Monevo 2021 Review
Since 2008, Monevo Inc. (a division of Quint Group) has helped consumers find personal loans through their online loan marketplace in the UK. Starting in 2017, Monevo expanded their award-winning loan comparison services to borrowers in the United States.
To search for a personal loan through Monevo, you can simply visit their site and fill out a free application, which can take as little as 60 seconds. This step by step form allows you to choose the loan amount, term, and the purpose of your loan from a drop-down list. It will also ask for some details regarding your annual income, employment, credit scores, education, personal information, residence, and Social Security number. There is no impact on your credit score to check your personal loan rates.
Monevo's award winning technology then forwards this information to their lending partners (who may or may not require this data for a loan) to see if they have any real-time loan offers that fit your needs. These lenders will run a soft credit check to see your credit score and verify your identity. This process only takes a matter of seconds and does not affect your credit score.
Are you in need of a personal loan?
Instead of directly providing a loan, Monevo provides an online network that connects borrowers with top lenders.
The loans offered through Monevo's partners have the following:
- Loan amounts of $500 to $100,000
- Repayment terms of 12 months to 144 months
- APRs range between 2.49% to 35.99%*
In general, the better your credit score is, the lower your interest rate will be.
Monevo is best for...
- Consumers looking for personal loans with good terms
- Borrowers with all types of credit from poor to excellent
- Consumers looking for high loan amounts up to $100,000
How does it work?
There are a few requirements to search for a personal loan through Monevo:
- You must be a US citizen or permanent resident
- You must have a valid bank account in your name
- You must be 18 years of age or older
After you receive your personalized offers, you can compare them through a clear, organized table that transparently shows you the interest rates, repayment term length, monthly repayment amount, and other loan details.
There is no obligation to follow through with these offers, but if you choose to, you simply have to click the link provided. The loan is finalized on the loan provider's website (which may require additional documentation) and your funds are provided via direct deposit as soon as the next business day.
Keep in mind that a preliminary loan offer from Monevo's network does not guarantee that is exactly what you will get when you follow through, since the loan details may change even after you get your initial offer.
Because Monevo does not directly provide loans, the loan terms, costs, disbursements, interest rates, fees, and penalties are decided by Monevo's partner lenders. Any questions you have should be directed to your lender.
Official Website: Monevo.us Address: Monevo Inc 8910 University Center Lane, Suite 400 San Diego, CA 92122 United States
- 100% free and no obligation service: Monevo offers a completely free service, and there is no credit score impact when you submit your details to see your personalized search results (only a soft pull of credit is involved).
- Industry accreditations: Monevo is a multi-award winning personal loan matching service that has multiple trusted accreditations, including the OLA (Online Lenders Alliance) seal and an A from the BBB.
- Fast approval: Be connected with a lender in minutes.
- Receive your funds quickly: Borrowers can receive funds as soon as the next business day.
- Simple search process: Monevo is able to present personalized real time loan offers online in 60 seconds for a wide range of credit scores (Monevo's minimum FICO score is only 500).
- You can compare your offers through a transparent loan comparison table. Monevo presents your potential interest rates, loan amounts, loan terms, and more in an easy to understand comparison table.
- Secure website: Monevo uses SSL encryption to protect your sensitive, personal data.
- Realtime chat support: Monevo provides quality customer support to their users through online chat functionality (available from 9am - 3pm PST). They also offer telephone and email support.
- Positively reviewed service: As of August 29th, 2019, Monevo has a customer experience rating of 4.6 of 5 stars based on 515 verified user reviews from the online comparison site Feefo.
- Monevo is a relatively new service to the US market (compared to their competitors in the marketplace like LendingTree or LoansUnder36). However, their UK lending marketplace services (established through the international fintech company Quint Group) are well respected and have been established since 2009.
- There is no phone number to contact Monevo directly. Interested consumers must fill out a form online or contact Monevo through live chat (available from 9am - 3pm PST).
- You may receive phone calls and emails from Monevo's partner network.
- Monevo can accommodate customers across all types of credit from Poor to Excellent, although their minimum suggested FICO® score is 450.
- Loan amounts range from $500 up to $100,000.
- Repayment terms range from 3 months to 144 months.
- Interest rates are fixed.
- APRs range between 2.49% to 35.99%*.
- Your specific loan details like pricing, amount, terms, and interest rates depend on your individual lender.
Monevo is an accredited online marketplace that connects borrowers to lenders worldwide. Monevo's lending partners offer loan amounts up to $100,000 and rates from 2.49% APR.
Consumers can compare multiple no-obligation personalized loan offers in 60 seconds with Monevo's innovative loan search technology.
Monevo disclaimer: APR’s on personal loan offers from the panel of lending partners on Monevo originated through Google or Bing advertisements range from 2.49% to 35.99%, with loan durations between 90 days 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.
Frequently Asked Questions
What is Monevo?
Monevo is a loan comparison network that connects borrowers in need of a personal loan with lenders.
Will using Monevo to compare loan rates affect my credit?
Looking at your loan offers will not affect your credit since it doesn't require a hard credit check. However, if you decide to apply with one of Monevo's loan providers, they may authorize a hard credit check (which can temporarily affect your credit) once you have submitted your full loan application.
How does Monevo compare to other loan comparison marketplaces?
Monevo's streamlined application process can be completed in as little as 60 seconds. Monevo's no-obligation services can connect you to a multitude of lenders who offer varying interest rates (starting from 3.99% APR) and loan amounts as high as $100,000.
Is Monevo's website safe?
Monevo's website includes an SSL-encryption certificate from GeoTrust and uses 256-bit encryption to protect your information.
However, since Monevo connects you with lenders in their network, they will share some of your personal information with their trusted partners.
How do I know if I qualify for Monevo?
Individuals who are eligible to qualify for a loan through Monevo's partners must be a US citizen or permanent resident and be at least 18 years of age. You can do a simple search online with basic personal and financial information to see your personalized offers.
How can I contact Monevo?
You can contact Monevo through their contact form online at www.monevo.us/contact.
Reviews for Monevo
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4.6 out of 5 stars(9 Reviews)
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|Credit Score Required||500|
|Minimum Loan Amount||$500|
|Max Loan Amount||$100,000|
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