For those whose credit record is less than perfect and might have struggled to get approved for a loan, the specialist lender Bamboo offers fixed-rate unsecured personal loans. Loan amounts between £2,000 and £15,000 starting from 69.9%.
If you're looking for speed and ease, Bamboo offers a quick and simple application process to secure a personal loan. With their excellent customer service, you can get quick answers to any queries. A bad or low credit score may limit your options, but with Bamboo's free quote service, you can check the likelihood of being approved for a Bamboo loan without damaging your credit report. However, as with all loans, if you can’t make the repayments, you risk damaging your credit score.
Pros
Repeat or top-up loans available to eligible existing customers
Same-day funding available
Cons
You must have a fair to good credit profile
High APR on smaller loans
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £17,566.20 in monthly repayments of £487.95.
If you’re looking to borrow from £2,000.00 to £15,000.00 and don’t have excellent credit, a Bamboo personal loan could be worth a closer look.
Because this loan comes with a fixed interest rate, you’ll know in advance what you’ll be paying each month and overall.
You don’t need to own a home to apply (and if you do, your home won’t be used to secure your loan).
Bamboo loan calculator
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How do Bamboo loans compare against the competition?
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Key details
Loan type
Unsecured Personal Loan
Loan amounts
£2,000.00 to £15,000.00
Loan terms
12 Months to 60 Months
Loan rate type
Fixed
Product fee
0%
Same-day funding available
Same-day funding note
For applications approved and completed prior to 3pm.
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methods
Cheque, Standing Order
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £17,566.20 in monthly repayments of £487.95.
Am I eligible?
Available to
New or Existing Customers
Age
18 or over
Residency
UK resident (not including the Isle of Man and Channel Islands)
Credit profiles
Fair
Additional requirements
Must have a UK bank account and a valid UK debit card
How do I apply?
The online form on Bamboo’s site should only take 10–15 minutes. As well as the usual personal info, you’ll need to submit details of your income and employment plus your address history for the last 3 years.
You’ll normally receive an instant decision, which is based on factors like your income, expenditure and credit history. If you are offered a loan, take a close look at the offer – rates are tailored to the individual. So you might not be offered the advertised representative APR.
Bamboo states the funds could be in your bank account the same day, provided you’re approved by 3pm. This doesn’t include weekends or bank holidays.
Bamboo customer reviews
Bamboo has received positive reviews from customers, according to review platform Trustpilot. It currently has an “excellent” rating of 4.9 from over 29,000 reviews (updated July 2023). Many customers praised the simple, quick and straightforward application process.
Customer support information
You can contact Bamboo by phone on 0330 1596010 or by email at contactus@bambooloans.com with any queries.
Our verdict
If you’re looking for speed and ease, Bamboo offers a quick and simple application process to secure a personal loan. With their excellent customer service, you can get quick answers to any queries. A bad or low credit score may limit your options, but with Bamboo’s free quote service, you can check the likelihood of being approved for a Bamboo loan without damaging your credit report. However, as with all loans, if you can’t make the repayments, you risk damaging your credit score.
Frequently asked questions
In most cases, if an agreement is signed before 3pm on a weekday, the funds should be transferred to your bank account before midnight that day. If signed after 3pm or on a weekend/bank holiday, funds should be in your bank account by 1pm the next weekday.
Bamboo does not charge any upfront fees for loans.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
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