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Debt consolidation loan

Take control of your finances with a debt consolidation loan

Representative 3.9% APR

How to consolidate debt with a personal loan

If you're looking to pull everything you owe into one place, a debt consolidation loan could help. 

A debt consolidation loan could be used to pay off existing credit cards, store cards, overdrafts and other personal loans. 

You could consolidate all your debt into the one personal loan and only have one payment to make each month. 

Remember, taking on any new debt is a big decision; extending the term of your debt can incur more interest and cost more in the long run and sometimes an early repayment charge may apply. 

Borrowing terms for a debt consolidation loan

This is the length of time your personal loan agreement is in place for. Our minimum and maximum terms for certain loan amounts are shown below.

Debt consolidation loan calculator

Home improvement loans are available over an extended term, up to 10 years.

How much would you like to borrow?

How long would you like to repay?

20 Months

Representative Example

Borrowing

£7,500

Over

0 months

Monthly repayment

£137.55

Total repayment

£8,253.00

Representative

3.9

% APR

(Annual Percentage Rate)
Interest rate

3.9

% p.a.

(Fixed)

The rate you pay depends on your circumstances and loan amount and may differ from the Representative APR. We will never offer you a rate exceeding 29.9% p.a. (fixed), regardless of loan size. This means you're not guaranteed to get the rate you see in the calculator.

Take a break, with a loan repayment holiday

When you apply for a loan, based on your circumstances, we might give you the option to defer your first repayment. 

  • It's only available at the start of your loan term
  • You can defer your first loan repayment for a three month period
  • If this option is available, we'll show the details of your repayment holiday at the quote stage of your application

What to know about a debt consolidation loan

Benefits

Keep your credit score safe while getting a quote

If you have a NatWest current account, in most cases we'll confirm the loan amount and your rate at the start of your application with no impact on your credit score. Nice and handy.

You could get your loan on the same day

If you use Online Banking, apply and are unconditionally accepted before 5.45pm Monday to Friday you can get your loan on the same day after 6pm. Sometimes we need to contact you for more information, so it can take a little longer.

You could repay your loan early, if you want

If you find you have a bit more money in your account you might decide to repay your loan early. It's important to remember that you will pay an early repayment charge.

Mobile App features

Manage your loan in the mobile app

View your credit score for free

Tips to manage debt

Write it down

Make a note of all your current debt. Understand any outstanding balances, interest rates and any early repayment charges.

Compare your borrowing options

Think through all your borrowing options. A credit card or an overdraft might be a better option for you than a loan, so take a look at our helpful ways of borrowing guide.

Other ways we can help

Check if you're likely to be approved

Find out if you're likely to be approved for a debt consolidation loan at the start of your application. If you have a NatWest current account, in most cases we'll confirm the loan amount and your rate with no impact on your credit score.

Is a debt consolidation loan right for you?

There are lots of options when it comes to borrowing money. Take a look at our borrowing options guide to help you figure out what type of borrowing will best suit your needs. 

Let's get ready to apply

Before you apply, we need to check you're happy with a few things.

First, you can apply online if you:

  • are 18+ and a UK resident with a NatWest current account (held for 3+ months).
  • have not been declared bankrupt in the last 6 years
  • have not applied for a personal loan with us within the last 28 days

Now please read a few other important things:

Ready to apply?

Do you have NatWest online banking?
If you know your online banking details we can pre-fill some of your info - making the application process faster.
Are you applying on your own?

Great, let's get started!

Just a heads up - you'll need your Online Banking login details at the next step.

Great, let's get started!

Just a heads up - you'll need your Online Banking login details at the next step.

Let’s get you signed up for Online Banking

You’ll need to sign up for online banking with us in order to apply for a loan. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your NatWest Debit Card, if you have one.

 

Once you’ve registered, select ‘next’ to log in and apply for a loan.

Are you applying on your own?

Fantastic, you're all set!

Just a heads up – you’ll need your online banking log in details at the next step.

Fantastic, you're all set!

Just a heads up – you’ll need your online banking log in details at the next step.

Something else we can help you with?