Contemplating the holiday of a lifetime, or perhaps a new car? A flexible, fixed-rate loan from Danske Bank allows you to spread the cost. It’s straightforward to start an application online at the Danske Bank site, but you will need to go into a branch or speak to an advisor on the phone to complete the process.
Danske Bank loan rates at a glance
The Danske Bank Existing Freedom C/Acc Customers charges 7.3% APR representative on loans between £10,000 and £25,000. Danske Bank offers the loan with repayment terms between 1 and 5 years, and applicants can apply to borrow from £1,000 to £25,000.
The Danske Bank Existing Choice Plus or Prestige C/Acc Customers charges 6.9% APR representative on loans between £10,000 and £25,000. Danske Bank offers the loan with repayment terms between 1 and 5 years, and applicants can apply to borrow from £1,000 to £25,000.
The Danske Bank Home Owners Personal Loan charges 7.4% APR representative on loans between £1,000 and £25,000. Danske Bank offers the loan with repayment terms between 1 and 5 years, and applicants can apply to borrow from £1,000 to £25,000.
The Danske Bank Personal Loan charges 7.4% APR representative on loans between £10,000 and £25,000. Danske Bank offers the loan with repayment terms between 1 and 5 years, and applicants can apply to borrow from £1,000 to £25,000.
Who is Danske Bank?
Danske Bank, a trading name of Northern Bank, is one of the major banks in Northern Ireland. With headquarters in Copenhagen, it is the largest bank in Denmark and one of the leading financial enterprises in northern Europe.
Danske Bank stipulates that personal loan repayments must be made from a Danske Bank current account. If you’re a Danske Freedom, Choice or Prestige account customer, you may get a better rate. Unlike many personal loan providers, Danske Bank allows you to
make a single or joint application with a partner or family member.
Quick overview of Danske Bank personal loans
|Representative APR||From 6.9% to 7.4%|
|Loan terms||From 1 year to 5 years|
|Loan amounts||From £1,000 to £25,000|
|Age eligibility||18 years and over|
|Application fee||No application fee|
|Repayment holiday||Repayment holiday not permitted|
What is APR?If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
How do Danske Bank personal loans compare against the competition’s?
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind.
Am I eligible for a Danske Bank personal loan?
You should only apply for a Danske Bank personal loan if you’re certain you can meet the repayment terms. You must also:
Although Danske Bank personal loans are not advertised as being secured, the website does suggest that an indemnity or guarantee may be required, for which you will also be charged a fee.
How do I apply?
You will need to log in to your Danske Bank online banking account to fill out an application form. Select how much you would like to borrow and over what term.
You will also be required to provide personal, banking, income and expenditure details. To complete the application, you will need to either go into a branch or speak to an advisor on the phone. You can request an appointment or a callback using a form on the bank’s website.
Danske Bank customer reviews
Danske Bank has received average reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.3 out of 5, based on more than 12,000 reviews (updated June 2023). Some customers reported a slow application process and poor customer service.
For personal banking queries, you can call Danske Bank on 0345 600 2882, or alternatively you can use the online chatbot found on their website.
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review December 2023
Based in Northern Ireland, Danske Bank offers a solid fee-free personal loan option. Find out how it works and compare it to its competitors’ deals.