First Direct Bank Loans

1404 reviews

3% Representative

Will lend between: £1,000 - £50,000

Over: 12 - 84 Months

Representative example: Representative Example: If you borrow £16,000 over 60 months at a representative rate of 3.0% APR and an annual interest rate of 3.0% (fixed), you would pay 84 monthly instalments of £287.49. The total charge for credit will be £1,249.28 and the total amount payable will be £17,249.28.

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First Direct Bank Loans customer reviews.

1404 reviews

2.2 out of 5 stars

Very helpful
14:56 07-10-2011
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Speedy payment


11:15 11-07-2011
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I just hoped they could help me in my hour of need


MORONS at Foremostly Dire
13:12 28-04-2011
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I've banked with these jokers for FOURTEEN YEARS! 13 of these years I've been an exemplary customer. I set up my own business recently and informed them my account would be in difficulties until I could organise a biz loan or finance to assist me. Despite constant calls to inform them of my financial status, keeping them updated, being responsible about my debt and only ever being late by a few days (worst was one payment which was 2 weeks), they have been PATRONISING,UNHELPFUL, RUDE and downright threatening! I clearly don't fit in to their little tick boxes any more so they feel they have every right to tell me off and drown me in ever increasing late payment charges. Its a JOKE. Go to a bank where you can deal with a local manager and staff who actually give a rats, have a brain and can think outside the box and not try to put you in one...permanently!!!!!!!!!!!!


my first time
06:59 17-02-2011
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it is ok


10:58 28-01-2011
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almost to good to be true


i wanted to do my driving lessons and buy a car
00:10 03-12-2010
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my first loan
06:37 02-12-2010
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cant belive how easy it was im happy


excellent banking
05:38 30-11-2010
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fantantastic customer support and easy to talk with.


My first loan
06:45 24-11-2010
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It's a real struggle to look for a loan but with First Direct it is so easy!!! I am confident that my loan will be accepted. I think it's the best choice I've made!!!


Wanted to join my loans together
17:14 15-09-2010
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I have been with First Direct for 19 years now and I have had a couple of loans with them and also a credit card. When I called once to ask about joining my loans together to get a lower interest I was spoken to by a rude and unhelpful member of staff. I was made to feel stupid and to this day I still have both loans active.


Our review of First Direct Bank Loans

First Direct are part of the HSBC group and offer reasonable rate unsecured personal loans. To apply you will need to have good credit as well as a First Direct 1st Account, however you can set one up quite easily if you’re not an existing customer. Once your account is live, this will be where the loan is paid out and you’ll need to make standing orders from it each month for your repayment. The Representative APRs are low and affordable if your financial circumstances allow you to get those rates.

Their flexibility offers customers the chance to apply either online or over the phone, however, if you’re looking for a speedier process then online is your best bet. If you complete your application over the phone then you’ll need to wait for them to send out your documentation, sign it and then send it back.

As can be expected, there are both positive and negative reviews across the web. The majority of the negative reviews on TrustPilot, where they have a rating of only 2.1 out of 10, are about the other services they offer rather than the loan side of things specifically. Scrolling through the reviews there are generally positive ones for loan customers who have found the process smooth and encountered great customer service.

Overall verdict: If you have good credit and don’t mind a detailed application process then First Direct could be a good lender, especially considering their low interest rates. It can seem inconvenient to have to open a current account with them, but on the other hand having your finance all in one place can feel comforting.

Written by: Alex


  • Easy online application and loan management
  • Approved applicants have funds almost immediately
  • Able to overpay and reduce interest over loan term
  • Low interest rates

Minimum criteria

  • You must be a First Direct 1st Account customer
  • You will need to have good credit history


  • Maximum APR 18.9%
  • Arrangement fee: £0
  • Early repayment fee: £3
  • Late payment fee: £0

About First Direct Bank Loans

First Direct, a trading name of HSBC Bank, offer unsecured personal loans between £1,000 and £50,000 that can be repaid over a period of one to seven years in fixed monthly payments. Their advertised Representative APR is 3.0% which is available for loans between £15,050 and £30,000. You will need to have good credit to apply and your personal circumstances may mean that you receive a different APR.

The loan must be repaid via standing order from a First Direct 1st Account, which means that if you’re not an existing customer you will need to set one of these up before you can apply for the loan. However, this does mean that if you are successful in your online application then the funds will show in that account almost immediately. If you are completing the loan application over the phone, then it will take longer as First Direct will need to send over your agreement which you will then need to sign and send back.

First Direct offer some repayment options such as early repayment and customers are allowed to overpay which may reduce the amount of interest over the term of the loan. They do not allow repayment holidays and missed payments will incur interest charges and could harm your credit rating if it persists.

Company information

Registration number: 00014259


8 Canada Square, London E14 5HQ

FCA registration

Reference No: 114216

Trading names: HSBC Bank PLC, First Direct

Place of business: 8 Canada Square, London E14 5HQ

Data protection registration

Registration No: Z5734875

Data controller: HSBC BANK PLC

Address: 8 Canada Square, London E14 5HQ

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