George Banco personal loans review August 2019

George Banco specialises in guarantor loans for people who struggle to get finance on their own, but who still want the personal touch in customer service.

George Banco

A lender that’s been growing a name for itself since 2013, George Banco has many good reviews online. While it offers personal loans without a guarantor to some people, its guarantor loans have better rates. Having made a number of commitments on customer care, it may not be offering anything special in the rates department, but you can be sure that you and your guarantor will be treated well and staff will be on hand to help out if you need them.

Amigo Guarantor Personal Loan – Get 1 month interest-free

Borrow up to £10,000 within 24 hours with a guarantor

If a limited credit record is holding you back from the money you need, a guarantor loan can be a great option – allowing you to borrow money while building your credit score.

  • Amigo loans will not judge you based on your credit score
  • Loans of £500-£10,000 over 1-5 years
  • Loans normally paid out within 24hrs of the guarantor being accepted

Representative example: Borrow £5,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £8,782.92 in monthly repayments of £243.97.

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What is a guarantor loan?

A guarantor loan is a type of unsecured loan that is great for people in some circumstances. Having bad or little credit history can be a complete block to getting any finance, but guarantor loans mean that a close friend or family member can help you out with getting that much-needed financial boost. By agreeing to make the repayments themselves should you be unable to, they provide the security that your credit history lacks. Although guarantor loans usually have much higher rates than loans from high-street banks, taking one out responsibly can improve your credit history in the future, making it easier for you to get a loan next time.

Key features of a George Banco loan

  • Borrow between £1,000 and £7,500.
  • Borrow for 12 to 60 months.
  • Get a personalised quick quote with no impact on your credit rating. Entering just a few details will show you whether you can expect to be accepted.
  • Fixed monthly repayments. The interests rate and overall amount you pay will be decided in your contract, and your payments won’t change.
  • Quick decision. A decision will be made immediately about whether you can get a loan.
  • Quick access to funds. Most George Banco loans will be paid out the same day that you sign the contract.
  • No set-up fees. George Banko don’t charge any upfront fees for loans.
  • Repay your loan early at any time. George Banco let you pay back your loan anytime and will give you a rebate on missed interest in the final settlement. This may, however, incur a charge.

Compare guarantor loans

Table: sorted by representative APR, promoted deals first
Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.
Representative example: Borrow £6,000.00 over 3 years at a rate of 47.9% p.a. (fixed). Representative APR 47.9% and total payable £10,364.04 in monthly repayments of £287.89.
Representative example: Borrow £5,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £8,782.92 in monthly repayments of £243.97.
Representative example: Borrow £10,000.00 over 3 years at a rate of 41.2% p.a. (fixed). Representative APR 49.9% and total payable £17,566.20 in monthly repayments of £487.95.
Representative example: Borrow £10,000.00 over 3 years at a rate of 48.8% p.a. (fixed). Representative APR 48.8% and total payable £17,405.28 in monthly repayments of £483.48.

Compare up to 4 providers

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £11,000.00 over 3 years at a rate of 31.9% p.a. (fixed). Representative APR 31.9% and total payable £16,381.80 in monthly repayments of £455.05.
Representative example: Borrow £10,000.00 over 3 years at a rate of 40.9% p.a. (fixed). Representative APR 49.5% and total payable £17,507.88 in monthly repayments of £486.33.

Compare up to 4 providers

Am I eligible for a George Banco loan?

If you are interested in George Banco loan, you’ll need to meet the following criteria:

  • Be over 18
  • Have a UK bank account with a valid debit card
  • Not currently be bankrupt or subject to an IVA
  • Have a regular income
  • Be a UK resident (not including the Isle of Man or the Channel Islands
  • Be able to make the repayments

As well as this, George Banco has certain criteria for people it will accept as guarantors. As well as being a close friend or family member, they’ll need to:

  • Be between 21 and 75
  • Have a UK bank account with a valid debit card
  • Have a good credit history
  • Not currently be bankrupt or subject to an IVA
  • Live in the UK (excluding the the Channel Islands or the Isle of Man)
  • Make at least £1,000 a month
  • Be able to make the repayments if the borrower cannot

How do I apply for a George Banco loan?

  1. Get a personalised quick quote from the George Banco website.
  2. If you’re likely to be accepted you’ll get a link to send to your guarantor. They’ll then need to fill out the information required.
  3. Both your information and your guarantor’s information will be assessed and a final decision will be made.
  4. If you are accepted, a contract will have to be signed, and you should get the funds in your account the same day.

Frequently Asked Questions

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although 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, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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