Monevo Review

Michael Dinich

In a Nutshell

Monevo is a huge online lending marketplace with an API that is embedded directly by hundreds of loan companies around the world. This access to real-time responses from lenders and loan brokers enables Monevo to give consumers an accurate and reliable reply in just two minutes. The completely free service usually leads borrowers to the lowest rate option, too.


  • Loans up to $100,000
  • Fill out 1 application for multiple offers
  • Free loan comparison service


  • Does not serve those with very poor credit
  • Not a direct lender

Monevo Monevo Visit Site

Monevo ID Card

Loan Type: Fixed rate unsecured personal loans

Loan Amount: $1,000 to $100,000

Repayment Terms: 3 to 72 months

Best For: Anyone

Best for Whom?

Anyone looking for a loan.

Monevo serves credit score levels from fair to excellent, with a minimum credit score of 580 required. Also, with a top loan amount of $100,000, there’s a good chance that you can find the loan you need.

Loan Features

Monevo uses your information and its large stable of loan providers to find you the lowest APR rate and best repayment conditions. With the whole of the web to search and the hassle of flipping back and forth between different sites to try to compare loans, you probably wouldn’t find such a good deal on your own.

The simple application form is shared with around 50 active lenders. You’ll be able to compare all the replies in a clear table so that you can see the terms and requirements side by side, making the task of finding the best loan much more transparent. Monevo users begin receiving loan offers within two minutes, saving time filling out multiple applications and waiting to hear back from a number of different loan companies.

Highlights for Monevo:

  • Clear, easy to use website
  • Step-by-step application form
  • 50 active lenders at any given time
  • Fast response time
  • No fee
  • Transparent loan comparison table

The Application Process

Monevo’s application process is streamlined and very easy to use. Presented as a step by step form, you’ll choose the amount you want to borrow and the purpose of your loan from the very extensive drop-down list, as well as picking your approximate credit score from a range of options. Then, you’ll need to share your personal details, social security number, and highest level of education, your address and living arrangements, and some information about your employment and income.

It should only take about 60 seconds to complete the form, which Monevo will then share with around 50 active lenders. Monevo also runs a ‘soft’ credit check on you to verify your identity and see your approximate credit rating. This doesn't’t affect your credit score the way a ‘hard’ credit check does.

After just 2 minutes, you’ll begin to get responses from loan companies. The loan details of APR rate, repayment term, and estimated monthly repayment amount will be presented in a table that lets you compare your options in a transparent way. If you like the looks of any offer, click through to see the full details and choose whether you want to continue with that company. You’ll close on the loan on the provider’s website.

Monevo requirements:

  • Permanent residency or citizenship of the United States
  • A checking account in your name
  • You must be aged over 18 years old

Loan Terms

Monevo operates a loan marketplace rather than providing the loans themselves, so it doesn’t offer specific terms. Borrowers should be aware that they need to check the terms and conditions of each loan since they vary widely.

As Monevo reminds users, a preliminary loan offer is not guaranteed. The terms and rates can change even after you get your first responses, so if you find a great rate for the amount you need, you should secure it quickly with the loan provider before anything changes.

Repayment Terms

Since Monevo is a loan aggregator, the repayment terms vary between different providers. The minimum term is 90 days, but the maximum term is 72 months or six years. This isn't the longest repayment option around, but it is certainly well within the average. If you know that you need to spread your payments out further, you might want to look elsewhere.

How Safe is It?

Monevo emphasizes its security levels throughout its website, using the highest level of SSL encryption to protect customer data. It displays plenty of prestigious awards and endorsements, and the Quint group, which is the parent company, is well-known and reliable.

Help & Support

Monevo offers an easy customer service form and phone support in 3 territories, along with a live chat option.

Deep Dive into Pros and Cons

Transparent loan comparison table
No further FAQs
Easy step by step application process

Fast service with 50 lenders

The most up-to-date lender information

High security

After looking into Monevo, we found many positives to its platform and very few negatives:

  • The main drawback is that there is no live chat, only email, and telephone support. If you get confused, the customer care procedure is not as clear as it could be.
  • Although the application process is well explained, there are no FAQs or further information pages which borrowers can consult to understand the process better.

Monevo is a valuable loan aggregator with these particular advantages:

  • Eases complexity of comparing loan options. By condensing all the different loan information into one table showing the APR rate, repayment term, and monthly repayment fees, Monevo makes loan offers more clear.
  • The application process is easy and straightforward and should take only 60 seconds to complete.
  • By sharing your details with around 50 lenders, Monevo saves you time otherwise spent on entering the same information again on another site and returns responses in just two minutes. Some of its lenders can even approve your application and send you money the same day.
  • Because it’s directly connected to the lender company, the information is the most up to date.
  • Monevo uses advanced encryption and new technology to protect your data and keep you secure online.

Monevo Monevo Visit Site


Monevo is a reputable loan marketplace that connects directly with millions of loan providers worldwide to bring the most up to date personal loan offers from up to 50 lenders. It is usually successful in returning the lowest loan rate, but the customer service and FAQ guidance still need improvement.

Physical Address

8910 University Center Lane Suite 400

Suite 300

San Diego, CA


Michael has worked in personal finance since 1999. He shares unique insights on how to save money, increase income and prepare for retirement. Michael is a sought-after expert in the areas of taxation, personal finance, and health insurance planning.

Monevo customer reviews

Based on 14 reviews

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25 Jan 2021

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Top Reviews

Ana, NY
a year ago

Ease of use

Brand satisfaction

Value for money

Service quality

In comparison to other brands it's great. I like everything about it. Monevo did exceed my expectations this is something that other brands were not able to do.

Alice, GA
a year ago

It's a great and easy loan to obtain. I recommend it to friends and family. I love it a lot.

Molly, OH
a year ago

They were insightful, and helpful, and informational, gave an abundance amount of help throughout the whole process from start to finish.

Gab, PA
a year ago

Monevo is so reliable and easy to use. It has wonderful customer satisfaction and they are available 24/7.

Renee, AR
a year ago

I like the commitment to good customer service and they really try to help me when I had any problems with anything.

Jessica, MO
a year ago

I have always had issues with this company since day one. Every time I call they put me on hold and I have to always call them back. And then they take my number just Incase we got disconnected again and when we do they never call me back.

Gilbert, CA
a year ago

Good service with great customer service. Look forward to working with them. Had what I needed and fees were fair.

Neil, IL
a year ago

There is nothing that I really dislike regarding the brand, overall they do a really nice job.

a year ago

Not user friendly! Tried to teach it to my mom and she wasn't able to catch on. Perhaps making the font larger for all audience types.

Esperanza, FL
a year ago

It's not a bad it okay I just wouldn't use it because I prefer something else but it's good it's not bad ill use it someday in life and many people as well

Jennifer, TN
a year ago

They aren't low rate loans and the advertising leads you to believe they can get you qualified no matter the circumstances which isn't true. It's not exactly hard to use their product and the website is built so it is pleasing to the eye.

a year ago

I like the fact that the loan was easy to get I don't like the fact of the high interest that is charged and the lack of direction in communication with what you're getting yourself into

Shay, WV
a year ago

It is a good service and was easy enough to use. It is an average loan service and I would recommend it to a friend.

Andrea, OR
a year ago

The whole thing seemed like a big scam. Super high interest rates just to take advantage of people that are already struggling.

14 reviews