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RBS Car Loan Overview

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The information below gives you all the important details you need to know in getting an RBS bank loan for cars.

How much are RBS car loan rates? Use the RBS car loan calculator below for an estimated repayment. Input your desired amount and use the sliders to adjust the terms and see different repayment options based on RBS car loan interest rates.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

RBS car loans review

You can get an RBS car loan to purchase a new or used vehicle. RBS car loans’ interest rates, as well as the terms available, may vary based on the amount you borrow.

RBS car loan features

Thinking of applying for an RBS car loan? Here are the key features and benefits to expect:

  • Loan amount and terms. Borrow £7,500 and £19,950 over 1 to 5 years or £7,500 – £50,000 over 1 to 8 years, with rates starting at 3.4% APR.
  • Fixed rates. RBS offers fixed interest rates that will not exceed 29.9% p.a. This means that the interest rate and your repayments will be the same every month.
  • Fast process. Get your money within the same day you apply, if all information is complete and you were able to sign your loan documents.
  • Flexible repayments. You can get a chance to have repayment holidays or defer your first loan repayment for three months. RBS also allows borrowers to repay their loans early with a charge.
  • Apply and manage loans online. Apply for a car loan in minutes through the RBS website and manage loans through the mobile app.
  • Check your credit score for free. RBS current account holders can check their credit score through their digital banking account and via the mobile app, free of charge. This will not leave an impact on their credit records.

How to apply for an RBS car loan?

Check that you’re eligible:

To qualify, you must:

  • Be 18 years old or older
  • Be a UK resident
  • Hold a Royal Bank of Scotland current account for 3 months or more
  • Be in good credit standing and not been declared bankrupt in the last 6 years
  • Have not applied for a personal loan with RBS for the last 28 days

What you’ll need:

Other than your personal and contact information like phone number and email address, you should also prepare the following when applying:

  • Valid IDs
  • Details of your Royal Bank of Scotland current account
  • Proof of income

 

RBS car loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£20,000

Term

60 months

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RBS

RBS Car Loans

RBS Car Loans
EST Monthly Repayment
£425 Inclusive of fees
EST Monthly Repayment
9.99%
APR
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
GO TO SITE
View RBS's website for more details on their car loans
Featured
Carmoola

Car Hire Purchase

EST Monthly Repayment
£474 Inclusive of fees
Interest Rate
14.80%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
GO TO SITE
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.

BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.

Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

RBS Car Loan FAQs

Where can I use an RBS car loan?

You can only use the RBS car loan to fully purchase a new or used vehicle. It cannot be used to cover car tax or as a deposit.

How long does it take to get an RBS car loan?

Apply for an RBS car loan online and get it within the same day. This is given that you have signed all loan documents before 5:45 pm on a weekday, excluding Bank Holidays.
 
In instances that RBS need additional information, they will reach out to the borrower. In this case, the process can take more time.

How to get a repayment holiday for an RBS car loan?

Upon application, RBS will let you know if the repayment holiday option is available to you based on your circumstances. The option to defer your payment is only available for your first repayment, enabling you to defer the repayment over a three-month period. However, note that this will increase the total cost and monthly repayments of your loan.

How can I apply for an RBS Car Loan?

Go to the Royal Bank of Scotland website and click on Personal Loans>Car Loans. Fill out the car loan application to get a personalized quote and check eligibility. RBS will also ask you to log in to its Digital Banking platform. The application process can take up to 10 minutes.
 
RBS will provide an offer, which you can accept once you’ve decided. Sign all loan documents and wait for your loan to be deposited into your RBS bank account. You can manage your loan, check your balance and make repayments through their mobile app.

Can I take a loan under someone else’s name?

No. Borrowers, which need to be Royal Bank of Scotland current account customers, can only apply for a loan under their own name.

Learn more about purchasing a car with RBS in this video

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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