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Use our loan calculator to understand what your highest monthly repayment will be, and your total loan amount repayable.
Existing loans: How much did you borrow in total on your Bounce Back Loan (including any top-up)?
Highest monthly repayment (at month 13):
Total amount repayable at 6 years:
Your capital repayment amount will be the same each month, but you’ll pay less interest each month as you repay the loan. Your first monthly payment will be the highest and they’ll reduce each month until the loan ends.
We will not charge you any fees in connection this loan (including if you are in breach of your loan agreement) or default interest (although if you miss a payment you will continue to owe interest at the rate of 2.5% per annum on the amount of the loan outstanding).
We will allow you to repay all, or part, of the loan early at any time. We will not charge you any fees for making an early repayment. There is no minimum repayment amount when making additional overpayments on your Bounce Back Loan.
We will keep you informed about the state of your loan and provide you with appropriate information, including:
We will provide you with information in a way which is clear, fair and not misleading.
If you took out a Bounce Back Loan, we will:
If you do not make payments on time or breach other terms of the loan, we may:
We will always give you reasonable notice about any action we intend to take before we do so. This will include giving you an opportunity to remedy any breach (where it is capable of remedy) within a reasonable period. If a breach is remedied within this period we will not treat it as an event of default.
We will always make every effort to meet the high standards we have set ourselves, but if you ever feel we have fallen short of what you expect, or are dissatisfied in any other way, then please tell us. Please make sure your usual contact at the bank knows about it and tell them how you think it could be resolved. Alternatively, you can call or write to us using the following details:
We'll usually respond to you within five working days in writing to tell you what we've done to resolve the problem, or acknowledge your complaint and let you know when you can expect a full response. We'll also let you know the name and contact details of the person or team dealing with your case.
If you wish to make a complaint, you can find out more about our complaints procedure and how to contact us here.
If you are dissatisfied with the way we have handled your complaint or if it has been over 8 weeks since you first raised your complaint with us, you may be able to refer your complaint to the Financial Ombudsman Service ("FOS"). The FOS will only consider your complaint once you've tried to resolve it with us, so please take up your concerns with us first and we'll do all we can to help.
Further information on the FOS, including more detailed guidance on those who are eligible to complain, can be found on their website www.financial-ombudsman.org.uk or by telephoning 0800 023 4567 (if you’re calling from outside the UK call on +44 20 7964 0500) by emailing firstname.lastname@example.org or by writing to:
Financial Ombudsman Service
Harbour Exchange Square
London E14 9SR
The Bounce Back Loan Scheme is not subject to the usual consumer protections that apply to business lending, and as such will not have the benefit of the protection and remedies that would otherwise be available under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974.
The Bounce Back Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk