The JN Bank Debt Consolidation 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 with rates from 9.9% APRⱡⱡ - 24.9% APRⱡⱡ
Representative 12.9% APR (see example below)
No set up fees, make a lump sum or early repayment with no penalties
Representative 12.9% APR | Loan amount £9,500 | Interest rate 12.9% (fixed) p.a | Term 60 months | Monthly repayments £212.25
| Total amount repayable £12,735.00
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