Clydesdale Bank Personal Small Loan

Good:
Interest rates are fixed for the term of the loan so your repayments never change

Bad:
They will try and push their Payment Protection Insurance on you, don't feel obliged to take it

Verdict:
Clydesdale Bank current account customers only - the less you borrow, the higher the interest rate will be but don't be tempted to borrow more - only borrow what you need

Clydesdale Bank offer smaller, unsecured, personal loans between £1,000 to £7,499 for most purposes. Early repayment options are available at no extra cost. They do offer Payment Protection with their loan but do not feel obliged to take it. If you are interested in Payment Protection, have a look around elsewhere because you will probably be able to find it cheaper.

You can apply online if you're already an online customer with Clydesdale or over the phone. If you're not, you can apply in branch. After you have completed your online application, they will give you a reference number (note this down somewhere). They will then contact you via email within 2 business days informing you of their decision. Once you have been accepted, a letter and your loan agreement will be posted to you. Read through it carefully and sign it. When received by Clydesdale, they will fully assess your application and make a final decision. If accepted, they should pay the money out within 3 - 5 working days.

Clydesdale offer payment holidays at the start of the loan. If you have chosen to pay your loan back weekly then you can defer your first payment by 14 days. If you are paying monthly you can hold the first payment off until the 56th day of the loan, this gives more freedom with your payments. However, many customers don't like the fact that there aren't many branches about, this means most problems have to be dealt with over the phone. The APR can also be quite high. There are a few complaints on various comparison forums that seem to question their customer service as well. You can expect normal bank charges, such as failed direct debits, for missed payments.

You can apply online or over the phone with Clydesdale if you're an existing customer, if you're not you can visit a branch. After you have completed your online application, they will give you a reference number (note this down somewhere). They will then contact you via email within 2 business days. Once you have been accepted, a letter and your loan agreement will be posted to you. Once signed, sent back and received by Clydesdale, they should pay the money out within 3 - 5 working days.

Clydesdale offer payment holidays at the start of the loan, if you have chosen to pay your loan back weekly then you can defer your first payment by 14 days. If you are paying monthly you can hold the first payment off until the 56th day of the loan, this gives you more freedom with payments. However, many customers don't like the fact that there aren't many branches about, this means most problems have to be dealt with over the phone. The APR can also be quite high. There are a few complaints on various comparison forums that question their customer service as well. You can expect normal bank charges for missed payments.