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Tandem (formerly Oplo)

Oplo loans calculator and review

If you've been declined elsewhere, Oplo (soon to be Tandem) may still consider you for an unsecured loan if you're a homeowner and can afford the repayments.

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Chris Lilly

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Important: Oplo is no longer accepting any new applications. This page has been preserved for historical purposes, and you can compare a range of personal loans here.

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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

What is Oplo Loans?

Oplo (formerly 1st Stop Personal Loans) is the personal lending arm of the Oplo Group, which also offers home loans and car finance. It offers unsecured personal loans to homeowners, which can be used to fund things like home improvements, a car or to pay off existing debts.

Oplo merging with Tandem Bank

Digital challenger bank Tandem has acquired Oplo and will take over their 171,000 customer base. The deal was finalised at the end of January 2022. Oplo will eventually rebrand to Tandem but everything else will remain the same, their powerful purple personality isn’t going anywhere!

How do Oplo loans work?

You can apply online for a fixed-rate personal loan from Oplo and get a decision in principle in minutes, without affecting your credit score. Our Oplo loan calculator will help you work out how much you could pay back on an unsecured Oplo loan each month and overall.

If you’re approved for a personal loan with Oplo, it will act as a direct lender or as a broker for one of its panel of lenders.

Key features of Oplo personal loans

Interest rates are fixed for the duration of your repayment period; however, the rate you’re offered will depend on factors such as the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “representative APR”.

What is APR?

The annual percentage rate is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement, so it can be a handy tool for comparison.

Lenders are only obliged to award their advertised representative APR to 51% of people who take out the loan – the other 49% could pay more. That’s why it’s often referred to as representative.

Oplo customer reviews

Oplo has received mixed reviews from customers, according to review platforms like Trustpilot and Feefo. It currently has a Trustpilot rating of 3.1 out of 5, based on over 150 reviews, which is considered an “average” rating overall (updated June 2022).

However, Oplo has more positive reviews from customers on Feefo, with an average rating of 4.9 out of 5 based on over 1,300 reviews (updated June 2022). Customers cited the good customer service and helpful staff as positives, but also noted the high interest rates offered on Oplo loans.

Am I eligible for an Oplo personal loan?

You should only apply for an Oplo personal loan if you’re certain you can meet the repayment terms. You must also meet the following criteria:

  • Be aged 21 years or over
  • Be a permanent UK resident
  • Be in permanent paid employment
  • Earn a gross annual income greater than £15,000 per annum
  • Not be bankrupt, under a current IVA or on a debt management arrangement

What credit score do I need to get a Tandem (formerly Oplo) loan?

Tandem (formerly Oplo) typically offers loans to applicants with fair or poor credit ratings (if you have good credit, you may be able to get better rates elsewhere). It's important to note that your credit record is just one factor that Tandem (formerly Oplo) will consider, however.

A "Fair" or "Poor" (or "Very poor") credit rating means a score below 881 if you're referring to Experian's scale, 531 if you're referring to Equifax's scale and 604 if you're referring to TransUnion's scale.

Do Tandem (formerly Oplo) loans give an instant decision?

Yes, Tandem (formerly Oplo) offers instant decisions online in most cases (occasionally more information may be required). First, you can use the soft search eligibility checker to find out your chances of getting approved (this won't affect your credit score). Then, if you opt to go ahead and apply, you'll get an instant answer.

Can I get a second Tandem (formerly Oplo) loan?

Tandem (formerly Oplo) doesn't allow you to run multiple loans at the same time. However, Tandem (formerly Oplo) does allow you to effectively "top up" your loan, by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that overpayments may be subject to up to two month's of interest beyond the date on which you overpay. Don't forget, each application for credit will be considered on its own merit.

Can I make overpayments on a Tandem (formerly Oplo) loan?

Yes, you can make overpayments without incurring any penalty fee. However Tandem (formerly Oplo) can continue to charge interest for up to two months on any sums overpaid, so although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

How can I apply?

Complete the simple application form online with details of your annual income, monthly outgoings, employment and address history for the last five years. You will receive a decision in principle within minutes, and your loan agreement will be emailed to you to sign and return.

An adviser may call you if additional information is required to determine your ability to afford the repayments. You may be asked to verify your employment and bank details. Once this has been completed, if you’re approved, the funds will be transferred to your bank account.

Oplo Loans for bad credit

While you may be eligible for a Oplo personal loan if you have bad credit, you will need to pass a series of credit checks in order to receive a loan. Oplo will conduct a soft credit search when you first apply for a personal loan and then conduct a hard credit search once your loan has been approved in principle.

Oplo Loans customer reviews

Oplo has received mostly positive reviews from customers, according to sites like Trustpilot and Feefo. Oplo has a rating of 4.9 out of 5 on Feefo, from over 880 reviews, and a Trustpilot rating of 4.4 out of 5, based on more than 120 reviews (updated 8 April 2021).

Frequently asked questions

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