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  5. What types of personal loans do you offer?

What types of personal loans do you offer?

We have one personal loan that can be used for a range of different purposes. To apply, you need to 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.

This loan is unsecured, which means it isn't secured on an asset such as your home. Learn more on our smile personal loan page.


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