Understanding Representative APRs is very important before you get any form of credit.
We cover what these terms both mean, and what the figures are for all our lenders; let’s dive in:.
Representative APR
The representative APR of a loan is the effective rate of interest that is paid by at least 51% of a company’s customers considering all charges and fees associated with that product.
The idea is that it gives you a fair indication of the actual total cost of a product.
This was introduced as a result of companies advertising low-interest rates (to appear cheap) but then adding lots of other fees and charges making the overall cost higher.
So, the representative APRs listed below are for that lender; for example, our representative APR is 49.9%, therefore over 51% of our customers paid an effective rate of 49.9% for their loan with the lender they chose.
Representative Example
A representative example is a calculation of all the costs associated with an example loan using the representative APR for that product, thus giving you a fair indication of the monthly payment and total amount payable for the loan amount and term used in the example.
Our Lenders Representative APR’s
Representative APR Rates updated September 2018
Please see below a list of our current lenders. To easily compare all loans, see our Compare Loans page.
1 + 1 Loans
| Representative APR | 47.8% |
| Representative Example | £3,000 over 3 years |
| Monthly Payment | £143.84 |
| Annual Interest Rate | 47.8% Fixed |
| Total Payable | £5178.24 |
| Apply to 1 + 1 Loans | More Information About 1 + 1 Loans |
Amigo Loans
| Representative APR | 49.9% |
| Representative Example | £4,000 over 3 years |
| Monthly Payment | £195.16 per month |
| Annual Interest Rate | Interest rate 49.9% (variable) |
| Total Payable | £7,025.76 |
| Apply to Amigo Loans | More Information About Amigo Loans |
Bamboo Loans
| Representative APR | 49.7% |
| Representative Example | £2,600.00 over 3 years |
| Monthly Payment | £126.61 |
| Annual Interest Rate | 41% Fixed |
| Total Payable | £4,557.89 |
| Apply to Bamboo Loans | More Information About Bamboo Loans |
Buddy Loans
| Representative APR | 49.9% |
| Representative Example | £3,250 over 3 years |
| Monthly Payment | £158.57 |
| Annual Interest Rate | 41.16% Fixed |
| Total Payable | £5,714.67 |
| Apply to Buddy Loans | More Information About Buddy Loans |
George Banco
| Representative APR | 49.7% |
| Representative Example | £3,500 over 3 years |
| Monthly Payment | £170.56 |
| Annual Interest Rate | 41.4% Fixed |
| Total Payable | £6,140.16 |
| Apply to George Banco | More Information About George Banco |
Guarantor My Loan
| Representative APR | 48.9% |
| Representative Example | £3,000 over 3 years |
| Monthly Payment | £145.17 |
| Annual Interest Rate | 10% per annum fixed + service fee of 30.48% per annum fixed |
| Total Payable | £5,226.12 |
| Apply to Guarantor My Loan | More Information About Guarantor My Loan |
Trust Two
| Representative APR | 49.5% |
| Representative Example | £4,000 over 3 years |
| Monthly Payment | £194.55 |
| Annual Interest Rate | 49.5% |
| Total Payable | £7,003.80 |
| Apply to TrustTwo Loans | More Information About TrustTwo Loans |
UK Credit
| Representative APR | 39.9% |
| Representative Example | £4,500 over 3 years |
| Monthly Payment | £201.15 |
| Annual Interest Rate | 34.05% Fixed |
| Total Payable | £7,241.40 |
| Apply to UK Credit | More Information About UK Credit |