
Anything between £3,000 and £25,000 at a typical rate of 6.9% APR. Just pick an amount that's high enough to cover what you need, and low enough for you to pay it off as easily as you can.
Anywhere between 12 and 72 months. Pick a term that's long enough for your repayments to be affordable, but short enough to let you pay the money back as quickly as you can, that way you'll pay less interest over time.
Yes. We'll look at how much more you want to borrow and let you know. Just give us a call.
What if I want to borrow less than £3,000 or more than £25,000?
If you want to borrow less than our minimum loan (£3,000), you could think about applying for a Virgin Credit Card. You can pick from a range of interest rates. Why not visit our Virgin Credit Card site and see what you think.
If you need to borrow more than £25,000, give us a call on 0800 068 5688 and we'll see what a Virgin Personal Loan can offer you.
The Virgin Credit Card and the Virgin Personal Loan are issued by MBNA Europe Bank Limited who are authorised and regulated by the Financial Services Authority, Registered Office: Stansfield House, Chester Business Park, Chester CH4 9QQ. Registered in England Number 2783251. Written quotations available on request. Credit is available, subject to status, only to UK residents aged 18 or over. Funds are paid subject to return of a signed agreement. Calls may be monitored or recorded.
What interest rate will apply?
Our typical rate is 6.9% APR. APR simply means the total percentage interest rate your loan will cost you each year, including charges.
Though we'll give this rate to the majority of our customers, we may offer you a different rate depending on your personal circumstances and the credit assessment we carry out as part of your application.
The agreement we send you to sign before we start your loan will clearly show the APR we can give you.
Should I protect my loan repayments?
It really is worth thinking seriously about. We don't want to come over all gloomy, but people can and do become ill, have accidents or suddenly find themselves unemployed through no fault of their own. No one likes to think about these things, but it can be comforting to know your loan repayments are covered if the worst happens. You can't add it on later. So think about it now.
No worries. If you choose this option, you won’t have to start repaying your loan until 4 months after you get the money.
For example: take out a loan in January and make no repayment until May.
You’ll pay slightly more interest this way, but it gives you a breather before you start repayments.
What happens if I can't repay it?
There are three steps you can take to avoid this:
- Be realistic and take into account extra expenses you may have in any month (holidays, Christmas, car MOT) when you're thinking about how much you can pay.
- We're not trying to twist your arm, but do think about protecting your loan repayments against accident, sickness or involuntary unemployment when you take out your loan. You can't add it on later if you change your mind. You might be glad of it if things go wrong. Check out our Payment Protection.
- If despite all your best intentions, something happens and you start struggling with your repayments, talk to us. We'll help you sort it out.
What if I want to pay it off early?
Go for it! It's best to keep any debts to a minimum, as you never know what's round the corner. You can pay off your Virgin Personal Loan in full at any time and we won't charge you a fee for repaying it early. Just call us and we'll sort it.
Will the interest rate change?
Once you've signed the agreement and started your loan, your repayments will be fixed.
You can apply online now - and if you get the green light we aim to tell you the next working day. Or call us free on 0800 068 5688. We're here 8am - 9pm Monday to Friday and 9am - 6pm Saturdays, and you'll speak to someone who can give a 'yes' or 'no' in 10 - 15 minutes.