Loans
Koyo Personal Loans review: up to £12,000
Thinking of applying for a Koyo Personal loan? Check out our review to learn more about the features and benefits! Personalized rates!
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Lower your payments with a longer repayment plan with Koyo Personal Loans
Are you looking to access funds quickly and conveniently? If you are, this Koyo Personal Loans review might be just what you need.
Koyo Personal Loans: all you need to apply
Take a look at this blog post and discover how easy it is to apply for Koyo Personal Loans. Borrow up to £12,000 in no time! Read on!
Whether it’s for a home improvement, unexpected car repair, or some other purpose – Koyo can provide an affordable solution for your needs.
APR | Personalized, ranging from around 28% to 36.9%; |
Loan Purpose | Loans for many different purposes: home improvement, debt consolidation, car loans, and any other purpose you’d like to use your money for; |
Loan Amounts | from £3,001 up to £12,000; |
Credit Needed | You’ll need a good or excellent credit score, even if you don’t have a long credit history; |
Terms | 6 months to 5 years; |
Origination Fee | Not disclosed; |
Late Fee | Not disclosed; |
Early Payoff Penalty | There is no early payoff penalty, and you can pay your loan as soon as you want to. |
Koyo Personal Loans details
Koyo Personal Loans is the perfect choice for anyone in the UK looking to borrow money with affordable and no hidden fees.
You’ll get a fixed loan rate with flexible repayment periods of up to five years, so customers can choose a payment plan that meets their needs and budget.
Even though you do need a good credit score to apply, you don’t need a long credit history. So if you’re a student or just a young adult, you can give it a try.
To make sure you won’t go through a hard check for no reason, Koyo allows you to check your eligibility. To do this, they’ll check your bank account history.
This might seem a little awkward, but it is a safe procedure that will show your spending habits and real monthly income.
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Koyo Personal Loans: pros and cons
Let’s review some of Koyo Personal Loans’ pros and cons so you can make a mindful decision about it:
Pros
- Fixed rates personalized according to your creditworthiness;
- Loan amounts ranging from £3,000 to £12,000;
- Pre-qualify with a bank history check before Koyo make a hard inquiry in your credit score;
- The application is online, and Koyo has no hidden fees whatsoever.
Cons
- Available for customers with good or excellent credit scores;
- You must be living in the UK for at least 6 months before you’re able to apply for Koyo Personal Loans;
- Some people don’t like the idea of having their bank account history analyzed.
What is the minimum credit score to apply?
Even though there is no exact minimum credit score disclosed, we do know that it has to be at least a good one.
If you’re just starting out your financial life and have 6 months of good credit history, you’ll be considered.
However, if you have a history of too many late payments or debts, you have a low chance of being approved for Koyo Personal Loans.
Koyo Personal Loans: steps to apply
Koyo is different from other lenders in the UK.
If you’re interested in becoming one of their satisfied customers, read the following content and learn how to apply for it.
Koyo Personal Loans: all you need to apply
Take a look at this blog post and discover how easy it is to apply for Koyo Personal Loans. Borrow up to £12,000 in no time! Read on!
About the author / Julia Bermudez
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