By Jalluri, Last Updated:
June, 15, 2021
A Platform for Finding Personal Loans
Average Rating: 4
Monevo first started operating in the UK in 2009, but over the years, it spread to the US, Australia, and Poland.
The platform compares personal loans and powers a marketplace that connects over 100 banks and lenders worldwide to customers who want to take out credit.
Monevo’s platform is for consumers looking for the best loans out there in one fast search.
In this Monevo application process review, we’ll go over:
After reading our review, you’ll be better equipped to decide whether Monevo is the right choice for you.
There’s no need to worry about Monevo lenders’ credibility. You can confirm that yourself by checking out Monevo BBB reviews and reading what other people have to say about the platform.
To make sure you are eligible for a loan, you have to meet the requirements below:
As we’ve pointed out earlier, finding a loan through Monevo takes only a minute. The same can’t be said for brick-and-mortar banks and credit unions. The entire process of applying for a loan is described below:
Credible and Even Financial are Monevo’s main competitors in this market. They both have straightforward application processes, but unlike Monevo, they have an educational blog where borrowers can ask questions about personal loan offers.
When it comes to the protection and privacy of your personal information, Monevo’s got you covered. Lenders only have the right to look at the info you entered in the platform, which Monevo needs to match you with the best secured personal loans.
Your personal data is protected with an SSL certificate and 256-bit encryption. To put this question to rest, we also went over Monevo financial reviews by users and didn’t find any who report having privacy or security issues.
When applying for an unsecured loan with Monevo, you don’t need to put anything as collateral, which is a huge plus. Whatever your credit score, you’ll be able to apply for personal loans and have many lenders to choose from. Besides, Monevo interest rates are relatively affordable.
The many positive Monevo reviews and the fact that you can choose the lender that best suits you are signs that the platform is an excellent choice for anybody looking to apply for a personal loan.
The high Monevo rating on a number of review sites and services also points to the platform’s usefulness and reliability. If you need a personal loan and value having a stress-free application process, Monevo may be a great fit for you.
Can I refinance my personal loan?
Yes, you can refinance your loan. To do that, you can explore personal loan providers, such as banks, peer-to-peer lenders, or other online direct lenders.
Beware that the point of getting another loan is to lower your interest rate and get rid of your credit faster and not to get further into debt.
What can I use Monevo personal loans for?
If you take a look at Monevo customer reviews, you’ll notice that borrowers have many different reasons for taking out loans.
With Monevo, you can contribute to your college loans to cover any extra costs. Vacations, weddings, or even cosmetic surgeries are other common reasons people apply for a loan through Monevo.
Some people also look for a Monevo personal loan for bad credit, as the variety of lenders on the platform serve customers with any credit history.
Who is Monevo personal loan best for?
As reported by many Monevo personal loan reviews, this service is for anybody who wishes to save time when applying for a loan because traditional loan institutions have a lengthy application process.
But be sure to find the lender with the best possible terms for you. You’ll likely have plenty of options, so there’s no need to rush into a decision.
Can I get a personal loan online?
Yes, you can obtain a personal loan online. Once you decide to look for credit through Monevo, you need to determine what kind of loan you need. There are short-term loans, payday loans, secured personal loans, and unsecured personal loans.
After you choose a loan, you have to make sure the interest rate is affordable, so you’re able to make the monthly payment on time.
What is Monevo’s BBB rating? Is it accredited?
Yes, Monevo is accredited by the Better Business Bureau (BBB). There are many positive Monevo reviews on BBB, and the platform’s overall score is ‘A’.
This means that Monevo abides by values such as integrity, honesty, transparency, and trustworthiness.
$500 – $100,000
1.99% – 35.99%
1 – 10 Years
Mobile app, customer service via phone, no origination fee