Ever heard of “manifesting”? Take your dream for example. Maybe it’s a home makeover, or a mini-break to Spain. Maybe it’s an RV, or digital marketing classes. If you believe in the dream long enough, it will happen.
But oftentimes you need funds, more than willpower, to realize the dream. Come in the RBS personal loan! And with the RBS personal loan calculator, you’ll find out how much it costs monthly.
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.
An Overview of RBS personal Loans
Royal Bank of Scotland started in Edinburgh, Scotland, and currently boasts a nearly 300-year legacy. Through and through, it’s helped its customers’ finances by offering a host of financial products. This has now widened to include bank accounts, credit cards, mortgages, investments, loans and insurance.
RBS personal loans cater to every personal need of the RBS customer. The loans have the following key features:
- Limit ranging between £1,000 to £50,000
- Term from 1 to 8 years
- Fixed APR for as low as 3.4%
- No product fees
- Payments through direct-debit
- No-obligation quote that doesn’t harm your credit standing
- Application process in as short as 10 minutes
- Credit decision within minutes
- Same-day access to funds (some cases may take up to 3 working days)
- Repayment holiday which allows deferring of first repayment up to 3 months
- The choice to repay the loan early in part or in full
RBS also offers joint loans and top-up loans, although terms may vary from those above.
You can also learn more about RBS personal loans here.
Other Things to Know
The maximum loan term adjusts with the loan amount that you pick. For amounts between £1,000 to £7,450, the maximum term is 5 years. For any amount above £7,450, you can go all the way up to 8 years.
However, RBS can even extend the term to 10 years for home improvement loans. This may be the time to check if your home needs a veranda or balcony!
For early loan repayments in full, RBS will charge 58 days’ interest. You will need to contact RBS on how to proceed.
As for the repayment holiday, you can only use this on the first month. Also, not all RBS customers qualify for this. You will find out if you have this option while getting your loan quote.
Finally, RBS will reject the loan for any of the below purposes:
- Purchasing of property
- Property-related expenses (such as mortgages or rent)
- Payment of car tax
- Financing a business
- Settling payments in arrears
- Tax avoidance
- Settling court or solicitor’s fees
- Gambling
- Risky investments such as purchasing shares
Steps in Applying
Congratulations, you’re this close to manifesting your dream! But first, to make the RBS personal loan happen, you’ll need to be:
- 18 years old and above
- Residing in the UK
- An RBS current account holder of not less than 3 months
- Financially sound with no bankruptcy record in the last 6 years
- An applicant who hasn’t applied for an RBS personal loan in the last 28 days
For any joint applicants, they also will need to meet these requirements. However, in place of individual RBS accounts, RBS will accept a joint one between applicants.
Applications go directly through RBS’ website. Be ready for any details and documents RBS may request from you about your:
- UK address in the past 3 years
- Source/s of income
- Monthly expenses
RBS will conduct a full credit search on you when you apply.
RBS personal loan calculator
EST Monthly Repayment
24 months
to 60 months
EST Monthly Repayment
£20,000
to £24,999
If you're thinking about changing your car, sprucing up your home or planning your dream wedding, a Royal Bank of Scotland loan could help get you there.
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
You are eligible if youre 21 or over and live in the UK permanently, you have a regular yearly income of £6,000+, you are able to make your repayments by Direct Debit, and you havent been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Make your plans a reality with a personal loan with fixed monthly payments, an instant credit decision, quick access to funds and no arrangement fee.
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
When it comes to putting your plans into action, its personal. And with a personalised loan just a few clicks away, getting things moving could be simpler than you think. Get your loan rate before you apply without it affecting your credit score.
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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.
