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Welcome to Ikano. We're a bank that puts our customers at the heart of everything we do, so treating you fairly comes naturally.

All our energy goes into creating financial products that are simple, easy to understand and designed to make life better for you.

We know that making the most of your money is important to you, whether it’s growing your savings with our fixed and easy access savers, or using our store cards and loans to help when that inspiration strikes or when you need to spread the cost.

Online security

Stay secure

At Ikano Bank we take your personal security very seriously and take every possible step to protect you from known fraudulent activities that may occur online, over the phone or via email. However, it's always best to stay vigilant and cautious. If you're contacted by Ikano Bank we will never:

  • ask you to provide any bank details via email.
  • ask you to provide any bank details via the telephone before asking you security questions.
  • contact customers regarding competitions or promotions offering substantial cash rewards. 

Keeping your personal loan simple

Born in Sweden and owned by the family who founded IKEA, Ikano Bank has provided finance to millions of UK customers over the last 21 years and it’s taught us one thing, to keep things simple and that’s exactly what we’ve done to our personal loan product.

  • A personalised quote in less than 2 minutes – with no impact on your credit file
  • Apply in less than 10 minutes and sign online
  • Once your loan is approved, money in your bank the next working day
  • You can make extra payments with no fees

Your questions answered

  • What is a personal loan?
  • What is a credit search?

    When you apply for credit (either with Ikano Bank or with any other lenders), a credit search is carried out. Credit searches help lenders make informed, fair decisions about lending money, as they can see what financial products you have and how well you've managed them in the past.

    The 'search' is where lenders request information about you from credit reference agencies. There are 3 main credit reference agencies in the UK (Experian, Call Credit and Equifax). These agencies hold lots of information about adults living in the UK - including whether you're on the electoral roll, financial products you have, how much you currently owe and how well you've managed any financial products you've had (for example – have you missed any payments, any county court judgments etc).

  • Can I pay my loan back early?

    You can make overpayments or additional payments at any time with no fees or charges.

    When you overpay, your monthly payment amount stays the same but your overall amount will reduce. So, depending on the amount you overpay you will either have fewer monthly payments or a reduced final payment amount.  

    For example, if you only make a small overpayment - your final payment will be less than your usual monthly Direct Debit payments. For larger overpayments - your final payment will happen sooner (reducing the length of your loan).

    If you would like to pay back the full amount you owe, call us on 0371 781 3058* or write to us - Ikano Bank, PO Box 10081, Nottingham, NG2 9LX

    We'll let you know:

    • how much you need to pay ('settlement balance')
    • when you need to pay us by (the ‘settlement date’)
    • how much interest you will save by paying back early

    Your settlement figure will include up to 58 days interest, in line with the Consumer Credit (Early Settlement) Regulations 2004.

    *Calls to this number cost the same as a call to a standard '01' or '02' landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate. Calls may be recorded for training purposes.

  • What is a personal quote?

    A personal quote is where we show you what APR (Annual Percentage Rate) you would be offered and exactly how much your monthly payments would be if your application is accepted.

    Most lenders show you the representative APR - the rate most customers are offered but not necessarily the one you will get.

    To give you a quote, we carry out a credit search. Don’t worry, other lenders are not able to see this on your credit file. This means that getting a quote from us won’t affect your ability to get credit in the future.

In plain English

We like to keep things simple. We try to use plain English and avoid using jargon, so our products and services are easy to understand. We’ve answered a few questions here, but for more questions and answers see the full list of FAQs