Danske Bank personal loans review and calculator 2024

If you're an existing Danske Bank customer, you could take out a loan between £1,000 and £25,000 starting from 6.9%.

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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 calculator

1 - 4 of 4
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Danske Bank Existing Freedom C/Acc Customers
4.0
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.3% p.a. (fixed). Representative APR 7.3% and total payable £11,126.52 in monthly repayments of £309.07.
Danske Bank Existing Choice Plus or Prestige C/Acc Customers
4.0
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.9% p.a. (fixed). Representative APR 6.9% and total payable £11,064.60 in monthly repayments of £307.35.
Danske Bank Home Owners Personal Loan
4.0
★★★★★
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.
Danske Bank Fixed Rate Personal Loan
4.0
★★★★★
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.
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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 Fixed Rate 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

Loan amounts From £1,000 to £25,000
Loan terms From 1 year to 5 years
Age eligibility 18 years and over
Application fee No application fee
Repayment holiday Repayment holiday not permitted

Key features

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
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
Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 5 Years
Loan rate typeVariable
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
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

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?

Table: sorted by representative APR, promoted deals first

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.

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.
Lendwise
3.5
★★★★★
View details
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.
Danske Bank Existing Freedom C/Acc Customers
4.0
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.3% p.a. (fixed). Representative APR 7.3% and total payable £11,126.52 in monthly repayments of £309.07.
Danske Bank Existing Choice Plus or Prestige C/Acc Customers
4.0
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.9% p.a. (fixed). Representative APR 6.9% and total payable £11,064.60 in monthly repayments of £307.35.
Danske Bank Home Owners Personal Loan
4.0
★★★★★
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.
Danske Bank Fixed Rate Personal Loan
4.0
★★★★★
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.
Tesco Bank Personal Loan
4.5
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
Zopa Personal Loan
4.0
★★★★★
View details
Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.
Barclays Existing Current Account Loan
4.5
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.
Lloyds Bank Existing Customer Personal Loan
4.0
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.
Plend personal loan
3.5
★★★★★
View details
Representative example: Borrow £8,000 over 48 months at a rate of 16.66% p.a. (fixed). Representative APR 17.99% and total payable £11,013.12 in monthly repayments of £229.44.
Tesco Bank Clubcard Personal Loan
4.5
★★★★★
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.
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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.

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:

  • Be aged over 18
  • Have a Danske Bank account
  • Have a regular income

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 4.5 out of 5, based on more than 16,500 reviews (updated May 2024). Some customers reported a slow application process and poor customer service.

Customer support

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.

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

  • review June 2024

    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.

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