Key benefits
Borrow £2,000 for less than £50 a month
BACB's shoppers with a Nectar card could get a great rate of 18.6% APR representative* on small loans from £1,000 to £2,999 over 1- 3 years. There are no nasty set-up fees and you'll also have the option of a 2 month repayment holiday at the start of the loan.
- 18.6% APR representative* on loans from £1,000 - £2,999 over 1-3 years
- Price Promise - if you're offered a better rate on a like-for-like loan elsewhere, we'll beat it†
- Option to choose to repay from 1-5 years
- Option of a 2 month repayment holiday at the start of the loan#
If you have an existing loan with another provider, see how much you could save by switching to a BACB Standard Loan.
Double Nectar points and bonus Nectar point promotions do not apply to this offer. The rate you are offered will depend on your personal circumstances, credit assessment procedures and other related factors. What APR will I receive?
What if I don't have a Nectar card?
We offer our best rates to BACB customers with a Nectar card. Different rates apply if you don't have a Nectar card.
How do I get a Nectar card?
***Lines are open 8.00am - 10.00pm Mon - Fri, 8.30am - 6.00pm, on Sat, 9.30am - 5.30pm on Sun. Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.
Key Information
Loans from £1,000 to £2,999 - Key information
The information contained in the table below summarises key product features and is not intended to replace any terms and conditions.
| Representative APR | Representative 18.6% APR |
| APR ranges | Loan size range: £1,000 to £2,999 APR range from 18.6% to 23.9% |
| Interest charging information | The interest rate is fixed and guaranteed for the life of the loan. Interest is calculated for the full term of the loan and is applied at the start of the loan. |
| Repayment information | Payment is made by monthly Direct Debit. If you take a Repayment holiday, the first monthly repayment is due three months after the date the loan has been opened. We charge interest between the start of your loan and your first monthly repayment |
| Repayment period | You can choose to repay your loan over 1 to 5 years |
| Amount of Loan available | Loans are available from £1,000 to £2,999 in increments of £1 |
| Application / Arrangement fee | There is no application/arrangement fee |
| Default fees | The following charges will be made if any of the following actions have to be taken: If a Direct Debit is returned unpaid: Up to £25; Letter requesting payment or telephone call to home or business: £10; Pre-default notice: £40; Default expired: £50; Issues of solicitors' letter, instruction of agency to collect the balance, instruction to solicitor to issue court proceedings or instruction to obtain new address: £50 |
| Early settlement | You have the right to repay all or part of the loan at any time. If the original length of your loan is more than 12 months an early settlement fee of 58 days interest on your remaining balance will be charged. |
| lending criteria | Loans are provided, subject to status by BACB plc. Written quotations are available on request. To apply you must be at least 18 and a UK resident (excluding the Channel Islands and the Isle of Man). Rates correct at time of print. Different rates will apply for telephone applications. BACB reserves the right to vary rates without notice. The rate you are offered will depend on your personal circumstances, credit assessment procedures and other related factors. Your application will not be considered without your home telephone number |
| Representative example | Annual Interest Rate (fixed) is 18.60% p.a., with a representative 18.6% APR based on borrowing £2,000 and repaying over 36 months* with 36 monthly repayments. Monthly repayments of £71.49 with total amount repayable of £2,573.64. |
Offer Ts & Cs
You can repay your loan at any time during the repayment period. If the original length of your loan is more than 12 months an early settlement fee of 58 days interest on your remaining balance will be charged.
Please read our terms and conditions and privacy statement.
Multiple credit searches may make obtaining future credit more difficult.
*18.6% APR representative for BACB's shoppers with a Nectar card which has been swiped instore or used online with BACB in the last 6 months. We may check your Nectar account to verify this. Rate correct at time of issue. The actual rate we offer may be higher depending on your personal circumstances, credit assessment procedures and other related factors.
#Interest will be charged between the start of your loan and your first repayment.
#Interest will be charged between the start of your loan and your first repayment.
†Price Promise Guarantee
Our Price Promise Guarantee means that if you are offered a "like for like" loan that has a lower APR (Annual Percentage Rate) with another lender we will beat it. This is subject to you qualifying for the Offer and you must not have already accepted our Standard Loan offer by signing and returning the BACB Loan agreement.
Our Price Promise Guarantee means that if you are offered a "like for like" loan that has a lower APR (Annual Percentage Rate) with another lender we will beat it. This is subject to you qualifying for the Offer and you must not have already accepted our Standard Loan offer by signing and returning the BACB Loan agreement.
How to make a claim:
BACB Loans
Price Promise Guarantee Claims
Loans Product Team
8-10 Mansion House Place London, EC4N 8BJ, UK
Price Promise Guarantee Terms and Conditions:
- Carefully read the Price Promise Guarantee terms and conditions
- Send a copy of the competitor loan agreement/ formal offer in the same name as your BACB loan to the address below.
- Remember to quote your BACB loan agreement number.
BACB Loans
Price Promise Guarantee Claims
Loans Product Team
8-10 Mansion House Place London, EC4N 8BJ, UK
Price Promise Guarantee Terms and Conditions:
- The Price Promise Guarantee ("the Offer") is only available to individuals who successfully apply for (and subsequently open) a BACB's Standard Loan (“the Loan”).
- The offer does not apply to any BACB's Shopper Reward Loans.
- Claims under the Offer must be received within 28 days after the BACB Loan has been approved.
- Claims under the Offer will not be accepted after the BACB Loan offer has been accepted by signing and returning the BACB Loan agreement.
- You must provide us with a written offer from the other lender in the same name as the Loan offered by BACB. In most cases a photocopy of the loan agreement will suffice but we may ask you to provide the original agreement. If you provide an original document, we will return this to you within 5 days of assessing your claim. Photocopies will not be returned and will be securely destroyed by us. BACB will verify the validity of your claim within 5 business days of receiving your request and notify you of the result.
- A “Lower rate” means a lower Annual Percentage Rate (APR) of an alternative unsecured, fixed rate loan from a lender, compared on a “like for like” basis. We will assess “like for like” based on features such as, but not limited to, length of loan, fixed loan amount, repayment structure (including interest and set up fees (if any).
- The Lower rate must be available to the general public and be verifiable by BACB. The Lower rate must have been offered and must still be available to you at the time of the claim.
- The Offer does not apply to the following rate or loan types:
- Loans where the funds are not available for immediate use
- Discount rates offered only to members of groups or individuals who meet previously specified criteria;
- Rates that are not immediately available, promotions that are not at everyday rates and products which are sold under different terms and conditions, such as special financing (i.e. dealer loans, promotional loans for specific goods);
- Loans that are secured on land, investments or goods.
- Any personal products being charged interest at a variable rate;
- Any personal and non personal loan type products including but not limited to lease, contract hire, hire purchase or conditional sale agreements;
- Loan agreements where interest has been temporarily or permanently suspended (including deferred payments and 0% loans for an initial period);
- Loan agreements where the funds are to support periods of study, or the period immediately following completion of studies (for example, student loans or graduate loans).
- If your claim is successful we will reduce the APR on your BACB Loan to below that of the alternative lender by 0.1%. e.g. If the alternative lender formally offers you a rate of 6.9% APR, your claim is successful and 6.9% APR is lower than our rate offered we will reduce our offer rate to 6.8% APR
- We reserve the right to modify or cancel the Offer at any time without prior notice.
