What are the different loan representative APRs?

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Representative APR and Representative Examples

Understanding Representative APRs is a crucial component of any loan agreement.

On this page we cover what these terms mean and what are the figures are for all our lenders.


What these terms actually mean?

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 taking into account 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 particular 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 actually higher.

So the representative APRs listed below are for that particular lender; for example, Amigo’s representative APR is 49.9%, therefore over 51% of Amigo’s customers paid an effective rate of 49.9% for their loan with Amigo.

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 Guarantor Lenders Representative APRs with Examples

Please see below a list of our current lenders:
1 + 1 Loans, Amigo Loans, Bamboo Loans, Buddy Loans, George Banco, Guarantor My Loan, Trust Two, UK Credit,

To easily compare all loans, see our Compare Loans page

Representative APR Rates updated September 2018

1 + 1 Loans

Representative APR47.8%
Representative Example£3,000 over 3 years
Monthly Payment£143.84
Annual Interest Rate47.8% Fixed
Total Payable£5178.24
Apply to 1 + 1 LoansMore Information About 1 + 1 Loans

Amigo Loans

Representative APR49.9%
Representative Example£4,000 over 3 years
Monthly Payment£195.16 per month
Annual Interest RateInterest rate 49.9% (variable)
Total Payable£7,025.76
Apply to Amigo LoansMore Information About Amigo Loans

Bamboo Loans

Representative APR49.7%
Representative Example£2,600.00 over 3 years
Monthly Payment£126.61
Annual Interest Rate41% Fixed
Total Payable£4,557.89
Apply to Bamboo LoansMore Information About Bamboo Loans

Buddy Loans

Representative APR49.9%
Representative Example£3,250 over 3 years
Monthly Payment£158.57
Annual Interest Rate41.16% Fixed
Total Payable£5,714.67
Apply to Buddy LoansMore Information About Buddy Loans

George Banco

Representative APR49.7%
Representative Example£3,500 over 3 years
Monthly Payment£170.56
Annual Interest Rate41.4% Fixed
Total Payable£6,140.16
Apply to George BancoMore Information About George Banco

Guarantor My Loan

Representative APR48.9%
Representative Example£3,000 over 3 years
Monthly Payment£145.17
Annual Interest Rate10% per annum fixed + service fee of 30.48% per annum fixed
Total Payable£5,226.12
Apply to Guarantor My LoanMore Information About Guarantor My Loan

Trust Two

Representative APR49.5%
Representative Example£4,000 over 3 years
Monthly Payment£194.55
Annual Interest Rate49.5%
Total Payable£7,003.80
Apply to TrustTwo LoansMore Information About TrustTwo Loans

UK Credit

Representative APR39.9%
Representative Example£4,500 over 3 years
Monthly Payment£201.15
Annual Interest Rate34.05% Fixed
Total Payable£7,241.40
Apply to UK CreditMore Information About UK Credit

Loan Calculator

Use the loan calculator below to estimate monthly loan repayments.

Approximate figures

  • Monthly repayments from to . Total repayable from to . Representative APR's from to

Click to see all our lenders Representative APR's

This tool is for GUIDANCE ONLY. It is designed to help you estimate loan repayments. It uses the representative APR of each product. Lenders have a duty to conduct affordability checks when you apply for a loan, see Responsible Lending.