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Common questions

About our loans

Applying online

How will we evaluate your application?


Who can apply for a NatWest personal loan?

You’ll need to be:

  • Aged 18 or over
  • An existing NatWest current account customer
  • Have a regular income
  • Have managed previous financial commitments without any problems (for example, no history of adverse credit such as outstanding CCJs or bankruptcy)

You can apply to borrow any amount from 1,000 to 25,000.

It’s also good to know that our rates are the same for new and existing customers.

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How soon will I receive my money?

Already an online Banking customer? The money could be in your account the next working day. To do this, you’ll need to apply online, enter your online banking details and meet our credit requirements

Even if you’re not registered for Online Banking – you can still apply online.

Subject to agreement, we’ll send your documents by post – these typically arrive the next working day.

Simply check, sign and return the documents to us. The funds could be in your account within two days, provided your application is successful.

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How long can I take to repay the loan?

For loans under 15,000, your maximum loan term is five years. And for loans between 15,000 and 25,000, you can borrow over a maximum of seven years.

However, if you're borrowing over 2,500 for home improvements, you can take the loan over 10 years.

No matter how much you borrow, the minimum borrowing term is one year if you have a NatWest current account.

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Do you charge arrangement fees?

No - we don't charge arrangement fees for our online personal loans.

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What can I borrow money for?

You can borrow for almost any purpose. If you're planning to use the loan for more than one purpose, simply select the purpose that will take up more than 50% of the loan. For example, if you're borrowing 11,000 split between a car for 6,000 and home improvements for 5,000, you should select 'Car' as the purpose of your loan. If no single purpose accounts for 50% or more of the loan, please select the purpose that describes the main reason for the borrowing.

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What options do you have for Students and Graduates?

We offer special options for Students and Graduates

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What is the lending code and are your loans covered by it?

The lending code covers various products including our Personal loans. It outlines our responsibilities to you, your rights, and where you can get further information or complain.Download a Guide to Lending Code leaflet.

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Applying online

How quickly can I get a decision?

We can usually give a decision straight away online. Even better, if you’re a NatWest online banking customer and you enter your details when applying then – if you meet our credit requirements – the money could be in your account by the next working day. Please note that where an 'agreement in principle' decision is given, this remains subject to the completion of our full credit assessment process.

In some cases we may need to refer a decision, in which case it may take longer.

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Is a quote you have given me online then available in branch or over the phone?

No - an online quote is only valid for an online application. Any quote you are given is only valid if you go on to apply online. Different rates may apply in a branch or if you apply over the phone. Lines are open between 8am and 8pm Monday to Friday or 10am to 6pm Saturday except for public holidays. Minicom users please dial 0800 404 6161. Calls may be recorded. Rates may vary if you apply online.

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What can I include as "income" when completing the application form for my online loan?

You should add up all your monthly earnings. You can include:

  • Salary (after tax)
  • Pension
  • Disability Living Allowance

You can also include:

  • Court-agreed child maintenance
  • Long-term town, housing, or shift allowances from your employer
  • Child Tax Credit
  • Working Tax Credit (if it's not already included in net salary)

Under 'Other monthly income' you can include child benefit, any other state benefits and any other net (after tax) regular income you receive.

If you declare income that's not shown on your NatWest current account, we may ask for additional confirmation.

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I'm having problems with the online application. What should I do?

  • NatWest Advantage Gold or Black Account customer, please quote L21 when you call
  • Select Account or NatWest Current / Current Plus customer, please quote L20 when you call

Please call 0800 24 34 06. Minicom: 0800 404 6161

Lines open Monday to Friday 8am to 8pm, Saturday 9am to 6pm (excluding public holidays). Calls may be recorded.

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How secure is my online application?

The information you submit online is very secure. All information submitted during the application is protected by strong security techniques, including 128-bit encryption.

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How can I sign online to receive my loan funds the next day?

This option is open to our existing NatWest online banking customers who enter their login details when applying for a personal loan online.

As you go through the online application, if you meet all of our credit requirements, have your loan application accepted and are eligible a screen will appear which will offer you the choice of completing your loan application online or via the usual paper-based route. If you choose to complete your loan application online then you will be shown your loan documentation and asked to sign your agreement electronically by checking a tick-box to confirm you agree to be bound by the terms and conditions of the agreement. Your application is then complete.

The next day money facility is available to those customers who apply between 6.30am and 5.55pm Monday to Thursday (excluding public holidays). For customers who meet all of our credit requirements, have their loan application accepted, are eligible and choose to complete their loan documentation online, the loan funds will be available the next working day from 9.00am.

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What happens once I have applied online?

Following your online submission:

  1. We'll print the loan agreement and send it to you as soon as we can (usually the next working day).
  2. Once you receive your agreement, please sign and date it where specified and send it back to us in the envelope provided. If we've asked for confirmation of identity, income or other documents, please be sure to enclose the original documents. We will return these to you.

Once we've received your signed agreement (including all the supporting documents we requested), we will usually process your application within two working days. However, we may need to contact you to clarify details in your application - if so, we'll phone or write to you within two working days.

Once we've processed all your documents, we'll transfer your loan funds into the NatWest account that you've specified on your application.

Please note: your application remains an agreement in principle (rather than our final decision) until we've completed our credit assessment process. We may also need to contact you for further information to support your application. If this is likely to affect our final decision or the timing of our final decision, we'll contact you to let you know.

If you wish to speak to someone about your application

If you have submitted an online application for a personal loan and would like to enquire as to the status of your application, please call us on the number below.

Please call 0845 30 30 299. Minicom: 0800 404 6161.

Monday to Friday 8am to 8pm, Saturday 9am to 6pm (excluding public holidays). Calls may be recorded.

If you're experiencing technical difficulties with your online application, please call us on 0845 605 0789. Minicom 0800 917 0527.

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How will we evaluate your application?

What is credit scoring and why do lenders use it?

Credit scoring is used by many lenders to help them make credit decisions. It is used to assess applications for certain credit products and to open accounts where credit is required.

It is a proven technique which allows the lender to predict the likelihood of credit being satisfactorily repaid. Credit scoring is widely recognised as one of the most consistent, accurate and fair forms of credit risk assessment.

We calculate your credit score using the following types of information:

  • Information that you provide during the application process
  • Credit reference information, such as whether you have kept your payments on your credit accounts up to date or whether you have been in arrears
  • Any existing or past account performance with us, such as previous loans

The credit scoring system allocates points for each piece of relevant information and these are added up to produce a score. Provided your score reaches a certain level and meets our other policy requirements we will generally agree to your request. In order to protect the integrity of our systems, the way we calculate your credit score must always remain confidential.

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Why may my application be declined?

In general your application can be declined for two reasons:

  1. A scoring decision where your overall score was not sufficient to reach our acceptance pass mark
  2. Specific lending policies. As a responsible lender it is not our policy to offer credit to applicants who may find it difficult to meet the repayments. You will always be advised of the reason where your application has been declined due to a policy rule. We would stress that if your application is declined it may not be due to information supplied by the Credit Reference Agency but rather due to other details obtained during the application process

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What is a credit reference agency?

Credit reference agencies keep records on individuals. These records help lenders assess credit applications. The records include information such as:

  • Electoral roll status
  • Bankruptcies and insolvencies
  • County court judgements or court decrees
  • Many lenders provide information on the performance of previous and existing credit accounts
  • Details of previous credit reference searches carried out by other organisations
  • Names of people you’re financially associated with

The main credit reference agencies in the UK are Equifax Plc, Callcredit Plc and Experian Ltd.

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Can I check the information held about me by a credit reference agency?

You may write to the agencies for a copy of your file, enclosing the statutory fee of 2. The three main agencies are:

  • Equifax Plc, Credit File Advice Service, PO Box 3001, Glasgow G81 2DT
  • Experian Ltd, Consumer Help Service, PO Box 8000, Nottingham NG51 5GX
  • Callcredit Plc, Customer Service Team, PO Box 491, Leeds LS1 5XX

As well as giving information about you, the file will also provide the names of people with whom you are financially associated.

When you apply for a copy of your file, the Credit Reference Agency will tell you what to do if you feel you file contains any inaccurate information.

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Could I have been declined just because of the area in which I live?

No, such practices are illegal.

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I have other credit accounts with you, why have you refused my request this time?

Your individual circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.

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I have other credit accounts with you, why have you refused my request this time?

Your individual circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.

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Do you take into account credit reference information against my family or any other person?

Only if a financial association has been created at the Credit Reference Agency between you and a family member or other person – for example, if you have made a joint application or if you have declared an association directly to the credit reference agency.

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Can I be refused credit because of the credit history of the previous occupants at my address?

No. Unless you are financially associated with the previous occupants, their credit history will not be used in assessing your application.

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Can I re-apply?

Your circumstances can change over any given period and we will be pleased to consider a new application from you in due course. However, if your circumstances have not changed since your last application it is unlikely that our decision will change. We will not refuse any application just because we have declined a previous one.

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Can I appeal against your decision?

Yes, although we cannot give any assurances that our original decision will be overturned. You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.

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Will the fact that you have declined me mean that other lenders will automatically decline me?

No, each lender's experience and credit scoring system are different. The Credit Reference Agency used will, however, record the fact that we carried out a search against you and advise any other lender you apply to, who uses their service, of this fact.

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Do you offer insurance which will help cover my monthly repayments if something unexpected happens, such as if I was unable to work due to accident or sickness or if I was made involuntarily unemployed?

NatWest do not currently sell an insurance product which will provide you with cover for all of these. However, it is important that you consider how you would meet your monthly repayments if any of these were to happen to you. We continue to offer a range of other protection products, such as Life Protector, Critical Illness and Income Protection via our Financial Planning Managers.

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What if I am having trouble meeting my repayments?

Treating you fairly when you cannot pay your loan

If you are having trouble paying your loan, we will treat you fairly. We will:

  • contact you as soon as possible to discuss your problem;
  • talk to agencies who give advice (for example, Citizens’ Advice) and are acting on your behalf if you want us to;
  • give you a reasonable time to pay back the debt; and
  • only take further action, if we cannot solve the problem with you.

We might be able to:

  • change the way you make your payments or the date you make them;
  • arrange a new payment plan with you taking your and our interests into account;
  • allow you to pay back your loan over a longer period of time (which could reduce your monthly payments). This may increase the total amount you pay back; or

If we cannot do any of these things, we will tell you why. If we can make one of these arrangements with you, we will explain how it would work and give you an agreed period of time to consider it first.

What you can do to help:

  • Tell us as soon as possible if you are having problems repaying your loan, or anticipate having problems.
  • Get in touch with us quickly if we try to contact you.
  • Keep to the payment plan we agree with you. If you do not make the payments, we might have to go to court to get back any money you owe us.
  • Check whether you can get any state benefits or tax credits.
  • If you have an insurance policy, check whether it would help with your payments.
  • Tell us if you move to a new address or change your phone number.

For further information about managing your finances or dealing with debt, please read our Dealing with Financial Difficulty guide.

30 Day 'Breathing Space' Commitment

As part of our commitment to help borrowers struggling to repay their debts, we will provide 30 days ‘Breathing Space’ during which time we will suspend any collection activity, providing:

  • A not-for-profit debt advice agency has been engaged and;
  • They formally notify us that you are in serious discussions with them to agree a repayment plan

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