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Calculating consolidation

Debt can be difficult to master, particularly if it’s spread across lots of different places. It might be easier to manage if you can bring it all together in one personal loan. Start by adding up everything you owe. Find out about early repayment fees and add them in. Then take a look at our personal loan calculator to see if a single loan is a more affordable option. Please remember that consolidating existing borrowing and extending the term of your debt can incur more interest and end up costing you more in the long run.

A Virgin Money Personal Loan offers:

*Bear in mind: Repaying your loan early will incur up to 58 days of additional interest on the amount you repay. But don't worry - we'll make sure you know exactly what the full repayment amount will be before you commit.

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Representative example

Total amount payable Includes interest
Based on borrowing

Monthly repayments
Paid over years

Fixed interest rate per annum
Representative APR

All loans are subject to status and eligibility and you must be over 18 and a UK resident to apply. The interest rate we offer you is based on your loan requirements and individual circumstances. The minimum rate we offer is 2.9% APR and the maximum rate is 28.9% APR.

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Popular questions about loans

If you’re applying entirely online, through the app or in one of our stores, then your money will be with you really quickly once your application has been approved. This will usually be within 2 hours or at the very latest by the end of the next day.

If you’re going old school and doing it by paper or over the phone, you’ll still need to sign your Loan Agreement. As soon as we’ve got what we need from you, we’ll send your money to the bank account you’ve told us to send it to. Again, this will usually be within 2 hours or by the end of the next day.

Credit scoring is how we decide whether you’re likely to pay the loan back. It’s based on your credit history, your income and the amount you spend each month. Essentially, it’s all about statistics: our scoring system allocates a certain number of points to the details you provide in your application, which is why it’s important to be absolutely accurate. We also look at your bank account(s) and ask a credit reference agency to create a historical report of your credit activities. The result is a score that helps us decide whether or not to lend to you.

So, we can work out whether you can afford the loan you’re asking for, we need to know:

  • How much you earn, before tax, each year. You can include your salary plus any pensions, allowances, regular overtime or commission payments and any additional income from, for example, rentals or interest from investments.
  • How much you spend each month on mortgage or rent, personal loans, credit cards and any higher purchase agreements.
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