Bongaloans

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Company Information

  • Company Name:
    Bongaloans
  • Website Address:
  • FCA IP:
    645934
  • Business address:
    BB Credit Ltd, 3rd Floor, 207 Regent Street, London, W1B 3HH
  • Phone number:
    0871 986 0220

Bongaloans (www.bongaloans.com) is a London-based provider of short-term loans. It is notable for permitting mobile applications, as well as its compliance with the rules of the Money Laundering Regulations 2007.

APPLICATION REQUIREMENTS:

To apply for a loan with Bongaloans, you must be 18 years of age or older, own a valid and active UK bank account, and have a UK debit card and a steady source of income. People who have a regular job and have good to excellent credit are encouraged to apply. Bongaloans states that there is an automatic rejection for applicants who have been bankrupt or who have been visited by debt collectors over the past 18 months.

LOAN AMOUNT AND CHARGES:

Bongaloans allows you to borrow between £100 and £1,000 for a period of 7, 14 or 30 days. You are charged £45 on the first, second, fourth and seventh day after you miss your loan payment.

PROCESS:

Bongaloans evaluates your credit history, among other factors, to reach a decision on your loan application, although it does not specify how long this can take. You will be notified by email and text of the decision. If your application is approved, you will receive electronic notification when Bongaloans has authorised the bank transfer. Bongaloans is open during normal business hours from Monday to Friday—specifically, 8:30 a.m. to 5:00 p.m. Thus, there’s a limit to when it executes its loan transfers. The time it takes for the funds to arrive depends on your bank; some banks grant instant transfer, while others don’t. If your bank does not adhere to UK’s Faster Payments method, it could take up to three days for the funds to appear in your account.

PAYMENT:

Bongaloans debits accounts depending on the payments specified in the agreement. You can request for an extension, which would cost you an extra £15.

58 Reviews of Bongaloans

Editors Pick
My gran died last month and I we were short on cash to travel up north for her funeral. It was all a bit of a depressing situation and my husband and I really thought we wouldn’t be able to make it up- the train tickets were far too dear and we don’t currently have a car.

I knew I’d be paid the following week so there wasn’t any concern that we wouldn’t be able to pay a loan back, so I looked into getting a payday loan. I thought it’d be quite complicated but it was very easy with Bongaloans. My credit history isn’t amazing but it’s decent enough, so I got approved quite quickly and we got our loan instantly that day in about 15 minutes, so we were able to go up to the funeral. They informed us by text that we were approved, which was very convenient.

When having a look at the Bongaloans website I was glad to see that the company doesn’t give loans out to people who’ve been bankrupt or have bad credit- I know that might make it difficult for some people who are struggling but I do think loans are best left for those who are 100% certain that they can pay it back. I’ve heard some negative things lately about payday loans being given to people who can’t afford to pay them back, but this definitely isn’t the case with Bongaloans. We paid back within our set week time period and it was all fine. I give 5 stars to every aspect of Bongaloans, very happy with how it all went.

Review posted by Thrifty Chick

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Not too bad... they paid me on time but then hassled me when I didn't pay them back.

Review posted by James Devlin

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bonga loans gave me exactly what i wanted straight away they were quick, efficiant and extremly helpful on the phone.

Review posted by hannah24

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bonga loans were great until i had difficulty paying them back. they're extremley flexible, however, they charge you for every modification you make on your payment plan!

Review posted by thom

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i went straight for bongaloans as the apr looked brilliant in comparison to other competitors.

However i had a few unpaid train tickets that had gone to the debt collectors and i was immediatly refused. oh well will just have to try another site

Review posted by wesley224

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i was really happy with bongaloans until i realised on a saturday that the monday payment wasnt going to go through.

i was then charged £45 as i had missed the date and did not inform them... if theyre call centre had been open over the weekend i could have avoided getting myself into more debt and could have paid them back quicker.

Review posted by justin04

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this company is brilliant they made me feel very secure. The intrest rate is what attracted me and then their ease to move payment dates i also found very helpful, ok they charge 15 pounds for it, but they make that very clear from the start and at least then your not stung with a surprise!

Review posted by williamsorts

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my husband and i have just recently moved back into the u.k. he is english and i am spanish. i needed a quick loan to cover the building work we are doin on our house and this site was the only one i could find that met my criteria.

even though my husband is english, i have kept my bank account over seas. i was immediatly refused an application because of this.

Review posted by fatimalongsdale04

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At first I thought this was a company which only loaned to Africans, but I was pleasantly surprised to find out they would accept me too.

After borrowing £250 I had the money directly transferred to my account. It was easier than I thought, I was worried they'd phone my boss at work to verify I had a job but that didn't happen. Not that it would have mattered but its just a little embarrassing to have to explain you've not managed to make it to the next pay day to be honest!

So no problems with Bonga Loans, would use again.

Review posted by Cameron

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bonga were great, the only thing i found was their late payment charges a little bit steep and awkward to remember.....

i suppose just dont have a late payment

Review posted by blue4

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I am a single mother of three and unfortunately I have been short of money for quite long time now. My youngest needs braces and I can’t afford them, so I applied for a loan yesterday. Hopefully they will grant me the money. Fingers crossed.

Review posted by Jenny

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i only needed to borrow some money so i could get some clothes for a new job, as i didnt already have an exsisting job i was immeadiatly refused. i went to another competator instead.

Review posted by charlie

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Had a few doubts about my loan so I called them several times and they were very helpful. I’m really pleased.

Review posted by Ryan

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bongaloans are really easy to use for first timers. i have always had a ver steady cash flow but then near christmas i found myself in a hole. so i heard about quick loans online and found these guys.

they were very helpful in every aspect

Review posted by howard

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The lady who answered my phone call was a bit rude. I was impatient about resolving a situation and she was not comprehensive. They should hire someone who know how to speak to people who is in a not so good situation.

Review posted by Edwin

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Have nothing negative to say about this company and would recommend.

Review posted by Beyonce

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Not the best loan company who I have worked with but far from the worst.

Review posted by Jarek

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This is a fair company - they explained to me exactly what the charges were, and they took the money back on the day they said they would. I've since borrowed money from them again and it was all quite pain free really.

Review posted by John Ogroats

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I tried to get a loan, they accepted my application but then I decided that I didn’t want the loan after all and they were determined to give me the money regardless of my decision.

Review posted by Honza

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Applied, got the cash. Will apply again if necessary.

Review posted by Thomas

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Very professional and helpful staff.

Review posted by Tim

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As far as I’m concerned, my parents are very pleased by this company. They got their help with the mortgage and so far so good.

Review posted by Arnold

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The application process was quite fast and that was awesome.

Review posted by Giff

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Was very quick and simple to apply and everything was resolved very quickly.

Review posted by Sean

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Had some issues with this loan company but was all sorted out.

Review posted by ok

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I didn’t feel safe applying for an on-line loan but gladly everything went well.

Review posted by Everton FC

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Acceptable rates, joyful but still professional staff, quick response.

Review posted by Gypsy

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One time I failed to pay on time and they called me several times to make sure I was going to sort all out fast. I did, but still find 14 calls in 45minutos a bit too much

Review posted by Gav Jones

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Got the funds sooner than I expected. Great service.

Review posted by Amy R,

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Really nice and handy loan company with nice staff. Found it reliable, fast and really well organized.

Review posted by Di

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just ok for me

Review posted by Hayley Mills

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I’ve applied for a loan and they granted me one. I had repaid the loan without much financial difficulty. I strongly recommend.

Review posted by Francis

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I thought the staff was arrogant and didn't help me at all when I had doubts. But I got the loan.

Review posted by Brian Weston

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I didn’t feel safe applying for a loan on-line but tried and everything went well.

Review posted by HotToTrotScott

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My loan was very easy to arrange and the cash was in my account almost immediately

Review posted by Raceyron

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Hi I applied for a short term loan for the first time in my life and I was amazed when I saw the money in my account the next day.

Review posted by Lewis

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An update on FOS, after looking into my complaint recommended Bongaloans refund me my £4:50 transfer fee along with £30 compensation, they refused but said they agreed to refund £4:50 transfer fee, (they continually refused to refund this before which is why I referred case to FOS). After I stood my ground got refunded £34:50, so off a £100 loan they received £123 from me after 2 days, refunded £16:50 interest which left them £6:50 profit, they claim £4:50 transfer fee to send to me and £1 credit check = £5:50 making a loss of -£1 plus my complaint to FOS being upheld for £34:50 makes a loss of £35:50 I also used quidco and got £20 cash back, in summary I don't think the £4:50 charge happens, they wouldn't profit otherwise.

Review posted by Buzzin

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Do Not Use! This company brakes the law by over charging for loans if you pay off early! I have had this problem 3 times, each time it's taken a complaint to the FOS to get a refund! Avoid at all cost. Only ever had 1 message replied too. When I question the interest on the phone they said we can knock it off your next loan! Talk about trying to trap people in debt! The company is ran by affiliate's so they have no real care for customer service, or the law in the case of over charging me! They only fund your loan at the end of the day so watch out for that. The opening hours don't mean alot, come Friday at 2 o'clock no one will answer the phone!

Review posted by Wighty

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i found this company to offer a good and friendly service and would use again

Review posted by Fizz

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i never thought i or my family would need to use a quick loan company but how things change and i did use bongaloans and if needed would use again

Review posted by Mario

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found them to be a very easy loan company to deal with and would use them again

Review posted by Khan

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i found them to be ok for a quick loan company

Review posted by Darius

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At the time of wanting to apply for a loan you have to realize that there are many options. All banks appear as the best alternative. Banks are offering to millions of people across UK multiple solutions: insurance, loans, annuities, pension plans, among others. Many of them already have a long history and are among the largest on the country. The financial strength of many of them and the numbers speak of the tremendous growth in both the profits and the people involved. To make a loan it is important to know what is the supply on the market. I chose Bongaloans and I do not regret.

Review posted by Tegan Cooke

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Sneaky Company! £5 charge for same day payment! If you roll over your loan it resets the 30 day maker! Meaning they are then over charging on interest! If you repay early they don't automatically reduce the price, only after complaining multiple will they give you the money back! Or offer to take it off your next loan! Excellent practice NOT!
Can be really hard to get anyone to pick up the phone, tho I recon it's a one man company! Complain to much and they cut you off! Closing your account. I have Open the complaint with the financial ombudsman raising the issue of overcharging when paying back early or extending the loan! I have also raised concerns of the practice of refunding customers by discounting the next loan

Review posted by Jo

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Very poor company worst customer service.

Staff are rude and talk in different languages and when you ask the staff a question they tell you to put it in a email even if it's to confirm your balance.

Which tells you the call centre is aboard and they don't understand English.

Good thing is they will give you a loan without a background check.

Put when paying them back the will hassle you for the money.

That is if there phone lines work.

In all and all use them put don't expect then to understand you when you can't pay the money back.

Review posted by Imran khan

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What a joke! I've had a few loans with these guys! Lying is top of there list! They will tell you funding times are 8.30-5pm wrong! It's 5oclock tho they will text you at 3pm saying the funds have been sent! Yet it hasn't! They do it at 5pm trust me I've asked my bank! If you repay early you so still have to pay back the full amount! Or open a complaint with the FO as they are braking the UK laws by doing so. This company is slow and charging £5 for same day funding when they take there sweet time about it is very fustating and a waste of time!

Review posted by John Jones

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I applied for a loan and was approved, fully funded and according to my account the money is already there. I'm grateful for this help.

Review posted by Rosemary

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test review.

Review posted by testS

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Nice company, I had to extend my loan and they were quick to handle that.

Review posted by Steve Burrell

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Sooper, needed £200 and had it in an hour :) :)

Review posted by Janelle

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Bills, bills and more bills, that's what my month has consisted of. After vowing to never take out a payday loan, this month has been the worst for me and I found myself having no other option. I had seen countless payday loan adverts on TV but quite frankly I couldn't and didn't particularly want to remember any of them. I decided in the end to go with Bonga Loans - partly because I liked the name, partly because I was skint.

In the end I took out £200 with a view of paying it back in 2 weeks when I get paid (hopefully). The process as you would expect was easy enough. All you do is fill in your basic info and they said you the cash - can't ask for much more than that. I'm not sure what will happen if you need to borrow more if there are further checks or whatever but for this £200 it seemed really straight-forward.

Review posted by Kerry

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Not too bad at all! £300 deposited and it was in my account by the time I walked to a cash machine. They took the money back on the same day they would, then I used them again a few weeks later when my car broke down and I needed a weekly train pass to get to work.

Review posted by Grant

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Borowed £100 and then extended loan for a small fee. Done what it said on the tin so no complaints

Review posted by Stephanie

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Great company

Review posted by Cool

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Good company, money in pocket 2 hours bro

Review posted by Darrel

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Good company, used many times

Review posted by Shandy

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I arrived from Italy and Bonga Loans gave me money when Wonga wouldn't... very nice :)

Review posted by Paulo

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After being accepted money did go into account 48 hours later.
Tried to repay loan early (after 2 days of borrowing) their site had 30 days interest applied. They said contact them to get revised settlement with interest adjusted.
After some 5 or 6 emails over 2 days all ignored I settled in full paying £23 on £100 borrowing for 2 days, they offered me £16:90 back but they had a £4:50 transfer fee, so I got £12:40. I asked this fee be refunded as if they had answered my email on time I would not have incurred this fee and settled at a lower price.

This was their reply:-

-We have explained very clearly from the onset this £4.50 transfer fee and the reason for it.

Simply put if we had also sent this additional £4.50 to you. Of the £100 we originally sent the amount we would have received back would have been just £97.

So far the total amount received from your loan is £101.50. When deducting the cost of necessary credit and affordability checks, which is £1 (this service is provided by LendProtect). This leaves just 50p, which I am sure you can figure out does not cover the cost of processing your application or the time taken to respond to your correspondences.

So they delayed replying to me, obstructive to maximise interest, I settle they apologise for delay then charge me £4:50 for their delay.

CUSTOMER SERVICE TERRIBLE AVOID AVOID AVOID

Referred to FOS.

Review posted by Buzzin

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