|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £25,000|
|Loan terms available||12 – 60 months (5 years)|
|Age eligibility requirements||Minimum 21 years old|
|Access for lower credit scores||Low chance of approval – no bankruptcy or CCJ statuses accepted|
|Chance of acceptance available||Yes|
|Loan pay out time after approval||24 hours|
|Early repayment options||Yes|
Who is Fluro?
Fluro is a peer-to-peer lender that champions of fair and affordable lending. They’ll give you a quick online decision with real rates and are committed to providing an excellent customer experience. Launched back in 2014, Fluro uses advanced technology to provide an exceptional service for their customers. Fluro aren’t just here to provide loans. They want to change the industry for good.
How much can I borrow with a Fluro personal loan?
Fluro offer personal loans from £1,000 to £25,000 which you can spread over terms of 1 to 5 years. The amount that you are eligible to borrow will depend on your personal circumstances.
What interest rate will I get from Fluro?
The interest rate you’re offered for a Fluro personal loan will depend on your credit score and personal circumstances. If you’ve got a healthy credit score, it’s likely you’ll be offered a lower APR. This means that your monthly repayments will be lower.
If you’ve hit a few bumps in the road with your credit history or you haven’t had the opportunity to build up your credit history at all, you may find that the rates you’re offered are a bit higher. This is because you’ll appear a riskier person to lend to by lenders.
Need to give your credit score a boost? Check out our top tips for improving your credit score.
What can I use Fluro personal loans for?
You can use Fluro personal loans for a whole range of purposes, from giving your home a makeover to upgrading your car or funding a wedding. Popular uses of personal loans include:
- Consolidating your debts
- Making home improvements
- Buying a new car
- Going on holiday
- Funding a wedding
Who is eligible for a Fluro personal loan?
Whether or not you are eligible for a Fluro loan will depend on your personal circumstances, credit score and Fluro’s eligibility criteria. When assessing whether a person is eligible for a loan, most lenders will take into account how risky a person is to lend to based on their credit score and whether they can afford to take on the loan. To assess your affordability, Fluro may look at things like your income, outgoings and how much debt you already have.
To be eligible for a loan with Fluro, you’ll need to:
- Be aged 21 or over
- Have a UK bank account (or building society account)
- Have been a UK resident for a minimum of 3 years
- Have a monthly income of more than £850 per month
- A strong credit history with no CCJs, bankruptcies or debt relief orders on your credit file
How quickly do Fluro payout their loans?
On average, after your application has been approved, Fluro pay out their personal loans within 24 hours. Personal loans are often a lot quicker to underwrite and approve than secured loans as there is less paperwork involved. This means that many personal loan lenders can process and payout your loan in a couple of days, if not on the same day.
Can I repay my Fluro personal loan early?
Yes, you can overpay or repay your loan early at no added cost. This means that if your circumstances change and you can afford to pay off your loan early, you’ll save money on interest.
Can I apply for a Fluro loan if I’m self-employed?
Yes, Fluro accept applications from those who are self-employed. If you are self-employed, sometimes lenders need you supply additional documents to assess your affordability. If you are eligible for a loan with Fluro, they’ll let you know if they need anything extra from you to make their decision.
Does Fluro have Open Banking enabled?
Yes, you can verify your affordability and provide digital bank statements securely using Open Banking. If you use Open Banking, please link to the account that your income is paid into for the best chance of being accepted.
If your bank account provider isn’t listed on Open Banking, you can manually send three months’ worth of bank statements to Fluro instead. You can either do this by emailing Fluro or uploading them to your Fluro account borrower dashboard.
Are there any added benefits to a Fluro personal loan?
There are a number of advantages of borrowing from Fluro:
- See real rate options so you know how much your loan will cost you
- Award-winning customer service
- Overpay or repay your loan early at no extra cost
What should I consider before taking out a Fluro loan?
As with all borrowing, it’s important to make sure you only borrow what you can afford to repay.
- You might need bank or ID verification
- Your loan offer will be subject to final lender and fraud checks
- Fluro may need to get in touch over the phone if they have any questions about your application
- Missed repayments can negatively affect your credit score
How do I check my eligibility for Fluro personal loans?
Here at Aro, we can help you check your eligibility for a Fluro personal loan without harming your credit score. Simply fill in your details and we’ll check your personal loan options with Fluro and over 50 other UK lenders in minutes.
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