First Trust Bank personal loans review 2020

If you're planning home improvements, a new car or a wedding, a fixed rate personal loan from First Trust Bank could offer you the financial flexibility you need.

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First Trust Bank

Ireland-based First Trust Bank is a trademark of Allied Irish Banks (AIB) UK. If you’re approved for a personal loan with First Trust Bank, it will act as a lender not as a broker.

Unlike many of its competitors, the interest rate you’re offered on a personal loan with First Trust Bank will not vary depending on your individual circumstances. Under its “fairness guarantee”, the rate you’re quoted when you apply will be the one you get.

A personal loan can be used for anything from medical or vet’s fees to home improvements, a new car, wedding or furniture. Paying a large amount at one time can be difficult, but First Trust Bank can help you pay the money back over a set period with a competitive fixed rate loan. It’s quick and simple to apply online at the First Trust Bank website.

To be eligible, you must already hold a personal current account with First Trust Bank.

Post Office Money® Personal Loan

Fast, flexible loans from Post Office Money

  • Borrow from £1,000 to £25,000
  • Instant decision in most cases
  • Fixed rate and fixed monthly payments over the whole term
  • Applications from self-employed considered

Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.

Promoted

How do First Trust Bank personal loans hold up against the competition?

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 from a range of lenders.

Name Product Total Payable Monthly Repayment Representative APR Link
Hitachi Personal Finance Hitachi Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.2% p.a. (fixed). Representative APR 3.2% and total payable £10,493.64 in monthly repayments of £291.49.
NatWest Existing Customer Personal Loan (specific eligibility criteria apply)
Go to site
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
Post Office Money® Personal Loan
Check eligibility
View details
Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.
Royal Bank of Scotland Existing Customer Personal Loan (specific eligibility criteria apply)
Go to site
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
AA Member Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.0% p.a. (fixed). Representative APR 3.0% and total payable £10,462.68 in monthly repayments of £290.63.
Zopa Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 5 years at a rate of 8.8% p.a. (fixed) with an application fee of £240.00. Representative APR 9.9% and total payable £12,602.87 in monthly repayments of £210.05.
Lloyds Bank Existing Customer Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.
Lending Works Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.8% p.a. (fixed) with an application fee of £0.00. Representative APR 10.0% and total payable £11,543.40 in monthly repayments of £320.65.
M&S Bank Personal Loan
Go to site
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.

Compare up to 4 providers

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 features of First Trust Bank personal loans:

  • Spread your loan over one to five years. Spread the cost of your loan over 12, 24, 48 or 60 months.
  • Borrow £5,000 to £25,000. The maximum amount you can borrow will be determined by your credit score and affordability.
  • Available to First Trust Bank customers only. To be eligible, you must already hold a personal current account with First Trust Bank.
  • No arrangement fee. First Trust Bank will not charge you a fee for taking out your loan.
  • Fixed monthly repayments. You’ll pay the same amount each month, helping you to budget. This also means the overall cost of the loan will be clear from the start.
  • Penalty-free early repayment. You can settle your loan partially or in full at any time without any penalty charges.
  • Sole applicants only. First Trust Bank doesn’t offer personal loans to joint applicants.
  • Fairness guarantee. As long as your application is successful, the interest rate you’re offered when you apply will be the one you receive.

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 that lenders are only obliged to award this rate to 51% of those who take out the loan and the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for a First Trust Bank personal loan?

You should only apply for a First Trust Bank personal loan if you’re certain you can meet the repayment terms. You must also:

  • Have a First Trust Bank personal current account
  • Be aged 18 or over
  • Have a good credit history

How can I apply?

  • You can apply for a First Trust Bank personal loan through your online banking or via the app.
  • You must be an existing personal current account customer and be registered for online services.
  • Fill out the simple online application form which should take around 10 minutes. It will ask for your address history and details about your employment and outgoings.
  • To find out the decision, simply log back in to your online account or app.

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.

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