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Bertie

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Review of the Bamboo Loans, Personal loan:

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High APR Rates!

High APR rates, that should not be allowed. Payments taken like a debit card payment, whether it be a weekend, a bank Holiday, Easter or even Christmas Day! Process all geared up for the customer to miss the payment, which allows them to add charges. Payment taken a second after midnight. SMS, telephone call soon after missed payment. They're again later in the day. If missed charges are raised. Odds stacked in their favour. Companies like this should not be allowed to trade. Borrow £100 pay £150 back. Reviewed on: 28th February 2025

Reply from Bamboo Loans Hi Bertie Thank you for taking the time to leave us a review. We are very sorry to hear about your experience with us. Regarding our APR, we believe that our loans are suitably risk price adjusted and that we provide clear and transparent pre-contract information regarding the interest rate and total repayment amount before an agreement is made. This ensures customers can make an informed decision before proceeding with a loan. As outlined in our loan agreements, payments are collected via continuous payment authority on the agreed-upon date each month, even if that date falls on a weekend or public holiday. This helps customers stay on track with their repayments. We do also offer several forbearance options for customers who are struggling to make their repayments. Our timely communications help our customers from falling in arrears. We would also like to highlight that Bamboo does not charge any late or missed payment fees. We would like to look into this further however, due to the limited details in your review, we’re unable to locate you on our system. If you can update your review with your loan reference number, our team will be happy to contact you to discuss this further. Alternatively, you can give us a call on 0330 159 6015 and a member of staff will be happy to assist. Kind regards, Bamboo Response date: 5th March 2025

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