Kroo review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Kroo suits people who want a free easy-access account with a variable rate and no monthly charge, plus a same-day personal loan with free early repayment. The rate of 2.65% is well under the site median of 3%, so this is a fair everyday account rather than a top paying one.
Key facts
- Best for
- A free app-only easy-access account in the UK with an optional personal loan.
- Headline rate
- 2.65%↗
- Rate type
- Variable↗
- Term
- 12 to 60 months↗
- Minimum deposit
- £0↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Interest calculated daily on the cleared balance and credited monthly; account operated in-app 24/7, no notice period, close at any time↗
- Monthly fee
- £0↗
- Account kind
- Easy access↗
- Legal entity
- Kroo Bank Ltd↗
- Headquarters
- United Kingdom↗
- Founded
- 2016↗
- Support channels
- Chat, Email, Help-centre, Phone↗
- Pricing model
- No monthly fee
- Official website
- kroo.com
Loans
- APR
- 14.9%↗
- Loan amount
- £1,000 to £25,000↗
- Arrangement fee
- 0↗
- Credit check
- Soft prequal↗
- Funding time
- Same day - usually immediate, up to two hours by Faster Payments↗
- Representative example
- £5,000 personal loan over 3.5 years at 14.9% APR representative (fixed), 42 monthly repayments of £151.19, total amount repayable £6,349.98↗
- Lender type
- Direct lender↗
- Free early repayment
- Yes↗
- Loan types
- Personal, Debt-consolidation↗
- Use cases
- Home-improvement↗
- Features
- Travel
Debit cards
Facts checked September 26, 2026, 8 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- No monthly fee on the current account: £0
- No currency conversion fee on the visa debit card: 0%
- Interest is calculated daily and credited monthly, and the account closes at any time with no notice period
- Free early repayment on personal loans of £1,000 to £25,000
Cons
- The headline rate of 2.65% is below the site median of 3%
- Loan APR of 14.9% is higher than the site median of 15.5%
- Interest is calculated daily on the cleared balance but credited monthly, so the return lands in a single payment
Who it suits
- People who want an easy-access account with a variable rate and no monthly fee
- Borrowers for home improvement who want funds the same day
- People who spend abroad on a Visa debit card and want no conversion fee
Who should look elsewhere
- Anyone chasing the strongest easy-access rate, since Wise pays 3.29% and bunq pays 3.01% against Kroo's 2.65%
- Borrowers looking for cheaper credit, since the site median sits at 15.5%, below Kroo's 14.9%
- Savers who want a set term, as the account kind here is easy access with a variable rate
How Kroo compares
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Where Kroo is available
- Available
- Guernsey, Isle of Man, United Kingdom
- Licence in United Kingdom
- Financial Conduct Authority (953772), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does Kroo pay on its easy-access account?+
Kroo pays a variable rate of 2.65% on an easy-access account. That sits below the site median of 3%, and the account ranks 282 of 488 on headline rate. The rate type is variable, so the figure can move.
Is there a fee to keep a Kroo current account?+
No. The monthly fee is £0 and the account model is no monthly fee. The minimum deposit is also £0, so you can open it and hold a small balance without any ongoing charge.
How much is protected if the bank fails?+
Deposits are covered by the FSCS up to GBP 85,000 protection scheme. The account is operated by Kroo Bank Ltd, which is authorised and regulated by the Financial Conduct Authority in the UK.
Does Kroo charge for spending abroad?+
The currency conversion fee is 0%, and the card runs on the visa network as a debit card. Travel spending is a listed feature, which suits anyone holding several currencies in one account.
What can I borrow and how fast is the money?+
Kroo lends directly as a direct lender, covering personal and debt consolidation loans. Funding is the same day, usually immediate, by Faster Payments, with a credit check of soft prequal before a full application. Home improvement is the listed use case.
What does a Kroo personal loan cost?+
The representative APR is 14.9% and the arrangement fee is 0, with loan amounts of £1,000 to £25,000 and terms of 12 to 60 months. Early repayment is free, so you can clear the balance early without a charge.
Sources
- help.kroo.com/hc/en-gb/articles/17473785559313-How-long-d... checked September 26, 2026
Backs: Funding time
“the payment is made directly into your Kroo Current Account and should become available immediately ... whilst usually available immediately, it can take up to two hours”
- help.kroo.com/hc/en-gb/articles/17473866157457-Are-there-... checked September 26, 2026
Backs: Arrangement fee
“We don't charge any fees for having a loan with us. All you will pay is the interest on the principal amount”
- kroo.com/about-us checked September 26, 2026
Backs: Founded
“Founded in 2016, Kroo Bank was built on a simple belief: when customers do well, their bank should do well too.”
- kroo.com/current-account checked September 26, 2026
Backs: Card type, Headline rate, Minimum deposit, Rate type
“Use your Kroo Bank debit card around the world - current account”
- kroo.com/current-account/fees checked September 26, 2026
Backs: Pricing model, Monthly fee
“Account name: Personal Current Account ... Maintaining the account £0”
- kroo.com/documents/current-account-terms-and-conditions.html checked September 26, 2026
Backs: Access terms, Account kind, Deposit protection, Headquarters, Legal entity, Support channels, Licences
“Interest will be calculated daily by applying the relevant annual interest rate to the daily cleared balance... Any interest payable will be added to your account monthly.”
- kroo.com/personal-loans checked September 26, 2026
Backs: Loan amount, APR, Credit check, Free early repayment, Lender type, Loan types, Representative example, Term, Use cases
“With loans from £1,000 to £25,000 and repayment terms from 1 to 5 years”
- kroo.com/spending-abroad checked September 26, 2026
Backs: Features, Currency conversion fee, Card network
“Fee-free spending abroad and no foreign transaction fees - current account”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Kroo
A free app-only easy-access account in the UK with an optional personal loan.