Bank of Scotland is part of the huge Halifax Bank of Scotland (HBOS) group – now one of the UK’s largest financial institutions. In fact, since the merger of building society Halifax and the Bank of Scotland, the two brands have offered very similar product lines, including loans products. At present our research shows that there’s is nothing to choose between Halifax and Bank of Scotland loans – they’re basically the same product.
A Bank of Scotland loan lets you borrow from as little as £500 up to a maximum of £25,000. If you want to borrow more (or less) than this you’ll need to choose the “Compare” channel on this page.
You can apply for a Bank of Scotland personal unsecured loan online, in most cases receiving an instant decision. Whilst the credit acceptance criteria isn’t as tight as some, our data still shows that over 85% of online applications to “high street” lenders are rejected*, so you may want to make other applications (use our “Compare” channel to find other suitable lenders and apply online). You can use a Bank of Scotland loan for anything including consolidating existing debts, home improvements or a new car. Homeowners and tenants can apply but you need a very good credit history to qualify.
*Source: LoanExpert data, April-July 2006