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finder.com’s rating: 4.4 / 5.0
★★★★★
Bottom line: Monevo is an award-winning connection service that works with a wide variety of top lenders. But like any connection service, you may receive marketing emails and calls long after you borrow a loan. Read our full review.
Min. Loan Amount | $500 |
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Max. Loan Amount | $100,000 |
APR | 1.99% to 35.99% |
Interest Rate Type | Fixed |
Min. Credit Score | None |
Late Fee | $0 |
Loan Term | 6 months to 12 years |
Turnaround Time | Varies by lender |
Monevo doesn’t charge any fees to connect you with a lender. Its partners offer rates that run from 1.99% to 35.99%. In some cases, the APR might include an origination fee. Lenders offer a wide range of loan amounts, from $500 to $100,000 with terms of three months to 12 years.
Not all lenders will offer the lowest rate or large loan amounts. To qualify for these, you will need a credit score close to 850 and enough room in your income to comfortably afford repayments. You can use our calculator to estimate your monthly payment at different rates and terms.
Monevo also connects borrowers with lenders that offer auto loans, including:
There is no separate process or information about Monevo's car loan options. When you fill out its online form, select one of these as your loan purpose. Like its personal loans, you will be able to see the lenders you prequalify for and continue with a full application after you compare offers.
If you’re looking to start or expand your business through a personal loan, Monevo may be able to help. While it doesn’t specifically partner with business lenders or banks, some of the lenders in its network allow you to use your loan funds for business-related expenses. Select Business as your loan purpose when you fill out Monevo’s online form to see the lenders you might qualify for.
Calculate how much you could expect to pay each month
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Total Cost | $ |
Monevo personal loans | Fiona personal loans | Credible personal loans |
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★★★★★ | ★★★★★ | ★★★★★ |
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APR 1.99% to 35.99% | APR 4.75% to 35.99% | APR 3.99% to 35.99% |
Loan Term 6 months to 12 years | Loan Term 2 to 7 years | Loan Term 2 to 7 years |
Loan Amount $500 to $100,000 | Loan Amount $250 to $250,000 | Loan Amount $600 to $100,000 |
Min. Credit Score None | Min. Credit Score Poor | Min. Credit Score Fair to excellent credit |
Compare even more personal loans
BBB accredited | Yes |
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BBB rating | A+ |
BBB customer reviews | 1 out of 5 stars, based on 1 customer reviews |
Trustpilot Score | 4.4 out of 5 stars, based on 10 customer reviews |
Customer reviews verified as of | 05 May 2021 |
Monevo doesn’t have many reviews, which isn’t uncommon for a connection service. Details about complaints against the company aren’t available, but the most recent customer review states that they received a high volume of marketing emails.
If you choose to use Monevo, check the lender’s BBB and Trustpilot pages to see how other borrowers rated their experience.
To be connected with one of the lenders in Monevo’s network, you must meet the following criteria:
Monevo requires you to submit basic personal information about yourself, like your Social Security number and contact information. It uses these personal details to narrow down your selection of lenders and find one that will match your financial needs. It should only take a few minutes to fill out the online form and be connected with a lender.
If approved for a loan, your lender should outline your repayment schedule and any fees you might have to pay in your loan agreement. Be sure to keep in touch with your loan provider if you have questions or notice anything wrong with your account.
Monevo is one of the few connection services that has received awards for its product. But while it works with quite a few top-name lenders, it functions like most connection services out there. However, the fact that you can potentially be connected with a lender with a credit score as low as 450 is unique — most connection services won’t work with scores lower than 500.
Yes, Monevo is a legitimate connection service and has won several awards along with other companies owned by its parent company, Quint. These include:
Its site includes an SSL-encryption certificate from GeoTrust, using 256-bit encryption to protect your information. But while Monevo vets partner lenders, there’s only so much it can do to protect your information. Using a connection service means you’ll have your data shared with several companies, each with its own terms and privacy policy.
Rather work with a lender directly or want to check out other marketplaces? Compare your options with our guide to personal loans.
Answers to commonly asked questions about Monevo.
How quickly can I get my funds using Monevo?
Some of Monevo’s partners can get your funds to you as fast as the next business day, though it could take a bit longer if you don’t have documentation on hand. You can typically expect to receive your approved funds in your bank account within three to seven days of being approved.
Where is Monevo located?
Monevo is an international company. It operates branches in the US, Australia, China, Poland and the UK, where it’s headquartered.
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.
Read the full methodology of how we rate personal loan providers.
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Monevo is ideal if you’re looking for fast funding and don’t have time for a lot of research. It takes just a few minutes to fill out its online form. And depending on the lender you’re connected with, you could get your funds as soon as the next business day. Its low credit requirement of 450 also makes it a good option if you’re struggling to find a lender because of your credit score.
But as with all connection services, you’re limited to the partners in its network. And don’t be surprised if you’re fielding phone calls and emails from its network of lenders — even after taking out a loan.
Before getting started, compare Monevo to direct lenders and connection services to be sure you’re going with the best option for your needs.