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Personal loans

At Trusted Novus Bank, we understand that from time to time everyone needs that extra cashflow to help with big decisions, such as buying a car, for home improvement, or saving towards educational fees.  

A personal loan will allow you to borrow an amount of money, which you pay back in monthly instalments over a set period of time – usually between 1 and 10 years.  

Depending on what you need your loan for, you can choose to pay it over a shorter or longer period of time.  

How does it work?  

  1. We will have an initial meeting with you to discuss your options. This is subject to application, financial circumstances and borrowing history.  
  2. You will receive your personalised meeting summary including fees and interest rate levels, which will allow you to take the decision as to whether it suits your requirements. 
  3. Once your loan is approved, you will receive a payment plan to repay your loan back over your agreed term.

For more information visit our Customer Journey

Are you eligible? 

In order to find out if you are eligible for a Personal Loan, we will assess your income and expenditure, assets and liabilities. This will help us determine the level of borrowing you are eligible for.  

You must also be a Gibraltar resident and employed locally in an established and stable employment.  

Below is an illustrative example of the repayment plan for a Personal Loan offered by Trusted Novus Bank.  

Please note overall rate subject to change in line with Bank of England Base Rate.

Personal Loan Type Capital and interest (Serial loan)
Amount borrowed £20,000
Term 5 Years
No. of Monthly instalments 60

Other costs:  Arrangement fee

Borrowing rate 10%
(plus Base Rate)
Initial payment £500
Total interest payable £5,233.33
Total amount repayable £25,233.33
Security required Unsecured

Would you like to learn more? 

If you wish to see specific information based on your circumstances please contact your Relationship Manager at Trusted Novus Bank. We look forward to hearing from you.