Meet KOHO: A LoanConnect Partner

At LoanConnect, we strive to help Canadians manage their money wisely so they can do more with it. With this goal in mind, we aim to offer our customers a full suite of financial services. KOHO, our newest alternative service partner, shares our goals and values of helping customers do more with their money; they have a mission we can relate to.

What Is KOHO?

KOHO is not a bank. They are on a mission to create a user-friendly banking alternative that makes it possible to save while you spend. KOHO provides Canadians with a one-stop-shop for managing their money. The KOHO card provides the benefits of a credit card, but the spending abilities of a debit card. It makes it impossible to spend beyond your means, as you can only spend what money you put onto it.

What Sets KOHO Apart?

When Canadians sign up for KOHO, they gain access to a host of tools designed to help them better manage their money and reach their financial goals. Whether you want to get out of debt, pay off high-interest credit cards or save for your dream vacation, this company offers tools to help you do it.

Credit-Building Program

So often we see customers struggling to get a loan because of their credit situation. But with KOHO, customers are able to build their credit score for just $7 a month – a small fee capable of big improvements. With every monthly payment, KOHO reports your positive payment history to a major credit bureau. By simply ensuring you have $7 in your account each month, your credit score can be improved within six months.

KOHO Save Program

You can opt into KOHO’s Save Program by setting up your paycheques to direct deposit into your account each month. With this service, you receive 1.2% annual interest on the money in your account. The interest is calculated daily, and you receive payouts monthly. Additionally, for every dollar you spend, you get a 0.5% cashback bonus.

Early Payroll Options

Sometimes things are tight and you need money before payday; but payday lenders often charge interest rates that just aren’t feasible. With KOHO you are able to access up to $100 of your paycheque before payday. Get your money up to three days early at no cost, or pay $5 to get it sooner, along with access to a financial coach for 15 days.

What Features Does the KOHO App Provide?

KOHO’s app is where it all happens. You get access to all of the company’s products right at your fingertips. When you sign up for a free account, you can do almost everything you would do with a bank, except drive through the teller window. It doesn’t offer loans or a credit card, but it does offer pre-paid Visa cards you can use anywhere Visa is accepted.

KOHO is a secure service, end-to-end, meeting our strict criteria for ensuring your data and money are safe. It uses a federally regulated financial institution to hold customer’s funds. The average Canadian spends $216 per year in bank service fees, but with KOHO there are no hidden fees or interest charges. Instead of costing you extra, KOHO is driven to help you better manage your money. The app makes it easy for you to stay on top of your budget and track your spending. It also offers spending insights and free financial coaching.

Why Does LoanConnect Partner With KOHO?

LoanConnect strives to make it easier for our customers to access the loans they need quickly. We work with partners who meet our standards for customer service, privacy and security. LoanConnect makes it a point to partner with lending institutions that provide options for people with a wide range of credit scores. We understand that anyone can run into financial troubles, making it more difficult to secure a loan. That’s why we work to provide our customers with resources that can help you get on your feet faster and approved for a loan quicker. KOHO is a company that offers its customers the tools to build their credit, save money and meet their financial goals. It’s our kind of company, and we’re proud to have it aboard as a partner.

Visit KOHO now to get started on improving your credit score for just $7/month.

Looking for a Loan Instead?

LoanConnect still offers personal loan options from within our lender network. If KOHO isn’t the right fit for you, you can use our no-obligation, application form to see what loan offers are available to you through our other partners. See your options now.


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