The JN Bank Personal Loan - at a glance

Multiple debts and expenses can be difficult to manage. Payments can be easily missed; free cash flow can disappear, and you may be paying a lot in interest fees and charges. If you’re looking for a way to take control of your debts, then a JN Bank Debt Consolidation Loan may be for you.

Having one debt repayment may allow you to get back to what’s important to you.

  • Pre-application eligibility check – no record on your credit history
  • Borrow from £1,000 to £15,000, over 1 to 5 years
  • Fixed APR with rates from 7.9%APRⱡⱡ - 24.9% APRⱡⱡ
  • Representative APR 11.9% (see example below)
  • Quick decision – money paid within 2 working days after approval
  • Make lump sum repayments, with no penalties
  • No set up fees or early repayment charges
  • Online account management and paperless statements
You can apply for a JN Bank Personal Loan if you:

• Are over the age of 21
• Have been a UK resident for more than 2 years
• Are employed or self-employed with a minimum monthly income £1,000 after tax
• Are self-employed and you have been established for more than 12 months
• Have a UK mobile phone number and an email address
• Have a UK bank account with a direct debit facility.

Please note: the loan must be opened in sole name only.
ⱡⱡ Interest rates are correct at the time of publication but may change in the future and subject to individual credit check.
Select an amount to borrow between £1,000 and £15,000
GBP
£1000 £15000
Select a repayment period that has affordable monthly repayments
years
1 year 5 years
Illustrative APR
Monthly repayments
Total cost of credit

Representative example

Representative 11.9% APR | Loan amount £9,500 | Interest rate 11.9% (fixed) p.a | Term 60 months | Monthly repayments £207.11
| Total amount repayable £12,426.60

JN Bank treat all our customers and their applications on an individual basis. The calculator above is for illustrative purposes only, and the results are based on the representative APR for the amount you enter. JN Bank Personal Loans are available over terms of 1 to 5 years and for amounts of £1,000 to £15,000. We will do a credit assessment when you apply and your actual rates and repayments may differ from your original request, and will be based on your personal circumstances, the loan amount and term. The maximum APR we would offer you on any loan amount is 24.9%. Credit is available subject to status. We reserve the right to refuse any loan application.

2 ways a debt consolidation loan could help:

  • Having a single monthly payment – rather than several – could be a helpful way of managing your debt to reduce it over time.
  • Knowing upfront how much you will pay back every month and for how long.

4 things to consider before taking out a personal loan to consolidate debt:

  • Whether applying for a personal loan is the right thing to do will depend on your personal circumstances. If you're unsure about what to do, you should seek advice.
  • You could end up paying higher costs for a debt consolidation loan. It may seem like a chore, but it is essential to read the small print including the interest rate, exit fees and any other fees and charges, of your existing debts before you make the decision to consolidate with an unsecured loan. 
  • Taking out a loan to consolidate your debts could mean that the repayment term for some of the debts is extended and you might pay more interest over time.
  • A personal loan is an ongoing commitment so you will need to make sure you think about how the loan repayments will work with your future plans
New to JN Bank?
Apply now to take advantage of our savings accounts and personal loan.
We'll help you find a way.