Monevo logo

Loan Amounts


$500 - $100,000

Loan Term


3 months to 12 years

APR Range


1.99% - 35.99%

Min. Credit Score


Not specified

Editorial Rating

Monevo Reviews: 2021 Edition

Advertiser disclosure This page may contain links to our partners’ products and services, which allows us to keep our website sustainable. This means that may receive a compensation when you sign up and / or purchase a product or a service using our links. However, all opinions expressed in this article are solely ours, and this content is in no way provided or influenced by any of our partners.

Loan Amounts


$500 - $100,000

Loan Term


3 months to 12 years

APR Range


1.99% - 35.99%

Min. Credit Score


Not specified




Funding Time


Next business day

Years in Business


Founded in 1999

BBB Rating


Not specified

Min. Revenue


Not specified




Monevo logo

Editorial Rating

Are you in need of a personal loan?

Are you looking for ways to get financed without having to go through a lengthy approval process or standing around all day in brick and mortar banks for loans?

Monevo will allow you to borrow money online and get personalized offers within seconds.


  • You can choose the loan amount between $500 and $100,000
  • You get interest rates ranging from 1.99% to 35.99% APR
  • Multiple personal loans offers with one application
  • Loan amount term from anywhere from 3 months to 12 years
  • Partnered with over 30 unique lenders.

Reading Monevo reviews such as ours will help you understand the ins and outs of the platform offers. Our breakdown, in particular, is intended to help you figure out if this is the best loan solution for you.

So let’s go with one thing at a time.

What Is Monevo?

Monevo was founded in the UK in 2009. Since then they have expanded and moved their headquarters on the other side of the Atlantic, to San Diego, CA. They are able to provide services to people living in the US, UK, Australia, and Poland.

How does Monevo compare to other loan comparison marketplaces?

Monevo is one of many marketplace platforms that are able to provide personal loan services. They utilize their award-winning technology to help borrowers find lenders online. The difference with other loan-matching platforms is that Monevo operates in real-time.

That said, don’t just assume that applying with Monevo doesn’t require a credit check. It still does, but they only do soft credit pulls which are not going to affect your credit score. After you fill out a free application you will then be matched with the best available lenders according to your terms. You can view loan offers and pick the one that suits your needs. After that, you are free to contact the lender and negotiate a loan.

Who Is Monevo Best for?

The Monevo personal loans can generally be used by anyone for various purposes. If you are in need of quick money loans, you can get personalized offers in around 60 seconds and then choose from an extensive network of lenders that you are going to be matched with.

Although Monevo is good for all types of personal loans, like debt consolidation, student loan refinancing, automobile loan refinancing, etc., the purpose might slightly affect the interest rate. If you are specifically looking for loans for a certain purpose there are some other places that offer better interest rates. However, the Monevo market place is still capable of matching you with many reputable partner lenders that can still give you a good deal.

That said, it’s not the best option for unsecured loans for bad credit. There is no minimum credit score requirement listed, however applicants with higher scores will get better offers.

Also, borrowers from the United States are able to use the platform as well as the UK, Australia, and Poland.

Getting Started with Monevo

Monevo Reviews

(Image Source: Monevo)

To find the best personal loans with Monevo you have to go through a loan approval process. But don’t worry, it is a lot faster than with other platforms, 5K funds for instance, and will take you only 60 seconds.

The first step requires you to enter your desired loan amount, the purpose, and your estimated credit score. You will be directed to the application page where you need to submit the following:

Monevo Reviews

(Image Source: Monevo)

Personal Information

  • Name
  • Date of birth
  • Education level
  • Contact information

Monevo Reviews

(Image Source: Monevo)

Housing Situation

  • Address
  • Monthly payments
  • Time at current address
  • Information about previous housing

Monevo Reviews

(Image Source: Monevo)

Employment Information

  • Employer
  • Annual pre-tax income
  • Social security number

After submitting all the necessary information, you will receive your results in 60 seconds and get matched with large authorized lenders where you will receive multiple loan offers.

Monevo Reviews

(Image Source: Monevo)

The next step to borrow money with Monevo is to pick the one from the network of lenders based on your loan requirements. Since Monevo is there only to help you match with a lender, from there on you will need to connect with them directly and agree on your lending options. Monevo collaborates with more than 30 reputable lenders that are able to help you borrow money online instantly.

List of Lenders on Monevo

  • Axos
  • Best Egg
  • Earnest
  • Figure
  • FreedomPlus
  • LendingClub
  • Lightstream
  • Marcus by Goldman Sachs
  • SoFi
  • Prosper
  • Upgrade

While Monevo will only perform a soft pull on your credit score, the lender you decide to go with will perform a hard inquiry to offer an estimated annual percentage rate of the loan. Unlike soft inquiries, hard pulls impact your credit score.

Once you come to a loan agreement with the lender, including setting the rate, fees, and loan duration, you will get funded instantly.

Terms & Requirements

The Monevo financial services are not accessible to everyone. There are certain loan requirements that applicants need to pass to qualify for a loan.

The main requirements and qualifications to apply include:

  • Being a US citizen (now also available for the UK, Australia, and Poland)
  • Having a bank account
  • Being at least 18 years of age.

Since Monevo operates as an open marketplace that connects you with lenders, they don’t offer any specific terms of their own. The Monevo personal loan connection service will get you in touch with the lender but the terms offered will solely be set by the lender you choose.

The Monevo reviews we went through, however, suggest that there are some terms that most lenders abide to.

  • A broad loan range that stretches from $500 to $100,000.
  • Monevo does not charge an origination fee nor does it set late payment fees. Those terms are set by the lender.
  • Repayment terms can go anywhere from 3 months to 12 years.
  • Monevo personal loans rates go from 1.99% to 35.99% APR.
  • Only soft credit pulls are done to prequalify for a Monevo loan.

Most of the terms will generally depend on your credit score and the lender you decide to go with. Either way, you will have access to the best way to borrow money especially with a steady stream of income.

User Reviews

When drafting our own Monevo loan review, we researched what users had to say. Most of the reviews were positive, with users reporting completed transactions in just a few days. They also cited the lack of fees and the high loan amount they can borrow.

On the flip side, other Monevo reviews indicated that some users were displeased by the terms offered by the lenders. They were unhappy about how they were treated and the bad interest rates they were offered. Some users also wanted more options in terms of lenders.


What many Monevo loans reviews, as well as ours, have in common are the positive things about the platform’s features.

Monevo’s two main advantages are the multiple loan offers with one application and using only soft pulls for credit checks.

The Monevo personal loan platform is also very user-friendly, with the offers that you qualify for from the top loan connection companies neatly displayed for you. It allows the borrower to assess the loans in peace and determine the most suitable. Once you get the offers, you can browse based on the available loan terms, the specific lenders, the total loan amount, etc.

Monevo does not come with a mobile app. That said, the site is mobile-friendly and one can use it with a smartphone or tablet.

Rates & Fees

Our lending platform review of Monevo shows that the vendor charges absolutely no fees for lenders. Using the platform, creating an account, even being matched is completely free.

The way Monevo makes money is by charging the lenders a small fee each time they are matched with borrowers.

However, while Monevo does not charge anything and only matches you with the best personal loan companies, they have the right to set their own terms.

Based on your line of credit you can apply for emergency funding with an interest rate between 1.99% and 35.99% APR. Funding starts at $500 and can go all the way to $100,000 maximum. This is much higher than what some of the rival platforms offer.

Borrowers can return their loans anywhere between 3 months and 12 years.

Privacy & Security

Monevo takes security and protection of information very seriously. The site uses SSL encryption.

Users can, therefore, rest assured that their information is kept safe.

Customer Support

If you happen to have any questions in regards to your personal loan services you can easily contact Monevo’s support team.

You can do so by sending an email or calling them directly over the phone. You can choose a specific region, the US, UK, Australia, or Poland, for your inquiry. The support team will be happy to answer any of your questions about your online personal loan application.


Monevo Inc

8910 University Center Lane

Suite 400

San Diego

CA 92122

However, if you have something that needs to be clarified about a specific loan, you are encouraged to contact the lender directly.

Final Verdict

Wrapping up our review, we have to say that although Monevo is one of the best places to get a personal loan, it is still not for everyone.

It’s perfect for personal loans for good credit. Also, if you are on a hunt for a personal loan that you want to use for any option that suits you, Monevo is a good place to start. The quick application and matching process will help you get favorable rates in no time.

If you are looking for a specific loan, for example, a home equity loan or one to consolidate debt, there are other places that offer better rates for these types of specific loans.

On the flipside, Monevo offers some of the best personal loans and a lot of them too, while only performing soft credit pulls so it doesn’t hurt to check if they will find something for you.


  • Very fast application: The process of applying with Monevo and getting matched with lenders really does take 60 seconds and sets you off for quick loans.
  • Does not impact your credit score: Monevo performs a soft pull on your credit check so getting matched with lenders will not impact your credit score.
  • No fees: There are absolutely no fees for using, applying, and getting matched with lenders at Monevo.
  • High loan amount: The maximum amount that you can loan with the help of Monevo is $100,000, which is a lot higher compared to rival loan services.
  • Real-time results: Monevo uses its award-winning matching algorithm so you can be sure that the rates that you get are accurate and not out-of-date.


  • Limited number of lenders: Although Monevo collaborates with a lot of lenders, the selection could be bigger.
  • Not the best for all purposes: Monevo is best used for personal loans, meaning that you could get a better deal elsewhere if you need a different type of loan.
  • You will most likely get solicited: When you agree to share your information when submitting your application, you also agree that your contact information is going to be shared with third-party users.
Monevo logo

Editorial Rating


Is Monevo a direct lender?

Monevo is not a direct lender. Instead, it is a peer-to-peer lending platform that connects borrowers with reputable lenders. Monevo collaborates with over 30 lenders offering their loan terms, so the borrower can choose the option that would work best for them.

Will using Monevo affect my credit?

Yes and no. All of the Monevo reviews confirm that using the platform as such will not affect your credit score. When applying, Monevo will perform a soft credit pull to match you with the appropriate lenders which won’t impact your score. That said, once you are matched, the lender might perform a hard pull on your finances which will impact your credit score.