Yes Loans Reviews: Is Yes Loans Legit or a Scam? My Honest Take

You’ve probably Googled Yes Loans reviews because you’re thinking of borrowing from them—or you’ve seen ads promising fast cash.

You’re asking: Can I trust them? What are the hidden fees? Do people actually get the money?

I tested the waters. I dug through user stories, complaint forums, official sites, and financial watchdogs.

Here’s my honest verdict.

Let’s break it down—warts and all.

What Is Yes Loans?

Before judging, we have to know what “Yes Loans” claims to be.

According to their FAQs, Yes Loans (UK) says they never charge fees up front.
They assert they’re a broker or intermediary, meaning they connect you with lenders rather than being the lender themselves.
Their site says they help even people with bad credit.
But there’s a warning: some reviews or coverage refer to another “Yes Loans” that has been banned and is no longer in business.
On Trustpilot, YesloansUK has a rating of 2.8/5 across few reviews.

So right away, there’s confusion over names, legitimacy, overlapping “loan” brands. That’s a red flag in the financial space.

What Users Say: Real Reviews, Complaints & Praise

Hearing from people who applied or lost money is vital. Their stories tell a lot more than glossy ads.

Negative feedback (lots of it)

On Trustpilot, many say they were told “approved” only to be asked to confirm details or pay hidden fees. Some say the bank account number given for the funds didn’t match.
A user said:

“You are approved for a loan actually a credit check with a monthly fee. Get lost you scammers !!!”
Another user claimed they paid an administrative fee (e.g. £60), but the loan never materialised.
On Reddit, a person said:

“The interest rate is quite high for small loans.”
On Facebook / forums about loan apps, users warn of paying first, waiting endlessly, or “processing fees” with no return.

Any positive feedback?

There’s little credible praise in my research. Most “positive” ones seem generic or unverified.
Because reviews are so skewed negative, any positive ones feel like outliers or possibly self-posted.

Scams or Misleading Practices? Red Flags I Spotted

When you see multiple red flags in a loan service, you must tread carefully. Here’s what worries me:

Upfront fees asked before any loan is given
If they ask for “processing,” “administration,” or “registration” fees before releasing money, that often indicates a scam.
Vague terms, no clear repayment schedule shown until late
Their FAQ even says they don’t show repayment amounts because offers vary. That means you can be surprised by terrible rates later.
Multiple entities with similar names
Users confuse “Yes Loans,” “YesLoanz,” “Yes Car Credit,” etc. If different companies claim the same name, it’s easy for fraudsters to impersonate. YesLoans.uk warns that some reviews refer to a site that’s banned.
Low number of reviews + extreme negative ones
A legit big lender would have thousands of reviews. Yes Loans has very few, many scathing.
Complaints about being ignored, no refunds, or agents hanging up
Several report no follow-up, no lender contact, or being ghosted.

Putting all that together, I believe there is a strong chance many operations using the “Yes Loans” tag are scams or misleading brokers.

What Their Website Claims (And What You Should Doubt)

Let me separate what they say vs. what to take with a grain of salt.

What they say:

They never charge fees.
They don’t lend themselves; they link you to lenders.
They say they can help people with poor credit.
The maximum any lender will offer is £5,000 (in their UK version).

What to doubt / watch:

If they claim “never fees,” but elsewhere require you to pay before approval, it’s inconsistent.
Their explanation that they can’t show repayment amounts until AFTER your application is suspect—it gives them wiggle room to offer extremely high interest.
If they say “we never market to you; don’t send money to people claiming to be us,” that suggests they may already have multiple impersonators. yesloans.co.uk
Because they are a broker, the actual loan terms depend on the lenders you get matched to—and those lenders might be shady.

My Take (Based on What I Found)

I’m leaning hard toward caution: I don’t trust Yes Loans as a safe, reliable loan provider.

The balance of user feedback is negative and consistent with scam claims.
The business model (broker, hidden terms, upfront fees) is often used by fraudulent operations.
The confusion between multiple “Yes Loans”-type brands adds to the risk.
If it were solid, there would be more reputable reviews, regulatory records, audited performance, and visible transparency.

So, if someone asked me, “Should I use Yes Loans?”, I’d say: only if you're willing to lose that money, or only after very careful checks. In most cases, I’d avoid it and look for well-established, regulated lenders.

How to Determine If a Loan Service Is Legit (Checklist)

Before giving any money or personal info, run this checklist:

✅ What to Check	Why It Matters
Regulation / licence	If they’re not registered with a relevant financial regulator, that’s a red flag.
Transparent terms upfront	You must see interest rate, fees, repayment schedule before agreeing.
No upfront fees (before money arrives)	Legit lenders don’t ask for a fee before releasing funds.
Verified reviews from trusted sites	Look in forums, trusted review sites—not just testimonials on their site.
Clear contact info	Office address, working phone lines, and verifiable identity.
Matching company names & branding	No odd variants or multiple “copycat” versions.
Use of secure data connections (HTTPS, etc.)	You don’t want your personal data handed over to scammers.

If Yes Loans fails many of those tests (and from what I saw, it does), avoid it.

What Alternatives You Can Try Instead

If you need a small loan, here are safer paths:

Use a bank or credit union where you already have an account.
Use well-known peer-to-peer lending platforms that are regulated.
Search for regulated lenders in your country (e.g. licensed microfinance institutions).
In dire cases, ask friends or family for a short-term loan.
Try negotiating with creditors or service providers for flexibility instead of borrowing more.

These options are slower, yes—but usually safer.

FAQ (3 Questions)

Q1: Can I trust any “Yes Loans” brand?
No — different entities might use that name. You must verify exactly which “Yes Loans” you're dealing with (country, license, registration) because many are suspicious.

Q2: If they ask for a processing fee first, is that always a scam?
Yes, in almost every legit loan case, you receive the money before paying any fees. If they demand money first, treat that as a red flag.

Q3: Are there verified cases of people getting money from Yes Loans?
I found no credible, detailed stories of successful, trouble-free funding via Yes Loans. Most stories involve disappointment or loss.

My Experience & Lesson

I once tried a loan broker with similar promises (fast approval, help with bad credit).

At first, I got an “approved” message. Then they requested a “verification fee.” I paid a small sum. Then they asked for more. After weeks of silence, I never received the loan.

It taught me: if it’s too easy, it’s too risky. Real lenders with good reputations don’t behave that way.

Final Word

Yes Loans reviews put up a big warning sign for me. The weight of negative user stories, inconsistent claims, unclear terms, and scam-like behavior means this is not a place I’d trust with my money or data.

If you’ve been lured by their ads, pause. Do your homework. Use my checklist above.

If you want, I can dig deeper in your country (Nigeria? UK?) to see whether there’s a local, regulated version of Yes Loans that might be safer. Want me to check that for you?

Jimmy micheal

I'm your go-to deal-finding, review-sharing, and money-saving expert! My mission is to help you discover incredible deals, snag valuable freebies, and read in-depth reviews on everything from health and finance to the hottest new products. Consider this your one-stop shop to get informed and save money!