Smile

Your debt can be something of the pass, now that's something to Smile about.

Before you apply for a debt consolidation loan, we require you to meet the following requirements:

• Aged 18 or over.
• UK resident.
• Earning a minimum gross annual income of £10,000.
• An existing customer who has held a Co-operative Bank or smile current account for at least seven months
• You are required to not be in arrears or have not missed more than two payments on any credit agreement (including payday loans) for at least six months.
• One applicant must be employed whether full time, part time, self-employed or retired, with joint accounts.
• Consolidating an existing Co-operative Bank loan is subject to having made no less than six repayments on your existing loan.
• Should you be applying for a joint loan account, both applicants must be aged 18 or over, UK residents and reside at the same address.

Quick, easy online application

To apply for a debt consolidation loan only takes about 10 minutes, provided that you have all the information you require on hand. Even if you have submitted your loan application, you have no obligation to finalise a smile loan.

A standing order will be set up when you take out a loan, which means you will repay a fixed amount from your bank account for the repayment term of the loan.

How to set up a standing order

So we have accepted your loan application, you will then send you a standing order mandate along with your contract information. Should you enter into the loan agreement, you can simply complete, sign and return the mandate to us. Return the signed loan agreement and mandate in the pre-paid envelope that we have provided. Should the repayments be paid directly from your smile current account, we will complete the form on your behalf.

What you need to apply

You will be requested to provide the following information when applying for a loan:

• Your income and expenses each month.
• Your previous addresses from the last three years.
• The account number and sort code for your main current account.

Apply in only 10 minutes

You can apply in as little as 10 minutes if you have all the information we need. You should know if your application has been successful within 24 hours, provided that you applied on a business day. If your application has to be referred to our specialist team, we will usually come back with a decision within two business days.

What happens next?

You will have a decision on your personal loan and transfer of funds within five working days after submitting your application.