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Monevo Review

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Reviews 10

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Sarah Pritzker
Sarah Pritzker
May. 04, 20214 min read

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 2 minutes. 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
Monevoat a glance
4.0

Editorial score

Variety of loan types

Offers all loan types

5.0

Online experience

Online application but no learning resources

3.0

Customer services and support

Limited ways of reaching lender

2.0

Loan amount range

Loan amount $50K+

5.0

Repayment flexibility

Loan terms 60 months+

5.0

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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 2 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
  • 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 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.

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

8910 University Center Lane Suite 400

San Diego, CA

92122

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Sarah Pritzker
Written bySarah 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.

Monevo
Monevo
ExcellentReviews 10
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  • author
    James Tobin
    Jan 22, 2021
    Very easy

    Very easy, very fast and professional.

    ...

  • author
    Anthony Norris
    Jan 02, 2021
    Application process was seamless

    Application process was seamless. Funding was immediate after verification.

    ...

  • author
    John S
    Dec 31, 2020
    Couldn’t have been easier

    Couldn’t have been easier

    ...

  • author
    Tiffannie Pannell
    Dec 31, 2020
    Ryan was awesome

    Ryan was awesome

    ...

  • author
    Mark Renkert
    Dec 15, 2020
    Quick Awesome service

    Quick, fast and quick approval

    ...

  • author
    L Dudley
    Dec 15, 2020
    Quick and easy!!

    Quick and easy!!

    ...

  • author
    Eduardo Fernandez
    Dec 13, 2020
    excellent experience

    excellent experience, very smooth sailing

    ...

  • author
    John Braun
    Dec 12, 2020
    Monevo was very helpful in assisting…

    Monevo was very helpful in assisting with my obtaining a personal loan. They are prompt and professional. They follow up to make sure the process is going well for you.

    ...

  • author
    A Martin
    Dec 12, 2020
    Super duper

    Super duper! Got instant offers, application completed right away, signed and that was it the following day!

    ...

  • author
    Jacqueline Hayman
    Nov 20, 2020
    Vey good service

    Vey good service

    ...

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    • About Us
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      comparison features to our visitors. We accept advertising compensation

      from companies that appear on the site, which impacts the location and

      order in which brands (and/or their products) are presented, and also

      impacts the score that is assigned to it. Company listings on this page

      DO NOT imply endorsement. We do not feature all providers on the market.

      Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented

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