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 Β£2,000 and Β£15,000 starting from 69.9%.

No reviews yet. Write a review

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 Β£10,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable Β£17,566.20 in monthly repayments of Β£487.95.
Bamboo Personal Loan
Check eligibility

69.9% APR representative (Fixed)

Maximum loan

Β£15,000

Product fee

N/A

Early redemption fee

Β£0

What is Bamboo?

If you’re looking to borrow from Β£2,000.00 to Β£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 Ratings Customer rating Finder score Total Payable Monthly Repayment Representative APR Link
Bamboo Personal Loan
Finder score
β˜…β˜…β˜…β˜…β˜…
β˜…β˜…β˜…β˜…β˜…
User rating
β˜…β˜…β˜…β˜…β˜…
Expert analysis
Check eligibility
View details
Representative example: Borrow Β£10,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable Β£17,566.20 in monthly repayments of Β£487.95.
loading

How do Bamboo loans compare against the competition?

Name Product Ratings Customer rating Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
Finder score
β˜…β˜…β˜…β˜…β˜…
β˜…β˜…β˜…β˜…β˜…
User rating
β˜…β˜…β˜…β˜…β˜…
Expert analysis
Check eligibility
View details
Representative example: Borrow Β£10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable Β£11,142.00 in monthly repayments of Β£309.50.
My Community Bank Personal Loan
Finder score
β˜…β˜…β˜…β˜…β˜…
Not yet rated
β˜…β˜…β˜…β˜…β˜…
Expert analysis
Check eligibility
View details
Representative example: Borrow Β£5,000 over 48 months at a rate of 25.0% pa (fixed). Representative APR 28.1% and total payable Β£7,955.24 in monthly repayments of Β£165.73.
Fluro (formerly Lending Works) Personal Loan
Finder score
β˜…β˜…β˜…β˜…β˜…
Not yet rated
β˜…β˜…β˜…β˜…β˜…
Expert analysis
Check eligibility
View details
Representative example: Assumed borrowing of Β£7,500.00 over 48 months at 17.9% APR representative. Monthly cost of Β£214.79. Total amount repayable of Β£10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of Β£150.00. Available for loan amounts between Β£5,000 - Β£25,000.
Lendwise
Finder score
β˜…β˜…β˜…β˜…β˜…
Not yet rated
β˜…β˜…β˜…β˜…β˜…
Expert analysis
View details
loading

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 amountsΒ£2,000.00 to Β£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 Β£10,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable Β£17,566.20 in monthly repayments of Β£487.95.

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 β€œexcellent” 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.

More guides on Finder

  • When will interest rates come down in the UK?

    Some of the UK’s brightest minds in economics and property share their interest rate predictions ahead of the next Bank of England base rate meeting.

  • Lenders that use Open Banking 2024

    Learn more about how Open Banking works and how it could benefit you.

  • 999 credit score but refused a loan?

    Learn more about what you can do if you’ve been refused a loan with a 999 credit score.

  • How to refinance your personal loan

    Paying too much in interest? Find out how you could save hundreds or even thousands by refinancing your personal loan to a lower rate.

  • What documents do you need to apply for a personal loan?

    Applying for a personal loan should be a stress-free experience. Here’s what lenders need to verify your income, employment, identity and more.

  • What can you use a personal loan for?

    From renovating your home to consolidating debt, discover different situations where a personal loan might help.

  • Season ticket loans

    With ever-rising public transport costs, it’s more important than ever to find the cheapest way to fund your commute. Here’s how to weigh up the options and find what works for you.

  • Compare joint loans

    Taking out a joint personal loan is a major commitment, but one that could help you to borrow larger sums at competitive rates.

  • Loans for an engagement ring

    Want to pop the question but worried about what it’ll do to your bank account? We’ve got the guide to ease your worries so you can focus on finding the perfect ring.

  • Repaying a personal loan early

    If you have a personal loan and you want to make overpayments or simply pay it off in full ahead of time, you’re protected by the Consumer Credit Act. Here’s what you need to know.

Go to site