Get a loan that treats you right
Ditch hidden fees, confusing terms and waiting around. Achieve your goals and feel in control with a Monzo loan.
Monzo Current Account required • UK residents aged 18+ • Eligibility criteria and Ts&Cs apply • Missed payments may negatively impact credit scores.
Our representative APR for loans of more than £10,000 and up to £25,000 is 10.8% APR. For loans up to £10,000 it’s 20.5% APR.
Quick and simple
There’s no waiting around. If approved, you'll have the money in your account in minutes.
All in one app
Choose your repayment date that works best for you. See your remaining balance at a glance, alongside your pots.
Fairer - no fees
Make your repayments early or pay extra whenever you want, with no fees. We don’t charge late fees either.
You're in control
Choose how much you want to borrow and for how long. See at a glance what you’ve paid, how much is left to pay, and how much it costs.
Choose a repayment date that suits you, and change it if you need to (there's no fee!). If you need to change it more than once you can with no fee, you'll just need to get in touch.
Representative example: Borrowing £5,000, over 36 months, with 35 monthly repayments of £185.00 and one final payment of £75.88, at a simple annual interest rate of 18.9% (fixed), with a representative 20.5% APR, the total amount you'll repay is £6,550.88. Correct as at 29/10/24.
Expect more from your loan
It's your loan so you shouldn’t have to jump through hoops to use it. Want to make your monthly repayment early or pay off a little extra? No problem. You can do it straight from the app with no fee.
It makes sense that if you pay extra you'll reduce your monthly repayments and the total cost of your loan so that's exactly what happens.
Give your loan a purpose
Whether it's a car loan, a home improvement loan, or to bring all your monthly payments into one place, give it a name and add an image of your choice.
Your loan sits alongside your pots, so it’s easy to see the progress you're making at a glance.
And choose the amount that suits you, up to £25,000.
Consolidating existing debts into a Monzo loan might mean it takes longer to pay off and could cost you more in total than you're paying now. Your current lenders may charge you a fee for repaying early.
Human help, when you need it most
We want you to feel comfortable telling us when something’s wrong (whether that’s struggling with your mental health, losing your job, or something else).
If you need some extra support, we’ll do everything we can to help you get back on track.
The best way to get in touch with us is via in-app chat to discuss your circumstances with a financial difficulties specialist and find out how we can support you. You can also see how we can support with money worries if you experiencing difficulties.
We also provide tips on managing your loans and your debt in the loans help section on our blog.