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Finio loans

Thinking of taking out a Finio loan? Read our guide to find out what loans are available and how to apply for them.

Thinking of taking out a Finio loan? Read our guide to find out what loans are available and how to apply for them.

Who is Finio Loans?

Finio Loans is an online lender that provides tools to simplify money management and improve financial wellbeing.

It provides personal loans for people with less-than-perfect credit scores who may have been turned down by other lenders. However, it will only approve your loan application if it believes you can afford the monthly repayments. 

Finio Loans is part of the Oakbrook Finance group, which is regulated by the Financial Conduct Authority. It replaced a previous product called Likely Loans.

Which is the best Finio loan for me?

The best Finio loan for you will depend on what you need the money for and how much you’re looking to borrow.

Finio offers personal loans from £1,000 to £5,000, which you can choose to repay over one to three years.

Its loans are unsecured, which means you won’t need to put up your home or have a guarantor as security to borrow. Interest rates are fixed, so your monthly repayments will stay the same throughout the term of your loan, unless you choose to make extra repayments.

39.9% APR representative (correct as of March 2024). However, the interest rate you’re actually offered will depend on your current financial situation, credit history and loan amount. Finio is not one of the cheapest lenders out there, so if you have a good credit rating you could find lower interest rates elsewhere.

A Finio personal loan can be used to cover a range of costs, including a new car, wedding or home improvements. Alternatively, you could take out a debt consolidation loan to combine existing debts into single monthly repayments. You should always think very carefully before taking on more debt.

Why choose Finio Loans?

Finio Loans prides itself on the speed of its application process. If you’re approved for a Finio loan, you could get the money in your bank account the same day – sometimes even within 10 minutes.

Finio offers loans to those with bad credit, although you’re likely to be offered a higher rate of interest than someone with a good credit record.

It’s straightforward to manage your loan online with an easy-to-use account that lets you make one-off payments, change your repayment date and access all the support you might need.

Eligibility

To be eligible for a Finio loan, you must be:

  • Aged 18 or over
  • A UK resident
  • Employed with a UK bank account.

If you qualify for a loan, Finio will assess your financial circumstances and credit history before deciding whether to approve your application.

Are there any charges?

Finio won’t charge you a penalty fee if you choose to make overpayments or settle your loan early (but you may be charged up to 28 days’ interest).

If you miss a payment, you’ll be charged additional interest that will be added to the balance of your loan.

Why compare loans with Compare the Market?

It’s quick and easy to compare loans from Finio and other providers using our comparison service.

Compare loan eligibility quickly

Check which loans you’re eligible for in under 4 minutes[1]

Find out what loans you could be eligible for

Without it impacting your credit score

See loans from a wide range of providers

We compare loans from 33 lenders[1]

[1] Correct as of December 2023.

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

How well is Finio Loans reviewed on Trustpilot?

Finio was rated 4.8 on Trustpilot in March 2024.

The score 4.8 corresponds with the star label ‘Excellent’.

See Finio’s current Trustpilot rating.

Frequently asked questions

How much can I borrow from Finio Loans?

Finio offers personal loans of between £1,000 and £5,000. The amount you’ll be able to borrow will depend on your loan requirements, financial situation and credit history.

You can use our loan calculator to get an idea of how much you could afford to borrow and how much it could cost you to repay each month.

Can I get a Finio loan with bad credit?

Finio offers bad credit loans specifically aimed at people with a poor credit score. You’re likely to be charged a higher rate of interest than someone with a good credit history, so it may be worth seeing if you can improve your credit score before applying.

You’ll only be approved if Finio believes you can afford to repay the loan in full after carrying out a credit check on your finances.

How to contact Finio Loans

You can use the live chat function to speak to Finio’s customer services team online or email them using the online contact form.

Alternatively, you can send an SMS via 0798 437 2073 or phone Finio on 0208 080 6457 (Monday to Friday: 8am-6pm, Saturday: 9am-1pm).

How do I apply for a Finio loan?

You can apply online for a Finio loan. Provided you agree, the lender will use secure open banking to see your current account transactions in real time. This helps speed up the affordability check process so most applicants can get an instant decision.

In some cases, you may be asked to provide supporting documents, such as a copy of your driving licence, so the lender can verify your ID.

Before making a full application, you can check whether you’re likely to be accepted using our loan eligibility checker. It uses a soft credit check to show you which loans you have the best chance of being accepted for without impacting your credit score.

Can I pay off a Finio loan early?

You can pay off a Finio loan in full at any time by logging into your online account.

There’s no early repayment fee, but you will need to get an early settlement figure. This is the amount left to pay, including interest, and is valid for 28 days.