Personal Loans

You can apply or obtain a quote:
online via Internet Banking by selecting the 'apply online' option from the left hand menu or over the phone by calling 08 456 100 100.

A first direct Personal Loan is an unsecured loan account, with fixed monthly repayments. What you do with your loan is up to you, as long as it's not for business or illegal purposes.

We offer loans from £1,000 up to £25,000 in £50 increments.

The minimum term for our loans is 12 months. The maximum term is 84 months. Terms are available in 6 month increments.

The simplest way to work out what the repayments would be on your loan is to use our online loan calculator. Decide how much you need, and how much you can afford to pay each month, and we'll work out the rest.

Repayments have to be paid by standing order from your first direct 1st Account. You can find out how to open one here.

As you'll notice from our Loan Calculator, the rate you receive is dependent on the amount you want to borrow. In addition, we will also take into account your individual financial circumstances.

We start charging interest from the day you get your money.

If your application is approved online we can make your money available immediately by transferring it into your first direct 1st Account. That way, you can put your plans into action straight away - or negotiate cash discounts on your purchase, knowing funds are available.

If you apply for your loan over the telephone and it is approved, we will send your loan agreement form to you to sign and send back to us.

After we receive your signed loan agreement form we will transfer the money into your 1st Account.

Yes, our Personal Loan is only available to first direct current account customers. You can find out more about opening a current account here.

You can repay your loan in full at any time by first giving us notice.

You can give notice in writing, by secure message or by calling us on 08 456 100 100. We will then give you a settlement figure.

It is necessary to pay all amounts owed if you wish to end the loan agreement with us.

Where you make an early repayment, there may be a reduction in the amount of interest you will have to pay and this will be reflected in the settlement figure.

We are entitled to defer the early repayment by up to 28 days and to make a charge equivalent of one month's interest on the amount of early repayment.

You can find out your current balance by:
Calling us on 08 456 100 100, or sending us a secure message to request a settlement figure.

If your loan was opened after 11th June 2010 you are able to make overpayments to your loan. These payments may reduce the amount of interest you pay over the term of the loan.

If your loan was opened prior to this date we will not accept overpayments.

There are no repayment holidays with a first direct Personal Loan.

If you are late paying any amount due under your agreement, we may charge you interest on the overdue amount at the interest rate specified in the agreement from when payment was due until payment is received in full.

Persistent late or missed payments could affect your credit rating which can make getting credit more difficult. In the worst case it may lead to legal action to recover a debt.

If you are concerned about your financial situation, please call us on 08 456 100 100 as soon as possible. As a responsible lender we will work with you to ensure you can keep in control of any money concerns you may have, whether they are short or long term.