National Westminster Bank, or NatWest, is one of the ‘Big Four’ clearing banks in the UK. NatWest is part of the Royal Bank of Scotland Group plc, whose other subsidiaries include Royal Bank of Scotland, Ulster Bank and Coutts.

NatWest was established in 1968 with the merger of National Provincial Bank, Westminster Bank and District Bank, represented in the coming together of the three chevrons in the NatWest logo.

NatWest now offers its customers a large range of financial products and services, including personal loans.

NatWest Personal Loan Overview

Key Features

  • You could borrow £1,000 – £50,000
  • Loan repayment terms from 2-10 years – you can repay the personal loan over 2-8 years, or an extended term of up to 10 years on loans for home improvements.
  • Fixed monthly repayments – the fixed interest rate means you’ll pay the same amount each month.
  • Personalised rate – you’ll pay a personalised interest rate. The rate you will pay depends on your individual financial situation and loan amount.
  • Representative APR 3.4% on loans between £7,500 and £19,950
  • Get a Quick Quote without affecting your credit rating – find out how likely it is that you’ll be accepted for a loan BEFORE you apply. See how much you may be able borrow, your personalised interest rate and your monthly repayments, with a ‘soft search’ that doesn’t affect your credit score.
  • Online decision in minutes – apply online or via the app. If you use Digital Banking, parts of your application form will be pre-filled, saving you time.
  • Funds the next working day – you could have your funds available the next working day, if you are a Digital Banking customer, apply before 5.55pm Monday – Thursday, and have your loan unconditionally accepted.


Understanding APR

APR is an abbreviation of Annual Percentage Rate. APR is a standardised way for lenders to show the annual cost of borrowing money. It includes the interest rate and other charges you must pay (for example any arrangement fee).

All lenders must calculate the APR of their products in the same way and must tell you how much the APR is before you sign an agreement. APR can, therefore, be a useful tool when comparing credit products.

One thing to bear in mind is the advertised APR is a representative APR.

Representative APR means over half the people who have taken a loan of a particular size from that lender have been given that rate. This means 51% of people have been given the advertised rate, but 49% of people could be paying more.

You will be given your own personal APR for your NatWest Personal Loan, based on factors like how much you want to borrow, over how long, as well as your financial situation and credit rating. Your personal APR may differ from the representative APR advertised.

What Can I Use A NatWest Personal Loan For?

There are many reasons people apply for personal loans – perhaps you want to borrow money for a once in a lifetime holiday or a new car for your expanding family, for example. You can apply for a personal loan to help cover a variety of costs, but should only apply if you are confident you can meet the repayment terms.

Some of the main purposes for a personal loan are:

  • Buying a New Car
  • Home improvements
  • Wedding
  • Holiday
  • Debt consolidation
  • To top-up an existing loan

You will be asked what the loan is for when you apply. If your loan is for more than one purpose, give the reason as the one which the majority (over 50%) of the loan will be used for.

While you can use your personal loan for most things, there are a few exceptions.

What Can’t I Use A NatWest Personal Loan For?

You can’t use the loan for:

  • Buying (or paying a deposit for) land or property
  • Household bills, rent or mortgage payments
  • Car tax
  • An annual holiday
  • Business purposes
  • Payments in arrears
  • Tax avoidance arrangements
  • Buying shares or other investment funds
  • Court or solicitors’ fees
  • Gambling


How Much Can I Borrow?

NatWest offers personal loans from £1,000 up to £50,000. The amount you may be able to borrow depends on your personal circumstances – you’ll be asked about your income and will answer questions about your current financial situation.

How Long Will It Take To Repay?

The length of time you can take to repay your loan (the loan repayment terms) depends on the loan amount and what it will be used for. The minimum loan repayment term for a NatWest personal loan is 2 years.

Loan Amount Terms
£1,000 to £7,450 2 to 5 years
£7,500 to £50,000 2 to 8 years
£7,500 to £50,000 for home improvements 2 to 10 years

I already Have A NatWest Personal Loan Already

You can still apply for a NatWest personal loan, even if you have one already. You may be able to top-up your existing loan or take out a new one. During the application process, NatWest will ask you what you’d like to do with your old loan – you have two options:

  1. Replace your existing loan with a new loan for a larger amount
  2. Take out a new loan and run two loans side-by-side

You should give careful consideration to the option you choose, taking into account the interest rates of each, the fees for early closure of your old loan, and the total amount repayable.

Beware: if you cancel your new loan in the 14-day cancellation period, NatWest is NOT obliged to reinstate your old loan. You may be offered a new loan, for the same amount as your old loan, at the current interest rates instead.


To apply for a NatWest personal loan, you must:

  • Be 18+
  • Be a UK resident
  • Have an existing NatWest current account (held for 3+ months) or have a NatWest credit card or mortgage (held for 6+ months)
  • NOT have been declared bankrupt in the last 6 years
  • Not have applied for a personal loan with NatWest in the last 28 days
  • Intend to use your loan for acceptable purposes


How To Apply

If you meet the eligibility criteria, you can find out if you’re likely to be accepted for a loan using the Quick Quote tool on the NatWest website. You’ll be told if you are highly likely, likely or unlikely to get a loan with NatWest.

The Quick Quote is a soft search. A ‘soft search’ allows you to see how much you may be able to borrow, the loan repayment terms and your personal APR, without having an impact on your credit rating. You will be able to see the search if you check your credit file, but lenders won’t.

The Quick Quote tool will ask you about your current financial situation and whether it is likely to change in the future.

You’ll be asked if you’re a homeowner.

You’ll also be asked about:

  • dependants (the no. of children or other people (e.g. elderly relatives), who are financially dependent on you)
  • employment status and net income
  • rent or mortgage payments
  • other essential expenditure like nursery fees, maintenance payments etc.
  • any outstanding loan repayments
  • balance on credit or store cards

After completing the Quick Quote, or if you’re sure you are ready, you can start your application online.

If you use Digital Banking, you’ll be asked to log in to your account and NatWest will pre-fill parts of your application. Otherwise, you will be asked for your NatWest account details.

You can also apply for a loan via the NatWest app, by phone or in-branch.

What Happens Next?

If your application is accepted – you’ll receive written confirmation in the next few days and a text within two working days when the funds are available in your account.

If NatWest need more information – NatWest will acknowledge receipt of your application within 5 working days. You might receive an email or text asking you to provide more information electronically, via their DigiDocs portal. Alternatively, you might receive an application pack in the post which you can respond to in-branch or by post.

If your application is declined – you might have tried to borrow too much over too short a period. You can use the Quick Quote tool to see if changing the amount or terms makes a difference. It won’t affect your credit rating.

Your personal loan may be declined if your credit history is not good enough, but there are lots of ways to improve your credit rating.


How Can I Improve My Credit Rating?

Every lender has its own criteria when they decide whether or not to give you credit, but generally, these things will improve your credit rating:

  • Paying bills on time
  • Paying for insurance upfront, rather than monthly
  • Being in the same job for a long time
  • Owning your own home
  • Living at the same address for more than a year
  • Keeping your address records up-to-date
  • Being on the electoral roll
  • Cancelling unused credit and store cards
  • Reducing your debts with savings



  • You can find out if you’re likely to be approved without affecting your credit rating, using the Quick Quote tool
  • It’s easy to apply online or via the app
  • If you use Digital Banking, NatWest will auto-fill parts of your application form for you, saving you time
  • You can usually get a decision in minutes
  • You could have the funds the next working day (if you use Digital Banking, apply and have your loan unconditionally accepted before 5.55pm on Monday – Thursday).
  • Fixed monthly repayments
  • Manage your loan online
  • You can repay your loan early, but you will be charged.



  • Your personal APR may be higher than the representative APR
  • Applying (and being accepted) is a fast process – make sure you’ve considered whether a personal loan is suitable for your needs and you can afford the repayments
  • You will be charged if you repay your loan early. You’ll pay 58 days interest (or the remaining number of days interest if there are fewer than 58 days left in the loan term) to close the old loan early.

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Company Details
  • Registration Number: 00929027
  • Incorporation Date: 1968-03-18
  • Status: Active
Loan Details
  • APR 3.4% Representative
  • Loan Amount £1,000 - £25,000
  • Repayment Duration 12 - 60 Months
Contact NatWest Bank Loan
  • via Phone: 08000 154212 Call
  • via Post: 250 Bishopsgate, London, England, EC2M 4AA