Ikano Bank home improvement loans

With an Ikano Bank home improvement unsecured loan you can borrow between £1,000 - £15,000 over 12 to 60 months

Low rates from 3.5% APR Representative on loans between £7,500 and £15,000
Once approved you can have the money in your bank the next working day
It only takes 10 minutes to apply and sign online
Get your personalised home improvement loan quote with no impact on your credit score

Get your personalised home improvement quote

Moneyfacts Awards 2017 - winner - best personal loan provider

Here's why an Ikano Bank home improvement loan could be the right choice for you.

People up and down the country have chosen our personal loan to help them improve their home.

Over the last 21 years we've helped thousands of people in the UK turn their home plans into a reality

We've made our home improvement loans easy to manage with fixed monthly payments

You can make extra payments with no fees giving you more flexibility

Owned by the family who founded IKEA, we’re proud that millions of UK customers have chosen us

Home improvement loans - All you need to know

At Ikano Bank we want to make getting a home improvement loan as simple as possible. Here are some guides to help you compare the different ways to borrow.

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Home Improvement Loan Calculator

Loan amount

Loan term

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Your loan

Cost of credit

Interest rate (fixed)

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Total amount repayable

Representative APR

Monthly payment

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Get a quote and apply

Representative Example: Loan amount; £10,000, Term; 48 months, Monthly repayments; £223.32, Total amount repayable; £10,719.36, Cost of credit; £719.36, Interest rate (fixed); 3.4%, Representative 3.5% APR.
This calculator will give you an idea of what most people will pay. To see the rate you could be offered, get a personal quote. The maximum APR you could be offered is 29%.

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 below, for more questions and answers see the full list.

What is a personal loan?
Read our simple personal loans guide to find what a personal loan is.
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.

What happens if I miss a payment?
Each month your loan payments will be taken by Direct Debit. When you apply, you can choose the date this payment will be taken each month.

If these repayments are not made on time you will be charged a fee.

Late payment fee - £25
Unpaid direct debit fee - £12
Returned cheque or debit card payment - £12

Missing payments or paying less than the minimum amount could make it more difficult to arrange credit in the future. If you miss a number of payments a 'default' would be recorded on your credit file at Credit Reference Agencies and you may also face legal proceedings.

If you have a loan with us and are concerned about making payments, please contact us as soon as possible. We have a team of trained advisors who can help and support you - call us on 0344 856 5743
When do I get my money?
If your application is accepted online we do some checks overnight to keep you safe from fraud and identity theft.

If everything is ok, we'll email you the next day to confirm that your application has been approved. You would then receive your money the next working day.
What is a personal loan?
Read our simple personal loans guide to find what a personal loan is.
What is a representative APR?
The APR (Annual Percentage Rate) is the rate of interest payable for the money you would like to borrow. This is worked out on a yearly basis and allows you to compare our rates with other lenders. The representative APR is the APR that at least 51% of customers will pay, but is not necessarily the rate that you would be offered.
You can get a personal quote here.

Important Information

Who we lend to

What you need to apply

UK residents over 18 years old (excluding Isle of Man and Channel Islands)
with an income of at least £10,000 a year
with a good credit history, no previous County Court Judgments, Debt Relief Orders, Individual Voluntary Arrangements, defaults or bankruptcies
with a UK bank account in your name which accepts Direct Debits

If all of these apply this doesn't guarantee that your application will be accepted. We will need to do some additional credit and affordability checks.

Your address(es) with postcode for the past 2 years
Current employer’s name and address, and how long you’ve worked there
Bank or building society sort code and account number
Your monthly income after tax and information about any other related household income
Monthly mortgage or rent amount and any childcare payments or school fees
An email address, so we can contact you about your loan

Our UK contact centre

If you have any questions about personal loans you can call us on 0371 781 3058

We are open:

Monday to Friday 8.30am-8.00pm
Saturday 8.30am-6.00pm
Sunday closed

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.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.