Monevo’s lenders offer loans for as little as $500 and as much as $100,00, with repayment terms from 6 – 144 months. Their personal loans can be used for any purpose the borrower chooses. Monevo’s terms and interest rates are very favorable compared to its competitors, and the credit requirements to qualify for a loan are less stringent than many other personal loan companies.
Monevo Personal Loans Review
Monevo personal loans are funded by over 50 lenders doing business in the U.S. and another 100+ worldwide. The company offers competitive fixed rates on loans ranging from $500 to $100,000.
Monevo Personal Loans Highlights
LOAN AMOUNT
$500 - $100,000
LOAN REPAYMENT TERM
6-144 months
MIN CREDIT SCORE
300
APR FIXED RATE
1.99% - 35.99%
FUNDING TIME
1 days
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
None
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
- Low minimum and high maximum loan amounts
- No fees to apply
- No minimum credit score needed
- Does not provide customer service to borrowers
- Existing bank account required
Personal Loans Types
- Unsecured Personal Loans
- Fixed-Rate Personal Loans
Monevo Personal Loans Terms & Requirements
How to Apply
Receiving a loan through Monevo is fast and simple. There is a one-page (one-screen) application. After completing Monevo’s application, you are matched with multiple lenders from which you’ll select and apply for final approval.
Step 1
Loan details
Qualification Requirements
Monevo has several industry standard requirements for someone interested in a personal loan:
- Minimum age: 18
- U.S. citizen or permanent resident
- Have a valid Social Security number
- Have a valid driver’s license/state ID
- Have a regular income
- Have an open bank account for funding purposes
Required Information
Monevo requires you to provide the standard of personal information and the loan amount requested to match you with a lender.
Application Steps & Time Frames
- Complete the information form: 5 minutes
- Wait for a decision: typically, within two hours
- Funding is released in around one business day (depending on the lender)
Monevo’s process is simple and quick. Funding is faster than many other personal loan lenders.
State Availability
Available in all states
Privacy & Security
Monevo stresses that privacy and security are a priority for them. They use SSL encryption on their website to keep your personal data safe and secure.
Its privacy and security statement reads in part, “The presence of SSL means you can rest assured that communications between your browser and this site web servers are private and secure when the SSL session is activated. SSL certificates from GeoTrust® are the ultimate online security and trust solution delivering both 256-bit encryption and the True Site™ trust mark providing third-party website identity validation.”
Customer Support
Monevo offers customer support via telephone or e-mail.
We found Monevo’s Encinitas, CA-based telephone support for U.S. customers to be very responsive and their hours convenient for residents in other time zones.
Phone Support
(619)-536-0749
Mon-Fri
6am-8pm PST
Sat
7am-6pm PST
Sun
Closed
Email Support
SupportUSA@monevo.com
Social Media
In Conclusion
Monevo is a highly-rated loan aggregator that matches borrowers with lenders based on the loan amount and the borrower’s creditworthiness. It has an A+ rating from the BBB and favorable ratings on TrustPilot and other review sites.
FAQ
Narrowing down which lending partners can help you through Monevo will not affect your credit score. When you select a lender and they perform a credit check, that may negatively affect your score.
Yes, Monevo also has offices in the United Kingdom and Australia.
Most applicants are pre-approved for a personal loan within minutes, and most lenders release funding by the end of the next business day.
Monevo Disclaimer
APR’s on loan offers from the panel of lending partners on Monevo originated through Google or Bing advertisement range from 1.99% to 35.99%, with loan durations between 6 months and 144 months. Repayment examples (for illustrative purposes only): a $10,000. Loan at 4.89% APR with a term of 3 years would result in 36 monthly payments of $299 (Total repayable: $10,772) and a $10,000 loan at 9.99% APR with a term of 5 years would result in 60 monthly payments of $201.81 (Total repayable: $12,108.60). Each state has specific rules and regulations that govern lending partners. The amount you can borrow, the APR, and repayment term are based on your state’s laws, the lending partner, and your creditworthiness.
Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.
9.0
LS SCORE
10
CREDIBILITY
8.0
SUPPORT
9.0
ACCESSIBILITY
Opening Hours
Mon-Fri
6am-8pm PST
Sat
7am-6pm PST
Sun
Closed
Email Support
SupportUSA@monevo.com
Social Media
Live Chat
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