Understanding your Bounce Back Loan

If you’ve received lending under the Bounce Back Loan scheme, including any Top-Up amount, find out more about your commitments and what you can do to prepare for when your repayments begin.

About Bounce Back Loans

  • The Bounce Back Loan scheme is a government initiative to support small and medium-sized businesses struggling with the impact of coronavirus
  • The government provides lenders like NatWest with a guarantee for 100% of the loan, should the borrower default
  • You will have to repay this loan in full including interest
  • For the full details of your specific loan and commitments, refer to the loan agreement you signed before receiving your loan
  • If you've borrowed less than 25% of the annual turnover on your original Bounce Back Loan application, you could apply for a top-up from £1,000 subject to an overall cap of £50,000. Eligibility criteria applies. More about Top-Up

Your Bounce Back Loan term

Bounce Back Loan interest rate

  • Interest on your Bounce Back Loan, including any Top-Up amount, is fixed at 2.5% per year
  • Interest is calculated and accrued daily
  • Interest during the first 12 months will be paid by the government. Remember that you are responsible for paying back the whole loan, including any interest accrued after the first 12 month period

Your Bounce Back Loan repayments

12 month repayment holiday
  • Upon drawdown, we applied an automatic 12 month repayment holiday, including any top up amount
  • Your repayments are due to start 1 month after the repayment holiday ends

Making your payments
  • You can make extra repayments or repay the loan early without penalty
  • Under your agreement, you must repay the loan and interest in full by the final repayment date


Your repayment account
  • If you have a current account with us, we’ll take payments due from this account
  • You’ll need to monitor the balance of this account to avoid going overdrawn or exceeding any limit


Bounce Back Loan repayment holiday updates

Preparing for your repayments to begin

More questions about Bounce Back Loans?

Visit our Frequently Asked Questions to find further guidance and support

Get the right support during coronavirus

Tell us about your current situation and we'll highlight the actions that could help your business recover and move forward.

If you need to get in touch…

The quickest way to get in touch is via our webchat service, Cora. Using webchat, you can:

  • get help with an existing loan
  • talk to us about other support

If you are using Relay UK call 18001 0345 711 4477
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Calls may be recorded for training and monitoring purposes.
To find out how much your call might cost, see our call charge information.

Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy.

British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.

Visit british-business-bank.co.uk.

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