Loans and Borrowing – typical concerns – FAQ – RBS

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Typical questions

Who is able to submit an application for an Royal Bank of Scotland unsecured loan?

You need to be: 18+ and A british resident with either a Royal Bank of Scotland account that is currentheld for 3+ months), charge card or mortgage (held for 6+ months).

It is possible to connect with borrow any quantity from ??1,000 to ??50,000.

Additionally it is good to learn our prices are exactly the same for brand new and existing customers.

Icon expand What may I borrow funds for?

You are able to borrow for virtually any function. If you are about to utilize the loan for longer than one function, select the purpose simply which will use up significantly more than 50% associated with the loan. For instance, in the event that you’re borrowing ??11,000 split between automobile for ??6,000 and home improvements for ??5,000, you ought to pick ‘Car’ while the intent behind your loan. If no purpose that is single for 50% or maybe more for the loan, please choose the function that defines the primary reason for the borrowing.

Symbol expand How soon am I going to receive my cash?

Already an electronic digital Banking client? The cash could possibly be in your bank account the following day that is working. For this, you??™ll need certainly to use online, enter your web Banking details and satisfy our credit demands.

Even though you’re perhaps not registered for Digital Banking, you are able to still apply online. Susceptible to contract, we are going to deliver your articles by post, these typically arrive within 3-5 times. Merely check, sign and get back the papers to us. The funds could possibly be in your account within 2 days, supplied your application is prosperous.

Icon increase What may I add as “income” when finishing the program form for my online loan?

You ought to mount up your entire earnings that are monthly. You can add: – Salary (after taxation) – retirement – impairment residing Allowance

You could consist of: – Court-agreed kid upkeep – long-lasting city, housing, or move allowances from your own company – kid Tax Credit – performing Tax Credit (whether it’s not already incorporated into web wage) – Under ‘Other monthly earnings’ you can add kid advantage, any kind of state advantages and just about every other internet (after taxation) regular earnings you obtain.

In the event that you declare earnings that is not shown in your Royal Bank of Scotland present account, we possibly may require extra confirmation.

Icon increase what are the results as soon as We have used online?

Following your internet distribution:

– we are going to print the mortgage contract and send it for you when we are able to (usually the following day time).

– when you get your agreement, please indication and date it where specified and deliver it back into us when you look at the envelope offered. Whenever we’ve expected for confirmation of identification, earnings or other papers, please make sure to enclose the initial papers. We shall get back these for you.

If we’ve received your agreement that is signed most of the supporting documents we asked for), we shall often process the job within two business days. Nevertheless, we might have to contact one to simplify details in the application – in that case, we are going to mobile or compose for you within two days that are working.

If we’ve prepared your entire papers, we are going to transfer your loan funds to the Royal Bank of Scotland account that you have specified on the application.

Take note: the application continues to be an understanding in theory (in place of our decision that is final we’ve completed our credit evaluation procedure. We might should also contact you for more information to aid the job. Should this be more likely to impact our decision that is final or timing of y our ultimate decision, we are going to contact one to tell you.

If you want to talk to somebody regarding your application

On the number below if you have submitted an online application for a personal loan and would like to enquire as to the status of your application, please call us.