Personal loans allow you to borrow a fixed amount over a fixed term usually at a fixed interest rate.

• Unsecured loans (not secured against your home) are available from many lenders and are usually for amounts between £1,000 and £50,000. Customers must be at least 18 and meet the lender’s criteria and credit assessment.
• The amount of interest you pay depends on the amount you’re borrowing and how long you want to borrow it for.
• Other types of loans are Secured Loans and Payday Loans, neither of which are available through Royal Bank. 

• A credit card lets you make purchases up to a pre-arranged limit, and pay for it later, either in one go or in instalments.
• A credit card can be a flexible way of borrowing, however it is important to only borrow what you can afford.
• You'll find more information on how credit cards work in our credit cards guide.

• You should try and pay your balance in full every month. If you don’t, you will be charged interest on your balance, unless you have a special introductory offer from your card provider.
• If you can’t pay the full balance, you should make sure you pay at least your minimum payment.
• Missing a payment altogether will likely result in charges and will affect your credit score.
• It is important to understand the costs of borrowing on your credit card and only borrow what you can afford to pay back.

• If you have paid your current balance and the previous months balance in full and on time, you can take advantage of a maximum of 56 days interest free period on purchases.
• There are a number of different types of credit cards to suit peoples needs. 

• An Arranged Overdraft lets you borrow money through your current account up to a pre-agreed limit. 

• Overdrafts can be used for short-term borrowing. They can provide flexibility when you need a little extra wiggle room before pay day. 
• Once your overdraft is set up, you can use it as and when you need it.