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If you’re considering borrowing from us, you’ve probably seen our loan repayment calculator. It’s right there on our homepage, so you can’t miss it.
It’s our way of helping you work out how much you can borrow, what type of loan you qualify for, how much your repayments will be and how much you’ll have to pay back, before you even apply for a loan. You don’t have to enter any details except how much you want to borrow and how long for, and we’ll be able to tell you how much your monthly repayments will be.
Pretty nifty, right?
How to use our loan repayment calculator
Our loan repayment calculator is pretty self-explanatory, but we’ll talk you through it anyway.
Step One: Tell us how much you’d like to borrow and how long for
Tell us how much you’d like to borrow and how long for by adjusting the two sliders on the loan repayment calculator. That’s all there is to it. If you’re just dipping your toe in the idea of taking out a loan, you’ll be able to see the amount you’ll have to pay every month, as well as the amount of interest you’ll have to pay. You won’t have to give us any personal information whatsoever, and it’ll leave no mark on your credit score.
This first step, doesn’t tell you whether you qualify for the loan. It only tells you your monthly repayments if you qualify for the loan.
Step Two: Tell us a little more
If you’d like to find out whether you qualify for a loan with the repayment terms, you’ll need to give us a little more information. We’ll need to know your name, address, monthly income and monthly outgoings spent on your rent or mortgage. Once we’ve got that information, we’ll run a soft search on your credit file to see if you qualify for a loan. This should only take a few seconds. Because it is a soft search, it doesn’t have an impact on your credit score.
After that, we’ll tell you if you qualify for the loan and – if you do – whether you need to have a guarantor or not. If you’re not quite clued up on guarantor loans, get yourself up to speed with this handy guide.
Step Three: Make a decision (and apply)
If you’re happy with the terms of the loan, all that’s left to do is hit that apply button. If you need a guarantor, we’ll need a bit more information on them. Once we’ve got that, provided we approve the guarantor, you’ll have the money in your account within 24 hours.
At Bamboo, we’ve made sure that our application process is as easy and as straightforward as possible. But don’t take our word for it. Why not take a look and see how much you could borrow? Representative 49.7% APR
- Author The Bamboo Team
- Posted 19 February 2018