Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall. We base our calculations on Bank of Scotland’s representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you’re offered.
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyBefore you take out a personal loan, it’s smart to read up and shop around. If you’ve been on the Bank of Scotland site to get a quote on your loan, find out how much you’d be likely to pay for the same loan from some popular lenders:
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodology| Loan amount not specified | |
| Loan terms | From year to years |
|---|---|
| Age eligibility | Age eligibility not specified |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
Interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
Lenders are only obliged to award their advertised APR to 51% of people who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
You should only apply for a Bank of Scotland personal loan if you meet the following criteria:
For its personal loans, Bank of Scotland exclusively take applications online through their website. You have to be an existing online banking customer, so you may also need to set up your bank account with an online log in.
For any queries regarding personal loans, you can call Bank of Scotland on 0345 604 7291. Lines are open Mon – Fri from 8am to 8pm, and Sat – Sun from 9am to 6pm. Alternatively, you can message customer support through the Bank of Scotland app.
A lender with over 400 years of banking experience, Bank of Scotland is a trusted name on the UK high street. Since being taken over by Lloyds in 2009, the bank has been paired with Halifax as “HBOS” and has been expanding its range of banking services. Not to be confused with the Royal Bank of Scotland (RBS), Bank of Scotland still have the power to issue Scottish banknotes and are responsible for those cool Scottish notes that are definitely legal tender!
Bank of Scotland’s mantra, to make payments easier, means that getting those home renovations done or consolidating previous debt needn’t mean having the extra burden of managing a complicated loan. The only catch? You need to be an existing customer to apply.
In terms of customer reviews, the Bank of Scotland currently has a “bad” rating of 1.7 out of 5, based on over 6800 reviews, according to TrustPilot (updated May 2024). Many customers cited poor customer service and issues with their online services.
The results of the Finder Customer Satisfaction Awards 2025 are in, and the winner of the personal loans category has been decided.
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Looking for a personal loan? Read the definitive guide to find out how to compare interest rates, fees and features to find the right loan for you. There’s a range of loans available to apply for – we’ll help you find the right one.
Compare live rates, fees and eligibility criteria from a range of lenders to get the right loan for your needs at the lowest overall cost.