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Monzo Loans
Options
Credit_Struggle
Posts: 82 Forumite
in Loans
Has anyone seen this feature active on there Monzo app?
If so be very careful, I had it and was just playing around to see what rates I could be offered and before I knew it I have £15,000 in my Monzo account.
Lightning quick. I now need to contact Monzo to cancel the loan.
Great rate offered though!
If so be very careful, I had it and was just playing around to see what rates I could be offered and before I knew it I have £15,000 in my Monzo account.
Lightning quick. I now need to contact Monzo to cancel the loan.
Great rate offered though!
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Comments
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I just went on to my Monzo app to see if I could also accidentally be accepted for a £15,000 loan but apparently it is being rolled out so only available to certain people for now.
What is the rate?0 -
3.8% doesn’t seem to bad. My partner also says the same that it’s still being rolled out and to wait for updates0
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They also do instant repayment / overpayments all very smooth!0
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Good information, I too have the option. What it doesn’t say though is the interest rate you will be accepted for. Where did you see this? It has a slider I guess it’s only showing one rate and that’s the rate your approved for?
Doesn’t ask much on the application either as far as I can tell, just if your employed, not where though and how much you earn0 -
They offered me 3.7% on 15k. Must depend on certain things.
Cheap rate but I get cheaper At HSBC if I need a loan.0 -
To be honest I’ve only had a credit file for less than a year, so all in all I think on my circumstances that’s an excellent rate and not bad for a new company offering loans0
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Yes I agree the rate isn’t bad. Shows me 3.4%0
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Wonder if they still only search call credit for this0
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Credit_Struggle wrote: »Has anyone seen this feature active on there Monzo app?
If so be very careful, I had it and was just playing around to see what rates I could be offered and before I knew it I have £15,000 in my Monzo account.
Lightning quick. I now need to contact Monzo to cancel the loan.
Great rate offered though!
They put £15000 in your account without you e-signing all the pre-contract paperwork that you have to have by law?0 -
Must of been pre contract0
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