Requirements to apply for a Koho credit application
☑️ Live in Alberta, Ontario, New Brunswick, Saskatchewan, Nova Scotia, or British Columbia
☑️ Be an active KOHO app member
☑️ Have a personal bank account for income verification
☑️ Hold a government-issued photo ID
☑️ Meet minimum income requirements set by the lender
Documents needed
📄 Government-issued photo ID (such as driver’s license or passport)
📄 Full bank account information for income verification
📄 Up-to-date personal information (name, address, contact details)
📄 Proof of income (bank statements, pay stubs, or tax returns)
📄 Active and updated KOHO app registration
Final approval depends on meeting all these conditions, and other documents may be required.
How to apply for a Koho line of credit
To start your Koho credit application, you must access the KOHO app on your smartphone. Inside the app, look for the borrowing section and follow the link to KOHO’s partner Fora, who handles the application. You will fill out an online form with personal and financial details and submit it directly through the app.
Once submitted, your application will be reviewed, and if approved, funds can be available as soon as the same business day. To increase your chances of getting better terms, make sure all information is accurate and complete. If your application is denied, you can try again later after reviewing your financial situation.
How to pay monthly bills for Koho line of credit
Monthly payments for the Koho credit application are managed entirely through the KOHO app. You can set up automatic payments to avoid missing due dates or pay manually before the deadline. Payments include interest on the amount you’ve used and a required portion of the principal.
The best strategy is to pay above the minimum to reduce the interest charged. Payments can be made via linked bank accounts or transfers, and the app notifies you when the bill is available, helping you stay organized.
Rates and costs
The Koho credit application includes interest rates starting from 19.9% per year and can reach up to 34.9% annually depending on your credit profile. There are no annual fees, late fees, or origination fees. You only pay interest on the amount of credit used.
Although KOHO doesn’t charge late fees, unpaid amounts will continue to accrue interest until fully paid. Importantly, checking if you qualify will not impact your credit score, but how you use and repay the line may influence your score over time.
A tip for your wallet
One practical way to manage your Koho credit application is to withdraw only what you need and avoid using the entire credit limit unless necessary. Since interest is charged only on the amount used, keeping a low balance helps minimize costs.
Also, always aim to pay more than the minimum required to reduce the principal faster and avoid accumulating high interest. Setting up automatic payments through the KOHO app ensures you won’t miss deadlines, and using KOHO’s own budgeting tools can help you control spending and optimize repayments.
Ready to get started?
Click below to apply for your Koho credit application and check all current rates and terms directly on the official KOHO website. The Koho credit application is a smart way to secure flexible credit!