Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Clydesdale Bank personal loans review
Clydesdale Bank (now part of the Virgin Money brand) offers flexible and competitive personal loans of £1,000 to £35,000 to be repaid over 1 to 7 years.
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Important: Clydesdale Bank has now joined forces with Virgin Money. If you’re an existing customer, you can still manage your loan as normal. If you’re a new customer, you can take out a loan with Virgin Money.
What is Clydesdale Bank?
Established in Glasgow in 1836, Clydesdale Bank is one of Scotland’s largest banks, with 67 branches and a network of private banking centres. Along with Yorkshire Bank, it is part of the independent banking group CYBG PLC.
In October 2018, both Clydesdale Bank and Yorkshire Bank were taken over by Virgin Money and now operate as part of the Virgin Money brand.
Virgin Money personal loans are only available to existing customers who have a Virgin Money current account or are a Clydesdale Bank or Yorkshire Bank customer. You’ll need to have a good credit rating to be considered. If you’re approved for a personal loan with Virgin Money, it acts as a lender, not a broker – you’re borrowing from it directly.
What can a Clydesdale Bank loan be used for?
An extra financial boost could help you pay for home improvements, a wedding or the holiday of a lifetime. Paying a large amount at one time can be difficult, but Clydesdale Bank can help you pay the money back over a set period with a competitive and flexible fixed-rate personal loan. It’s quick and simple to apply online at the Clydesdale Bank website.
What is APR?
If you’re comparing any credit-based products, it won’t be long before you come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the loan’s cost. It takes into account both interest and any mandatory charges to be paid (for example, an arrangement fee) over the loan’s duration.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.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
How do Clydesdale’s personal loans compare against the competition’s?
Table: sorted by representative APR, promoted deals first
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’re likely to pay for your loan each month and overall.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Am I eligible for a Clydesdale Bank personal loan?
You should only apply for a Clydesdale Bank personal loan if you’re certain you can meet the repayment terms. You must also:
- Be aged 18 or over.
- Have a permanent UK address.
- Have a good credit history.
- Have a UK bank account.
- Have a debit and/or credit card.
How can I apply?
New customers can make a loan application with Virgin Money.
You need to provide:
- Address details for the last 3 years.
- Current employer details, including telephone numbers.
- Your phone number.
- Monthly income details (after tax).
- Monthly outgoings (mortgage, finance agreements, other debts).
- Credit/debit card details – these are used to verify your identity.
If you are self-employed, you will be asked to provide 3 years of accounts (or 2 years with a 3rd year projected by an accountant).
Clydesdale Bank customer reviews
Clydesdale Bank has received mostly negative reviews from customers, according to review site Trustpilot. It currently has a rating of 1.2 out of 5, based on over 330 reviews (updated July 2023). Some customers cited poor customer service and delays in their reviews.
Frequently asked questions
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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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