from 2 ratings
2 customers rated their The Co-operative Bank loan as 3 out of 5 in our Consumer Finance Awards and Reviews.
Customer Service
Flexibility & Fairness
Product Features
Value For Money
The Co-operative Bank Personal Loan Ex/C
Loan TypeLoan AmountRepresentative APRLoan Term
Unsecured£2,000 to £25,0004.9% APR
(£7,500 to £14,950)
1 year to 7 years
Available to existing customers only.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 4.9% APR p.a. (fixed) you will repay £230.32 per month & £11,055.36 in total.

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The Co-operative Bank Loan Reviews

Co-op bank gone to the dogs

by matthew197, 2 Mar 2014
None over the other banks
Everything. I have banked with them for 24 years. Now reached all time

I have banked with the Co-op bank for 24 years.
I recently transferred some money via the telephone banking service. At the end of the call I was asked if I would like to apply for a new loan at a rate of 5.5% as opposed to my existing at 10.5%. "Of course", I replied. "Thank you for making me aware of this better rate".
45 minutes later my new super rate loan was approved. Unfortunately the Co-op has decided I am" high risk."
Disgruntled by the decision I carried out an Equifax Report. I have a score of 993 out of 999 (excellent, unlikely to be refused credit).
I decided to visit my local branch and go over the situation.
The advisor in the Cardiff Branch informed me that he couldn't do a lot with the basic system he had. He told me that there are far better offers out there and I should go and pursue them. (That's what he had done as the co-op doesn't look after staff). If I should find a better offer by all means come back and speak to him!!!!!!
I did find a better offer (instantly with first on line enquiry), but shall not be going back to speak to the co-op.
I did try ringing telephone banking as a final attempt but was told that there is no one who would look at the situation and it "is what it is". I was told that they would note my dissatisfaction with another department.
In my opinion the co-op has lost the plot, their systems are out of date, staff are despondent and badly trained and they certainly do not do the best for their customers.
New loan with Sainsbury's for me at less than half the rate of the co-op. I intend to transfer my current account within the next week.
Bye Bye Co-op.

Customer Service:
Terrible
Flexibility & Fairness:
Terrible
Product Features:
Terrible
Value For Money:
Terrible


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