Bamboo unsecured personal loan review

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 49.7%.

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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.
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 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.
Bamboo Personal Loan
Check eligibility

49.7% APR representative (Fixed)

Maximum loan

£15,000

Product fee

N/A

Early redemption fee

£0

What is Bamboo?

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

1 - 1 of 1
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Bamboo Personal Loan
4.0
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.
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How do Bamboo loans compare against the competition?

1 - 4 of 12
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 24.9% pa (fixed). Representative APR 27.9% and total payable £7,939.24 in monthly repayments of £165.40.
Fluro (formerly Lending Works) Personal Loan
4.0
★★★★★
Check eligibility
View details
Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.
thinkmoney Personal Loan
1.5
★★★★★
View details
Representative example: If you borrow £29,100 over 12 years, initially on a fixed rate for 5 years at 8.885% and for the remaining 7 years on the Lender's standard variable rate of 9.285%, you would make 60 monthly payments of £375.53 and 84 monthly payments of £380.29.
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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 typeUnsecured Personal Loan
Loan amounts£2,000.00 to £15,000.00
Loan terms12 Months to 60 Months
Loan rate typeFixed
Product fee0%
Same-day funding available
Same-day funding noteFor 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 methodsCheque, Standing Order
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.

Am I eligible?

Available toNew or Existing Customers
Age18 or over
ResidencyUK resident (not including the Isle of Man and Channel Islands)
Credit profilesFair
Additional requirementsMust 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

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.
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Written by

Head of publishing

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. See full bio

Chris's expertise
Chris has written 611 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health

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