Fiona Review: Is It Legit Or A Scam? Here’s What We Know

Reaching your financial goals, such as consolidating debt or making a large purchase, can be achieved through various methods. Your credit score and other personal financial records will determine the loan that is best for you. It is important to research and compare interest rates and terms for the loan, savings account, credit card, or student loan refinance you require.

Fiona is at your service to offer personalized loan product advice. We have crafted an exhaustive analysis for you to evaluate if this is the best option for you when seeking a loan product, so you can make a knowledgeable choice.

Fiona Fast Facts

Are you looking for a loan or savings account but don’t know what to do? With Fiona, you can easily select a product that fits all your requirements. Here are some fast facts:

Are you unsure of what to do when it comes to applying for a loan or savings account? You can take a few basic questions to quickly and easily find the right product for you. Here are some important details:

• Fiona is an online platform that provides borrowers with access to a network of lenders.
• It is possible to obtain personal loans between $1,000 and $250,000.
• They provide convenient payment plans ranging from 6 to 144 months.
• In order to be eligible for a personal loan, one must possess a credit score of 600.
• APRs start from 5.99%.
• Fiona offers the ability to open savings accounts, get credit cards, and refinance student loans.

What is Fiona?

Fiona is an organization that provides financial services and links you to current offers from different loan providers, making it easy to compare aspects such as interest rates and repayment terms without having to search through multiple websites.

Since it was founded in 2015, the New York City-based Fiona has been supported by Even Financial, the leading search engine and online marketplace for financial services. Despite its recent origin, it allowed customers to acquire more than $600 million in personal loans.

How does Fiona work?

Fiona is unique compared to others as the business does not give out loans by itself, but instead collaborates with different loan suppliers and financial service firms to give you the optimal loans and competitive rates of interest. The entire process is tailored to your personal circumstance, so you can evaluate the best alternatives and contrast personal loans without a difficult credit inspection.

Fiona provides a platform for people to examine the interest rates and conditions of personal loans that can be used for consolidating debt, buying a big item, home improvements, or school fees. Unfortunately, it is not available for new business ventures or tax payments, and those interested must be over the age of 18 and an American citizen to be eligible.

The company can give you a general idea of the loan terms, repayment options, and loan amounts, that most major lenders may offer based on your credit score and other criteria. Here is a summary of what you can expect:

Loan amount	$1,000 to $250,000
Loan term	6 to 144 months
APR	From 5.99% (as of Feb. 28, 2023)
Minimum credit score	600+ FICO score
Origination fees	Varies by lender

Remember that Fiona is not the loan provider, so the process of applying for a loan may vary depending on which partner lender offers you the best loan. When you locate the ideal loan, you will be redirected to the lender’s website to locate personal loans and finish the application process.

What does Fiona require to complete the application?

The details you are expected to provide may vary based on the individual lender used, but here is the typical personal data that you will be asked to provide:

• Important personal information like your name, date of birth, Social Security number, home address, and email address.
• Work background, contact details for current job, and telephone number
• Annual income 
• Recurring expenses such as your housing costs

Once you submit your application, you may be subjected to a challenging credit assessment that could cause a slight decrease in your credit rating. Nevertheless, this drop is typically only temporary.

What other services does Fiona provide?

Savings accounts

Fiona’s service provides a simplified way to view the highest APYs for savings accounts and associated information on fees and access. Depending on the financial institution, APYs may increase to as much as 3.40%, which is far more than the regular 0.35% annual interest rate across the country, as of February 28, 2023.

This is an overview of the disparity in the total interest earned over a certain period of time between a savings account with an Annual Percentage Yield (APY) of 3.40% and one with the national average APY. For the examples provided, it is assumed that the interest is calculated annually.

	Traditional Savings Account  0.35% (as of Feb. 28, 2023) APY	Savings Account with 3.40% (as of Feb. 28, 2023) APY
Starting balance	$5,000	$5,000
After one year	$5,017.50	$5,170
After three years	$5,052.68	$5,527.54
After 10 years	$5,177.78	$6,985.14

It is clear that the higher the annual percentage yield (APY) of your savings account, the bigger your total gain will be in the long run. If you have a savings account with an APY of 0.35%, you will accrue less interest over a period of three years than you would with an APY of 3.40%.

Credit cards

Fiona makes it easy to explore and compare credit cards that you’re likely to be approved for. On the website, you can browse through the best cashback credit cards, the personalized credit card offers, best no annual fee cards, and even secured cards for those with lower credit scores. All you have to do is answer some simple questions, and Fiona will give you a tailored offer that is likely to be beneficial for your finances.

If you opt to acquire a credit card from an associate, you will likely have to provide the card provider with some personal information such as your full name, residential address, email address and yearly income. Generally, they will also conduct a hard credit evaluation to figure out if you are qualified for a new card.

Student loan refinancing

Fiona allows you to quickly find the best student loan refinancing options for your credit score and region. Simply enter the amount you owe and Fiona will compare lenders, giving you an estimate of the monthly payment, the length of the loan and the interest rate for each offer, enabling you to choose the most appropriate option. The partner lenders offer both fixed and variable APR refinance loans and the rate and terms each loan offer will be determined by your credit score and other factors.

How can Fiona save money and time?

Without the help of Fiona, borrowers would need to spend a great deal of energy researching loan offers from different loan providers. Keeping track of all this information can be challenging and may lead people to make a choice of loan options that is not the best for them.

Fiona, a loan comparison website, makes the borrowing process easier by having all the details regarding various loans in one location. Borrowers can quickly compare various lenders, find personal loans and discover the most suitable rate for their particular situation. Additionally, they can filter their choices based on creditworthiness and the amount they are asking to borrow.

Fiona refrains from overwhelming you with unnecessary details, enabling you to grasp the key points. This is a powerful tool that can help you save time and money.

Fiona’s customer ratings

The majority of customers who have utilized Fiona’s services are satisfied with the outcome. The organization has earned a 4.2/5 star score from Trustpilot, which was given based on its ratings in various aspects such as “Flexibility” and “Discounts and Fees” (4.0/5), plus “Interest Rates” and “Customer Service and Reputation” (4.5/5). This means when searching for a loan, Fiona offers some of the best rates.

Users of Fiona generally praised its user-friendly interface and its ability to provide good deals at a fast rate. Additionally, they commented that the loan conditions were explicit and the customer support was pleasant. Though, some customers voiced displeasure with the interest rates and other aspects of the personal loan process.

FAQs

Is Fiona a legit company?

Fiona has obtained a noteworthy 4.5/5 star rating from Trustpilot for its Customer Service and Reputation, and since October 2019, the Consumer Financial Protection Bureau (CFPB) has not received any complaints or issues.

Does Fiona negatively impact my credit score?

Fiona loans won’t hurt your credit score since they don’t actually lend money and only perform a soft inquiry. However, when you select a loan product, the lender will do a hard inquiry which can lead to a short-term drop in your credit score – this doesn’t change whether you go through Fiona or the lender directly.

What is the minimum credit score Fiona requires?

Fiona does not have a concrete credit score requirement; however, there are lending options for those with a variety of credit scores. Using Fiona’s search engine, you can enter your credit score range, which includes options from “Excellent credit” to “Poor credit,” and she will show you a few points the loans you could potentially qualify for.

Is Fiona a lender?

Fiona is not a itself, but rather an internet-based platform for finding and contrasting different financing services from a variety of lending partners. It does not provide loans itself, but serves as a connection between borrowers and multiple lenders.

Is Fiona secure?

Fiona’s website advertises that it utilizes 256-bit encryption, a much higher standard of safety than many other loan providers, to secure clients’ information.

Conclusion on Fiona

If you are looking to borrow money or need to put away money for potential issues, Fiona can help you locate offers for personal loans and determine the most suitable choice for you. It will save you both time and money by providing you with specific advice and allowing you to compare the rates and terms between different lenders for debt consolidation. If you are unsure of how to begin the process of obtaining a personal loan, Fiona can walk you through it. It is a great way to start looking for a financial product that fits your needs.

If you have collaborated with Fiona in the past, please share your experience by submitting a review and rating in the comments section.

Thank you for reading!