Important: George Banco no longer offers personal loans to new customers, but this page has been preserved for historical purposes. You can compare other guarantor 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 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 financing, but guarantor loans mean that a close friend or family member can help you get that much-needed financial boost. By agreeing to make the repayments themselves if you cannot, 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 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 is set out in your contract, and your monthly repayments won’t change (although you can overpay if you want). There are no upfront fees, and neither the applicant nor the guarantor is 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
Product fee
0%
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
George Banco customer reviews
George Banco has received positive reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.5 out of 5, based on more than 7,900 reviews (updated June 2023). Many customers praised the excellent service, though others reported issues with payments being taken out unexpectedly.
Existing customers
George Banco decided to stop offering new loans to customers. This will not impact how they support you if you have an existing loan with them. No further borrowing will be approved, and all existing loans will be paid off at their scheduled maturity dates or early as prepayment.
Frequently asked questions
A guarantor is a close friend or family member who agrees to help you get a loan by saying they will pay any repayments if you can’t meet them.
The payment is made into your guarantor’s bank account on the same day you sign the contract. It is then up to them to pass the money to you.
Yes, you send them written confirmation of the amount and the date you wish to settle your loan. Then they will send you a final settlement figure, including a rebate on the interest you haven’t accrued.
No, payments are fixed for the duration of your loan.
You should always contact your loan provider before a problem occurs. George Banco will always try to come to an arrangement with you before contacting your guarantor, but if one can’t be reached, your guarantor is liable for the payments and will be contacted.
George Banco has a track record as a trusted loan provider and is regulated by the Financial Conduct Authority as a trading name of Everyday Lending (FCA reference no. 724445).
No, a person can only be a guarantor on one George Banco loan at a time.
Many guarantor loans are not given to people whose guarantor is a cohabiting spouse. However, George Banco will consider spouses as long as they have demonstrably separate finances.
No, George Banco considers you for a loan as long as you can demonstrate that you can make the payments.
Yes, as long as it is not a current bankruptcy, your application will be considered. However, your credit history is taken into account, so it might still work against you.
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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
Chris's expertise
Chris has written 615 Finder guides across topics including:
Moneyfarm and Vanguard are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in Vanguard vs Moneyfarm.
Vanguard and InvestEngine are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in InvestEngine vs Vanguard.
Vanguard and AJ Bell are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in AJ Bell vs Vanguard.
Nutmeg and Vanguard are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in Vanguard vs Nutmeg.
We explore your options for opening a bank account with an IVA.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
