Who are Monevo?

Monevo is a trading name of Monevo Inc. They offer short-term loans to UK residents who are employed. Monevo Inc were founded in 2009.

How much can I borrow from them?

Monevo offer loans between £1,000 to £25,000, subject to eligibility. Existing customers may be able to borrow more on subsequent applications.

How long can I take to repay a loan?

You’ve got between three and sixty months to pay back your loan. They do not offer loans over a period of less than three months.

How do I apply for a loan with Monevo?

All applications are made online, there is no phone number you can call to apply via telephone. You’ll need all the usual details: name, address, telephone number, and information to determine affordability (number of dependants, monthly outgoings, etc.)

Once you have filled in the online application, they will perform a credit check and advise you whether they are willing to offer you a loan or not. If you are tired of filling in application forms with lots of lenders, only to be rejected, try our service – we’ll search dozens of lenders in one application. Click here to apply now.

What requirements or criteria do I have to meet?

Monevo require you to be over 18, be a UK resident and have some form of regular employment. You must also have a valid debit card that is linked to the bank account where the loan will be deposited, and an active mobile number. They do not accept people who have had CCJs against them in the last three years.

How long does it take to receive my loan from Monevo?

They say that your loan could be in your bank account in under an day. However, there may be some delays depending on who you hold your bank account with.

What are the interest rates and charges?

The amount of interest charged depends on your individual circumstances. There is no charge for applying, but if you get rejected you’ll have to find another lender. Or, you could apply with us, and we’ll check dozens of lenders for you in one application. Click here for more information.

What would monthly repayments look like?

A representative APR of 49.3% on a £2,000 loan over twelve months would cost you £2,772.97 in total. Month 1-11: £231.08; month 12: £231.09.

Am I credit checked when I apply with Monevo?

Yes. They will perform credit checks to determine eligibility.

What penalties or fees are there for late repayment?

Penalty fees are dependent upon the loan offer!

Can I repay my loan early?

Yes you can. Repaying early does not come with any penalty, and will reduce the interest and therefore, the total amount repayable. Repaying early is a smart way to reduce the overall cost of a loan.

Are there any online reviews of Monevo that I can read?

Yes! They have a Trustpilot score of 5.4 out of 10 as of August 2018.

What’s their FCA registration information.

Their parent company’s FCA Registration Number is 791721.

Why choose Loanline instead?

Loanline are broker and not a lender. Instead of filling in lots of application forms with multiple lenders, we ask you to fill in just one form with us, and we’ll help you find a lender that will lend to you, free of charge! Sound good? Head over to our application form and get started today!

How do I contact Monevo?

For customer service, email enquiries@monevo.com.