Personal Loan rates and details

All the detail you need to know about Rafidain Bank Personal Loans from £1,000 to £25,000 for up to 5 years for our main current account customers.

All loans are subject to status and are available to UK residents aged 18 to 79 only. The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Rafidain Bank Personal Loans cannot be used for business or investment purposes, bridging loans, mortgage deposits or speculative reasons.

Representative Example

3.6% APR Representative (fixed). Based on an assumed loan amount of £10,000 over 60 months at an interest rate of 3.6% p.a. (fixed). Monthly repayment £182.11. Total amount payable £10,926.60.

Loans Summary Box

Key information for our Personal Loan
Key information for our Personal Loan from £1,000 up to £25,000 for up to 5 years for our main current account customers
Representative APR	Representative 3.6% APR. If successful, the interest rate you will pay is based on your personal circumstances and the amount you choose to borrow.

Interest rate ranges for loans over 1-5 years

Loan Size Range
Loan Size Range	From (%)	To (%)	Indicative APR (%)
£1,000 - £2,999	6.9%	19.9%	13.7%
£3,000 - £4,999	7.4%	19.9%	10.7%
£5,000 - £7,499	4.5%	19.9%	4.5%
£7,500 - £14,999	3.6%	19.9%	3.6%
£15,000 - £20,000	3.9%	19.9%	3.9%
£20,001 - £25,000	3.9%	19.9%	3.9%

Interest charging information
Interest charging information
Type of interest on my loan?	Fixed rate
Basis of interest calculation?	Daily in arrears

Repayment information
Repayment information
What is the method and frequency of repayment?	Monthly by Direct Debit
When is my first monthly payment due?	1 month after loan issue
Can I take a payment holiday?	No
Can I defer the payments at the start of my loan?	No

Repayment period
Repayment period	Loans are available between 1 and 7 years
Amount of loan available	Loans are available from £1,000 to £25,000 in £50 multiples
Application/Arrangement fee	None
Other fees	None
Default fees	None
Early settlement	Your settlement quotation is valid for 28 days from the date of your request and includes interest up to and including this date. If your loan term is greater than 12 months you will pay an additional 30 days interest.

What can you afford?

Before applying for a Loan it's important you take into account your individual budget and what you can afford to pay back each month. For help planning your budget, you may want to use our handy budget calculator.

Looking for a loan for more than 5 years?

If you need a Personal Loan for longer than 5 years, you'll need to provide us with a few details so that we can give you a personalised loan quote. Please click apply now (or retrieve a quote you've started) to begin the online application. You'll be offered a no-obligation personal loan quote that won't affect your credit rating.

Rafidain Bank subscribes to the Lending Code, find out what this means with the The Lending Code (PDF) guide.

Take out a Rafidain Bank Personal Loan today

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Or retrieve a quote you've started

If you have any questions about an application you have already made online, please call +44 783 974 9373 and select option 5.

Rafidain Bank subscribes to the Lending Code. For more information on the Lending Code please visit .

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Rates and details