How do I apply for a loan?
You can apply online for a loan and will get an instant decision in most cases. You’re eligible for a loan with The AA and NatWest Boxed if you:
- Are a UK resident with a UK address
- Haven’t been declared bankrupt in the last 6 years
- Haven’t applied for a loan with The AA or NatWest in the last 28 days
What information and documents will I need when applying for a loan?
During the application, we'll ask you about your finances. This will include your employment status, salary and monthly outgoings. Depending on your individual situation, we might ask for more information to help us make a decision about your ability to pay back a loan.
You'll also need to verify your identity during the application. This will involve taking a photo of your ID, and recording a short video of yourself.
If you’re not able to take a video to confirm your identity, chat to us to discuss your options by logging in to your loan account and selecting the icon in the bottom right of the screen.
Can you tell me how much a loan will cost without me providing personal details?
As we offer a personalised quote which is based on your individual circumstances, and the amount you’d like to borrow, we do need to capture your personal details.
If you apply for a loan with us, a credit search will be registered at the credit reference agencies.
Can I change my mind about taking out a loan?
Yes. You have 14 days to cancel, starting from when you receive your loan. You’ll need to repay the full amount you’ve borrowed, but we won’t apply any interest fees or charges.
If you do change your mind about taking out a loan, just contact us within this 14-day period:
When will I know if I've been accepted for the loan?
In most cases you'll get an instant decision online. If we do need more information or documentation, we'll be in touch with you by post within 5 days.
What is credit scoring and how does it work?
All of our loan applications go through a standard credit scoring system, which helps us decide whether we can lend you money and which rate you’ll get. It works by taking all of your personal information and giving each relevant detail a ‘score’. These individual values are then added together to provide a final score, which we use as a basis to make our decision.
How soon will I get my money?
If your application is successful, we aim for the money to be in your bank or building society within 2 hours of receiving your signed agreement.