Bamboo Loans £1,000 to £8,000

Bamboo's online reviews from TrustPilot & Smart Money People

Update: due to Corona Virus Bamboo is pausing guarantor, but continuing unsecured lending, click Get Quotes to find available loans

Updated by Jon Edward at

Recent reviews for Bamboo

4.9 / 5 from 17,617 online reviews

One of the UK’s first guarantor lenders to also provide unsecured personal loans

Bamboo Loans were formed in 2014 in Southampton and provide both personal and guarantor loans.

In our tests, we have found them to be very professional.

When you first apply to Bamboo they provide you with a personalised quotation, only doing a soft search on your credit file and will give you full information about the loan they can offer you, and the costs.

Only after you make a full application do they credit check you. They are relatively flexible with their criteria and do not mind if you are on benefits or have a bad credit file with a CCJ.

Bamboo is an excellent lender and well worth your consideration.

Guarantor Loans from £1,000 - £8,000
Term 12 - 60 months
Rate 49.7% representative
See representative example
Personal Loans from £1,000 - £5,000
Term 12 - 60 months
Rates 26.9% - 89.9%
See representative example
Rating 75.7 / 100
Time to Apply 3 min 15 secs

Customer Reviews

4.9 out of 5 from 17,617 online reviews

Read Reviews

Loan Highlights

Your guarantor can be your spouse or partner

Your credit rating does not need to be perfect

Your guarantor does not need to own their own home

Payments are easy with their with online portal

More features

Minimum Criteria

You and your guarantor must be over 21

Your guarantor must not be a customer of Bamboo

Your sole income cannot be from Job Seekers Allowance

Your guarantor will also need a good credit rating

Your guarantor will need a UK bank account

Fees

Maximum APR 49.7%

Arrangement fee: £0

Early repayment fee: £0

Late payment fee: £12

Frequently asked questions

1

How quickly can I get a loan from Bamboo?

Bamboo say “with our loans, the money could be in your bank account today if we get your application before 3pm" 😊

Typically their pay-outs times for personal loans are quicker than guarantor because it can take time to find a guarantor and then get the required information from them.

2

If my application is pre-approved am I guaranteed to get a loan?

When you have a valid pre-approved offer from Bamboo, you will get a loan amount, term and rate you were offered 👍

This is subject to the details provided in your application being

  • Accurate and correct
  • Not changing
3

How long is my pre-approval offer valid for?

24 hours 🗓️

  • When you get an online pre-approved from Bamboo, it’s normally valid for 24 hours.
  • Note, when you start your application on Bamboo’s website, you’ve 3 days to complete the application process.
4

Are there upfront fees for a loan?

No 🤗

  • Guarantorloansuk.net and Bamboo do not charge any application or upfront fees for loans
  • Bamboo also do not deduct fees from the loan advance

Pros and Cons

Bamboo offer loans from £1,000 up to £8,000, the following summarises the main features.

Pro's 👍

  • Do no guarantor loans
  • Loans up to £8,000
  • Non-homeowner - your guarantor does not need to be a homeowner
  • Poor credit history & CCJ’s are not a problem
  • Overpayments OK - so you can pay off the loan early
  • Online customer portal - so you can login to make payments etc.
  • Same day - quick approvals with money sometimes paid out the same day
  • Daily interest - interest is charged on a daily basis so you only pay interest on the money you owe.

Con's 👎

  • You need a guarantor
  • Job Seekers Allowance - if the only source of income you'll not be accepted
  • Lower loan amounts than other lenders, others go up to £15,000

The basics ✍️

  • UK bank accounts and debit cards - you and your guarantor both need UK bank accounts and debit cards registered in your own names
  • UK residency - you and your guarantor both need to be UK residents
  • Credit checked by Callcredit - you and your guarantor will be credit checked by Callcredit
  • You cannot be bankrupt, or in an IVA

Bamboo provides a solid loan offering and we have found them to be responsive and professional; though we would always suggest looking at the other options on the market before making a final decision:

My Verdict

By Jon Edward

Rating - 75.7 / 100

Bamboo Loans are a highly reputable loan provider with a slick application process and friendly customer service.

  • When you first apply they'll see if you qualify for a personal loan, which means you may not even need to find a guarantor.
  • However, you need a fairly clean credit file to qualify, so if not you will be tried for their guarantor product.
  • This is an excellent option for those with only a marginally imperfect credit file.

With over 4,000 online reviews and 98% of these saying Bamboo are either “excellent” or “great”, you can be confident that Bamboo is a sound and reputable company to borrow from.

Apply to Bamboo Loans

Company Info

Company Info

  • Co Reg No 05629336
  • Website bambooloans.com
  • Telephone 0330 045 0490
  • Address 1st Floor, Grenville House, Nelson Gate, Southampton, England, SO15 1GX

FCA Registration

  • FCA Ref No 720565
  • Firm Name Bamboo Limited
  • Principal Place of Business 14th Floor, Norwich House Commercial Rd Southampton Hampshire SO15 1GX

Data Protection Info

  • ico Reg No Z1380902
  • Data Controller Bamboo Limited
  • Address 1st Floor Grenville House Nelson Gate Southampton SO15 1GX
  • Other Names Bamboo
    Bamboo Finance
    Bamboo Loans
    First Banco
    www.bambooloans.com

Bamboo Representative Example

On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed).

Representative 49.7% APR

Total amount payable £4,557.89 of which £1,957.89 is interest. 35 monthly repayments of £126.61 and a final payment of £126.54