Personal loans

Annual Percentage Rate (APR)

This is used to show what the overall cost of the money borrowed is for a year. It takes into account the annual interest rate and how frequently this is charged (daily, weekly, monthly or annually), any fees when setting up a loan, and any other relevant costs.

The APR makes it easy to compare different loan products across the market.

Representative APR

The rate we expect at least 51% of successful applicants to get.

Representative example

This uses the representative APR to show what a typical loan would cost. It includes information such as whether the rate is fixed or variable, how much the monthly repayments would be, and the total amount payable.

AA Financial Services Limited is authorised and regulated by the Financial Conduct Authority (Ref no. 727859). Registered Office: Level 3, Plant, Basing View, Basingstoke, Hampshire, England, RG21 4HG. Registered in England and Wales number 912211.

National Westminster Bank plc is registered in England and Wales number 929027. Registered Office 250 Bishopsgate, London, England, EC2M 4AA Financial Services Firm Reference Number 121878. National Westminster Bank plc is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The AA is a trademark of the AA Group and AA branded companies, and is used with permission under brand licence to National Westminster Bank plc.

Finance subject to status. Terms and Conditions apply. Over 18s only. Please ensure you can afford the repayments for the duration of a loan before entering into a credit agreement.

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You can also find more information in our cookie policy and website terms and conditions.

What is a personal loan?

A personal loan allows you to borrow a fixed amount of money and repay it in monthly instalments over an agreed period. These repayments include interest, so the total amount you repay will be higher than the amount borrowed.

How much can I borrow?

You can borrow from £1,000 to £35,000, subject to eligibility and affordability.

How long can I take out a loan for?

You can take out a loan for 1 to 8 years.

Can I use a loan to pay off debts?

Yes, in the right circumstances debt consolidation could be useful. If you have all your debts in one place, you only have to track one interest rate and make one payment each month.

Before applying you should review your options to make sure that the loan is right for you. Compare the rates of interest between your current loan or credit card providers and a loan with us, and consider how long the loans are for.

Sometimes taking out a loan to manage your finances can mean you end up paying a higher rate of interest, or it could take longer to pay the money back.

Can I use a loan to invest or trade in cryptocurrencies?

You can't use our personal loans to invest in or trade in cryptocurrencies or other high-risk investments. This is because the value of cryptocurrencies - or stocks and shares - can rise or fall, and you could lose some or all of your money.

As the market for cryptocurrencies is available 24/7, this could negatively impact you if you’re struggling with a gambling addiction.

Visit Gamcare to get free advice and support for a gambling or trading addiction.

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 aged 18 or over 

• 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:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 502 2414 (Monday to Friday - 9am to 5pm; bank holidays - closed)

When should I expect to hear about my loan application?

You’ll normally receive a decision for your loan application within minutes of applying. In some cases we’ll need to perform extra checks, which could take up to 3 days. We’ll get in touch with you once those checks have been completed so that you can finish your application.

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.

When do I make my first loan repayment?

Your first loan repayment will be one calendar month from the date the loan is released to you.

You'll find the date on your welcome letter. If this day falls on a bank holiday or weekend, the repayment will be made on the next business day 

Can I change the date my repayments are made?

No, you can’t currently change your Direct Debit date. But if you’d like to change the account that you make your repayments from, get in touch and we can help:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 502 2414 (Monday to Friday - 9am to 5pm; bank holidays - closed)

How do I make my monthly loan repayments?

You’ll need to make your monthly repayments by Direct Debit, unless we agree otherwise. This will be set up from the bank or building society you chose during your application.

If you want to change the account that your repayments are paid from, you can:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 502 2414 (Monday to Friday - 9am to 5pm; bank holidays - closed)

What happens if I miss a payment, or I need help with my debt?

If you miss a payment, you can call us on 0808 175 4019 and pay any money you owe. You won't be charged for any late payments. But depending on your situation, your credit file may be impacted by missed or late payments.

If you’re having trouble paying back your loan, or you think you may struggle in the near future, please get in touch as soon as possible:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 175 4019 (Monday to Friday - 9am to 5pm; bank holidays - closed)

Where to get help:

There are a number of organisations who give confidential and impartial debt advice. Contacting them is free and won't impact your credit score.

• Citizens Advice
• Money Helper
• StepChange
• National Debt Line

Can I take a payment break?

No, our loans don't come with a payment break option. If you're struggling to keep up with the repayments on your loan, let us know as soon as possible so we can help:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 175 4019 (Monday to Friday - 9am to 5pm; bank holidays - closed)

Can I pay my loan off early?

You can pay your loan off early at any time. This is known as an Early Settlement.

If you want a full Early Settlement to pay off your loan, log in to your loan account and select 'Request early settlement'. You'll then receive an Early Settlement quote.

If you do want an Early Settlement, this may result in a charge of up to 58 days' interest.

Can I make an extra payment towards my loan?

An extra payment is any payment you make over your monthly Direct Debit amount. You can make an extra payment at any time. To do so, log in to your loan account and select 'Make extra payment’. You'll find the details you need to transfer money from your bank account directly to your loan. As a result of any extra payments, we reduce the term of your agreement unless you request otherwise.

Can an extra payment be reversed?

If you make an extra payment in error, you can ask us to reverse it within 30 days of making the payment. If successful, we'll return the money to the original payment method.

What happens to the remaining extra payment after a partial reversal?

If we reverse part of an extra payment, any remaining extra payment will be applied to the loan. This amount will not be reversed.

How do I find out my outstanding loan balance?

You can log in to your account to check what’s left to pay back on your loan.

What should I do if my personal details change?

Let us know if you need to update your personal details:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 502 2414 (Monday to Friday - 9am to 5pm; bank holidays - closed)

How do I make a complaint?

If you have a complaint, we really want to hear from you - so we can try and put things right, as well as improve our services for all AA members and customers.
Get in touch with your concerns and we'll aim to deal with them as quickly as possible:

• Chat to us by logging in to your savings account and selecting the icon in the bottom right of the screen
• Email us at [email protected]
• Call us on 0808 502 2414

What's your process for handling complaints?

Firstly, we’ll let you know we’ve received your complaint. Then we’ll give you a complaint reference number to use if you need to contact us. That way, we can find your information quickly.

We may need to talk to you to help put things right. So please give us your up-to-date contact phone number and email address.

You’ll receive a letter to acknowledge your complaint - along with our complaints leaflet (PDF) - within 5 business days, outlining the next steps.

We aim to provide you with our final complaint response letter within 3 weeks of the complaint being raised. If we need longer than this, we’ll let you know in advance.

What can I do to protect myself from loan-related fraud and scams?

If you think you’ve been a victim of fraud or a scam, call us immediately on 0808 502 2414. You can also report it to Report Fraud.

For information on recognising and protecting yourself from loan-related fraud, please read our guide.

Which format can I receive my loan documents in?

We can provide documents in braille, large print or audio. If you need any of these formats, please get in touch:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 502 2414 (Monday to Friday - 9am to 5pm; bank holidays - closed)