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Nequi review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Nequi pairs a Colombian savings account with a virtual Visa debit card at no monthly charge, so it suits anyone living there who wants everyday spending and small personal loans in one app. Loans run at 2.73% to 65.36% with a hard credit check, so borrowers with a thin file should read the rate first.

Key facts

Best for
Everyday money in Colombia in one app, with a card and small personal loans.
Monthly fee
COP 0↗
Card type
Debit↗
Card network
Visa↗
Legal entity
Nequi S.A.↗
Headquarters
Colombia↗
Founded
2016↗
Support channels
Phone, Chat, Help-centre, Community↗
Features
Virtual card
Official website
nequi.com.co

Loans

APR
2.73% to 65.36%↗
Loan amount
COP 100,000 to COP 5,550,000↗
Term
1 to 48 months↗
Arrangement fee
0 COP - loan management, loan study, disbursement and collection fees are free↗
Credit check
Hard↗
Funding time
Disbursement in minutes↗
Representative example
Credito de Bajo Monto: COP 1,000,000 over 36 months at 2.4% E.M (33% E.A), monthly payment COP 49,671↗
Rate type
Variable↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
Ages 18 to 65, no pending payment obligations↗
Origination fee (%)
0% to 4%↗
Loan types
Personal↗
Credit needed
Poor↗
Use cases
Home-improvement↗
Pricing model
No monthly fee

Savings

Access terms
Nequi savings account for Colombian natural persons over 18, unlimited balance and no transaction cap, one savings account per user, deposit insured by FOGAFIN↗
Account kind
Easy access↗

Facts checked September 26, 2026, 10 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • A monthly fee of COP 0 on the account and the card, with a virtual card card on visa.
  • Loan management, study, disbursement and collection fees are free, and early repayment carries nothing.
  • The savings deposit is insured by FOGAFIN, with an unlimited balance and no transaction cap.
  • Support runs on phone, chat and help centre.

Cons

  • The credit check is hard and the credit needed is poor, so a thin file can stop a loan application.
  • Borrowing costs 2.73% to 65.36% on a variable rate, and an origination charge of 0% to 4% can apply.
  • The savings account is for Colombian adults, holds a single account per user, and eligibility covers Ages 18 to 65, no pending payment obligations.
Nequi

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Scored 9.0 / 10 by SumCue.

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Who it suits

  • Colombian adults who want spending, savings and small personal credit in one app.
  • People funding home improvements, the stated use case for the credit.
  • Borrowers who can pass a hard credit check and want funds within minutes.

Who should look elsewhere

  • Anyone banking outside Colombia, since the savings account is for Colombian natural persons: Wise, at £0 a month, is the one to compare.
  • Readers who want a card tied to a deposit rather than a lending relationship: Varo Believe Secured Credit Card, at $0 a month.
  • Anyone wanting an account in euros rather than a Colombian wallet: bunq, whose monthly fee is €0.

Rates and terms

Credit costs 2.73% to 65.36% with terms of 1 to 48, while the savings account pays a variable rate. The spread inside that borrowing range is wide, so the upper end is expensive, and a variable rate can move before you finish paying. Anyone planning a long repayment should compare the offer closely rather than take the headline figure.

Who runs it

Nequi is run by Nequi S.A., headquartered in Colombia and founded in 2016. Support runs on phone, chat and help centre, so a phone line sits alongside chat, a help centre and a community. The company operates in Colombia, which shapes everything from the currency of the savings balance to the credit check on a loan.

How Nequi compares

Where Nequi is available

Available
Colombia

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does it cost to keep a Nequi account and card?+

The account and the card carry a monthly fee of COP 0, and the account runs on a no monthly fee model, so nothing is charged simply to keep it open. The extra costs sit on the credit line rather than the everyday spending: an origination charge of 0% to 4% can apply when you take a loan.

Is my savings money protected?+

The savings deposit is insured by FOGAFIN, the protection scheme named for the Nequi savings account. The account is easy access, with an unlimited balance and no transaction cap, and a single savings account per user.

Who can open a Nequi account?+

Eligibility covers Ages 18 to 65, no pending payment obligations, and the savings account is aimed at Colombian natural persons who are adults. Pending payment obligations rule an application out, and the offer is built for a single market rather than a cross-border audience.

What does borrowing cost and how fast is the money?+

Credit runs at 2.73% to 65.36% with terms of 1 to 48, and the rate type is variable. Disbursement is Disbursement in minutes, so speed matters as much as the rate. Loan management, study, disbursement and collection fees are free, and early repayment costs nothing.

How do I reach help if something goes wrong?+

Support runs on phone, chat and help centre, so a phone line, chat, a help centre and a community are all open to customers. Nequi S.A. is the operating company, and it is the entity behind both the savings account and the loans.

What card comes with the account?+

The card is debit and runs on visa, with a virtual card option for paying online. The monthly fee on the card is COP 0, so the card adds no fixed cost on top of the account.

What credit history do I need for a loan?+

The credit check is hard and the credit needed is poor, so a thin credit history makes approval harder. The loans are personal and aimed at home improvement spending, which is a narrow target for a first-time borrower.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

Nequi

Nequi

Everyday money in Colombia in one app, with a card and small personal loans.

9.0/10See alternatives