Bank Employee Loan

ACunningham21

Hi all,

Just been offered a job with RBS and all of my pre-screening checks have been cleared. Just wondering if anyone here works for NatWest Group or any other high street bank and can confirm if bank carry out credit checks for employees when the apply for a loan or credit card?

I’ve got some debt I’m looking to consolidate and I’ve checked my eligibility for a loan with other banks and it doesn’t look to good. 

TIA

ItsComingRome

Yes, they'll still credit check you.

DrEskimo

A consolidation loan is rarely a good solution to your problem. Getting more debt doesn't help your debt problems.

Focus on looking at all your spending, draw up a comprehensive budget after determining where you can cut costs and then focus on overpaying each debt.

The Debt Free Wannbe board can be very helpful and you find it useful to post there.

ACunningham21

Thanks for the advice, I’ll have a look there, only issue is I don’t have a lot of wiggle room to pay any extra on top of my regular payments. 

@ItsComingRome Do you know if they are more lenient when lending?

ItsComingRome

ACunningham21 said:

Thanks for the advice, I’ll have a look there, only issue is I don’t have a lot of wiggle room to pay any extra on top of my regular payments. 

@ItsComingRome Do you know if they are more lenient when lending?

Very unlikely.

Their rates are lower.  That really the only difference.

[Deleted User]

You don't have much wiggle room so your extra loan is unaffordable. By that I mean the banks consider a consolidation loan as (existing debt + loan), not (existing debt - loan) as you could spend the loan money on anything at all and end up with double the debt. Plus consolidation loans even if you did pay your debt, you could simply run it up again if your problems were not addressed