Flex up to 12 months interest free

We should have Monzo flex interest free up to 12 month which helps with bigger purchases.

Monzo makes very little to no money off these so it’s not financially viable.


Personally, I think this would be a great idea and it would fit much more inline with other banks that offer 12 months / 18 months / 24 months interest free purchases.

I think now, I’ll likely just stay with monzo for all larger purchases for interest free - would be much more amazing if it was 12 months.

It won’t happen. Monzo are not trying to compete with traditional credit cards that give so many months to repay the total balance before paying interest.

I think the rather than 12 months being free, they could look to match say virgin slyce.Which is 6 months free in the installment plans, although how sustainable that is long term i don’t know.

Considering they did a 6 month bonus last year and haven’t done it again, 12 months interest free seems incredibly unlikely.


Monzo aren’t a charity. They don’t want to give you even more interest free time to pay, they want you to run out of time to pay things back and have you increase the loan term to 3+ months so they actually make some money off you.


This sounds like you’re comparing it with the credit cards offered by banks. Those are different since there’s a higher chance that at the end of the interest-free period, the customer will still have a balance and interest will be charged. The customer only has to pay the minimum payment which in most cases won’t bring the balance down to zero.

With Flex on the other hand, as it’s an instalment plan, the balance will be zero at the end of the period. The only way interest could be charged is if the customer extends the plan and I’d imagine that’s something they experimented with last time around to see if customers would do it.

The offer was a great way to get people onto Flex, but I’d imagine it would end up costing them money long-term if customers came to expect a winter interest-free offer and held off their larger purchases that would have otherwise accrued interest charges until the offer was live each year.


Indeed. A well written post as to why flex is not likely to do 12 months interest free ala a normal card.

That said, and I can appreciate why Monzo might not do this, but it would be cool to see as an option to encourage more transfers from other providers/new signups over time.

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