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What is a Bamboo repeat loan?

A Bamboo repeat loan is for an existing customer who has finished paying off their first loan with us. It is done by taking out a new loan application and is processed just like any other loan. You decide how much you want to borrow, go through the application process and – if you’re 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 always have the option to apply for top-up loans in the future. Find out more about top-up loans here.

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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