Bingo Loans Reviews 2025: Is It Legit or Too Expensive?

Looking for a quick financial solution? Bingo Loans Reviews can help you decide whether this UK-based short-term lender is a good fit for your needs.

With easy online applications and fast payouts, it’s important to understand their costs, features, and customer feedback before making a decision.

Bingo Loans is an FCA-regulated UK lender offering £100–£1,500 over 1–12 months with quick online applications and same-day payouts.

While it provides fast access to funds and flexible repayment, its high APR of up to 1261% makes it far more expensive than traditional credit options.

Key Takeaways of Bingo Loans Review

• Loan Amounts: £100–£1,500 with repayment terms from 1–12 months.
• Interest Rates: High APR (up to 1261%), making it costlier than traditional loans.
• Application: Fully online with quick decisions and potential same-day payouts.
• Pros: Fast access to funds, flexibility in repayment, FCA-regulated service.
• Cons: High interest rates, risk of a debt cycle, and short repayment periods.
• Alternatives: Consider creditors, selling items, or government assistance before taking loans.
• Customer Support: Email at [email protected] or visit their Manchester office

---

When unexpected expenses like medical bills, car repairs, or broken appliances come up and you don’t have enough money to bear the expenses and also you can’t ask money from your relatives and friends then only short-term loans are the only option that can shut out your problems quickly. Bingo Loans is one of the companies in the United Kingdom that offers you Short term Loans.

However before taking any loan it is always recommended to go through the details of the loans and the pros and cons and explore the reviews of the loans provided by the old customer.

Feature	Details
Loan Amount	£100 – £1,500
Repayment Term	1 – 12 months
Representative APR	Up to 1,261%
Loan Type	Short-term personal loan
Application Type	Fully online
Payout Speed	As fast as 15 minutes
Regulation	FCA-authorised (Broker)
Early Repayment	Allowed without extra fees
Credit Check	Yes, full credit check
Customer Rating	Average 3.2/5 from public reviews

Quick Take: Bingo Loans offers fast short-term borrowing for emergencies, but the high APR makes it one of the more expensive options.

What is Bingo Loans?

Bingo Loans Reviews often highlight its role as a UK-based company that provides short-term loans, offering amounts between £100 and £1,500 with repayment terms ranging from 1 to 12 months. You can visit their official website for more information about the Bingo loans. Lemon Loans Review.

About Bingo Loans – Is It Legit?

Bingo Loans is a UK-based short-term loan broker operated by The Money Hive Limited, located at 657 Liverpool Road, Manchester, M44 5XD.

It is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 688284. This means the company must follow strict UK lending laws and protect borrowers from unfair lending practices.

Since Bingo Loans acts as a broker, your application might be sent to a panel of FCA-approved lenders if you don’t meet their own lending criteria. This can help increase your chances of approval — but it’s still important to check who you’re borrowing from before signing any agreement.

You can verify their registration on the FCA Register for peace of mind.

Key Features of Bingo Loan

• Loan Amounts: £100 – £1,500
• Repayment Terms: 1–12 months
• Interest Rates: The APR is about 1261%, which is much higher than traditional loans.

Aspect	Details
Loan Type	Short-term loans
Loan Duration	1 month to 12 months
Borrowing Amount	Up to £1,500
Interest Rate	49.9% to 1261% APR
Example Repayment	£300 over 3 months @ 0.8% per day; total repayment: £457.95
Payout Time	As fast as 15 minutes, depending on the provider
Fees	No upfront fees
Official Website	BingoLoans

How to Apply for Bingo Loans

The Bingo Loans application process is easy and fully online. You will get the decision within minutes just after submitting the form. The process is quick to make it more accessible.

Here the step by step process to apply for the loans:-

• Visit the official website of the Bingo Loans.

• Click on the Apply Button.
• Now you will be redirected to fill the application form.

• Fill all the details as shown in your screen like Name,date of birth ,loan amount ,purpose of loans etc.
• After filling all the column ,check your details once again.
• After rechecking, Click on Submit Button.
• Sit straight and wait for the decision.

How Bingo Loans Application Process Work?

The Bingo Loans application process is completely online. You just need to submit the form and you are done.

Simple Online Application

• Use their loan calculator to select the amount (£100–£1,500) and repayment period (1–12 months).

• Review the estimated repayment and proceed by clicking “Apply Now.”

Complete Your Application

• Provide basic personal, income, expense, and bank details.

• If Bingo Loans can’t lend directly, your application is sent to a panel of trusted UK lenders.

Get Your Funds

• If approved before 3 PM (Mon-Fri), funds may arrive the same day.

• Applications after 3 PM or on weekends typically process the next working day.

Repayment Flexibility

• Repay on agreed dates based on your loan terms. Early repayment options may be available.

Credit Checks

• Credit checks are part of the process and could impact your credit score. Check your credit report if declined.

Note:- Borrow responsibly, as late repayments can lead to serious financial consequences.

Pros of Bingo Loan

Bingo Loans offers a convenient solution for short-term financial needs. Here are some key benefits that make them stand out:-

• Quick Cash Access: Apply online and get a decision within minutes—fast and hassle-free.
• Flexible Options: Choose a loan amount and repayment term that fits your needs.
• Trusted and Regulated: Bingo Loans is registered with the FCA, ensuring they follow UK lending regulations.

Cons of Bingo Loan

Bingo Loans can be helpful in emergencies but there are some drawbacks to consider before applying:-

• High Interest Rates: With a steep APR of 49.9%, these loans can be much costlier than regular loans.
• Short Repayment Periods: Loans must be repaid quickly, which might be challenging for larger amounts. Missing payments can lead to extra costs.
• Risk of Debt Cycle: Short-term loans with high interest can be tempting for covering everyday expenses, potentially leading to a debt trap.

How Bingo Loans Compares to Other Lenders (2025)

Lender	Loan Amount	Representative APR	FCA Regulated	Payout Time	Early Repayment	Special Feature
Bingo Loans	£100 – £1,500	Up to 1,261%	Yes (Broker)	15 minutes – 1 day	Yes	Works with multiple UK lenders
Tick Tock Loans	£300 – £1,000	1,297.89%	Yes (Direct Lender)	Same day	Yes	Manual review by loan manager
Lending Stream	£50 – £1,500	1,333%	Yes	90 seconds	Yes	Instant decision and fast payout
Drafty	£1,000 – £3,000	89.7%	Yes	Minutes	Yes	Credit line instead of fixed loan

Takeaway Bingo Loans is quick and accessible but much costlier than lenders like Drafty. Always compare APRs and terms before deciding.

Bingo Loans Interest Rates

High APRs are a common concern in Bingo Loans reviews. For example, borrowing £300 over three months with an APR of 1261% could result in total repayment of £457.95.

• Borrowed Amount: £300
• Repayment Period: 3 months
• Daily Interest Rate: 0.8%
• Total Repayment: £457.95

Understanding how much a loan will actually cost is important before applying.
Here’s an example based on Bingo Loans’ advertised APR:

Example
Borrowing £300 over 3 months at 0.8% per day (Representative APR 1,261%) would cost £457.95 in total.

That’s £157.95 in interest on top of the amount you borrow.

This shows how quickly costs can grow with short-term loans, so it’s best to use them only for urgent financial needs and repay as soon as possible.

Customer Reviews: What Are People Saying?

Customer feedback often highlights Bingo Loans’ speed and convenience. Here’s what borrowers have to say:

• “I applied at 11 AM and had funds by 2 PM the same day. The process was so smooth!” – Sarah, Manchester
• “Great for emergencies but beware of the high-interest rates.” – James, London
• “Their customer service was very responsive when I had questions about repayment options.” – Priya, Birmingham

Some Alternatives of Bingo Loans

If you are considering other options then Bingo Loans, here are some alternatives that might work better for you.

• Talk to Creditors: If you are struggling with a bill, reach out to the creditor to see if they offer payment plans or reduced fees.
• Sell Unwanted Items: You can make quick cash by selling things you no longer need.
• Ask Family or Friends: Borrowing from loved ones can be an option if you have a clear plan to repay them.
• Government Assistance: Depending on your situation, you might qualify for government help. Loan Circle Review

Note: Before taking a loan, always look at its alternative and choose the one that best fits your budget. Loan should always be your last option due to high interest rate. CUJ Loans Review

Things to Keep in Mind

1. Regulation: Bingo Loans is listed as a broker on the Financial Conduct Authority (FCA) website. You can verify their registration at FCA’s official site.
2. Borrow Responsibly: While the company claims to promote responsible lending, always ensure you borrow within your means and understand the high costs of short-term loans.

Before You Apply – Important Checklist

Before you apply for any short-term loan, go through this quick checklist to make sure it’s the right choice:

✅ Check your credit score – Knowing your score helps you understand approval chances.
✅ Compare interest rates – See if you can get a cheaper option from another FCA lender.
✅ Borrow only what you need – Taking more than necessary increases costs.
✅ Have a clear repayment plan – Make sure you can repay on time to avoid late fees.
✅ Avoid using loans for non-emergencies – Short-term loans are best for urgent needs like medical bills or car repairs.
✅ Read all terms carefully – Understand the total cost before signing any loan agreement.

Customer Support

To contact the customer support Visit the official website and click on the Contact us and send your message to the support team. You can also email and send post on the below address.

• Email: – [email protected]
• Address: The Money Hive Limited ,657 Liverpool Road ,Manchester, M44 5XD

Conclusion

Bingo Loans can be a helpful option if you need money quickly and can’t get approved elsewhere. Its fully online process, same-day payout, and FCA regulation make it a legitimate choice for short-term borrowing.

However, the high APR (up to 1,261%) means these loans are expensive and should only be used for emergencies. Late repayments can also affect your credit score.

✅ Good for you if:

• You need funds urgently for a short time.
• You plan to repay early and avoid extra costs.
• You prefer quick online applications.

❌ Not ideal if:

• You qualify for cheaper personal loans or credit cards.
• You struggle with monthly repayments.
• You often rely on borrowing for daily expenses.

Bingo Loans is safe but costly. Borrow smart, compare options, and always make sure repayment fits comfortably in your budget.

If you found this review useful, share it with others who may be considering short-term loans. It might help them make a safer, better-informed decision.