Loans
Bank of Scotland Unsecured Personal Loan
Our Online Loan Buys *
| Typical APR | Per Mth | ||
|---|---|---|---|
|
7.8% | £200.54 |  |
|
8.5% | £203.65 | |
|
8.6% | £204.10 | |
|
8.6% | £204.10 | |
|
8.7% | £204.55 | |
| * Based on £10000 over 5 years and is not a full search of the whole market | |||
Bank of Scotland offers cheap loans to customers applying online for borrowing of between £7,000 and £25,000. These personal loans are fixed in interest for the life of the loan and can be taken for any duration between two and seven years.
Search for the cheapest loans and apply online.
Bank of Scotland's so-called 'smaller loans', are available between £1,000 and £6,999 and come with a higher APR. The period over which you must repay the loan is also shorter at between one and five years.
Again, the interest rate is fixed for the chosen term of the 'smaller' unsecured loan and no repayment is required during the first three months - although interest starts to be charged as soon as the loan is completed. Borrowers will receive an online instant decision and, according to the Bank of Scotland, it takes just 10 minutes to apply. Once agreed, funds are then delivered into your bank account within 24 hours.
Whether you opt for the personal loan or smaller loan - which both constitute unsecured lending - Bank of Scotland offers optional payment protection insurance (PPI). If you require this insurance, you can chose from three levels of cover.
Is a Bank of Scotland loan right for you? Maybe yes, maybe no. The best way to find out which is the right personal loan for you is to use a comparison tool like Moneyextra's Personal Loan Search.
Last updated April 2008
Nothing in this article constitutes investment advice or a recommendation by Moneyextra to invest in any product, or employ any service, mentioned or advertised.