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  5. How do I apply for a smile loan?

How do I apply for a smile loan?

There are two ways to apply for a smile personal loan: either through our website or by logging into online banking and applying through our products page.

To apply for a personal loan, you must be:

  • 18 or over.
  • UK resident.
  • Earning a minimum Gross Annual Income (GAI) of £10,000
  • An existing customer having held a Co-operative Bank or smile current account for at least 7 months (Cashminder, Student and Pathfinder accounts are not eligible).
  • Not had any County Court Judgements (CCJs), entered into an Individual Voluntary Arrangements (IVAs) or Trust Deeds nor been declared bankrupt within the last 6 years.
  • Not in arrears or have not missed more than 2 payments on any credit agreement in the last six months.
  • At least one applicant must be Employed full time, part time, self-employed or retired.
  • Consolidating an existing Co-operative Bank loan is subject to having made at least 6 repayments on your present loan.
  • To apply for a joint loan account, both applicants must be at least 18 or over, UK residents and reside at the same address.

Approval is subject to status and based on a credit check and an assessment of your personal circumstances.

Please note, we do not charge any arrangement fees when you apply for a loan.

How will I know if my application has been successful?

We will be in touch to let you know the decision via email and you will also receive confirmation in the post. A decision will be made within 2 working days.

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