First Trust Bank

First Trust Bank personal loans review July 2019

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.

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.

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

Comparison ordered by representative APR with affiliated products shown first. Rates updated 19 Jul 2019.

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
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.5% p.a. (fixed). Representative APR 5.5% and total payable £10,848.60 in monthly repayments of £301.35.
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.
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.
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.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £10,478.16 in monthly repayments of £291.06.
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.
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

Important information:
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

warning icon Warning: 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

Post Office Money® Personal Loan
Post Office Money® Personal Loan
APRs from 3%
(on loans between £15,001 and £25,000 over 12-84 months).

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.

M&S Bank Personal Loan
M&S Bank Personal Loan
APRs from 2.8%
(on loans between £7,500 and £20,000 over 12-36 months).

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.

AA Non-Member Loan
AA Non-Member Loan
APRs from 3%
(on loans between £15,001 and £25,000 over 12-84 months).

Representative example: Borrow £10,000.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £10,478.16 in monthly repayments of £291.06.

Shawbrook Bank Personal Loan
Shawbrook Bank Personal Loan
Personalised rates with representative APR 12.9%

Representative example: Borrow £10,000 over 5 years with representative APR 12.9% (fixed) and total payable £13,405.80 in monthly repayments of £223.43.

*Disclaimer: The offers compared on this page are chosen from a range of products whose details Finder has access to track; they don't represent all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The terms "best", "top", "cheap" (and variations) are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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