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Ikano Bank: Personal Loan reviews

Name: Personal Loan
Rating: 1.86 (36 reviews)

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1.97

Based on 36 reviews, last reviewed 11th Jul 2023

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

17%

3 star

11%

69%

Latest highest rating:

5

Again and again I've used Ikano bank for several personal loans and always found them to be spot on. Rates are low and Repayments are flexible. I've always paid my ... Read more Reviewed on: 11th July 2023

Latest lowest rating:

1

The worst bank to deal with Ikano bank just do not care about they client they just focus on make money out of them. I have been trying to get in touch for about 4 weeks and ... Read more Reviewed on: 10th May 2022

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About this product

Ikano Bank personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our Ikano Bank personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a Ikano Bank personal loan, we'd love you to write a quick review too.

Ikano Bank Personal Loan reviews (36)

Review of the Ikano Bank, Personal Loan:

Horrific

I want to advise everyone to stay away from this company as I do not think anyone should have to go through the stress and upset I am currently experiencing with them now! I took out a 4 year loan with in 2014, I paid the agreed amount every month without fail. My contract was finished in 2018 and my final payment was made. I then moved the later received a letter from a debt collection company (Lowell) stating I was still owing £124! This was incorrect! I gathered all my bank statements and I had actually over paid! After years being messed around trying to contact someone who would help me clear my name I eventually spoke to someone in 2020 (please note the time scale here!) Who confirmed the debt had been reported wrongly and it would be corrected and I would receive confirmation of this in writing and a manager would phone me directly. Obviously this NEVER materialised, I phoned again in Febuary and was advised once again confirmed this was the case even though my credit score was still showing the same problem. I was told it would be updated and corrected at the end of Feb, once again surprise surprise this never happened. I called on the 18th of March and was told by Esme this should have been sorted and she would chase it up - telling me AGAIN I was not a fault! I phoned today as I had still not received the call from a manager or a written confirmation only to be told by Zigara my file would not be updated and the debt was correct WHICH IT IS NOT! WHAT AM I MEANT TO DO NOW! I have all the evidence to prove I am the victim here although Ikano seems to have no intention of admitting and correcting this! I only write this here today as a last resort as this problem is now affecting my life as I cannot get a mortgage because of Ikanos incompetence! Ikano get this sorted!!! I am waiting on a severe apology, and believe I should be refunded the money I have had to pay out checking to see if you had actually done your job which you did not!!! Ansolute sham of a company DO NOT GO NEAR THEM WITH A BARGE POLE! Reviewed on: 23rd March 2021

Slow process...

Still waiting for application to go through! Completed this middle of last week, thought I would recieve email with information (like it states on website) did not. Instead recieved a letter asking for bank statememt. Sent that away a few days back and still nothing back. Poor communication and false information on website. Very slow process... Can't rate the loan or service as not received the funds yet! I have had loans in the past and have never known anything to be so slow. I wouldn't mind if they kept in touch with updates on my application! I didn't even know at 1 point if the credit check had been succesfull. Potentially missed out on car I want because of this. Kind of wish I'd applied elsewhere but too late to do that now as too many credit checks would kill my credit. Just going to have to wait it out. Reviewed on: 18th May 2016

Top of the table rates

Ikano bank might not be a name you've heard much about, but they are owned by Ikea so when I saw that they are offering some of the best personal loan rates out there I decided to give them a go. So far so good. Reviewed on: 2nd May 2016

Slow and Cumbersome

Pour communication, the online loan application says they will telephone or email for any further detail. They requested detail via post, which did not arrive even after 7 days. Email is more reliable than the postal service and also legally binding. After telephoning the bank they told me to send in further information confirming my address which later they informed me they did not require, but then asked for a bank statement. We live in the 21st century people don't receive hardcopy statements or utility bills anymore and getting them is costly. 7 days passed, so using the next loan provider on GoCompare they turned the loan around in 48 hours with no issues. This process has cost me the same amount in savings that IKANO offered against the next loan provider. I have no CCJs and an excellent credit history with a good income with no large outgoings, so why had this got be so painful for a reasonable sized loan?? IKANO should request via email or phone all decision making documents with in the first 24hours. Reviewed on: 28th April 2016

Really quick & easy application !

Applied online, the product really is as simple as they say! I signed online and got my money within 2 days. Really impressed with this new loan offer! Reviewed on: 5th April 2016

Ikano furniture loan with IKEA

Very happy with the Ikano loan I had to buy a new bed and mattress from IKEA. The loan helps spread the cost into bitesize payments and the company's customer service is fab. Reviewed on: 24th December 2015

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