Danske Bank Personal Loan review March 2023

Danske Bank Personal Loan
Danske Bank Personal Loan

If you live in Northern Ireland, Danske Bank fixed rate personal loans can be a flexible option to consolidate your debt or spread an unexpected cost.

Danske Bank is a subsidiary of Danske Bank group, a Danish banking group that serves around 2.8 million customers. In the UK, Danske Bank is only active in Northern Ireland, where it was formed in 1809 as Northern Bank. Northern Bank took the name of its parent company in 2012.

Danske Bank offers a fee-free, unsecured personal loan option that lets you borrow between £1,000 and £25,000 for 1 to 5 years. It allows you to make overpayments as often as you like, granting a good deal of flexibility if you’re hoping to repay your loan a bit earlier than planned, or to lighten your monthly payments towards the end.

If you apply in branch, you may be able to get same-day funding – which means that once you’ve been accepted, you can drive directly from the bank to the travel agency, the car dealer or the furniture shop, and start planning your trip, new car or home refurbishment right away.

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Name Product Total Payable Monthly Repayment Representative APR Link
Danske Bank Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.2% p.a. (fixed). Representative APR 6.2% and total payable £10,956.60 in monthly repayments of £304.35.
Late repayments can cause you serious money problems. See our debt help guides.

Key details

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 5 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Same day funding noteBranch applications only.
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 methodsStanding Order
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.2% p.a. (fixed). Representative APR 6.2% and total payable £10,956.60 in monthly repayments of £304.35.

Am I eligible?

Available toExisting Customers only
Age18 or over
Income£16000.00 Per Annum
Credit profilesGood
Acceptance noteMinimum Applicant Income £16,000 Per Annum

How do I apply?

Before applying, always compare options and use an eligibility checker – a tool that will run a “soft-check” on your credit profile and tell you if you’re likely to be approved, with no impact on your credit score. Once that’s sorted, you have two main ways to apply for a Danske Bank personal loan:

  • Online. In order to be able to apply online, you need to be registered with Danske Bank’s online banking facilities. If you’re a Danske Bank customer but aren’t registered, you can do it by submitting a form from their website.
  • In branch. If you are a new customer, or an existing one who would like to have a chat with someone from the staff before signing up, you can apply in branch, or give Danske Bank a call.

In both cases, be prepared to provide them with a proof of identity and address, and details of your income and financial situation.

Finally, loan repayments can only be made from a Danske Bank personal current account, so if you’re a new customer, you’ll be asked to open one. With some of Danske Bank current account options, you can get a discount on the interest rate of your personal loan.

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