The Bamboo Guide: How to apply for a personal loan online

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You know that feeling just before you go to the dentist? Or before you finally go to that doctor’s appointment you’ve been putting off for a while? Well, making the decision to apply for a personal loan online can feel a bit similar.

You’re a bit nervous. You’re not sure what they’re going to ask. And you’re not sure whether you’re going to be happy with their decision.

But it doesn’t have to be like that – as long as you know what is going to happen when you apply for a personal loan online, you’ll be alright.

It’s really not that scary, promise. We’ll take you through it step-by-step.

The Bamboo Guide: How to apply for a personal loan online.

(To make it easier, we’re going to talk you through how to apply for a Bamboo loan. However, the process is pretty much the same if you borrow from another lender too.)

Are you ready to have your mind blown? The Bamboo loan application process takes less than ten minutes in total. (In fact, it takes 8.) And by the end of that time, you’ll know how much you can borrow, what the repayment terms are and what kind of loan you’ll be taking out.

(Perhaps mind-blowing was overdoing it? But it’s still fairly impressive.)

The best bit: we offer a personalised instant quote, allowing you to check which loans you could qualify for without impacting your credit score in any way.
Sounds nice and easy right? It is. At Bamboo, we believe that when you apply for a personal loan online, it shouldn’t be difficult.

The First Step: Enter your personal details.

It’s as easy as that. Just us how much you’re looking to borrow (and what you want to borrow it for), your full name, date of birth, email, employment and residential status (as well as a bit of information on your outgoings). This will have no impact on your credit score at all, but it gives us a good idea of whether or not you’re eligible for a loan.

All in all, this section takes three or four minutes. Five if you’re a slow typer.

The Second Step: Choose your loan

After doing a quick check based on the details you gave us, we’ll tell you what loan you qualify for. They can vary from guarantor loans to unsecured loans.

This section takes 1 minute.

The Third Step: Apply for your loan

Now comes the final application bit.

If you’ve chosen a guarantor loan, you’ll need to tell us a bit about your guarantor. Hopefully, you’ll have worked out who you’re going to choose as your guarantor already, but if not, have a good think and come back to the application later.

(For a few pointers, check out our advice on how to choose a guarantor and what is involved in being a guarantor. If you’re new to the idea of guarantor loans, it might be worth getting yourself up to speed with our comprehensive guide, too.)

Very quickly though, your guarantor can be anybody: your partner, a relative, friend or colleague. They must be aged between 21 & 72 at the start of the loan and be a tenant or a homeowner.

(Sometimes, a chosen guarantor is unsuitable. However, this doesn’t affect your application at all. We just let you know you can choose an alternative guarantor and continue the application process.)

After that, you just need to give us a bit more on your employment and residential status and then we’re at the finish line.

The Final Stage: Hit apply

That’s all there is to it. Hit submit and then sit back and relax. Your job is done.

Now, we’ll send an email to your proposed guarantor to get them to agree to the arrangement. (This is the final stage of the application process, so if you can get your guarantor to fill it in as soon as possible, we can get your loan application finalised as quick as we can.)

The best part? If we receive all of the necessary documents before 3pm, we’ll have the money in your account the very same day. If you miss the deadline, it’ll be in your account the next day.

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 – if you’re considering applying for a guarantor loan, why not take our quick eligibility test? (Representative 49.7% APR.) 

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