In the hunt for a personal loan that you can use for a wide variety of purposes? You can have this and more when you get a loan from NatWest. This bank offers loans for various personal reasons. Want to know more? Read on to find out the best option for you.
NatWest Online Personal Loan Features and Benefits
The NatWest Online Personal Loan gives you the chance to get funds for buying a car, home improvements, debt consolidation, vacations and even for your wedding. Should you find your funds lacking even after the loan is approved, you can top up by opening a new loan whilst keeping your current one, or by replacing the current loan with a bigger one.
Just take note that you cannot use this loan for buying property, car tax, paying utility bills, rent or mortgage, business, arrears, tax avoidance, court or solicitor’s fees, buying shares or other financial instruments, as well as gambling.
Getting a NatWest Online Personal Loan
If you decide to get this loan head to the NatWest website, make sure that you are eligible for this offer. First, you can go ahead and apply only if you are 18 years old or older. Moreover, you must be a UK resident holding a current account (for 3 or more months), credit card or mortgage (for 6 or more months) at NatWest. For a successful application, make sure that you haven’t declared bankruptcy in the past 6 years.
During your application, you are free to choose a loan amount and term. You can borrow money from GBP 1,000 to GBP 50,000. However, keep in mind that loans have varying terms such as 1 to 5 years (for GBP 1,2000 to GBP 7450), 2 to 8 (for general loans of GBP 7,500 to GBP 50,000) and 2 to 10 years (for home improvements loans of GBP 7,500 to GBP 50,000).
NatWest Online Personal Loan Fees and Charges
If you are worried about your expenses, you will be glad to know that this convenient loan also takes it easy on your wallet. The representative annual percentage rate for this loan is 3.4%. You can enjoy this low rate if you get a loan ranging between GBP 7,500 and GBP 19,950. So, say you chose to pay your GBP 7,500 loan over 2 years, you will enjoy a monthly repayment will be GBP 323.52 and a total repayable amount of GBP 7,764.48.
Should you go under or beyond this range, you will get an APR no greater than 29.9%. What’s great about this loan is that the loan term you choose does not affect the APR. With the fixed interest rate of 3.4% per annum. To know how much you are going to pay for your desired amount and term, check out NatWest’s loan calculator.
Getting the financial help just when you need it is one of the best characteristics of the NatWest Online Personal Loan. To start your application process, use their online application method or you can simply get in touch with them via phone or branch visits.