|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £10,000|
|Loan terms available||12 – 60 months (one – five years)|
|Age eligibility requirements||Minimum 18 years old|
|Access for lower credit scores||Loans available designed to support with lower credit scores.|
|Chance of acceptance available||Yes|
|Loan pay out time after approval||Three working days|
|Early repayment options||Yes|
Who is Finio?
Finio is a UK company who have a clear aim to be the country’s most trusted lender. They offer personal loans backed by a focus on simplifying and personalising borrowing, and provide great customer service. Their online decisions use real rates to show the best option for you.
How much can I borrow with a Finio personal loan?
Finio offers personal loans to customers, ranging from £1,000 to £10,000. They can be taken out across a range of repayment term plans, so that you can tailor your loan to suit your own financial situation. The specific amount you are eligible to borrow will change in a way that reflects your credit history and personal circumstances.
What interest rates can I get on a loan from Finio?
Finio uses real rates in their potential offers to help you make the right decision. Any offer you receive will be dependent on your credit history and personal circumstances. If your credit score is higher, this may result in being offered a lower APR, which could reduce your monthly repayment amounts.
If you haven’t built up a large credit history or have had challenges with credit and repayments in the past, you may be offered higher rates as lenders may see a lower credit score as meaning you are a riskier person to lend money to.
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What can I use a personal loan for?
Personal loans don’t have many restrictions on what they can and cannot be used for. Most people use them for larger expenses in their lives where they need more cash on hand, with some of the more common reasons below:
Who is eligible for a personal loan from Finio?
Finio will take into account your personal circumstances and credit score when assessing if you are eligible for a personal loan. Any improvements to your credit score are likely to make a difference to both your eligibility for loans and the potential rates you could be offered on a repayment plan.
Finio also has loans designed to support those with lower or poorer credit scores, so any challenges you may have had do not necessarily prevent you being eligible for a personal loan with Finio.
You will need to:
- Be a permanent resident of England, Wales or Scotland
- Have been living in the UK for at least the past two years
- Own a UK bank account
How quickly do Finio pay out their loans?
Finio aim to have all loans paid out within three working days of the agreement being signed off and approved.
Can I pay off my Finio personal loan early?
Yes – and even better, they don’t charge an early repayment fee for doing so. You can make a full settlement or simply add extra payments at any point in the repayment term.
Does Finio use Open Banking?
You might be asked to share your banking information with Finio as part of your application. This allows them to get a better picture of how eligible you are for a loan and make a more personalised offer that suits you better. It isn’t a requirement, but it is asked for and may influence the rates offered to you.
What should I consider before taking out a personal loan from Finio?
As with any form of borrowing, you should only ever borrow an amount of money that you are confident you will be able to repay. You might also need to consider these:
- You should have proof of your address
- You should have proof of banking details and personal ID
- Your loan offer may still be subject to financial fraud and lender checks
- Any missed repayments can have a negative impact on your credit score
How do I check my eligibility for Finio personal loans?
At Aro, we can run an eligibility check for you without harming your credit score. This means we can show you how likely you are to be offered and accepted for loans with Finio, as well as over 50 other lenders. Simply fill in your details and see what rates are available to you.
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