Updated September 28, 2026 · BorrowCue Editorial Team
Plazo ES vs Wandoo
Where Plazo ES and Wandoo differ
| Compare |  Plazo ES |  Wandoo |
|---|---|---|
| APR | 24.19%Lower | 4,530.48% to 8,385.16% |
| Loan amount | €500 to €5,000Higher | €50 to €1,800 |
| Term | 48 monthsHigher | 7 to 35 months |
| Arrangement fee | 0 EUR | 0.00 EUR (no opening or study commission) |
| Funding time | Money available about 10 minutes after sign-up; approval answer arrives in minutes | 24-48 hours after approval, depending on the bank |
| Representative example | Línea de crédito revolving 1.500 EUR, TIN fijo 21,86%, TAE 24,19%, 48 monthly instalments of 47,15 EUR, total due 2.263,20 EUR | Loan of EUR 100 over 35 days, TIN 463.55 %, TAE 4,530.48 %, interest EUR 44.45, total repayable EUR 144.45 |
| Rate type | Fixed | Variable |
| Eligibility | Over 18, DNI/NIE or European passport, resident in Spain, demonstrable income, good credit history | 18 or older, resident in Spain, valid DNI/NIE, bank account in a Spanish entity, verifiable regular income, own email and mobile |
| Loan types | Personal, Credit line | Payday, Personal |
| Credit needed | Good | Fair |
Same on both: Credit check (Hard), Lender type (Direct lender), Free early repayment (No), Origination fee (%) (0%), Use cases (Home improvement).
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Key differences
- Plazo ES scores higher overall: 8.9 vs 8.7.
- Founded is lower at Wandoo: 2017 vs 2021.
- APR is lower at Plazo ES: 24.19% vs 4,530.48% to 8,385.16%.
- Loan amount is higher at Plazo ES: €500 to €5,000 vs €50 to €1,800.
- Term is higher at Plazo ES: 48 months vs 7 to 35 months.
- Support channels: only Plazo ES offers Chat.
- Loan types: only Plazo ES offers Credit line.
- Loan types: only Wandoo offers Payday.
Our verdict on each
Plazo ES
Plazo ES suits Spanish residents with a good credit history who want a small personal loan or a revolving credit line funded within minutes. Its 24.19% annual cost is high next to cheaper lenders, so the total repaid over 48 instalments is the figure to weigh.
Wandoo
Wandoo suits borrowers in Spain who want a small, short loan with no opening or study commission. The catch is the rate: an APR of 4,530.48% to 8,385.16% sits well above the personal loan median of 12.25%, and early repayment carries a charge.
Score breakdown
| Area | Plazo ES | Wandoo |
|---|---|---|
| Cost | 8.7Higher24.19% annual cost sits well above cheaper lenders, and free early repayment is not offered. | 8.6Origination fee of 0.00 EUR (no opening or study commission) and no free early repayment, against an APR of 4,530.48% to 8,385.16%. |
| Offer | 9.5HigherA personal loan and a credit line under personal and credit line, with funding within minutes of sign-up. | 8.8 |
| Trust | 8.7 | 8.8Higher |
Licences and countries
| Country | Plazo ES | Wandoo |
|---|---|---|
| Spain | Banco de España 6899 | Not confirmed |
Available in 1 country for both.
Side by side, item by item
| Loan types | Plazo ES | Wandoo |
|---|---|---|
| Personal | Yes | Yes |
| Payday | No | Yes |
| Credit line | Yes | No |
| Use cases | Plazo ES | Wandoo |
|---|---|---|
| Home improvement | Yes | Yes |
Sources behind this comparison
Plazo ES
- plazo.es: 21 facts, checked September 26, 2026
Wandoo
- wandoo.es: 19 facts, checked September 26, 2026
How they place
| Ranking | Plazo ES | Wandoo |
|---|---|---|
| Personal loans | 20 of 1944 | 26 of 1944 |
| Home improvement loans | 10 of 562 | 12 of 562 |
Every fact side by side
| Fact | Plazo ES | Wandoo |
|---|---|---|
| Pricing model | Fixed rate | Not confirmed |
| Features | Credit line, Same day funding | Not confirmed |
| Legal entity | IDFinance Plazo, S.L.U. | Wandoo Finance S.L.U. |
| Headquarters | Spain | Spain |
| Founded | 2021 | 2017Lower |
| Support channels | Email, Chat, Phone, Help centreCovers more | Email, Phone, Help centre |
Where each stands against the rest
| Fact | Plazo ES | Wandoo | Median |
|---|---|---|---|
| APR | 24.19%highest quarter | 4,530.48% to 8,385.16%highest quarter | 8.99% |
| Loan amount | €500 to €5,000lowest quarter | €50 to €1,800lowest quarter | €40,000 |
| Term | 48 monthsbelow the median | 7 to 35 monthsbelow the median | 60 months |
| Origination fee (%) | 0%below the median | 0%below the median | 0.25% |
Median across 1007 listed lenders.
Pros and cons
Plazo ES
Pros
- The approval answer arrives in minutes and the money is available in your account shortly after you sign up, so a cost that cannot wait can be covered the same day.
- The origination fee is 0 EUR on the personal loan and the credit line, so the cost sits in the rate rather than in a setup charge.
- The rate is fixed, so an instalment does not rise when market rates move.
Cons
- The annual cost of 24.19% sits well above 12% for the median brand on the site, so the interest does most of the work in what you repay.
- Free early repayment is not offered, so clearing the balance ahead of schedule does not bring the cost down, while 81.2% of the brands compared do offer it.
- Applications run a hard credit check, so an outcome here can also weigh on other credit applications you make.
Wandoo
Pros
- No opening or study commission, with an origination fee of 0.00 EUR (no opening or study commission) on the payday and personal loans.
- Repayment follows the income cycle: €50 to €1,800 over 7 to 35, which suits a bill that clears next month rather than a multi year plan.
- Fixed monthly cost from a direct lender, direct lender, so the terms sit with one counterparty instead of a broker chain.
Cons
- The APR of 4,530.48% to 8,385.16% is far above the payday loan median of 36.5%, and the top of the range reaches 4,530.48% to 8,385.16%.
- Free early repayment is no, so clearing the loan early still carries a charge.
- The amount ceiling of €50 to €1,800 is small next to the home improvement median of €1,000, so a large renovation needs another lender.
Who each suits
Plazo ES
Who it suits
- Adults living in Spain with a DNI/NIE or a European passport, demonstrable income and a good credit history.
- Borrowers who want both a personal loan and a revolving credit line from the same firm, since the range covers personal and credit line.
- People who can carry a 24.19% annual cost and value money in the account within minutes of signing up.
Who should look elsewhere
- Readers chasing a lower annual cost, since Monzo Flex quotes 10% to 23% against 24.19%.
- Borrowers who plan to finish early, since free early repayment is not offered here while most of the site comparison does offer it.
- Anyone needing a sum above €500 to €5,000, where Cashspace at PHP 12 to PHP 36 is set in a different currency and market.
Wandoo
Who it suits
- Adults resident in Spain with a valid DNI/NIE, a Spanish bank account and verifiable regular income.
- Borrowers covering a short term expense, home improvement is the stated use.
- People whose credit file stands at a fair level and who can handle a hard credit check.
Who should look elsewhere
- Anyone planning to settle the loan early, since free early repayment is no.
- Borrowers needing a long repayment period, as 7 to 35 is short.
- Readers comparing against Monzo Flex, where an APR of 10% to 23% sits far below 4,530.48% to 8,385.16%.
Current offers
Plazo ES
Current offer
Bonus
Cashback on purchases with the Plazo card: Up to 15% cashback at favourite brands
Only when paying with the Plazo card; subject to meeting eligibility conditions and validity of the offers
Source, checked September 26, 2026
Wandoo
Current offer
First period offer
Primer minicredito gratis de 250-300 EUR al 0 % TAE: 0 % TAE on a first loan of 250-300 EUR (up to 30 days)
New customers only, amount 250-300 EUR, returned within the agreed term of up to 30 days without delay
Source, checked September 26, 2026
Country by country
| Country | Plazo ES | Wandoo |
|---|---|---|
| Spain | Yes | Yes |
Questions about each
Plazo ES
What does borrowing from Plazo ES cost?+
Plazo ES charges an annual cost of 24.19% on a fixed basis, and the origination fee is 0 EUR, so there is no setup charge to add. The published representative example is a revolving credit line repaid in 48 monthly instalments, and the total due comes to noticeably more than the amount drawn. That gap is the real cost to weigh.
Is Plazo ES a regulated lender?+
Plazo ES is a direct lender listed with Banco de España under 6899, so a Spanish supervisor is responsible for how it conducts that business. A loan is a borrowing contract rather than a savings account, so what you owe comes from the published terms, and the register entry is the detail worth checking before you sign.
Wandoo
What does a Wandoo loan cost?+
The published APR is 4,530.48% to 8,385.16% and the rate is variable. There is no opening or study commission, the origination fee being 0.00 EUR (no opening or study commission), so the interest rate does most of the work in setting what you repay. The representative example shows the annual cost clearly once the short term is taken into account.
Are there arrangement or opening fees?+
The origination fee is 0.00 EUR (no opening or study commission), and there is no opening or study commission on the payday or personal loans. Interest on the amount borrowed is the main cost, and the rate is variable, so it can move with the reference rate.
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