| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 8.9–24.9% | £500–£5k | 3–36 mo | personal |
Best For
Current Starling Bank account holders needing a small personal loan with straightforward application processes.
Individuals with a Starling current account looking for quick access to a small personal loan.
Pros & Cons
Watch Out
Only available to existing Starling current account holders, which limits accessibility for new customers.
Full Review
This loan product is exclusively accessible via the Starling app, making it user-friendly for tech-savvy individuals. Approval is instant, which is a significant advantage for those needing quick funds. However, the removal of the loan product page from the website raises concerns about transparency regarding loan terms and conditions.
APR rates range from 11% to 15%, which can be relatively high compared to some competitors. Borrowers with lower credit scores may find themselves at the higher end of this range. Additionally, the loan amounts are modest, capped at £5,000, which may not suit those looking for larger sums.
Starling’s customer service is generally well-reviewed, but potential borrowers should be aware that the loan is not suitable for those without a current account. This exclusivity could deter individuals seeking personal loan options without existing banking relationships. Overall, while the app-based approach simplifies the borrowing process, the limitations may not work for everyone.
