To apply for borrowing you must be 18+ and resident in the Channel Islands, Isle of Man or Gibraltar. Subject to lending criteria.
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Need to borrow money?
If you’re looking to borrow money, you might be considering if a loan or an overdraft is the better choice.
Before you decide, you might want to review your credit score. A poor score can impact your ability to borrow money and increase the interest rate you'll pay. Take time to understand what affects your credit score and how you could improve it.
Loans
A personal loan allows you to borrow a fixed amount over a fixed period of time.
It's a suitable option to merge debt or make larger one-off purchases such as a new car or home improvements.
With a loan you can:
- borrow from £1,000 – £50,000
- repay over 1 to 10 years
- make fixed monthly payments
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Subject to lending and affordability criteria. You can make overpayments or pay off your loan early, subject to early repayment charges.
Overdrafts
An arranged overdraft is when we agree to a limit that lets you spend more money than you have in your current account.
An overdraft is usually used for covering short-term spending or unexpected expenses. This is an option to consider if you’re able to quickly repay .
With an overdraft you:
- can arrange a limit from £250
- only pay interest and fees if you use it
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Subject to lending and affordability criteria. There’s no cost to set up an arranged overdraft. Interest charges only apply for the days you use your overdraft.