Frequently Asked Questions

You can apply for a loan online now and get an instant decision, or you can call *. Once you've applied and have been approved, we'll send you an agreement to read, sign and return to us.

Any amount between £1,000 and £25,000

APR representative (Annual Percentage rate), is the interest rate we give to the majority of customers for a particular amount. On occasions we may offer a different APR, based on your personal circumstances.

The Representative APR must reflect at least 51% of business expected to result from the advertisement or communication carrying it.

The rate we offer you depends on your personal circumstances, our credit assessment procedures and other related factors.

The total amount you agree to repay on your loan includes both the amount you borrow (capital) and the total amount of interest payable (total charge for credit). At the start of your loan we calculate the interest, over the term of the loan and add this to the capital (the capital and interest is shown together as the total amount repayable on your loan agreement).

Your monthly payment will be the same every month and will consist of a percentage towards the amount of capital you borrowed and a percentage towards the interest due over the term of your loan. At the start of your loan the amount of capital outstanding is higher, which means that the interest charged on this amount is higher and makes up a larger percentage of the monthly payment. With every monthly payment, the amount of capital outstanding reduces, which means that the amount of interest charged decreases and the amount of capital you repay each month increases.

If you repay your loan early, we will calculate the amount you need to pay and you may be entitled to a reduction in interest that you have agreed to pay over the full term of the loan. When we calculate this reduction in interest we do so in accordance with the Consumer Credit (Early Settlement) Regulations 2004 in the UK. The practical effect of these regulations is we when we calculate your settlement figure it will include up to 58 days interest.

Like most lenders, we assess your application by using credit scoring. Credit scoring works by awarding points based on:

• Information you provide on your application form
• Existing information we already have about you, based on existing accounts you have with us and
• Information held on your credit reports (which you can check with Credit Reference Agencies)

We then add up these points to decide whether you are eligible for the loan requested. Additionally to meet our responsible lending obligations, we will also use the information obtained to carry out further checks to ensure that the new loan commitment is affordable.

This involves a search on your credit report to assess your credit history. It's based on your name and address and is provided by Credit Reference Agencies. Our searches will be noted against your name to make other lenders aware we have requested information about you.

These are agencies which collate and store factual information about individuals in the UK. Their information is sourced from lenders such as credit card companies, banks and from other publicly available records. They then use this information to compile an individual's credit report.

If you're unhappy with our decision, you can write to us and we'll provide you with an explanation as to how your application has been assessed. You can also get a copy of your credit report from the following companies:

• Send a cheque for £2 to Experian Ltd, Consumer Help Service, PO Box 8000, Nottingham, NG1 5GX
• Equifax (UK) Ltd, Credit File Advice Centre, PO Box 1140, Bradford, BD1 5US
• Consumer Services, Callcredit Limited, PO Box 491, LEEDS, LS3 1WZ

We will be happy to consider another application after a period of 6 months.

• Make regular payments, on time, for all your financial commitments: Missed or late credit payments (even to your mobile phone operator), are likely to be registered on your credit report and may harm your chances of getting credit in the future. Setting up a Direct Debit can help you avoid late payments.
• Check you are registered on the Electoral Roll at your current address: Lenders use this to confirm your name and address. You can check with your local council to see whether you are on the Electoral Roll.
• Check the information on your credit report is accurate and up to date: Dispute anything you don’t agree with. If you have financial links to people on your credit report which are no longer correct, ask for them to be removed (For example, if you are divorced or separated, but your former partner is still shown as a financial associate to you).
• Avoid applying for lots of cards, loans, or other credit products, at the same time: It can damage your credit rating. Instead, try to spread out your credit applications and investigate any credit refusal before applying elsewhere.

Once we have approved your application, we'll send your agreement out by first class post. You will need to check all the details and sign the agreement as well as the Direct Debit mandate. Once we have received your signed documents, your money will be transferred directly in to your bank account. The transfer will take between three and five working days.

Your BACB personal loan can be used for virtually any legal purpose like a new car, holiday, home improvements, or debt consolidation. However, we don't give loans for businesses, speculative purposes and timeshares.

Just give us a call and we'll be happy to discuss it with you. Telephone calls may be recorded for security purposes and monitored under our quality control procedures.

Yes. You have 14 days to change your mind about your personal loan. If you do decide you no longer want it, call us. If, after 14 days you haven't contacted us, you'll be bound by the terms of your loan.

No. Our rates are fixed for the term of the loan. This means once you've arranged it, your repayments will stay the same regardless of interest rates, making it easy to plan ahead.

Yes. We give you the opportunity to take a repayment holiday of two months at the beginning of your loan. Interest is accrued during the payment holiday.

We will take your payments, from your nominated account, by Direct Debit and pay them into your loan account.

You can change the date of your Direct Debit after you have made your first repayment. To give us time to make this change, please call us a minimum of 10 business days before your next payment is due.

If you ever want to find out the outstanding balance of your loan account, simply call us on

Yes, overpayments are where you pay more than your required monthly repayment. If you inform us in advance of making an overpayment we will apply this to your loan and this will reduce the total amount of interest you pay over the term of your loan and may reduce your loan term. Any overpayment without notice will only change the period over which you repay the loan and will not affect the rate of interest payable or the total amount repayable. If you want to make a lump sum payment, please send a cheque payable to 'BACB' with your name and loan agreement number written on the back of the cheque to:- BACB Loans, Customer Services, 8-10 Mansion House Place London, EC4N 8BJ, UK.

Or, if you wish to make a payment electronically please use sort code: 126000, account number: 08110052 and quote your agreement number as the reference.

Yes, this is when you repay your loan in full or part before the end of the loan term. When you take out your loan, the amount you agree to repay includes the amount you borrow (capital) and all the interest that is charged over the full term of your loan (total charge for credit). If you settle early, in full or part, you might be entitled to a rebate, which means you wouldn’t have to pay the full amount of interest charged. When we calculate this reduction in the interest we do so in accordance with the Consumer Credit (Early Settlement) Regulations 2004 in the UK. The practical effect of these regulations is we when we calculate your settlement figure it will include up to 58 days interest.

If you make additional payments, your monthly repayments will not change but the term of your loan will shorten. You must continue to make your normal monthly payments as they fall due.

Please give us a call if you wish to make any extra payments to your loan.

You can visit your local BACB branch to pick up a pack, fill in the registration form and send it to the address provided. A Nectar card is included in the pack, so you can start using it almost immediately.

If you applied for your BACB Loan before February 2011 you may have a valid complaint regarding Payment Protection Insurance. To discuss this with a colleague please call and select option 6.

We treat all our customers and their applications on an individual basis. The APR and the interest rate we offer will depend on your personal circumstances, credit assessment procedures and other related factors.

At least 51% of accepted loan applicants will be offered our advertised Representative APR or less. All other accepted applications will be offered a higher rate ranging from 1% above to 4% above the advertised Representative APR, based on our individual credit assessment of you.

You can apply by calling us and quoting P0625T. Once you've applied and have been approved, we'll send you an agreement to read, sign and return to us. (only available to Northern Irish customers)