Evlo Loans Reviews 2026: Is Evlo Loans Legit & Worth It?

Need a loan but have bad credit? Evlo Loans might have caught your attention. This UK lender specializes in helping people who struggle to get approved elsewhere. But with interest rates that can reach over 250%, is Evlo Loans actually worth it?

In this honest Evlo Loans review, we’ll cover everything you need to know about Evlo Loans. You’ll learn how they work, what they cost, and what real customers are saying. By the end, you’ll know if Evlo Loans is the right choice for your situation.

What is Evlo Loans and Who Owns It?

Evlo Loans is a direct lender that provides personal loans to people with bad credit across the UK. They’re not a loan broker or comparison site. When you borrow from Evlo, you’re dealing directly with them throughout the entire process.

The company was established in 2006 and previously operated as “Everyday Loans” before rebranding to “Evlo” in 2025. Since 2006, Evlo has helped over 300,000 customers access credit when mainstream banks turned them down. The company has 65-70 branches across the UK.

As a regulated financial services company, Evlo is authorized and regulated by the Financial Conduct Authority (FCA). You can verify this on the FCA register using their firm reference number 724445. They’re also members of the Finance and Leasing Association (FLA), which shows their commitment to responsible lending practices.

The company has won multiple industry awards, including “Non-Mainstream Loan Provider of the Year” and “Best Customer Service” at the Moneyfacts Consumer Awards.

How Does Evlo Loans Work? (Application & Process)

Evlo uses a mixed approach that combines online convenience with face-to-face service. Here’s exactly how the process works.

Online Application

Visit the Evlo website and fill out their online form. You’ll provide basic information including your name, address, employment details, income, and loan amount needed. This takes just a few minutes.

Soft Credit Search

Evlo runs a soft credit search that doesn’t affect your credit score or appear on your credit file. This helps them see if they’re likely to approve you.

Conditional Decision

Within minutes, you’ll receive a conditional decision. If positive, Evlo will invite you to visit your nearest branch to complete your application.

Branch Visit Required

You must visit one of their branches across the UK. This face-to-face meeting typically lasts 45-60 minutes. The advisor will review your financial situation, explain loan terms, answer questions, and complete an affordability assessment.

Affordability Check

The branch conducts a thorough check using Open Banking or bank statements. They’ll perform a hard credit check at this stage, which appears on your credit file for 12 months.

Final Approval and Funding

If approved, you’ll sign your loan agreement. Money is transferred to your bank account within 24-48 hours, sometimes the same day.

Documents Required

• Valid photo ID (driving licence or passport)
• Proof of UK residency
• Proof of income (payslips or bank statements)
• National Insurance number
• UK bank account details
• Proof of address

Eligibility Requirements

• Be at least 18 years old
• Be a UK resident
• Earn at least £10,000 per year
• Be able to afford the monthly repayments

How Long Does Evlo Loans Take to Process and Pay Out?

The timeline depends on several factors, but here’s what to expect.

Online Application – 5-10 minutes to complete.

Conditional Decision – Typically within minutes of submitting your application.

Branch Appointment – Depends on availability. Some branches see you the same day, others schedule a few days later. The appointment lasts 45-60 minutes.

Final Approval – You’ll know immediately after the branch meeting if approved.

Funds in Your Account – Usually arrives within 24-48 hours after signing. Sometimes same-day if you complete your visit early.

Total Timeline – You could have money in 1-3 days if everything moves quickly, but allow up to a week if branches are busy.

Evlo Loans Interest Rates, APR, and Fees

This is where Evlo Loans becomes expensive. Interest rates are significantly higher than mainstream lenders.

Representative APR

99.9%. This means at least 51% of successful applicants receive this rate or lower.

APR Range

Interest rates range from 30.5% APR up to a maximum of 252.7% APR. Your actual rate depends on your credit history, income, loan amount, and affordability.

Representative Example

Borrow £3,000 over 24 months at 71.3% per year (fixed):

• Monthly payment: £237.75
• Total interest paid: £2,706
• Total amount repayable: £5,706
• Representative APR: 99.9%

This means you’d pay back nearly double what you borrowed.

Factors Affecting your Rate

• Credit score and credit history
• Income level and employment stability
• Loan amount and term chosen
• Debt-to-income ratio
• County Court Judgements (CCJs) or defaults

Fees

• No application fees
• No arrangement fees
• No monthly account fees
• No hidden charges

Early Repayment Charges

Early repayment charges apply:

• Loans 12 months or less: 28 days’ worth of interest
• Loans over 12 months: One month and 28 days’ worth of interest

Loan Amounts and Terms

• Borrow between £1,000 and £15,000
• Repayment terms from 18 to 60 months
• Fixed monthly payments

Is Evlo Loans Legit or a Scam?

Yes, Evlo Loans is completely legitimate and not a scam.

FCA Authorization

Fully authorized and regulated by the Financial Conduct Authority under firm reference number 454865.

Industry Membership

Member of the Finance and Leasing Association (FLA).

Established Track Record

Operating since 2006 with over 300,000 customers served.

Physical Presence

Operates 70+ physical branches across the UK. You can meet advisors face-to-face.

Industry Awards

Multiple Moneyfacts Consumer Awards including “Non-Mainstream Loan Provider of the Year” and “Best Customer Service.”

Transparent Terms

Clearly displays APR, representative examples, and terms on their website.

Warning About Scammers

Evlo warns about scammers impersonating them. Remember:

• Evlo will NEVER ask for upfront payments before approving a loan
• They will NEVER ask you to buy vouchers or gift cards
• They will NEVER pressure you to take a loan immediately
• They will NEVER ask for your online banking passwords

Complies with UK GDPR regulations and uses encryption to protect your data.

Evlo is legitimate, but high interest rates mean their loans aren’t suitable for everyone.

Evlo Loans Reviews and Complaints (Trustpilot, Reddit, Users)

Real customer feedback provides valuable insight into what you can expect.

Trustpilot Reviews

As of early 2026

• Overall score: 4.7 out of 5 stars
• Total reviews: Over 10,900
• Five-star reviews: 83%
• Rating: “Excellent”

Feefo Reviews

• Independent Service Rating: 4.9 out of 5 stars

Common Positive Feedback

• Friendly, non-judgmental staff
• Straightforward process with clear explanations
• Face-to-face service appreciated
• Quick conditional decisions
• Approval despite bad credit
• Helpful when struggling with payments

Common Complaints

• Very high interest rates
• Conditional approval online but rejected after branch visit
• Multiple phone calls during process
• APR higher than expected
• Branch visit inconvenience for some

Reddit and UK Money Forums

Mixed opinions with general themes:

• Fills a gap for those with bad credit
• Very expensive compared to alternatives
• Credit unions recommended as cheaper option
• Use only as last resort
• Customer service praised

Most reviews are positive, suggesting good customer service. Complaints often relate to high costs (which are transparent) or rejection after conditional approval. People who understand the costs upfront tend to have positive experiences.

Pros and Cons of Evlo Loans

Pros	Cons
Accepts applications from people with bad credit	Very high interest rates (99.9% representative APR)
Direct lender, not a broker	Branch visit required, not fully online
Soft credit check at application stage	Early repayment charges apply
No impact on credit score initially	Conditional approval does not guarantee final approval
Face-to-face service at 70+ UK branches	Maximum loan amount capped at £15,000
Quick conditional decisions	More expensive than credit unions
No application or arrangement fees	Minimum loan term of 18 months
Case-by-case affordability assessment	Hard credit check required for final approval
FCA regulated lender
Established since 2006
Award-winning customer service

People with bad credit rejected by mainstream lenders who need £1,000-£15,000, can afford high repayments, value face-to-face service, and have a branch nearby.

People with good or fair credit who can access cheaper rates elsewhere, those without a nearby branch, or anyone who hasn’t explored credit unions first.

Evlo Loans Customer Support, Login, and Opening Times

• Phone: 0330 3033 503
• Email: [email protected]
• MyEvlo Portal Support: [email protected]
• Local Branches: Use branch finder at www.evlo.co.uk
• Online Contact Form: Available on website

MyEvlo Customer Portal

Existing customers can:-

• View current loan balance
• See upcoming payment dates and amounts
• Check payment history
• Update personal contact details
• Access loan agreement documents

Business Hours

Vary by branch location. Typical hours: Monday to Friday, 9 AM to 5 PM. Some branches offer extended hours or Saturday appointments. Closed Sundays and UK bank holidays. Check specific branch hours using the branch finder. Available 24/7 online.

Should You Take a Loan from Evlo Loans?

Evlo Loans is legitimate and provides a valuable service for people with bad credit who cannot get approved elsewhere. However, very high interest rates mean you need to be absolutely certain before borrowing.

Who Should Consider Evlo Loans

• You’ve been rejected by multiple mainstream lenders
• You’ve tried credit unions without success
• You need money for something essential
• You can comfortably afford the high monthly repayments
• You understand and accept the total cost
• You value face-to-face service

Who Should not Consider Evlo Loans

• You haven’t tried cheaper alternatives first
• You have fair or good credit
• You can’t genuinely afford the payments
• You’re borrowing for non-essential purchases
• You could save up in a few months

Some of the Better Alternatives to Try

Credit Unions

Much lower rates (typically 12-42% APR). Find yours at www.findyourcreditunion.co.uk.

Community Development Finance Institutions (CDFIs)

Focus on financial inclusion with lower rates.

Guarantor Loans

If someone with good credit will guarantee your loan.

Secured Loans

If you own a home (but your home is at risk).

Budgeting Loans

If receiving certain benefits (0% interest).

Conclusion

Only borrow from Evlo if you’ve genuinely explored all other options. The interest rates are very high but transparent. If you understand the true cost, can definitely afford repayments, and need the money for something essential, Evlo can help when banks won’t. However, expensive loans should always be a last resort.