How much do you want to borrow?
£2,000 £7,450Over how many months?
12 months 84 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
11.9% - 18.9%
13.9%
£2,000 - £7,450
Minimum Term 1 year
Loans up to £7,450 - 7 years
Standing Order
Smile account holders - next working day
Other account holders - 4 working days
No Fee
They are available but you need to speak to a representative to organise them
Transferred into your bank account
No
166th for APR of 423 loans in the UK (See Lender League Table By APR)
25th for Customer Satisfaction (See Customer Reviews)
Smile is an online bank that lend between £2,000 and £7,450. They do however have call centres where you can speak to someone if you are having problems. Smile offer a fixed rate APR for the life of your loan so there would never be an increase in your monthly repayments.
You can apply online. After completing the application, you are given a PIN number that will let you log in and track the progress of your loan online. They will call you back within 24 hours to advise the success of the application (you will also receive an email). Once approved, you will go through relevant details on the phone before paperwork is sent out to you via post. When you receive this, read through it carefully, ensure you are happy with the APR and provide any other documents they may request. Once they receive it back, if you have a Smile bank account, the funds will be in there the following working day. If you bank with someone else, it will take 3 - 5 working days.
The general consensus of opinion by previous customers is that Smile offer a good service. The interest is not as low as some other loan companies out there. They are not the most flexible in terms of repayments as these cannot be increased or decreased and settling the loan early will cost you a fee on top of the interest you would have paid. They do however also offer quite a wide range of loan terms, allowing the customer to choose between 1-7 years whichever suits them best. Smile only offer loans to people over 21. You will be credit checked so its only worth applying if you have good credit (i.e. you don't have any late payments, CCJs, defaults on your credit file). Once again it does seem to be recommended by a lot of its customers so if you are looking for these sort of amounts of money, this could be quite a viable option.
|
Early Settlement Fees |
One month's additional interest calculated on the balance outstanding will be payable |
|
Other Fees |
Courier charge to receive your documents quicker - £50.00 CHAPS fee to receive your money quicker - £25.00 |
|
Late Payment Fees |
Whole or part of an instalment, interest will be owed on the instalment from when it is due, at the annual percentage rate shown in the Loan Agreement until its actual payment |
Average Customer Review:
(4 customer reviews)
Add your own review
The most favourable review
The most critical review
miss
Nakita, Kidwlley
1 year ago
to help pay debts and xmas
Still waiting for my cash
Sigita, London
1 year ago
Basically, 1 month after my application being processed, I am still waiting for the cash to appear in my account. Smile quoted the wrong account number to my bank, meaning the funds never made it into my account. Their helpline personnel have been rather unhelpful, just providing me with a series of apologies and excuses rather than taking any real...
Read full review >
Quick&hassle free
Emma, Ballynahinch
1 year ago
good service
Easy, easy process
Tanya, Batley
1 year ago
I decided to apply for a Smile loan as they are the internet arm of the Co-op Bank which has a better reputation for not investing your money in nasty regimes or dodgy companies. I filled the form online for both a loan and a savings account. Within 24 hours they had e-mailed me with an acceptance. Hooray! Smile's site is easy to navigate and I like the way that they e-mail you directing you to the secure section of the site where you actually pick up your message.
PO Box 600, Delf House, Skelmersdale, WN8 6GF
08457 212 212
