Neyber loans review July 2021

Get tailored loans based on your credit history, as well as investment accounts and salary access.

No reviews yet. Write a review

What is Neyber?

Neyber is a UK lender and financial services provider that offers personal loans, investment accounts and salary access.

If you need to refurbish your kitchen or buy a new car, you may be considering a personal loan. However, getting the great rates advertised by traditional lenders and big banks isn’t as easy as they make it sound, so it may be a good idea to take a look at employee loans instead.

Neyber offers employee loans that are very similar to personal loans, but since the repayments are taken directly from your salary every month, it says it’s able to offer more competitive rates than traditional lenders. If you’re one of the lucky employees whose company has jumped on the salary finance bandwagon and joined Neyber, it’s certainly worth having a look at what it has to offer.

Neyber becomes more competitive when your credit score isn’t great (maybe simply because you don’t have much of a credit history) and you’re having trouble securing a good deal on a traditional loan.

Neyber also offers a service that allows you to automatically save money by setting aside part of your salary before it even reaches your account. However, unlike some of its competitors, it doesn’t do salary advances (which allow you to withdraw part of your salary before the end of the month). You can’t borrow small amounts either, so it’s more an alternative to personal loans than to payday loans.

How does a Neyber loan work?

On one hand, borrowing money with Neyber is similar to borrowing money with a traditional lender. You apply, go through a credit check, are offered a certain interest rate and pay the loan back in fixed monthly instalments. However, since the repayments are taken directly from your salary, with Neyber you can get a decent rate even if your credit score is less than perfect.

The Neyber loan

This is an unsecured personal loan that lets you borrow between £1,000 and £25,000 for up to 5 years, with 4 rate tiers that depend on your credit score. If your credit score is pretty much perfect, the rate won’t be much cheaper than what you’d get with your bank.

However, if you don’t have much of a credit history or have missed some payments in the past, it can still be a competitive option.

Neyber loans and credit scores

When applying for a Neyber loan, you’ll be offered a fixed interest rate based on your current credit rating. This means you can get a clearer idea of the rate you’re likely to receive before you begin your application.

You can compare the different rates and find out what determines your credit rating below:

Excellent – 3.9% APR

  • Long credit history
  • No missed repayments
  • Never had a CCJ or defaulted on a debt

Great – 9.9% APR

  • Long credit history
  • You have only ever missed 1 or 2 repayments
  • Never had a CCJ or defaulted on a debt

Good – 13.9% APR

  • Shorter credit history
  • You may have missed a few repayments
  • Never had a CCJ or defaulted on a debt

OK – 19.9% APR

  • Shorter credit history
  • You may have fallen behind on previous repayments
  • May have had a CCJ or defaulted

Can I get a Neyber loan with bad credit?

Yes, Neyber offers loans to customers with varying credit scores, which means you could still be eligible for a loan even if you have poor credit. However, you’re likely to receive a much higher interest rate than someone with excellent credit history.

Are there any fees on a Neyber loan?

There are no set-up or application fees when you take out a Neyber loan, and you won’t be charged an early repayment fee if you pay off your loan before the end of your loan term. However, if you leave your job, your repayments will be automatically moved over to direct debit, and you may be charged a £12 administration fee.

Can I repay my Neyber loan early?

Yes, you can repay your Neyber loan early, and will not be charged any additional fees for doing so.

How does investing with Neyber work?

Neyber has partnered with Smarterly, a company that specialises in workplace ISAs, to allow you to automatically put aside part of your salary every month. Since the money doesn’t even reach your current account, you’re not tempted to spend it.

You can invest from as little as £10 per month, and also transfer an existing ISA. You can also track your investments and receive free monthly updates. There’s a 0.40% annual platform fee and other fees may be charged by the fund managers.

Neyber offers the following investing accounts:

  • Lifetime ISA
  • Stocks and Shares ISA
  • General investment account
  • Junior ISA
  • Cash ISA

Don’t forget that the value of investments can go down as well as up so you may not get back the money you invest.

Neyber app and Salary Access

Neyber also offers a salary access product that lets you instantly access a percentage of your salary when you need it, without the need for expensive overdrafts or credit accounts.

Instead of having to wait for payday, you can spend the money you’ve already earned at any time. You’ll be charged a flat £1.50 transaction fee every time you access your salary early.

Using the Neyber app, you can track how much you have earned in real time, and how much you can withdraw, and also get access to a range of tools, articles and savings tips to help you better manage your money.

Pros and cons of Neyber


  • Normally cheaper than traditional loans
  • You could be eligible even if your credit score isn’t perfect
  • No early repayment fees if you want to settle early
  • A good range of ISA accounts to save money automatically and then invest it
  • Lets you access your salary in real time
  • Money management app that can help improve your finances


  • It doesn’t do salary advances and can’t help much if you only need a little extra money to get you to the end of the month
  • It doesn’t do regular savings accounts (you can only invest your savings)

Neyber customer reviews

Neyber has received generally positive reviews from customers, according to review platform TrustPilot. It currently has a “great” TrustPilot rating of 4 out of 5, based on more than 600 reviews (updated 18 February 2021).

Some customers praised its straightforward loan application process and service, but some cited issues with unscheduled repayments being taken from their account.

Frequently asked questions

Warning: the value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results. A stocks and shares ISA may not be right for everyone and tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please seek independent financial advice.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

  • Ethereum (ETH) price prediction 2021

    What affects the value of Ethereum (ETH) and how might the price of ETH fluctuate in the year ahead? Find out in this comprehensive guide.

  • Emma mattress review

    Find out more about the budget-friendly Emma mattress with its 200-day free trial, including comfort, composition, shipping, returns, FAQs and more.

  • Best business bank accounts for 2021

    Want to avoid fees or integrate with your bookkeeping software? Here’s our pick of the top business current accounts.

  • Best business bank accounts for 2021

    Want to avoid fees or integrate with your bookkeeping software? Here’s our pick of the top business current accounts.

  • Best business bank accounts for 2021

    Want to avoid fees or integrate with your bookkeeping software? Here’s our pick of the top business current accounts.

  • Klarna vs Laybuy: Compare popular buy now pay later platforms

    How do Klarna and Laybuy compare? We put two of the UK’s most popular buy now, pay later services head to head to see how they match up and which might be the right choice for you.

  • What is Compound Finance?

    We explore how to use Compound Finance for lending and borrowing.

  • NAGA review

    Find out what we thought of NAGA, a trading platform that lets you t trade more than 500 financial instruments and copy other people’s trades.

  • What is a good credit score?

    Find out the difference between a credit score and a credit report, plus the factors that can push your score up and down.

  • Charles Stanley Direct review

    We reviewed Charles Stanley Direct, Charles Stanley’s online investment platform. Find out how it works and what we think in our review.

Go to site