NatWest Loans

Find out more about the personal loans offered by NatWest, including how they work and how much you could potentially borrow.

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NatWest is a national bank with branches across the UK. It was founded in 1970 and is part of NatWest Group PLC.

NatWest personal loans

It is possible to apply for an unsecured personal loan with NatWest, and use it for a variety of reasons, as long as you meet all of the lender’s eligibility criteria.

If you do take out a NatWest loan, you will repay it in fixed monthly payments, with interest on top.

How much can I borrow?

With a NatWest loan, you can currently borrow between £1,000 and £50,000. How much you borrow, and what you use it for, will change the terms of your loan.

Currently, NatWest has three personal loan tiers. If you borrow between £1,000 and £7,450, you will be offered a term between one to five years.

If you borrow between £7,500 and £50,000, the maximum term will increase to eight years.

And if you borrow between £7,500 and £50,000, and use the funds for home improvements, it is possible to get a 10-year loan.

What are the interest rates on a Natwest loan?

You should be able to get a fixed interest rate with your NatWest loan. This means the amount of interest you pay won’t change for the length of your repayment period.

What that interest rate is will depend on your personal circumstances, such as your credit history, and the amount you are looking to borrow.

By using NatWest’s annual percentage rate (APR), you can work out how much the loan may cost you over one year, including interest and fees.

Lenders advertise a representative APR (annual percentage rate) to customers before they apply. This rate is offered to at least 51% of successful applicants.

It is important to note, however, you are not guaranteed to secure NatWest’s advertised representative APR, 49% of customers could be offered a higher rate, based on their specific circumstances. NatWest also states it will never offer a fixed interest rate that exceeds 29.9% per annum.

Can I get a joint loan from Natwest?

It is possible to apply for a joint loan from NatWest. A joint loan involves you taking out a loan with another person, whether that’s your partner, a family member, or a friend.

You can currently borrow between £1,000 and £50,000, with the term anywhere from one to 10 years, depending on what you are using the money for.

It is not a small decision to take out a joint loan. It is a shared responsibility, and shouldn’t be entered into lightly. Your credit file will be linked to the person you are borrowing with, and in the future, lenders may take into consideration both of your credit ratings before approving further financing.

Similarly, if the person you borrow with defaults on their payments, you will still be responsible for paying off the loan in full.

Can I get a secured loan from Natwest?

At present, it is not possible to get a secured personal loan with NatWest. Unlike an unsecured loan, a secured loan requires you to put up an asset as a security in order to be eligible for the loan.

» COMPARE: Secured loans

Pros and cons of NatWest loans

As with all lenders, there are advantages and disadvantages to getting a loan with NatWest.


  • You can get a loan quote at the start of your application with no impact on your credit score if you have a NatWest current account.
  • It can take as little as 10 minutes to apply for a loan.
  • You may be able to get the funds in your account on the same day you apply.


  • You cannot get a secured personal loan with NatWest.
  • You will be charged an early repayment fee if you pay off your loan early, calculated as interest on the amount you repay early.
  • You must have a NatWest current account for at least three months before applying.

How do NatWest loans work?

As with many unsecured personal loans, a NatWest loan will require you to submit your income, outgoings and employment details, as well as how much you want to borrow, so the lender can assess your suitability.

Once NatWest has finished its assessment, and carried out a credit check, the lender will either offer you a loan or reject your application.

If approved, you can potentially receive your funds on the same day as you submitted your application. This is only if you apply online, are unconditionally accepted, and make sure you sign your documents before 5.45pm on Monday to Friday.

What if I miss a payment?

If you miss a payment, you may end up incurring additional interest and charges. It could also have a negative impact on your credit score.

NatWest encourages you to get in contact as soon as possible if you miss a loan payment, or fear you might fail to make an upcoming instalment. You may be able to access advice on debt management, or a financial health check if you are worried your situation may change.

Can I pay off a NatWest loan early?

You can repay your NatWest loan early. However, if you do so, you will be charged an early repayment fee. This will be equal to:

  • 28 days’ interest on the amount you repay early for loans of one year or less
  • 58 days’ interest on the amount you repay early for loans over one year in length

If there are fewer than 28 days (for a one-year loan) or 58 days (for a longer loan) remaining on your loan, then your early repayment fee will be calculated based on the number of actual days left on your loan.

What can I use a NatWest loan for?

There are a number of different things you can do with a NatWest loan, including:

Buying a car

If you need help buying a new set of wheels then a NatWest loan can be used towards getting a car, and the cost of the purchase can be spread over a matter of months or years.

Debt consolidation

If you have multiple different debts across a number of lenders, you can use a NatWest loan as a form of debt consolidation. Debt consolidation is when you pay off all your existing debts using a new loan to make one, simplified monthly repayment.

Home improvements

If you want to put in a new kitchen, build an extension or just give your decor a refresh, then you could look into using your NatWest loan for home improvements. If you do use it for this purpose, it may be possible to spread your loan over a longer period of time than if you used it for something else.


From covering catering to hiring the venue, getting married can be expensive. You may want to use your NatWest loan to help fund your nuptials.


Everyone needs a break once in a while. A NatWest loan can help pay for the trip of a lifetime.

Restricted uses

While there is a range of things you can do with a NatWest personal unsecured loan, the lender stipulates that you cannot use the funds to:

  • buy or put down a deposit on property or land
  • pay your household bills
  • make your rent or mortgage payments
  • pay your car tax
  • make payments in arrears
  • gamble
  • pay court or solicitors’ fees
  • buy shares or other investment funds
  • engage in any business activities

» COMPARE: Business loans

NatWest loan eligibility criteria

There are a few basic requirements you need to meet in order to be eligible for a NatWest loan. You must:

  • be over the age of 18 years old
  • be a UK resident
  • have a NatWest current account that has been open longer than three months
  • have a regular income
  • have not been declared bankrupt in the last six years
  • have not applied for a personal loan with NatWest within 28 days of your new application

On top of this, you will also need to pass NatWest’s credit checks.

Can I get a NatWest loan with bad credit?

If you have a weaker credit score, you may find it more difficult to get a personal unsecured loan with NatWest.

Can I top up a NatWest loan?

If you already have a NatWest loan, but want to borrow more, you may be able to top up your funds.

If you were to do this, NatWest would use the new amount you borrow to pay off your old loan before opening up a new loan, at a new interest rate, in your name.

This means if you want to apply for a top-up, you will need to ask for the amount you need to pay off your existing loan plus the extra amount you want to borrow. You will also have to pay an early repayment charge.

An alternative to topping up your NatWest loan is taking out a second loan with the lender.

How to apply for a loan from NatWest

Applying for a NatWest loan is relatively easy. You simply need to follow these steps:

  1. If you do not have one, open a NatWest current account three months prior to your application.
  2. Decide how much you want to borrow, and how long you want to be paying the loan back.
  3. Get a personalised quote from NatWest.
  4. If you want to proceed with your application, submit your income, outgoings, employment details, and your address for the last three years, as well as how much you want to borrow and for how long, via the online application form.
  5. NatWest will then assess your application and carry out a soft credit check (or full credit check if applying for a joint loan).
  6. If approved, you can then either accept or reject NatWest’s loan offer.
  7. How long does it take for a NatWest loan to be approved?

    You can potentially find out if you were successful, and receive the funds, on the same day as your application. This depends on whether your application is unconditionally approved and how quickly you sign your loan documents.

    If NatWest needs to contact you for more information, then the approval process can take a little longer.

NatWest customer reviews

On Trustpilot, NatWest has a rating of 1.4 out of 5 based on over 4,200 reviews.

On the App Store, the NatWest Mobile Banking App has a rating of 4.6 out of 5 based on over 76,000 reviews.

And on the Google Play Store, the NatWest app has a rating of 3.9 out of 5 based on over 241,000 reviews.

These reviews cover all of NatWest’s mobile banking services and not just loans.

This information is correct as of 27 September 2022.

NatWest Loan FAQs

Are NatWest loans fixed?

Yes, NatWest personal unsecured loans come with a fixed interest rate. What that interest rate will be, however, depends on your personal financial circumstances and the amount you want to borrow.

Is there an early repayment charge on NatWest loans?

Yes, if you want to pay off your NatWest loan early, you will incur an early repayment charge equal to 58 days’ interest on the amount you repay early.

How much this costs will depend on the overall length of your loan, your interest rate, and the amount you are repaying early.

About the author

Connor Campbell
Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The Independent. Read more