If you are eligible, you can apply for a top-up loan through your online Bamboo loan account.
A top-up loan involves completing a new application and fresh credit and affordability checks will be carried out as part of the application.
It is important to note that being able to apply for a top-up loan does not guarantee your application will be approved.
You might be able to borrow more with a Bamboo top-up loan. If you're eligible, you'll see the option to apply under the "Top-up" tab in your online account. This typically becomes available after you have made more than 10 monthly repayments on time.
If you have any questions, you can contact our loyalty team and they will be happy to help.
A Bamboo repeat loan is for customers who have fully repaid their first loan with us. You simply apply for a new loan, choose how much you'd like to borrow, go through the application process, and, if approved, get the money in your account.
Repeat loans are a great option for people who want to borrow again and who want to use a lender they already trust. This could be for maintenance repairs, an investment in your home or any other emergency.
Benefits of a repeat loan:
- You are likely to qualify for a lower APR on your next loan with us. However, dependent on certain criteria, it can possibly remain the same or go higher.
- As a Bamboo customer, you may be eligible to apply for a top-up loan in the future.
Qualifying for a repeat loan means that you will need to pass our credit and affordability assessment. We always double-check your payment history and your personal situation to see that you can afford the new loan. We’re a responsible lender and wouldn’t want you to borrow money you can’t afford. While repeat loans are great in giving you a little boost or helping you get the money you need at a better rate, they are, of course, an extra source of debt.
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Yes, you can however, you must notify us within 14 days of signing your top-up loan agreement and return the funds within 30 days.
A top-up loan involves closing your current loan and opening a new loan account for the extra cash plus the amount that was required to close your old loan (the settlement figure). Therefore, you will need to return both the cash advance and the settlement figure that was used to close your previous loan.
As an example:
If the settlement balance of your current loan is £2,000 and you want to borrow an additional £1,000 then your new loan would be £3,000.
If you choose to withdraw from your top-up loan, you will have to return the full loan amount of £3,000 rather than just the additional £1,000 borrowed.
We will unfortunately not be able to revert back to your old loan once a new top-up loan account has been opened. This means that after withdrawing from your top-up loan, you won’t have any further loan repayments or an open loan account with us.
If you are unable to return both the cash advance and the settlement figure that was used to close your old loan, please contact our Servicing team on 0330 159 6015.
If you signed your loan agreement longer than 14 days ago and haven’t notified us that you wish to withdraw, then you will need to request an early settlement figure.
If you wish to proceed with your top-up loan withdrawal, please contact our Customer Support team.
What is a Bamboo top-up loan?
A Bamboo top-up loan is for existing customers who would like to borrow some more money.
Find out more on our top-up page.
If you are eligible, the extra cash you can borrow will depend on your personal circumstances.
We will only provide a loan if we view that it is affordable to you, but we cannot predict unforeseen changes in circumstances.