Bank of Scotland Loans

Compare Bank Of Scotland Loans

If you are trying to find a loan, whether you want a new car, to pay for home improvements or to consolidate debt you might have been looking at Bank of Scotland loans.

Bank of Scotland Personal Loan

Bank of Scotland loans allow existing customers to borrow up to £25,000 with a personal loan.

Bank of Scotland personal loans feature:

• Loans from £7,500 to £25,000 for terms 1 to 5 years

• Fixed repayments over 1 to 7 years

• No charge for early repayment

• Overpay as much as you want when you want.

• No arrangement fees

To apply for a a bank of Scotland personal loan you need:

• To be an existing Bank of Scotland customer for at least three months

• To be in paid employment and not in full-time education

• Not have been declined credit in the last month

• Not have an adverse credit history

Bank of Scotland Graduate Loan

If you have recently graduated and have a Bank of Scotland Graduate Account a graduate loan may be better suited to your needs.  

Bank of Scotland Graduate Loans feature:

• Loans from £1,000 to £10,000

• Competitive rates of interest offered

• Repayment periods over 1 to 5 years

Further Advance

Bank of Scotland do not offer home owner loans however if you are an existing Halifax Mortgage customer who has held the mortgage for 6 months or more you may be able to get a ‘Further Advance’

Bank of Scotland Further Advances allows you to borrow up to 85% of the value in your home with repayments over your mortgage term.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. If you are at all unsure of the suitability of a particular product for your circumstances you should seek independent financial advice.

Make sure you get the best deal

Taking out any kind of loan is a long time commitment usually taking years to fully pay off. You therefore want to ensure you are getting the best loan you can to suit your needs.

As with other financial products like current accounts and credit cards interest rates on loans and other terms and conditions vary hugely between the different plans and lenders. The best option for you is not necessarily the best option for everyone.

You can use the calculator on this website to compare over 200 different loans from over 20 different providers, to help you see what the different options for you are.

Other options

As taking out a loan is an important decision you should think if you have any other options before taking one out. If you have any savings it might be beneficial to use these instead, it may be that the interest you pay on a loan will be higher than any interest you earn in your savings.

There are other types of borrowing than personal and home owner loans such as authorised overdrafts and credit cards you might wish to consider.