Frequently asked questions
What is Kiwi?
We are a digital platform that allows you to access personal loans in minutes through our mobile app.
What is our mission at Kiwi?
Our mission is to provide our users with fair access to capital, help them build credit history, and improve their financial education.
In what states or territories is Kiwi available?
Our loans will only be available in Puerto Rico and Utah. We invite you to follow us our social media accounts where we will notify you as soon as we are available in other states.
How do I download the Kiwi App?
Our mobile application will be available under the name "Kiwi Credit" for free download in the Apple Store and Google Play Store.
Will my information be safe with Kiwi?
About Kiwi Loans
What fees does Kiwi charge?
APR from 12.95% to 35.95%. The rate and amount approved depend on the risk profile of each user. Also, by showing good loan repayment behavior, the following loan we offer our clients a higher amount and at a lower rate.
Is it true that Kiwi has no additional fees?
Our loans are free of any type of fee. Zero origination fees, prepayment fees, insurance fees, or late payments fees. You will only pay the loan amount and interests.
How much is the minimum credit score that I must have to apply for a Kiwi Loan?
At Kiwi we do not require you to have a credit score. We use modern technology to determine the ability to repay of each user, mainly through the analysis of your bank transactions data. That means that if you have little to no credit score, you can still apply to our loans. Also, we report all your payments to the credit bureaus, helping you build a credit history.
What are the benefits of a Kiwi Loan?
Visit our main page for details about our services. In summary, our loans are:
- Transparent. Simple, easy to understand, and with absolutely no hidden anything.
- No Fees. Free of any type of fees.
- Flexible. We do not require a collateral, credit score, and provide you with convenient repayment terms
- Fast. You can complete the entire application and loan disbursement process through our app in a matter of minutes.
How much is the maximum amount I can borrow?
We offer loans from $ 150 to $ 5,000. The amount approved for your loan will depend on our assessment of your ability to pay and credit risk that we determine. Also, by showing good loan repayment behavior, the following loan we offer you can be of a higher amount and at a lower rate.
How long does the approval and disbursement process take for a Kiwi Loan?
Assuming you meet all the requirements to access our services, the process to complete the registration, evaluation, and loan disbursement takes less than 5 minutes. However, if there is an error in the information provided, or if we need any additional information from you, then the approval process could be delayed.
Building Credit History
What credit bureau does Kiwi report my loan payments to?
At the moment we report to Equifax.
How does Kiwi help me build my credit score?
By making your loan payments on time, we report your activity to the credit bureaus, helping you build your credit history. It is important to bear in mind that we report all the repayment information to the credit bureaus; that means that, if you stop paying or do not make your payments on time, your credit score may be affected.
Why was my application rejected?
Your application may have been rejected for various reasons, including that: (1) we were unable to verify your identity, or (2) we were unable to assess creditworthiness from your bank data for our credit analysis purposes.
Who do I contact to discuss the terms of my application?
If you would like to further discuss your application, contract, or other topics related to our services, please contact email@example.com to coordinate a call.
Do I have to create an account to request a loan at Kiwi?
Yes, an account must be created through our mobile app. For technical support and instructions, please contact firstname.lastname@example.org
What are the requirements to apply for a Kiwi Loan?
We accept applications from consumers of age 21 and over (in Puerto Rico), with a valid bank account, a Social Security number, and an valid government issued identification.
What factors do you consider when making loans?
After verifying your identity, we analyze your bank account transactions to determine your ability to repay our loan. On occasions where we cannot determine the solvency of your bank details, we may verify your credit report. However, your credit score is not a major factor in our risk analysis.
I was approved for a loan amount, but I need a larger amount. Is it possible to increase the approved amount?
On your first Kiwi Loan, it is not possible to increase the approved limit. However, when we have a little more confidence regarding your repayment behavior, you can email us your concerns at email@example.com to discuss any solution we may be able to provide you.
Do I need to have a bank account to apply for a Kiwi Loan?
Yes, we require a bank checking account to perform our credit analysis and to digitally disburse the loan proceeds to your account.
For the assessment process, does Kiwi perform an inquiry on my credit report?
We may resort to analyzing your credit report if we are unable to determine your repayment capacity from the bank account provided by you.
Will applying for a loan affect my credit score?
Your credit score may be impacted by completing the loan application process. This is because, when we cannot determine the ability to repay from a customer's bank account, we will have to make a hard pull to their credit report.
Can I have a co-debtor or guarantor for my loan?
No, at the moment we only accept individual applications.
How can I make my loan payments?
Payments will be automatically billed to your checking account or debit card every month through AutoPay. However, you can make payments ahead of time manually through our mobile app or by calling us on the phone.
What happens if I don't make my loan payments on time or need to change the payment date?
If for any personal reason you cannot make your loan payments on time, please contact us at firstname.lastname@example.org to better understand your situation and provide you with any type of flexibility. It is important to note that we report all your behavior and payment history to the credit bureaus, and failure to make your loan payments on time may impact your credit score.
Where can I see my monthly bills and loan contract?
In our app you can access your loan contract and transaction history. This information is also sent to the email provided by you in the application process.