Finio Loans

Compare rates and check your eligibility* for personal loans from Finio Loans

Finio Loans Loans logo
See if you're eligible for a loan
Check Eligibility

What our Nerds say about Finio Loans



Finio Loans is a new brand launched by Oakbrook Finance, replacing Likely Loans. The lender currently offers loans from £1,000 to £10,000 which you could use, for example, to buy a new set of wheels, refurbish your kitchen, or consolidate any existing debt.

Finio personal loans

You could borrow between £1,000 and £10,000 from Finio Loans.

You would then repay this loan in monthly instalments, over a period of 12 to 60 months, depending on your financial situation and the amount you borrow.

Finio loan rates

If you take out a loan from Finio, you will need to pay interest. Finio will determine the interest rate you receive, based on factors such as the amount you borrow, the repayment term, and your credit score.

The lender will show you the cost of the loan using a figure called the annual percentage rate, or APR. This percentage tells you how much a loan will cost you over one year, including any standard fees as well as the interest rate.

You will receive a personal APR when you apply for a loan. This rate is set by the lender based on your individual circumstances, and it may be different from the representative APR that Finio advertises.

The representative APR is the highest rate that 51% of people who successfully apply for a loan would receive, which means the remaining customers could be charged more than this.

Can I get a secured loan from Finio?

Finio only offers unsecured personal loans, so you don’t need to put forward any property, such as your house, as security.

Secured loans require some form of security, or collateral, which the lender is entitled to repossess if you default on the loan.

Pros and cons of Finio loans

There are a few advantages and disadvantages you’ll need to weigh up, depending on your financial circumstances.


  • You may be eligible if you have a less-than-perfect credit history.
  • You can check your eligibility before applying, without affecting your credit score.
  • You can apply for a top-up loan if you want to borrow more.


  • You may be able to borrow a larger sum from other lenders.
  • You can’t get a joint loan or guarantor loan.

How do Finio loans work?

Before applying for a loan from Finio, you can check your eligibility online. You will need to provide some personal information, and the lender will run a soft credit check to see if you qualify for a loan.

If you are eligible, you can then submit a full application (which will involve a hard credit check).

Once everything is approved, Finio will transfer the loan to your account. You will then repay the money in fixed monthly instalments until the end of the repayment term.

Can I pay off my Finio loan early?

You can make extra repayments on your Finio loan to reduce the total amount you owe. Your monthly repayments would stay the same but your loan term will reduce.

You can also choose to pay off your loan in full before the repayment date by asking Finio for a settlement figure. Finio doesn’t charge an early repayment fee to do this, but it will charge 28 days’ interest to cover the period between your last repayment date and the settlement date.

Can I top up my Finio loan?

Finio may allow you to apply for a top-up loan. This is a new loan agreement that will cover the outstanding balance on your existing loan, plus the extra amount you want to borrow.

For example, if you owe £1,000 and you want to borrow an extra £1,000, Finio would transfer you the £1,000 and you would have a new loan worth £2,000. You will then only have one monthly payment to pay off this loan.

If you apply for a top-up loan, Finio will conduct all the same credit and affordability checks as it did when you first received an eligibility quote and applied for a loan to make sure you can afford to borrow this additional amount.

What if I miss a payment?

Finio will charge more interest if you miss a payment. A missed payment could also be reported to credit reference agencies and affect your credit score.

If you’re finding it difficult to make payments on your Finio loan, you should contact Finio as soon as possible. The lender will assess each situation on a case-by-case basis to help you work out what the best option is for you, such as arranging a new payment plan or suggesting you seek help from a debt charity.

What can I use a Finio loan for?

Finio allows you to use a loan for a range of purposes, including:

  • making home improvements
  • purchasing a new vehicle
  • paying for a special occasion, such as a wedding or holiday
  • consolidating debt

Restricted uses

Finio won’t allow you to use its personal loans for several activities, including:

  • gambling
  • investing
  • business purposes
  • buying land or property (including towards a deposit)
  • anything illegal

Finio loans eligibility criteria

To qualify for a Finio loan, you will need to meet the following requirements:

  • You need to be aged between 18 and 73 years old.
  • You must be a UK resident.
  • You must have a UK bank account.
  • You can’t have been made bankrupt in the past 12 months.

If you meet these basic criteria, Finio will look at your financial situation and your credit history to see if you could afford to repay a loan.

Can I get a Finio loan with bad credit?

It may be possible to get a loan from Finio with a bad credit history. Finio says that it will consider applications from people who may have had problems with credit in the past.

However, you’re not guaranteed to get accepted. Finio will conduct the usual credit and affordability checks to make sure you can afford to borrow. Bear in mind that, if you are approved, a borrower with bad credit is likely to be charged a higher rate of interest than someone with a better credit history.

You can check your eligibility for a Finio loan without affecting your credit score.

» COMPARE: Loans for people with bad credit

How to apply for a loan from Finio

You can check your eligibility for a loan from Finio before formally applying.

To do this, you will need to fill in an online application form with details such as your:

  • name
  • addresses from the last 12 months
  • contact details
  • income and expenditure

When you check your eligibility, Finio will conduct a soft credit check, which won’t affect your score. The lender will use the details you provide and the information from the credit check to give you a quote for a loan and allow you to see how likely it is that you would be approved.

If you want to proceed with a full application, Finio will need to perform a hard credit check to make sure everything is in order. This will be recorded on your credit history and could affect your score.

As part of the application process, Finio uses open banking, a secure system to view the transactions on your bank account. The lender uses this data to get an accurate snapshot of your financial situation and to help it decide whether to offer you a loan.

In some cases, Finio may ask you to provide supporting documents, such as a copy of your driving licence to verify your identity.

» COMPARE: Personal loan rates

How long does it take to get a Finio loan?

Once you have applied for a loan from Finio, you should receive an update on the status of your application within 24 hours.

If approved, Finio aims to pay the money into your account on the same day or the next working day.

Finio customer reviews

On Trustpilot, Finio has a rating of 4.9 stars from over 320 customer reviews.

This information is correct as of 3 October 2022.

Finio Loan FAQs

Did Finio replace Likely Loans?

Finio Loans is a brand that was launched by Oakbrook Finance to replace Likely Loans. Likely Loans is no longer offering new loans to customers.

Are there any early repayment fees?

Finio doesn’t charge any early repayment fees if you want to make an additional payment to help repay your loan. If you want to pay off the loan in full, Finio will charge 28 days’ interest.

About the author

Rhiannon Philps
Rhiannon is a financial writer for NerdWallet, with a particular interest in personal finance and insurance guides for consumers. Read more

*Eligibility Service:

This loans eligibility service is powered by Monevo. The data you supply is directly submitted to Monevo and is used to retrieve loan quotes from Monevo’s panel of lenders for Nerdwallet site users. By using their loans eligibility service you are agreeing to Monevo’s terms and conditions and privacy policy which can be found at Neither Monevo or Nerdwallet Ltd carry out credit repair services. is a registered Trading Name of Monevo Limited which is an Appointed Representative of Quint Group Limited, and is entered on the Financial Services Register under reference number: 723672.  Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450.  Monevo Limited is registered in England and Wales (Company number 06511345). Registered office: Glasshouse, Alderley Park, Nether Alderley, Cheshire,SK10 4ZE.  Licensed by the Information Commissioners Office, (Registration number Z1498441).