I applied for a Fig loan and got redirected to Kizzo. What happened?

Fig and Kizzo are loan products from the same lender, but they have different underwriting criteria. Kizzo is designed to offer an alternative loan option for people who do not meet the credit score and financial requirements to qualify for a Fig loan. So if you've been redirected to Kizzo, you may be eligible for a loan from Kizzo.

What happens if my Kizzo loan application is declined?

If your application is not approved, it means you're not eligible for a Kizzo loan. However, this won't affect your credit score, as Kizzo does not carry out a hard credit check when assessing your initial application. You may also have the option to re-apply with Kizzo after 32 days if you believe a change in your circumstances may now make you eligible for a loan.

Can I pay my Kizzo loan off early?

Yes, you can pay your loan off early. Kizzo offers open loans, so you can make extra payments or pay your total loan balance off at any time. There are no fees or prepayment penalties if you pay your loan back ahead of schedule.

What is the minimum amount I can borrow?

Kizzo's minimum loan amount is $2,000.

Does Kizzo charge any fees?

You will pay interest on the money you borrow from Kizzo, as loans have a fixed APR of 31.99%. Kizzo does not charge any loan origination or admin fees, but an NSF fee of $45 applies if you are unable to make a payment due to insufficient funds in your account. Late payment fees also apply, with the fee amount specified in your loan agreement.

Sarah Megginson, Senior editor at Finder

Sarah Megginson

Senior editor

A finance and property journalist for more than 15 years, Sarah is the senior editor for money at Finder. She was previously the managing editor of Your Investment Property magazine, Australian Broker magazine, and Your Mortgage, a home loan comparison site. She has written for The Sydney Morning Herald, Canstar, Bupa, Mamamia, Kidspot, Jetstar, Tourism Australia, and she has ghostwritten or edited over 20 books. Sarah also has a Bachelor of Arts in Communication from Griffith University. Sarah is passionate about showing everyone how to make their money work harder.