152.25. The total amount repayable will be £7,308.00. Representative 10.5% APR, Annual interest rate (fixed) 10.03%.

months

Representative Example:

You could borrow £6,000 over 48 months with 48 monthly repayments of £152.25. The total amount repayable will be £7,308.00. Representative 10.5% APR, Annual interest rate (fixed) 10.03%.

Monthly repayments

£0.0

Total amount repayable

£0.0

Illustrative APR

0%

Our loan features

  • From £1,000 to £50,000
  • Overpay
  • Over 1 to 7 years
  • Fixed repayments
  • Quick, easy and secure

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Current account customers registered for Internet Banking

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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 £50,000.
Arrangement fee There is no arrangement fee.
Default fees

If you miss a monthly repayment, your loan will be transferred to our Collections department and we will charge you £25. If you continue to break the agreement you may be subject to further charges.

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

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.

Managing 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.