What loans does Fintern offer?
Now rebranded as Abound, Fintern claims to harness the power of technology to offer more competitive lending solutions to potential customers. Here’s what you need to know
Who is Fintern, now lending as Abound?
Fintern Ltd was established in February 2020 in the UK and rebranded to Abound in January 2023.
It offers personal loans to assist customers in achieving their financial goals, such as purchasing a car, home improvements, or funding special events.
Launched by a team with extensive experience in banking and digital lending, it claims to enhance customer experience by integrating digital technology and Open Banking, putting less emphasis on credit scores.
What types of loans does Fintern offer?
Fintern offers unsecured personal loans through its consumer lending arm, Abound.
These loans can be used to meet various financial needs, including debt consolidation, car purchases, home improvements, holidays, and weddings.
Using Open Banking data, Abound assesses applicants' overall financial situations, considering income and spending patterns beyond traditional credit scores.
You can borrow up to £10,000 with Abound and pay it back over a term of five years.
It can take up to two days to receive approval for a loan with Abound. If the lending is agreed,
Abound is a lender. This means that it provides loans directly to customers and does not, for example, broker loans provided by third parties.
How much can I borrow with Abound?
How quickly will I receive the money?
Is Abound a broker or lender?
What is the eligibility criteria?
You can apply for a loan with Abound as long as you:
Are at least 18 years old
Have the right to live in the UK
Have your main bank account in the UK
Have no unresolved defaults or CCJs
Are there any fees or charges?
You should be aware of the following potential charges and fees when applying for a personal loan with Abound.
A £30 charge is applicable if you request to reduce your monthly repayments
A £12 late payment fee is charged. If your scheduled repayment fails you'll receive an SMS to let you know. If you make your payment within seven days the late fee will automatically be refunded
Your loan includes a loan fee, also known as an arrangement fee. The exact amount of this fee can vary depending on the specifics of your loan agreement. It’s added to the loan balance and paid through your regular monthly repayments and will accrue interest.
Can you change your repayment date with Abound?
Yes, you can apply to have your regular payment moved to a different day of the month to fit in with our own finances. For example, the day after your salary lands in your account. Any change is subject to the discretion of Abound.
Why compare loans with MoneySuperMarket?
At MoneySuperMarket, we help you compare a comprehensive selection of loan products from leading UK lenders. Our eligibility checker analyses your credit profile to indicate which loans you're likely to qualify for, without affecting your credit score.
We present key loan information upfront, including interest rates and terms, and enable sorting by total cost and approval chances, helping you find the most appropriate loan for your needs.
