Koyo Loans

1060 reviews

Representative 24.9% APR

Will lend between: £1,500 - £12,000

Over: 6 - 60 Months

Representative example: If you borrow £4,000 over 36 months, at 24.9% Representative APR and an Interest rate of 22.44% pa (fixed), you would repay 35 monthly payments of £154.24 and a final payment of £153.91. The Cost of Credit would be £1,546.36. Total amount payable £5,546.36

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  • Quick 40 second form.
  • No impact on your credit file.
  • Free personalised eligibility score.
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Koyo Loans customer reviews.

1060 reviews

4.8 out of 5 stars

Our review of Koyo Loans

Koyo is the UK’s first lender to base its lending decision on open banking as opposed to your credit file. This makes Koyo an exciting prospect for those who are new to the country or have a limited credit history (known in the industry as a thin or ghost file).

By utilising open banking technology Koyo is able to offer one of the most competitive rates for an alternative lender. You can expect to receive an APR between 25% - 45%. Applying for a loan with Koyo takes around 3 minutes, and you should receive a decision within 1 working day.

It’s key to note that Koyo does not offer loans to those with a poor credit history. Therefore  If you’re looking to borrow money and have a history of defaults, CCJs or missed payments, applying with Koyo is unlikely to be the answer.

Mark Grimley
Written by
Mark Grimley
Head of Partnerships & Take Control Author at Choose Wisely

Mark joined Choose Wisely in 2015. He continues to work in close contact with the providers, brokers and journalists operating in the world of consumer credit.


  • No upfront fees or late repayment fees
  • You don't need a guarantor
  • You don't need 3 years of address history, just 6 months will do

Minimum criteria

  • Cannot be self-employed
  • Cannot be bankrupt
  • Must not have any CCJ's or history of bad credit


  • Maximum APR 30.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

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About Koyo Loans

Koyo Loans is an unsecured lender offering loans from £100 to £5,000 over 12 to 36 months and they offer loans to customers who are new to credit, or have no credit history at all due to being new to the country. Koyo Loans identified that there are over 6 million of these poeple in the country and thye're on a mission to provide fairly priced credit, to those who have little or no options through no fault of their own, with a vision to help create a world with greater mobility by providing everyone with their fundamental right to credit.

There are no upfront costs or late repayment fees. If your application is approved, money could be in your acount within 1 working day. 


Company information

Registration number: 11483187


020 3966 4897

Huckletree Soho Koyo Loans,

FCA registration

Reference No: 826425

Trading names: Koyo

Place of business: Huckletree Soho Koyo Loans, Ingestre Court, Ingestre Place, London, England, W1F 0JL

Data protection registration

Registration No: Z1115669

Address: Huckletree Soho Koyo Loans, Ingestre Court, Ingestre Place, London, England, W1F 0JL

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Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk