Lulo Bank review

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

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Our verdict

Lulo Bank is a direct lender in CO and the drawdown is the draw: same day funding puts approved cash straight into the Lulo account. Personal loans of COP 1,500,000 to COP 50,000,000 suit Colombian adults with the app and an income above the stated level.

Key facts

Best for
A personal loan of COP 1,500,000 to COP 50,000,000 for a Lulo app user who wants approved money in the account the same day.
Loan amount
COP 1,500,000 to COP 50,000,000 (Source, checked September 26, 2026)
Term
12 to 48 months (Source, checked September 26, 2026)
Funding time
Immediate to Lulo account; free transfer to another bank may take up to 3 business days (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Eligibility
Colombian nationality with citizen ID, aged 21-65, must hold the Lulo app, income above 2,000,000 COP (Source, checked September 26, 2026)
Loan types
Personal (Source, checked September 26, 2026)
Headquarters
Colombia (Source, checked September 26, 2026)
Support channels
Help-centre, Chat (Source, checked September 26, 2026)
Features
Same-day funding
Official website
lulobank.com

Pros and cons

Pros

  • Lulo is a direct lender, so the bank that issues the loan is also the bank holding your current account.
  • same day funding means approved cash lands in the Lulo account immediately rather than after an external transfer.
  • Terms of 12 to 48 keep the commitment short and easy to budget from monthly income.
  • A range of COP 1,500,000 to COP 50,000,000 covers a modest top-up as well as a larger balance.

Cons

  • Support runs on help centre and chat only, so there is no phone line for anything complicated.
  • The product on offer is personal loans, so anyone after a credit line or a consolidation loan needs another bank.
  • The 12 to 48 term is shorter than the 480 other personal lenders stretch to on this comparison.

Ready to try Lulo Bank?

Scored 9.1 / 10 by BorrowCue.

See alternatives

Who it suits

  • Colombian nationals with a citizen ID, an income above the stated level and the Lulo app already on their phone.
  • Borrowers who want approved money sitting in their Lulo account straight away, not waiting on an external transfer.
  • People clearing a moderate balance who would rather finish quickly than carry a long commitment.

Who should look elsewhere

  • Cashspace ES, for euro borrowing from €100 to €5,000 if you are shopping outside Lulo's CO market.
  • Monzo Flex, whose £10,000 to £35,000 range suits a far larger sterling ticket than Lulo's COP 1,500,000 to COP 50,000,000 on offer here.
  • Cashspace, whose PHP 500 to PHP 25,000 sits in a different market and a much smaller bracket than this loan.

The company behind it

Lulo Bank is based in Colombia and operates from its own app, so the loan and the repayments sit alongside the bank account. Customer help runs through help centre and chat, which means most questions get answered in writing or in an app chat rather than over the phone. Keep your citizen ID and income details to hand before you start.

How Lulo Bank compares

Where Lulo Bank is available

Available
Colombia

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

Frequently asked questions

How much can I borrow from Lulo Bank?+

Lulo's personal loan runs from COP 1,500,000 to COP 50,000,000, so the size is set by a stated range rather than a single figure. The larger end needs an income above the stated level, since eligibility also requires Colombian nationality, a citizen ID and an age inside the stated band.

How long do I have to repay?+

The term runs 12 to 48, so the commitment is short and easy to budget from monthly income. Lulo is a direct lender, so the bank that sets up the loan is the same one holding your account, and the schedule stays inside the app.

Who can apply for a Lulo loan?+

Applicants need Colombian nationality, a citizen ID, an age inside the stated band, income above a stated level and the Lulo app on their phone. Lulo is a direct lender, and the product on offer is a personal loan, so decisions follow the bank's own criteria.

How quickly does the money arrive?+

Funding is same-day, since same day funding applies and the cash lands in the Lulo account immediately. A free transfer out to another bank can take several business days, so allow for that if you are paying someone else rather than spending from the Lulo account.

Which market does Lulo Bank serve?+

Lulo Bank is based in Colombia, and the loan is built for that market rather than for cross-border borrowers. Eligibility rules, the app and the repayments all follow local practice, so readers shopping outside the country are better served by a lender in their own market.

What help is available if something goes wrong?+

Support runs through help centre and chat, so questions get answered in an app chat or through the self-serve help centre. Both routes keep a written record, which suits borrowers comfortable reading a reply rather than talking a case through. Keep your chat history handy if a repayment needs checking.

Is the repayment period in line with other lenders?+

Lulo's term of 12 to 48 sits below the longest personal loan term on this comparison, which stretches to 480. That suits borrowers who want the debt closed off quickly, though the shorter window puts more pressure on each instalment on a larger balance.

Sources

Compiled from 2 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: APR, Arrangement fee, Credit check, Representative example.

Lulo Bank

A personal loan of COP 1,500,000 to COP 50,000,000 for a Lulo app user who wants approved money in the account the same day.

9.1/10See alternatives

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