Borrowing more – Increase loan amount - Royal Financial of Scotland

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Borrowing more

Top up your existing loan or take out a new one

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.

Thinking of borrowing more?

When you apply for a new loan, we'll ask if you want to keep or close your old loan during the application process.

Option 1
Open a new loan and run two side-by-side

- Your old loan will continue to be repaid at its current interest rate. So if its already a low rate of interest you might want to leave it open


- Closing a loan early incurs a fee, you'll avoid this if you leave the loan open


- There's no difference in how much you can borrow - total borrowing cannot exceed £50k, whether as one loan or several.

Option 2
Replace your existing loan with a new loan for a larger amount

Apply for a total amount you require to pay off your existing loan plus any additional funds you require:

- your existing loan will be repaid and closed down and the remaining balance released to you;


- the total borrowing will now be at the new interest rate as your previous loan will have been repaid;


- please note - when your existing loan is repaid you'll pay 58 days interest (28 days if loan term 12 months or less, or the remaining number of days interest if there are less than 58 days (or 28 days) left in the loan term) to close the old loan early;

- please remember, if you decide to borrow over longer term, this may mean that you'll pay more interest overall.


To find out your outstanding loan balance, current rate, and your Early Repayment Charge, please call us or visit your local branch. 


If you cancel your new loan in the 14 day cancellation period we are under no obligation to reinstate your old loan. However we could offer a new loan for the amount of the old loan at the current rates available.

Flexible borrowing options

Borrow between £1k and £50k
£1,000-£14,950 repay over 1 to 5 years, £15,000-£50,000 over 1 to 7 years

Home improvement loans
Home improvement loans over £2,500 can be repaid over a maximum of 10 years

Minimum loan term
The minimum loan term is 1 year, irrespective of loan amount

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.

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
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