Fintern Loan: 7 Things To Know Before Taking A Loan From Fintern

When it comes to consumer lending, Fintern has been helping many UK residents to massively access low-cost, fair and flexible loans. 

They are determined to offer financial peace of mind to the UK residents by giving instant loans to those who want to meet their urgent financial needs. The amazing thing is that they offer collateral free loans, hence the application process is always hassle-free.

Although Fintern loan platform offer unsecured loans, they also have terms and conditions that an applicant must meet before accessing the loan. In addition to their eligibility criteria, they also have loan terms and interest rate which an applicant must abide by.

Meanwhile, don’t forget that Abound is a trading name of Fintern LTD. Some don’t be confused if we use the words interchangeably in the course of our discussion.

Without further ado, let’s get started.

Is Fintern Legit? 

YES. Fintern is legit.

Fintern has been offering lending services to those resident in the United Kingdom. Thye are registered and their services are regulated by the Financial Conduct Authority(FCA). For clarity purposes, their firm reference number is 929244

1. Eligibility Criteria For Fintern Loan

To qualify for Fintern loan, applicants are expected to meet the following requirements, they include:

• The loan applicant must be resident in the UK.
• Must have an active bank account.
• At least 18 years old.
• You must have a stable and steady income source.

2. Fintern Loanable Amount

Fintern loanable amount varies because they’re gonna access the applicant’s financial strength via transaction data to know the exact loan amount they can repay with ease before disbursing it to the applicant.

However, the Fintern loanable amount ranges from  £1,000 – £10,000.  The better your transaction data the higher the loan amount and vice-versa.

3. Fintern Loan Interest Rate

The Annual Percentage Rate(APR) for Fintern loan ranges from 24.8% – 25.8%. 

The longer the loan term chosen the higher the interest rate and vice versa.

4. Fintern Loan Term

The Fintern loan tenure is not fixed, it varies depending on the loan amount chosen.

The maximum loan terms for loans below £5,000 is three years.

The maximum loan terms for loans above £5,000 is five years

5. Fintern Loan Application

Applying for Fintern loan is pretty easy, for the steps below to apply:

• Download & install the Fintern app from Apple Store or Google Play Store for iOS and Android users.
• Register with the required details to get started.
• Provide your financial details for review.
• From your transaction data, you’re going to receive a loan amount.
• According to your financial strength, choose the loan term that is suitable for you and that’s all.

6. Fintern Customer care

For assistance or inquiry, you can reach out to the Fintern customer unit via their handles below;

Call: (+44) 020 3443 8881

Whatsapp: contact@fintern.ai

7. Fintern Loan Review

Our check on different review platforms shows that users have diverse views about the financial services offered by Fintern platform. 

Some of the users eulogized the excellent financial services offered by Fintern platform while others frowned at their loan approval process noting that their pre-approval process is meaningless.

From Trustpilot, Fernando Camargo has this to say about the app: ‘’Positively surprised by the quality of the service, quick customer service response and sounds very professional. As a financial professional myself I am used to deal with Loan companies and they are horrible, what is not the case for Abound, but let’s make it clear, I am very with their service SO FAR! Hopefully it will remain like that’’.

Also from Trustpilot, J D also shared his experience about the platform: ‘’A right terrible experience. Pre-approval is meaningless, since they make arbitrary decisions. The application form does not contain the right questions either. If the decision process is independent and unrelated, why does it come up as “pre-approved” in leading (and reputable) comparison sites ? Quite misleading in its adverts and on its websites. “Alternative way to look at finance” indeed – will suggest everyone to stick to legacy banks, thank you very much’’.

Borrow responsibly and spend wisely, cheers!