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Making loans make sense.

If you're after the science behind the finance, delivered in plain English, you're in the right place.

Personal Loans

Here, we explore what personal loans are, how much you can borrow, and what you need to know to have your personal loan application approved. We also answer a range of FAQs relating to personal loans and help you learn more about the process of applying for credit.

Personal Finance

Personal finance is a broad term that encompasses everything relating to the way that you manage your money. From the money you earn to your monthly outgoings, your personal finance affects all aspects of your life. As such, we help you understand the importance of good personal finance and introduce you to some ways to budget effectively.

Open Banking

As Open Banking is still a relatively new concept, we explain in detail what it is, how it’s potentially beneficial to you, and how you can opt-in.

Recent articles

Does your credit score change daily?

Introduction  Coming to terms with your credit score is very important, as it can affect various aspects of your life. Whether you’re moving abroad, applying for a new job, or planning to apply for a personal loan, your credit score is likely to come into play. So, to ensure you know what can influence your […]

Why is my credit score low?

Introduction  Understanding your credit score is important if you’re planning to apply for any form of credit. If you don’t know what your credit score is, you won’t be able to work out your eligibility for credit. Below, we answer some important questions relating to your creditworthiness and explain why knowing your credit score is […]

Is a higher APR better?

Introduction  If you’ve been researching different forms of credit, you will have noticed that the given Annual Percentage Rate (APR) is different from lender to lender. But why is this? What influences APR? We answer these questions and more below, helping you to understand the importance of APR when you apply for credit. Is a […]

APR ExplainedPersonal LoansNovember, 15, 2022

Your questions answered

During your application journey, Koyo will ask you to log into your online bank account, so we can access, on a read-only basis your bank transactional data. Only you can choose to share your data using open banking, and the data helps us decide if we can lend to you. Koyo will never see your online banking username or password. We also have no access to your bank account to make changes or withdraw money – and never will.

We use your transactional data to help us with our lending decision. So we can make sure that a loan with Koyo is the right loan for you.

Yes. You can make additional payments at anytime, at no extra costs, (any overpayment may reduce your loan term, rather than your monthly repayment amount). If you wish to repay your loan early in full, please contact [email protected] for an Early Settlement Quotation, a 28 day interest charge will be applied.
No - Koyo do not offer payment holidays, if you are struggling to repay your loan you must contact us to discuss your circumstances, either complete the online contact form, call us on 020 3966 4897 or Email us at: [email protected].
We're sorry to hear that your circumstances have changed. Don’t worry, we are here to help. If you are struggling to repay your loan, get in touch with us asap, you can use our contact us page on our website, call us on 020 3966 4897 or Email us at: [email protected].

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