Virgin Money personal loans review

You can borrow from £1,000 to £35,000 with a Virgin Money personal loan, and pay it off over up to 7 years.

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Virgin Money loan calculator

Name Product Total Payable Monthly Repayment Representative APR Link
Virgin Money Virgin Money Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.0% p.a. (fixed). Representative APR 3.0% and total payable £10,462.68 in monthly repayments of £290.63.
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Does Virgin Money offer loans?

Yes, Virgin Money branched out and launched its first unsecured personal loans in July 2020. Loans are offered for up to £35,000, with instant decisions and quick funding, as well as offering customer perks like access to Virgin Money lounges and Virgin Group discounts.

Key features of Virgin Money personal loans

Virgin Money personal loans are offered digitally, meaning you can apply, get approved and get funded entirely online within a couple of hours.

Virgin Money loans are available from £1,000 to £35,000, with loan terms of 1-7 years. The annualised percentage rate (APR) is 3.1% p.a. on loans between £7,500 and £15,000, and 3.2% p.a. on loans between £15,000 and £25,000.

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £35,000.00
Loan terms1 Year to 7 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Same day funding noteFor existing current account customers only.
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit

Am I eligible for a Virgin Money personal loan?

You’ll need to meet the following criteria to be eligible for a Virgin Money loan:

  • Be at least 18 years old
  • Have a good credit rating
  • Be a UK resident
  • Have a UK bank account
  • Have a credit or debit card

How do I apply?

You can apply for a Virgin Money personal loan online, and you’ll need to provide the following information as part of your application:

  • Your addresses for the last 3 years
  • The name of your employer, your income, and how long you’ve been working there
  • Your mobile number (for online and phone banking)
  • Information about your monthly spending, existing debts and liabilities

Pros and cons

Pros

  • Low rates
  • Flexible loan sizes
  • Quick approval and funding

Cons

  • Not available to those with bad credit

Frequently asked questions

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