George Banco loans review 2022
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.
Important: George Banco no longer offer personal loans, but this page has been preserved for historical purposes. You can compare other personal loans here.
What is 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.
What is a guarantor loan?
A guarantor loan is a type of unsecured loan that can suit people in specific 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 reassurance 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
George Banco loans come with a fixed interest rate, which means that the overall amount you pay will be set out in your contract and your monthly repayments payments won’t change (although you can overpay if you want). There are no upfront fees and no neither the applicant or guarantor are required to provide loan security.
|Loan type||Unsecured guarantor personal loan|
|Loan amounts||£1,000 to £15,000|
|Loan terms||1 year to 5 years|
|Loan rate type||Fixed|
|Same day funding available|
|Same day funding note||Once George Banco has received your completed application, its underwriting team will review all details and will usually contact you within 2 hours. If your loan is approved, the funds will be sent to your Guarantor's current account – usually within 24 hours of application.|
|Instant decisions in most cases|
|Overpay without penalty|
What about George Banco’s competition?
Am I eligible for a George Banco loan?
If you are interested in George Banco loan, you’ll need to meet the following criteria:
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:
How do I apply for a George Banco loan?
- Get a personalised quick quote with no impact on your credit rating. Entering just a few details will show you whether or not you can expect to be accepted.
- 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.
- Both your information and your guarantor’s information will be assessed and a final decision will be made.
- If you are accepted, a contract will have to be signed, and you should get the funds in your account the same day.
George Banco customer reviews
George Banco has received positive reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.7 out of 5, based on more than 8,000 reviews (updated 9 April 2021). Many customers praised the excellent service, though others reported issues with payments being taken out unexpectedly.
Frequently asked questions
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