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Virgin Money Personal Loans Overview

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The information below will guide you through the essential points when obtaining a Virgin Money personal loan. This lender offers competitive loan options to help you with your financial needs.

Use the Virgin Money personal loan calculator below to find an amount to borrow that fits your budget. Simply input your desired loan amount and term to know your estimated monthly repayment. You can easily adjust the figures until finding out the best option for you.

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.

Virgin Money personal loans review

Personal loans offered by Virgin Money can cover your various financial needs. This includes home renovation, buying a car, paying for a wedding or taking a vacation.

Virgin Money loan features

  • Loan amount. £ 1,000 to £ 35,000.
  • Loan terms. From one up to five years. There is an option to extend up to seven years if you apply for a £ 7,500 loan or above. That’s if 50% of your loan amount will be used to pay an existing loan with the bank.
  • Fixed rates. From 2.9% to 28.9%, depending on your individual circumstances.
  • Unsecured loan option.No need to worry about collaterals.
  • Online application.All applications are processed through Virgin Money’s official mobile banking app. (More info in the video at the bottome of this page)

How to apply for Virgin Money personal loan?

Check that you’re eligible

You need to download Virgin Money’s official mobile banking app to apply online. The bank will take into consideration the following criteria:

  • 18 years old or older
  • UK resident
  • Have not applied for a personal loan with Virgin Money in the last three months
  • Current Virgin Money account holder
  • B customers, and Clydesdale Bank or Yorkshire Bank depositors are also eligible to apply

You can check if you are eligible through their official mobile banking app prior to applying for a personal loan. Doing so will not impact your credit score. Like with other banks, Virgin Money also looks at your credit history. Those who are currently bankrupt or got a County Court Judgment may find it difficult to obtain a loan.

What you’ll need:

Aside from providing your personal details, you also need to prepare the following:

  • A government-issued ID (eg. passport or driving license)
  • Proof of income (payslips, letter of employment)

 

Virgin Money personal loan calculator

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

Loan Amount

£20,000

Term

3 months

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Virgin Money

Virgin Money personal loans (15,000 - 24,999)

Virgin Money personal loans (15,000 - 24,999)
EST Monthly Repayment
£582 Inclusive of fees
EST Monthly Repayment
3.00%
APR
EST Monthly Repayment
12 months
to 84 months
EST Monthly Repayment
£15,000
to £24,999
Go to site
Special surprise or a serious buy we’ve got a loan you’ll love. A special occasion, a once-in-a-lifetime break, or a little more oomph in your home. Whatever you're leaning towards, you'll love our personal loan.
Featured
Nationwide

Nationwide personal loans (7,500 - 25,000)

EST Monthly Repayment
£581 Inclusive of fees
Interest Rate
2.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Go to site
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Featured
Santander

Santander personal loans for £7,500-£15,000

EST Monthly Repayment
£582 Inclusive of fees
Interest Rate
3.00%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
Go to site
You are eligible if you’re 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 haven’t been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Featured
HSBC

HSBC personal loans (15,000 - 25,000)

EST Monthly Repayment
£590 Inclusive of fees
Interest Rate
3.90%
APR
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Go to site
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.
Featured
Barclays

Barclays personal loans (15,000 - 24,999)

EST Monthly Repayment
£616 Inclusive of fees
Interest Rate
6.80%
APR
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
Go to site
When it comes to putting your plans into action, it’s 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.

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.

Virgin Money FAQs

How many payslips are required to present as proof of income?

It depends on your employment status. If you are employed and paid monthly, you need to present wage slips from the past three months. Those who are paid weekly are required to present wage slips from the past four weeks. Pensioners need to present a recent award letter from either Department of Work and Pensions or from a private pension provider.

What other information do I need to present?

Besides proof of income, you may also be asked to present your addresses from the last three years. Also, prepare the details of your monthly expenses ready for presentation. These expenses include any mortgage or rent, credit cards, and current personal loan repayments.

How long does it take for Virgin Money to release the funds upon approval?

Once your personal loan is approved, the loaned amount is typically uploaded to your account within two hours. If not, the latest will be at the end of the next business day.

Is there an option for early loan repayment?

Yes, but with a cost. Virgin Money will compute the interest they will lose due to early repayment. The bank offers three early repayment options. First, you can pay everything you owe at once. Second, you can make one extra repayment to reduce the principal amount. Lastly, you can opt to add more than one extra repayment to lower your monthly repayments.

Learn more about Virgin Money banking app 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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