Bamboo offers a number of different loan types. It offers:
Bamboo will consider you for loans between £1,000 and £8,000 and you will need to find a guarantor for your loan. The guarantor can be a tenant or a homeowner and cannot be a customer of Bamboo.
For the guarantor loans, it charges a representative APR of 49.7% which tends to be pretty well the same as most other guarantor lenders.
An example of what it will cost to borrow money from Bamboo Loans:
If you were to borrow £5,000 over 60 months (5 years) you would have to pay £197.09 per month. You would end up repaying £11,825.37 in total. The interest would be £6,825.37 or £113.76 per month which means that only £83.33 is actual capital repayment.
It appears that the different loan “reasons” listed above all link to the same application form.
Bamboo has a very open and honest calculator on its site and does clearly display the true cost of the loan.
Nearly all the reviews about them appear positive. They score 91% “Excellent” and 7% “Great” and only 1% “Bad” on Trust Pilot