Debt consolidation – Debt consolidation loans – Royal Financial of Scotland

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Debt consolidation loans

We could help you manage your finances

Apply for a loan Find out if you're likely to be approved

We're now offering loans between £1,000 and £50,000.

Our lowest ever Representative 3.9% APR  for loans of £7,500 to £25,000.

Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR. Over 18s and existing Royal Bank current account customers only.

Paying too much for an existing loan or credit card?

A debt consolidation loan could be used to pay off your existing credit cards, store cards and other personal loans. You could consolidate all your debt into the one loan and only have one payment to make each month.

Taking on any new debt is a big decision. In particular, 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.Early Repayment Charge (ERC) is a fee that sometimes applies when re-paying debt early. It is less common with credit or store cards but more common with loans. If an ERC applies, remember to take it into account when working out the cost of a new loan.

Use our loan calculator to work out the best loan for you

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.

Things to consider before applying

Work out how much you may need to borrow

Make a list of all your debts. Check the outstanding balances, interest rates you are currently paying and if there are any penalties for paying the debt early.

Use our helpful tools

You might want to use our loan calculator to find the right debt consolidation loan for you or our personalised loan quote to find out if you're likely to be approved, how much you may be able to borrow, the monthly repayments and personalised interest rate. There is no impact on your credit rating if you use the tool. Using the tool will help you compare your current commitments with a new loan.


Think through your options, for example using savings to reduce debt could be cheaper than a new loan.

The interest you receive on your savings might be lower than interest you pay on a loan so you might want to consider paying off your existing debt with any savings you have.


If you're struggling with excessive monthly payments you may want to speak to your current lenders, they may be able to help with a new payment plan or a re-payment holiday.

Personalised Quick Quote
Add your signposting title here… Find out if you're likely to be approved

We'll show you how much you may be able to borrow

View your personalised interest rate and monthly payments

There's no impact on your credit rating

Personalised Quick Quote
Add your signposting title here… Managing your money

Our managing your money section has lots of hints and tips to help you budget and take control of your finances. Use one of our budgeting tools or share one of your own money management tips.

Managing your money
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