George Banco loans review 2020

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.

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George Banco
George Banco Guarantor Loan

George Banco guarantor loans

  • Borrow £1,000 to £15,000 over 1 year to 5 years
  • Get an instant quote that won't hurt your credit score
  • All circumstances considered

Representative example: Borrow £3,500 over 3 years at a rate of 49.1% p.a. (fixed). Representative APR 61.8% and total payable £6,750.36 in monthly repayments of £187.51.

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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 typeUnsecured guarantor personal loan
Loan amounts£1,000 to £15,000
Loan terms1 year to 5 years
Loan rate typeFixed
Product fee0%
Same day funding available
Same day funding noteOnce 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?

Table: sorted by representative APR, promoted deals first
Name Product Total Payable Monthly Repayment Representative APR Link
TFS Loans Guarantor Loan
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View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 39.9% p.a. (fixed). Representative APR 39.9% and total payable £16,091.64 in monthly repayments of £446.99.
Bamboo Guarantor Loan
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View details
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.
UK Credit Limited Tenant Guarantor Loan
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View details
Representative example: Borrow £5,000.00 over 3 years at a rate of 39.9% p.a. (fixed). Representative APR 39.9% and total payable £8,045.64 in monthly repayments of £223.49.
Amigo Guarantor Personal Loan
Check eligibility
View details
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.
Trusttwo Trusttwo (Tenant Guarantor) Personal Loan
Check eligibility
View details
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.
1plus1 Loans Guarantor Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 47.8% p.a. (fixed). Representative APR 47.8% and total payable £17,259.12 in monthly repayments of £479.42.
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Compare up to 4 providers

Name Product Total Payable Monthly Repayment Representative APR Link
UK Credit Limited Homeowner Guarantor Loan
Go to site
View details
Representative example: Borrow £14,000.00 over 3 years at a rate of 29.9% p.a. (fixed). Representative APR 29.9% and total payable £20,426.40 in monthly repayments of £567.40.
Trusttwo Trusttwo (Homeowner Guarantor) Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.5% p.a. (fixed). Representative APR 49.5% and total payable £17,507.88 in monthly repayments of £486.33.
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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.

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 (net)
  • 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 with no impact on your credit rating. Entering just a few details will show you whether or not you can expect to be accepted.
  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 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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