Personal
Loans
Debt Consolidation Loans

Woman sitting at her laptop trying to calculate her bills

Debt consolidation loans

Simplify your debts. Apply for a debt consolidation loan.

You could get your money today if you apply and are approved before 5:45pm, Monday to Friday, excluding bank holidays.

Got debts in different places? You could roll them into just one monthly payment.

Representative 6.6% APR

This rate is available on loans between £7,500 and £14,950. Other loan amounts are available at alternative rates. Our rates depend on your circumstances, loan amount and term and may differ from the Representative APR.

Take me to...

Try our debt consolidation loan calculator Open in new window

How to get a debt consolidation loan Open in new window

How to manage your loan Open in new window

Get your personalised quote Open in new window

Apply for a debt consolidation loan Open in new window

Information Message

To apply for a loan online you must be 18+ and a UK resident with a Royal Bank of Scotland current account (held for 3+ months).

Try our debt consolidation loan calculator

What are you borrowing for?

Home improvement loans are available over an extended term, up to 10 years.

How much would you like to borrow?

Text *

Text

Representative 50 APR

The Representative APR changes based on the amount you borrow. You can borrow more than £7,500 over a period of up to 8 years.

Representative 50 APR

The Representative APR changes based on the amount you borrow.

How long would you like to borrow for?

20 Months

Representative Example:

Borrowing

£7,500

Over

0 months

Monthly Repayment

£137.55

Total Repayment

£8,253.00

Representative

3.9

% APR

Interest p/a (fixed)

3.9

%

The rate you pay depends on your circumstances, loan amount and term and may differ from the Representative APR. We will never offer you a rate exceeding 29.9% p.a. (fixed), regardless of loan size. This means you're not guaranteed to get the rate you see in the calculator.

How long could you borrow for?

You could pay back your loan over 1 to 8 years - it depends on how much you're borrowing and what you're borrowing for.

If you borrow between:

£1,000 - £7,450

£7,500 - £50,000

The time to pay back will be:

1 to 5 years

1 to 8 years

How to get your debt consolidation loan

1. Get your personalised quote

See if we're likely to say 'yes' before you apply. A quote takes minutes and won't affect your credit score.

Get my personalised quote Open in new window

2. Complete your application

After you know how much you could borrow, apply in less than 10 minutes – and get an instant decision.

What do I need to apply for a loan?

You need:

Your addresses for the last 3 years.
Your income, spending and employment info.

Can I apply for a loan in the mobile app?

Yes – and it’s easy to do:

Log in to your Royal Bank of Scotland mobile app.
Tap ‘Apply’ in the bottom right-hand corner.
Go to ‘Loans’.
Follow the info to complete your application.

To get our app, you need to be age 11 or over, have a UK mobile number (or international mobile number in some countries) and use a compatible iOS or Android device.

3. Get your cash

You could get your money today. For more info, read 'When can I get my loan?'

When can I get my loan?

You could get your money the same day if:

you apply online.
you've been accepted.
you sign your documents by 5.45pm Monday to Friday (excluding bank holidays).

It might take a bit longer if we need to get in touch with you for more info.

Can I repay my loan early?

Yes, but you’ll have to pay an early repayment charge (ERC).

The cost of the ERC depends on how long you’ve got left to pay off your loan:

Is there a year, or more, left on your loan? You’ll pay 58 days’ interest as an ERC.
More than 28 days left on your loan? You’ll pay 28 days’ interest as an ERC.
Less than 28 days left on your loan? We’ll calculate your interest based on the exact number of days left. So, if you’ve got 12 days left on your loan, you’ll pay 12 days’ interest.

Want an idea of what an ERC could cost?

Let’s say you borrowed £10,000 for 5 years, paying 6.6% interest, and you want to pay off all your loan 2.5 years early. The ERC would be £53.28.

You’d pay the ERC on top of the loan and interest you still owe.

warning Message

Taking on new debt is a big decision… your debt consolidation loan may not be enough to cover all your debts. If so, you'll still have debt in more than one place. You may have to pay an early repayment charge. Plus, if you borrow money for longer, you could pay more interest, costing you more overall.

Take a break with a 3-month repayment holiday

At the start of your application, we'll give you a quote. This might include the option to take a repayment holiday.
You could then choose to delay your first payment by 3 months.
You'll need to say if you want to take a repayment holiday before you start your loan.

If you take a loan repayment holiday, your loan will take longer to pay back. You'll also have to pay back more each month - so your loan will cost more. This is because we charge interest during your loan holiday.

It's easy to manage your debt consolidation loan

We make it easy to manage your loan, so you're in control:

Pay us back early, if you want

You'll just need to pay a fee.

Make overpayments

Chip away at your balance as and when you can.

Use our quick and simple app

Everything you need in one place.

Change your payment date

Just give us a call and we’ll update your Direct Debit.

Check your credit score via the mobile app

It's easy to manage your debt consolidation loan

We make it easy to manage your loan, so you're in control:

Pay us back early, if you want

You'll just need to pay a fee.

Make overpayments

Chip away at your balance as and when you can.

Use our quick and simple app

Everything you need in one place.

Change your payment date

Just give us a call and we’ll update your Direct Debit.

Confused about APR?

Take a couple of minutes to read our APR guide.

Is a debt consolidation loan best for you?

Read our guide to explore your borrowing options.

Are you ready to apply?

Please take your time to read this page and decide if a loan is right for you. Unsure? Try our borrowing options tool.

First, you can apply online if you:

Are 18+ and a UK resident with a Royal Bank of Scotland current account (held for 3+ months)
Have not been declared bankrupt in the last 6 years
Have not applied for a personal loan with us within the last 28 days

Now please read a few other important things:

What you can't use a Royal Bank of Scotland loan for

Buying or putting down a deposit on a property, static caravan or land
Household bills, rent or mortgage payments
Car tax
Business purposes
Payments in arrears
Tax avoidance arrangements
Court or solicitors' fees
Gambling
Buying shares or other investment funds

How do I get additional support with my banking?

You can use the Banking My Way service to tell us about any additional support or adjustments you might need with your banking.

This information will be shared across the bank, meaning you won’t need to tell us about your requirements every time you interact with us.

As an existing customer, you’ll be able to provide this information online, over the phone, or by visiting a branch.

Learn more about Banking My Way

How we use your info

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

Ready to apply?

Just so you know, you can only apply if you have two loans or less with us right now. (More than two loans? You'll need to pay one off before you apply.)

To speed up your application for a loan, we need to do a few final checks with you. They'll only take a minute.

Apply for a loan

What device are you using?

Are you using your mobile, or something else, to apply for a loan?

Please choose an option below to continue

I'm using my mobile

I'm using my desktop or tablet

Is our app on the device you’re using right now?

The Royal Bank of Scotland app is the easiest way for you to apply for a loan. Do you have it on this device?

Please choose an option below to continue

Yes, the Royal Bank of Scotland app is on this device

No, I don't have the Royal Bank of Scotland app

Are you applying on your own?

Please choose an option below to continue

Yes, it's just me

No, I want a joint loan

Great, let's get started

Just a heads up - you'll be asked to log into the Royal Bank of Scotland mobile app to start your loan application.

A quick heads-up before you apply...

To apply for a joint loan applicants must both:

Be 18+ and a UK resident.
Have your own mobile number and email address.
Have had a Royal Bank of Scotland current account for 3 months+.
Have our app - you'll use it to apply.
Not have been declared bankrupt in the last 6 years.
Not have applied for a loan in the last 28 days.

Are you applying first? You'll need to know:

Both your addresses.
Both your incomes and outgoings (how much you spend).

Do you have Royal Bank of Scotland Digital Banking?

If you know your digital banking details we can pre-fill some of your info - making the application process faster.

Please choose an option below to continue

Yes

Are you applying on your own?

Please choose an option below to continue

Yes, it's just me

No, I want a joint loan

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Digital Banking, then return to our loans page.

What do you need to log in to Digital Banking?

You’ll need:

Your Digital Banking customer number, PIN and password.
Your mobile phone – to get your one-time password.

How to apply:

(Please take notes or a picture of this, so you remember)

Log in to Digital Banking.
Choose ‘Loans’ (it’s under ‘Our Products’, bottom right).
You’ll return to our loans page.
Choose ‘Apply for a loan’.
Choose ‘Let’s start’ (under ‘Ready to apply?’).

Log in and apply

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Digital Banking, then return to our loans page.

What do you need to log in to Digital Banking?

You’ll need:

Your Digital Banking customer number, PIN and password.
Your mobile phone – to get your one-time password.

How to apply:

(Please take notes or a picture of this, so you remember)

Log in to Digital Banking.
Choose ‘Loans’ (it’s under ‘Our Products’, bottom right).
You’ll return to our loans page.
Choose ‘Apply for a loan’.
Choose ‘Let’s start’ (under ‘Ready to apply?’).

Log in and apply

Let’s get you signed up for Digital Banking

You’ll need to sign up for Digital Banking with us in order to apply for a loan. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your Royal Bank of Scotland Debit Card, if you have one.

How to register for Digital Banking

Head to 'Register for Digital Banking.'
Enter your personal details. We’ll need details including your name, date of birth, sort code and account number.
We’ll show you your customer number on screen (you're making good progress at this point). Make a note of it as you’ll need it when you log in, in the future. If we don't need anything else from you you'll skip straight to step 7, but you may need to go to step 4, don't worry we'll let you know on screen.
We'll then send you an activation code. We'll send you your activation code in a text message. Or if we don’t have your phone number, we’ll send it through the post.
Go to the Royal Bank of Scotland website and click ‘login’ in the top right-hand corner, have your activation code to hand.
On the login page, type in your customer number and activation code.
Now you need to choose a password and PIN and commit them to memory. The PIN should be four digits long and your password can be between six and twenty characters, and contain both letters and numbers.
Done, finished, complete. Now you can manage your finances anywhere you can get online.

Do you have Digital Banking?

Got Digital Banking? We’ll pre-fill some of your info – so it’s faster for you to apply.

Please choose an option below to continue

Yes, I've got Digital Banking

No, I've not got Digital Banking

Are you applying on your own?

Please choose an option below to continue

Yes, it's just me

No, I want a joint loan

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Digital Banking, then return to our loans page.

What do you need to log in to Digital Banking?

You’ll need:

Your Digital Banking customer number, PIN and password.
Your mobile phone – to get your one-time password.

How to apply:

(Please take notes or a picture of this, so you remember)

Log in to Digital Banking.
Choose ‘Loans’ (it’s under ‘Our Products’, bottom right).
You’ll return to our loans page.
Choose ‘Apply for a loan’.
Choose ‘Let’s start’ (under ‘Ready to apply?’).

Log in and apply

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Digital Banking, then return to our loans page.

What do you need to log in to Digital Banking?

You’ll need:

Your Digital Banking customer number, PIN and password.
Your mobile phone – to get your one-time password.

How to apply:

(Please take notes or a picture of this, so you remember)

Log in to Digital Banking.
Choose ‘Loans’ (it’s under ‘Our Products’, bottom right).
You’ll return to our loans page.
Choose ‘Apply for a loan’.
Choose ‘Let’s start’ (under ‘Ready to apply?’).

Log in and apply

Let’s get you signed up for Digital Banking

How to register for Digital Banking

Head to 'Register for Digital Banking.'
Enter your personal details. We’ll need details including your name, date of birth, sort code and account number.
We’ll show you your customer number on screen (you're making good progress at this point). Make a note of it as you’ll need it when you log in, in the future. If we don't need anything else from you you'll skip straight to step 7, but you may need to go to step 4, don't worry we'll let you know on screen.
We'll then send you an activation code. We'll send you your activation code in a text message. Or if we don’t have your phone number, we’ll send it through the post.
Go to the Royal Bank of Scotland website and click ‘login’ in the top right-hand corner, have your activation code to hand.
On the login page, type in your customer number and activation code.
Now you need to choose a password and PIN and commit them to memory. The PIN should be four digits long and your password can be between six and twenty characters, and contain both letters and numbers.
Done, finished, complete. Now you can manage your finances anywhere you can get online.

FAQs about our debt consolidation loans

How do debt consolidation loans work?

Overwhelmed with lots of debt in lots of places?

A debt consolidation loan could roll your debt into one monthly payment.

You'd get one bigger loan to clear your other debts – from credit card debt to an overdraft or other loans.

The pros of a debt consolidation loan:

It could be simpler to manage your money – you'll have just one monthly payment. (This is usually easier than juggling different payments that leave your account at different times.)
You'll pay the same amount each month – the interest rate is fixed, so it won't change. This helps you know where you are with your finances.
At the end of the loan, you'll have cleared this debt (as long as you keep up with repayments) – this could be easier to manage than an overdraft where it could be easy to stay overdrawn. Or credit cards, where it could be tempting to pay just the minimum each month and continue spending.
You'll often pay less each month – if you spread your loan over a number of years, your payments could cost you less each month.
You could save money - if the interest rate on your current debt is more expensive that the debt consolidation loan, the debt could cost you less.

The cons of a debt consolidation loan:

You're not debt-free. You've just moved your debt – you've replaced lots of different debt with one big loan. If you don't manage your money well, you could end up in even more debt.
Currently got a loan? There might be an early repayment fee – you could save money if your new loan has a lower interest rate. But if you're closing an existing loan, there might be an early repayment fee. So remember to include this in your calculations.
The loan could cost you more overall – you may pay less each month, but the total cost might be more expensive due to interest. This depends on your circumstances. Including how much your borrowing cost before, what your new borrowing rate is, and how long you borrow for.
You must pay back your loan in full each month – unlike a credit card, you can't just pay the minimum. You must pay all your monthly payment. If you don't, you could be charged a fine. It could also harm your credit score, which could make it harder to borrow in future.
You need to address why you got into debt - if you're struggling to stay on top of your debts, one large debt might be hard to pay back too. You might need to change your behaviour or circumstances to get debt-free for good.

Want help to get debt-free?

Get free confidential money advice

Is debt consolidation a good reason to get a loan?

A debt consolidation could help you seize control of your finances.

It could make things simpler as, rather than juggling lots of different debt, you'll just have one loan.

You'll also pay back the same amount each month at the same time, so it's easy to keep track.

Then – at the end of the loan – you could be debt-free.

But please take care...

A debt consolidation loan doesn't clear your debt. It just moves it.

To become debt free, you'd need to pay off this one bigger loan and not borrow anything else on top.

This often means you need to look at the reason you got into debt in the first place – and tackle this.

Want free, confidential money help?

If your debt is stressing you out, it could help to chat to debt experts.

We work with PayPlan who offer free independent debt help.

Get free money advice

Do debt consolidation loans affect your credit score?

Checking if you could get a loan from us won’t affect your credit score.

We just do a ‘soft search’. This won't show on your credit file.

If we say, ‘yes’ and you choose to apply, we’ll do a ‘hard search’.

This shows on your credit file and could affect your credit score for a short time.

Having a loan could help boost your credit score – or lower it.

You could boost your credit score – if you pay your loan back on time each month.
You could lower your credit score – if you don't pay back your loan on time each month.