finance for you

A loan could be a useful way to help cover the cost of a large expense.

Coutts beta Loans could be used to borrow £1,000 on a sole basis over an agreed term, between 2 and 10 years.

You need to be over 18 and a UK resident to be able to apply for a loan online.

Representative 3.8% APR.

This rate is available for loans of £1,000.

Representative example:

  • Borrowing amount £1,000
  • Over 60 Months
  • Monthly repayments £18.29
  • Total repayment £1,096.90
  • Representative 3.8% APR (Annual Percentage Rate)
  • Interest rate 3.7% p.a. (fixed)

 

Credit subject to status. Exclusions may apply.

It doesn’t take long to apply for a loan and, should your application be approved, we will send documents out to you using our online service.

You will have 14 days to withdraw from the agreement. If you do wish to withdraw from your loan during this time you must repay, no later than 30 calendar days after giving notice of withdrawal, the total loan amount (this is the amount we paid into your account) and the daily interest that we charge, both can be found in the Loan Agreement.

We may conduct hard credit searches as part of your application should your application be reviewed. We may also use and share your information with credit reference agencies if your application requires validation. All applications are subject to status and assessment.

 

fixed rate loan

Credit subject to status. Exclusions may apply.

A fixed rate loan is where the interest rate stays the same throughout the term of the loan. This means that your repayments also remain the same each month (but may change if you miss payments or change your repayment date).

 

what features can you apply for digitally?

For all digital applications, we only offer new loans. This means that if you want to make any changes to an existing loan then please contact Coutts beta 24 on 020 7957 2424.

By proceeding to apply for a loan digitally, the following features will apply:

  • We only offer Sole Loans
  • All loans are on a repayment basis, and payments are collected monthly
  • We only offer a Fixed Rate Loan
  • The maximum term you can apply for is 10 years

loan calculator

Please be aware that due to limited functionality, you are only able to borrow £1,000. Our loan calculator will give you an idea on the interest and monthly payments, with no impact on your credit score.

For the staff test and learn, with Coutts beta loans

  • No charges on early repayments.
  • Borrow £1,000, depending on your circumstances.
  • Borrow for a minimum of 2 years up to a maximum of 10 years.
  • Receive your funds within 2 working days.

Please note, our loans should not cover deposits for a property purchase, household bills or rent or mortgage payments; car tax; business purposes; payments in arrears; tax avoidance; court or solicitors fees; gambling; buying shares, debt consolidation or investments.

 

applying for a loan

BANKING WITH US?

You can log in to apply for a loan with us.

Go to More, then Apply for new products.

 

 
APPLY NOW
 

new customer

You'll need a Coutts beta bank account to have a loan with us.

 

 
see our bank account
 
 

FAQS

understanding loans

A personal loan is an arrangement to borrow money over a fixed term. You will then repay the loan back, with interest, in monthly instalments for the length of the loan.

  • Have a Coutts beta account
  • Are aged 18 or over
  • You are resident in the UK
  • You are in paid employment, or have a regular income
  • You do not have a history of bad credit (County court judgements or defaulting on debts)

Loans can be taken out for a number of reasons such as buying a car, home improvements, household goods, going on holiday, wedding, or need extra cash to cover an unexpected emergency. However, we do not lend for the purposes below:

  • Buying or putting down a deposit on a property, static caravan or land
  • Household bills, rent or mortgage payments
  • Debt consolidation
  • Car tax
  • Business purposes
  • Tax avoidance arrangement
  • Payment in arrears
  • Gambling
  • Buying shares or other investment funds
  • Land refinancing purposes
  • Any illegal purposes

You must submit an application through our digital services and receive approval from Coutts beta to get a loan. After approval, you will receive a lump sum based on your approved amount. You will then repay the loan back, with interest, in monthly installments for the length of the loan.

The interest rate of your loan is personal to you and will depend upon a number of factors including the amount borrowed, the term of the loan and your personal circumstances. To find out how much your loan will cost you can get a personalised quote by applying for the loan online, which won't affect your credit rating. This puts you under no obligation to proceed with the loan but will enable you to see how much you could borrow and what it may cost.

You could borrow as little as £1,000 for a fixed rate loan and a maximum of £150,000 through the digital journey (subject to application and status). 

Having a CCJ or having been declared bankrupt may prevent you from applying for a Loan, we will assess your application.

We will assess your application based on your circumstances; we may require further information.

 

There are no arrangement fees or other charges on a Coutts beta Loan.

With a secured loan, Coutts beta will ask for something such as your home as security, in case you can't pay the loan back. Our loans are unsecured, so you're not asked to provide anything as security and is available to apply for digitally.

Coutts beta Loans have a fixed repayment term. Credit cards often have higher variable rates that may change from time to time and have no set repayment term.

APR stands for Annual Percentage Rate. APR is a way that lenders show the interest and additional charges you will pay on what you're borrowing. A representative APR is an advertised rate that is presented in a standard way. It allows you to compare and contrast borrowing costs between different lenders.  When a representative APR is promoted, it means at least 51% of people take out a loan of a particular size from a lender who will be given this rate or lower.

Things to keep in mind about representative APRs:

  • They change depending on the loan amount
  • Just because a lender has a low or high representative APR, it doesn't mean they'll offer you the best rate
  • The rate you're offered won't necessarily be the same as the representative APR.

applying for a loan

For a minimum term of 2 years and maximum term of 10 years digitally. 

If you have a Coutts beta current account and your application was approved, you will then receive documents through our online e-sign service, once this has been signed and returned, you will then receive the funds within 2 working days.

Should your application be approved, you will receive your funds after you have signed and returned the loan agreement. If your application is being reviewed, you will be notified with next steps.

If you have applied for a loan, your application is currently under review and you may be required to provide further information to support your application, you will be notified.

You may need to provide basic employment and income information to apply for a loan. Once we receive the application, we will determine if any additional information is required.

managing your loan

Currently, you cannot borrow more on an existing loan. 

Yes, you can pay off your loan early. Please call Coutts beta 24 on 020 7957 2424 to make overpayments on your loan with no early repayment charges.

Your monthly payment is a combination of principal and interest divided evenly into monthly installments over the term of your loan. If you are unsure of what your payment amount is, it is available as part of your account details in your online or mobile banking profile. Your monthly payment will also be referenced in your loan agreement. Full details will be in your Loan Agreement.

Your loan will be available to view on your banking app/online banking profile. Details of your loans are also available in your loan agreement.

You have 14 days to withdraw from the agreement. If you do wish to withdraw from your loan during this time you must repay, no later than 30 calendar days after giving notice of withdrawal, the total loan amount (this is the amount we paid into your account) and the daily interest that we charge, both can be found in the Loan Agreement.

Your loan repayments are taken monthly by Direct Debit from your nominated current account.  If you need to change the account, we take the funds from, please contact Coutts beta 24.

If you wish you make an overpayment, please contact Coutts beta 24 .

If you are unable to make a loan payment on time, please contact Coutts beta 24.

We are committed to tailoring your support to your personal needs. Please contact Coutts beta 24 on 020 7957 2424 for further assistance.