Danske Bank Fixed Rate Personal Loan review April 2024

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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. Danske Bank was formed in 1809 as Northern Bank. Northern Bank took the name of its parent company in 2012. In 2022 they began to offer select banking services to customers in Great Britain.

Danske Bank offers a fee-free, unsecured personal loan option that lets you borrow from £1,000.00 to £25,000.00 for 1 Year 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.

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Name Product Ratings Customer rating Finder score Total Payable Monthly Repayment Representative APR Link
Danske Bank Fixed Rate Personal Loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
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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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 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.

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 on 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 fill out an online form to book a meeting and then 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.

Customer support information

You can contact Danske Bank by phone on 0345 6002882 or through the online chatbot on their website with any queries you may have. Alternatively, you can visit your nearest branch.

Danske Bank customer reviews

Danske Bank has received positive reviews from customers, according to review platform Trustpilot. It currently has an “excellent” rating of 4.3 out of 5, based on more than 12,000 reviews (updated July 2023). Many customers commended their excellent customer service, provision of services and reliability.

Our verdict

If you’re looking for a fee-free and flexible personal loan option then Danske Bank is a good option to consider. Not to mention, you can benefit from speaking to an adviser over the phone or face to face in branch before taking out a personal loan. However, if you can’t make the repayments, you run the risk of 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 is provided by Moneyfacts.
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