Yorkshire Bank Personal Small
Good:
They offer payment protection if you become unemployed, do not feel obliged to take it, you may find it cheaper elsewhere
Bad:
Customer service does not come recommended, appalling and rude telephone service
Verdict:
Yorkshire bank account holders only - they have quite a bad reputation for customer service stating they are rude and unhelpful, could go to other high street lenders to get a better interest rate too
Yorkshire bank offer loans from £1,000 to £7,499 which you can use for any purpose. You can apply online or over the phone with Yorkshire Bank. After you have completed your online application, they will give you a reference number (note this down somewhere). They will then contact you via email within 2 business days. Once you have been provisionally accepted, a letter and your loan agreement will be posted to you. Once signed, sent back and received by Yorkshire, they should pay the money out within 3 - 5 working days.
If you're not already a customer of Yorkshire bank then the application process can take longer and they may want you to open a bank account with them. The general consensus is that Yorkshire Bank do offer loans at relatively good interest rates, however their customer service is renowned for being bad and decisions have been known to take a lot longer than the advertised time periods stated. If you couple this with the fact there is a lot of sending and receiving of documents (they may ask for extra documentation with your loan agreement), it can take quite a while for you to get the money in your bank. Late payment fees are pretty standard for one of the high street banks as illustrated below.
Loan Calculator (Representative 13.9%APR)
Loan Amount £
Loan Term months
Monthly Repayment
Total Repayment
Loading, please wait...
After been with this bank for 24 years with excellent credit history, i decided to get a small loan to purchase a car. this was a MONTH ago. I rang and rang and kept getting the same answer we have sent the paperwork 1st class, we will resend it. this happened 4 times, the loan was approved according to the advisor on the phone but I am still waiting for the paperwork just to sign, I have now lost the car I wanted AND THE DEPOSIT as it has been waaaaaay longer than i ever expected?! would deffo not reccomend this bank for loans etc, customer service is TERRIBLE
I had to go to the Yorkshire bank to sort my departed mothers account, fantastic old fashioned banking like I have not seen at my bank, Barclays, I will be moving my account this week.
I am a new customer and went to open 3 savings accounts today................was not even greeted with a smile!
Requested a loan at least 5 times through Yorkshire bank call centre and once in branch. Was told they would ring which never happened. Very poor customer service as branch cannot be contacted direct by phone. Would not recommend as a bank.
They are unhelpful, rude and do not listen to instructions on how to manage your loan do not use them.
Been with Yorkshire Bank 10 years and up to about 18 months ago, had a mostly hassle free service. However, elements of poor customer service have started to surface and I'm really unhappy with the service I am now receiving. I had a £3K loan with Yorkshire bank and wanted to reduce this by £1K, having come into some money. The hassle I'm still currently having to go through (5 weeks later) to do this is astonishing and frankly, totally unacceptable. They have some complicated way of reducing existing loans which involves multiplying the amount you pay monthly, so that it meets roughly, or as near as the amount you actually want to reduce your loan by?!?!? Not at all straight forward, very poor customer service. I am waiting for them to sort out the loan I've asked them to reduce, then I'm switching banks.
Loans up to £7,499 - 5 years
- You must have a Yorkshire Bank account with direct debit facilities
- You must have a good credit history
- You must have been a UK resident for 3 years or longer
- If self-employed you must have 3 years accounts/income letter/tax assessment OR 2 years accounts/income letter/tax assessment and a projected 3rd year
- You will need: your employer's details, your bank account's details, your income and other financial repayment details, your monthly mortgage/rent/board payment details and your business details (if self-employed)
- You must be 18 years of age or older to apply
- You must be in full-time, part-time, on a pension or self employment earning £400 per month
- Letter from collections department - £20.00
- Letter from solicitors - £20.00
- Late payment - £12.00
- None
