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Can I apply for a JN Bank UK unsecured personal loan?

To apply for a loan with JN Bank UK you must:

  • Be a homeowner with or without a mortgage
  • Not have an existing JN Bank UK loan
  • Be over the age of 21
  • Have been a UK resident for more than 3 years
  • Have no active or pending CCJs, bankruptcies or IVAs
  • Be employed, self-employed, or retired with a minimum monthly income of £1,000 after tax
  • Have a UK mobile phone number and a valid email address
  • Have a UK bank account with a direct debit facility
Apply for a JN Bank UK unsecured personal loan

Applying for and accepting an unsecured personal loan is a serious commitment and not one to be taken in a rush or without planning. You can be committed to paying a loan for up to 5 years with JN Bank UK, so doing your research and making the right decision is very important.

What is an unsecured personal loan?

A JN Bank UK unsecured personal loan is a type of loan where you borrow money ranging from £1,000 to £15,000 and agree to repay the money along with the interest at an agreed APR over 1 to 5 years. You must keep up with your contractual monthly repayments on the agreed day each month.

An unsecured personal loan is not secured against an asset such as your house, car, or what you purchase with your loan. However, you must be a homeowner to be eligible for a JN Bank UK unsecured personal loan.

Your application is reviewed using your credit score and individual circumstances, such as your credit history and amount of borrowing. We also assess the affordability of the loan based on your income and expenses.

You can use the money to purchase a vehicle, make home improvements, or to consolidate your debts. However, it cannot be used to buy shares, make a deposit on a house, gamble, or pay a tax bill.

How does a loan work?

Before taking out an unsecured personal loan it's important to understand how they work. When you apply for an unsecured personal loan with JN Bank UK, you are agreeing to borrow an amount of money from us, and pay it back over a set term.

We've set out how an unsecured personal loan works in the steps below.

The application

When you apply for a unsecured personal loan, many lenders will allow you to check if you are likely to be accepted before you commit to taking the loan. This is called a soft search and does not impact your credit score. When you apply for a unsecured personal loan from JN Bank UK we conduct a soft search to let you know if you will be accepted. You can choose a loan of between £1,000 to £15,000 over 1 to 5 years.

When you submit your application, you may receive an email from our lending team requesting further information, such as proof of ID or copies of your bank statements. These can be uploaded online.

If you decide to accept the loan, our lending team will do a hard search on your credit file. A hard search means your loan will be shown on your credit file and is visible to other lenders. They may contact you for further information. If you are approved and choose to accept the loan offer and sign the loan contract, the money is paid into your bank account.

The repayment plan

When you apply for an unsecured personal loan, if you are accepted you will be told the interest rate you will pay, the monthly repayment date, the monthly repayment amount, how many repayments you need to make and the total cost of your loan including interest. It is important to make your repayment every month on the date stated on your loan contract. Missing your repayments could impact you credit file and score, impacting your ability to borrow in the future. It could also result in additional interest and fees.

The interest charges

A loan comes with interest charges, these are shown as an APR and an interest rate. When you repay the loan, this covers the amount you have borrowed and the interest. The APR includes the interest costs and any associated fees of the loan. Unsecured personal loans from JN Bank UK do not have any application fees and our interest rates are fixed. Interest means you payback in total more than you initially borrowed.

The credit agreement

A credit agreement is part of the necessary documentation a lender must provide you with in order to agree a loan.

If you are accepted for a JN Bank UK loan we will send you a credit agreement to sign electronically. This sets out the amount being borrowed, the total charge of credit, the APR, the total amount payable, the monthly repayment amount and the regular repayment date each month.

It also includes important information and the terms and conditions of your loan. It is important that you read these carefully as a loan is a serious commitment. You should also remember that failing to make your repayments may impact your ability to borrow in the future.

What can I use an unsecured personal loan for?

When you apply for a JN Bank UK unsecured personal loan, we will ask you what you want to use your loan for. Your loan can be used for many purposes, such as:

  • Home Improvement
  • Emergency Repair
  • Car Loan
  • Holiday
  • Debt Consolidation

You can't use your loan to:

  • Buy shares/stocks
  • Make a deposit for a house
  • Pay a tax bill
  • Gamble

What is a debt consolidation loan?

A debt consolidation loan is when you take out a single loan in order to repay, in full, your other debts. This means you only need to make one repayment at one interest rate, rather than multiple repayments at different interest rates.

You should aim for your debt consolidation loan to have a lower interest rate/APR than your existing debts. This should reduce your monthly loan repayments. However, consolidating your total borrowing over a longer period than your original debts could result in your debt costing more in total over the longer term.

What happens if I miss a repayment?

If you have missed repayments, please reach out to our Financial Help Squad as soon as possible so that we can understand how to help you. Not keeping up with your repayments can have a serious impact on your credit file, and may impact your ability to borrow in the future. Missing repayments will be reported to credit reference agencies. You may also pay more for your loan due to interest and fees. To contact our Financial Help Squad, click here.

What is an Annual Percentage Rate (APR)?

An annual percentage rate, or APR, represents the total costs of your borrowing. Which includes the interest rate, and any fees for taking the loan, as an annual percentage. Our representative APR of 13.9% is offered to 51% of our customers. You may receive a different interest rate based on your circumstances.

What is a Representative Example?

A Representative Example, or REP example demonstrates to the borrower the potential costs for taking out a loan. It typically includes important information such as the loan amount, term of the loan, interest rate, and any additional fees attached to the loan.

Do you need additional support?

During your application, if you have any financial or health issues, or foresee anything that could impact your financial resilience, or ability to repay your loan - you can speak to us and let us know.

Click here to email our Underwriting team.

Why choose JN Bank UK for your unsecured personal loan?

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Get a quote without impacting your credit score

Get a quote, find out the actual rate you could be offered all without impacting your credit score!

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Affordable rates

Affordable rates with no upfront fees to pay

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Easy online application

Complete our simple 5-step process to find out if you'll be offered a loan

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Money in your account within 5 working days

If approved, and you accept the loan, the money will be with you within 5 working days

Three steps to a JN Bank UK unsecured personal loan

Step 1

GET A QUOTE
Get a quote that is specific to you, and find out if you will be accepted with no impact on your credit score

Step 2

SUBMIT YOUR APPLICATION
Sometimes, we may need you to upload documents such as payslips and bank statements

Step 3

SIGN YOUR AGREEMENT
If approved, digitally sign your agreement and receive your money within 5 working days

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Apply for a JN Bank UK unsecured personal loan today!
Unsecured personal loan FAQs
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To apply for a loan with JN Bank UK you must:

  • Not have an existing JN Bank UK loan
  • Be a homeowner with or without a mortgage
  • Be over the age of 21
  • Have been a UK resident for more than 3 years
  • Have no active or pending CCJs, bankruptcies or IVAs
  • Be employed, self-employed, or retired with a minimum monthly income of £1,000 after tax
  • Have a UK mobile phone number and a valid email address
  • Have a UK bank account with a direct debit facility

Currently, we are only accepting unsecured personal loan applications from customers who are homeowners.

If your loan application has been accepted, you will be asked to read and accept our terms and conditions, and other contractual documents before you accept the quote.   

If your loan application has been referred, we will let you know if we need to check anything else regarding your application. This may require documentation to be provided to help verify some of your details. These documents are known as JN Bank UK acceptable forms of identification and are used to confirm your identity, home address, income, or bank account. This protects you from criminals who might try to use your identity without you knowing.

If you are asked to provide this documentation, please make sure that:

  • The name and address detailed on your identification is the same as the name and address you provided us during your application
  • Your proof of address is dated within the last three months
  • Your proof of bank account shows name, sort code, and account number

When you are applying for a JN Bank UK unsecured personal loan you may be asked to provide documents to verify your identity.

You will receive an email from our Underwriting team who will tell you which documents you need to provide.

Our range of unsecured personal loans suited for your requirements

Upgrade, renovate, or extend your home with our unsecured home improvement loan 
Home Improvement Loan

 

Get road ready with our unsecured car loan

Car Loan

 

Get back on track with our debt consolidation loan

Debt Consolidation
Helpful guides

How do credit scores work?

Credit scores play a key role when applying for a personal loan or a mortgage for your house. Read our guide to find out how credit scores work.

Click here to read more.

All about unsecured personal loans

Here is the JN Bank UK guide on everything you need to know about Unsecured Personal Loans. What they are, the different types, the benefits, and drawbacks, and more.

Click here to read more.

Using a home improvement loan to fund your home improvement project

Read our guide on funding your home improvement project with a home improvement loan, to find out all you need to know.

Click here to read more.

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