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 are now operate as part of the Virgin Money brand.
Clydesdale Bank personal loans are available to new and existing customers, although you’ll need to have a good credit rating to be considered. If you’re approved for a personal loan with Clydesdale Bank, it will act 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.
Key features of Clydesdale Bank personal loans
|Loan type||Unsecured Personal Loan|
|Loan amounts||£3,000.00 to £25,000.00|
|Loan terms||1 Year to 7 Years|
|Loan rate type||Fixed|
|Same day funding available|
|Instant decisions in most cases|
|Soft-search facility available|
|Overpay without penalty|
|Concurrent loans allowed|
|Topping-up pays off existing loan and initiates a new loan|
|Repayment methods||Direct Debit|
Terms of 6 or 7 years may be offered on loans over £7,500 depending on your credit rating. Interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors such as the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
What is 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.
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?
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’d be likely to pay for your loan each month and overall.
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?
Fill in the simple application form online, or call a Clydesdale Bank advisor.
You will need to provide:
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 will perform a credit check and provide you with a quick decision, usually within 2 working days.
Once the signed documents have been received and checked, the funds should be in your account within 5 working days.
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 260 reviews (updated July 2022). Some customers cited poor customer service and delays in their reviews.
Frequently asked questions
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