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Monevo Review

Reviews 44
Monevo
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Monevo
Monevo
Excellent
Reviews 44
Sarah Pritzker
Mar. 22, 2022
2 min read
Sarah Pritzker
Monevo Summary
Monevo is an online lending marketplace with direct access to hundreds of loan companies around the world. Access to real-time responses from lenders and loan brokers for accurate and reliable replies in just 60 seconds. The free service usually leads borrowers to the lowest rate option. Monevo shares your details securely with various active lenders without affecting your credit rating.

Pros

  • Transparent loan comparison table
  • Easy step-by-step application process
  • Up to day lending information

Cons

  • No further FAQs for more information
  • Not a direct lender

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Monevo Review

Suitable For?

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 and favorable 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 many 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 right loan much more transparent. Monevo users begin receiving loan offers within 60 seconds, 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
  • Fast response time
  • No fee
  • Transparent loan comparison table

The Application Process

Monevo’s application process is streamlined and 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 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. Monevo also runs a ‘soft’ credit check on you to verify your identity and see your approximate credit rating. This doesn't affect your credit score the way a ‘hard’ credit check does.

After just 60 seconds, 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.

Repayment Terms

Since Monevo is a loan aggregator, the repayment terms vary between different providers. The minimum term is 12 months, but the maximum term is 144 months or 12 years.

Privacy & Security

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.

Summary

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

Physical Address

169 Saxony Rd, STE 212

Encinitas, CA

92024

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Sarah Pritzker
Written by
Sarah Pritzker
Sarah Pritzker is a content writer with years of experience and a keen interest in the vast world of online consumer products. She enjoys helping readers make sense of the options on the market in financial industries including credit reports, business loans and car loans. She writes for BestMoney and enjoys helping readers make sense of the options on the market.
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Trustpilot reviews
See what some customers are saying about Monevo
Excellent • Reviews 44
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Excellent
89%
Great
0%
Average
0%
Poor
0%
Bad
11%
DW
Donald Wallen
2 years ago
Mommy me you guys are awesome and nobody else would do it but you did it and I deeply appreciat it and once again thank you very much God bless thank you very much
Mommy and me was you guys was awesome thanks for the long I do appreciate it and I hope you guys do a lot more business because you're the only ones that helped me and I will not forget that thank you very much have a wonderful day take care your customers don't want to get along from these guys are very good thank you very much again bye-bye
CL
Carlos Lugo
2 years ago
Very easy to use
Very easy to use. Fast response to the service requested. Good interest rate and time to pay back your loan.
JK
Jim Kinsey
2 years ago
Great experience!
Great experience… fast and funded in a couple days! Thank you.
RC
Roy Chandler
2 years ago
Smooth and swift transaction
Smooth and swift transaction! Everything as stated! Life saver!
JS
Jeffrey Sisk
2 years ago
A very seemless and pleasant…
A very seemless and pleasant experience. Lots of choices of lenders. Great job.
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