My Community Bank personal loans review 2025

My Community Bank connects borrowers to ethical lenders such as credit unions through its Community Finance Network.

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My Community Bank

My Community Bank loan rates at a glance

The My Community Bank Personal Loan charges 27.1% APR representative on loans between £1,500 and £25,000. My Community Bank offers the loan with repayment terms between 12 and 60 months, and applicants can apply to borrow from £1,500 to £25,000.

Compare My Community Bank loans

Product Finder Score Customer rating Loan amounts Loan terms Loan rate type
My Community Bank logo
Finder score
Not yet rated
£1,500.00 to £25,000.00
12 months to 60 months
Fixed
Representative example: Borrow £5,000 over 48 months at a rate of 24.2% pa (fixed). Representative APR 27.1% and total payable £7,853.87 in monthly repayments of £163.62.
Check eligibilityView details
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Finder Score for unsecured loans

To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.

Read the full methodology

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

Late repayments can cause you serious money problems. See our debt help guides.

How does My Community Bank compare against other lenders?

Table: sorted by representative APR, promoted deals first
1 - 4 of 39
Product Finder Score Total Payable Monthly Repayment Representative APR
Admiral logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 12.9% p.a. (fixed). Representative APR 12.9% and total payable £11,990.52 in monthly repayments of £333.07.
Check eligibilityView details
Novuna Personal Finance logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
Check eligibilityView details
My Community Bank logo
Finder score
Representative example: Borrow £5,000 over 48 months at a rate of 24.2% pa (fixed). Representative APR 27.1% and total payable £7,853.87 in monthly repayments of £163.62.
Check eligibilityView details
M&S Bank logo
Finder score
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.0% p.a. (fixed). Representative APR 6.0% and total payable £10,925.64 in monthly repayments of £303.49.
Check eligibilityView details
loading

Finder Score for unsecured loans

To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.

Read the full methodology

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

Late repayments can cause you serious money problems. See our debt help guides.

Overview of features

Loan typeUnsecured Personal Loan
Loan amounts£1,500.00 to £25,000.00
Loan terms12 months to 60 months
Loan rate typeFixed
Product fee0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit

While interest rates are fixed for the duration of your repayment period, the rate you’re offered may differ from the advertised “representative APR” which any lender is only obliged to award to 51% of its customers. Your personalised rate will depend on factors like your credit rating and your income, as well as the size and duration of the loan that you apply for.

Am I eligible for a My Community Finance personal loan?

You can check your eligibility using the form above. You should only apply for a My Community Bank personal loan if you’re certain you can meet the repayment terms. You must also:

  • Be aged 21 or over
  • Live in the UK (excluding Northern Ireland, Channel Islands and Isle of Man)
  • Earn at least £18,000 per annum (it doesn’t matter if you’re paid monthly, weekly or are self-employed)

What credit score do I need to get a My Community Bank loan?

My Community Bank typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that My Community Bank considers. However, if you don't have a high credit score, you're very unlikely to get approved for a My Community Bank loan.

A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.

Do My Community Bank loans give an instant decision?

Yes, My Community Bank offers instant decisions online in most cases. (Occasionally, more information may be required.) First, you can use the soft-search eligibility checker to find out your chances of getting approved. (This won't affect your credit score.) Then, if you opt to go ahead and apply, you'll get an instant answer. My Community Bank can also offer same-day funding of your loan.

Can I get a second My Community Bank loan?

Yes, My Community Bank allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, My Community Bank also allows you to effectively "top up" your loan by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to 2 months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the 2.

Can I make overpayments on a My Community Bank loan?

Yes, you can make overpayments without incurring any penalty fee. However, My Community Bank can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

How do I apply?

First, you can use this eligibility checker to find out if you'd be likely to get approved for a My Community Bank loan . This won't impact your credit score.

Once you’ve checked your eligibility for a My Community Finance loan, simply:

  1. Choose “Apply”.
  2. Sign the loan agreement.
  3. You should then receive your money within four working days. If My Community Finance needs further information from you, it will get in touch before this point.

What is My Community Finance?

My Community Finance is the trading name of Amplifi Capital UK Ltd, and part of My Community Bank. It’s a network of “ethical lenders”, including credit unions, that aims to give everyone, including those with less-than-perfect credit histories, access to fairly priced and ethical personal loans.

Through its My Community Finance Network, My Community Bank offers personal loans of £1,500.00 to £25,000.00 payable over 12 months to 60 months and uses a “soft” search of your credit history, which will not affect your credit score.

Personal loans from My Community Bank can be suitable for a huge range of purposes from medical or vet fees to home improvements, a new car or furniture. If finding a large amount upfront is difficult, a competitively priced and ethical personal loan from My Community Finance could help.

My Community Finance customer reviews

My Community Finance has received positive reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.8 out of 5, based on more than 4,600 reviews (updated February 2024). Customers praised its simple, easy-to-use service and quick loan process.

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. 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.
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Head of publishing

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 566 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health
  • Share trading

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