RBS personal loan features:
- Borrow between £1,000 - £25,000 for almost any purpose
- Enjoy a special online rate on loans of £7,500 or more
- Spread your payments over 1 to 5 years, or up to 7 for loans over £15,000
- Home improvement loans over £2,500 can be repaid over 10 years
- If you apply online before 5:55 the funds can be in your account by the next day
RBS loan calculator
To get an estimate of how much your loan repayments would be you could use the Royal Bank of Scotland loan calculator, you just need to enter; the reason for your borrowing, how much you want to borrow and how long you would like the repayment term to be. The Royal Bank of Scotland loan calculator will then be able to estimate how much your repayments would be based on their Representative Annual Percentage Rate for a loan of that size.
However if you do apply for the loan the actual annual percentage rate you are offered may deviate from this, this is because most lenders will work out what APR they are willing to offer you based on an assessment of your credit score and other financial circumstances. This check will also affect the specific amount you can borrow, £25,000 is just the maximum you can borrow with this plan you are not necessarily guaranteed to be able to borrow up to that much.
Before you take out a personal loan
Loans can be long term commitments, therefore before you apply for a loan of any sort, you should shop around and compare different offers, there are a diverse range of loans on the market, you should think about when looking what features are important to your specific needs. You can use the comparison tables above to look at loans from a variety of different lenders at the same time
You may also want to think about alternatives to borrowing such as using savings instead.
There are also other types of borrowing such as authorised overdrafts and credit cards you might wish to consider.