Making loans make sense.
If you're after the science behind the finance, delivered in plain English, you're in the right place.
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 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.
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 […]
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 […]
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 […]
Your questions answered
Why are you asking me to log into my bank account?
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.
What do you do with my transactional data?
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.
Can I pay my loan off early?
Important: Settlement quotes are valid for 28 days and the amount due is the balance outstanding, plus 28 days interest.
Can I have a payment holiday on my loan?
My circumstances have changed what should I do?
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