Understanding interest rates for Monzo Flex

When you apply for Flex, if you’re eligible we’ll tell you your personalised interest rate and credit limit.

If you’ve already got Flex, you can find out your personalised interest rate and offer in your app.

APR stands for Annual Percentage Rate

It tells you the rate of interest you'll pay on an annual basis including any fees, like hidden or late fees – but we don’t charge these.

'Variable' means we have the right to change this interest rate

We'll always give you notice if we plan to and we won't change your interest rate on any purchases you’ve already made.

'Representative' means that more than half of customers will have this interest rate

This might not be the rate you get. We’ll always tell you the exact rate you’ll pay before you borrow from us.

We'll offer a rate based on an assessment of your circumstances, taking into account your credit history and finances.