# Loans (old thread) **URL:** \ **Category:** Monzo Chat\ **Created:** [29 May 2018 20:49 UTC](https://community.monzo.com/t/loans-old-thread/39006 "2018-05-29T20:49:38Z")\ **Posts on this page:** 16\ **Page:** 10
**Author:** ![jwhiterz](https://avatars.discourse-cdn.com/v4/letter/j/c68b51/32.png) [@jwhiterz](https://community.monzo.com/u/jwhiterz)\ **Post date:** [4 November 2018 23:25 UTC](https://community.monzo.com/t/loans-old-thread/39006/185 "2018-11-04T23:25:19Z")
It’s on a slow rollout / trial. Hopefully it will be opened up to more people in the near future. ---
**Author:** ![DanF508](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/danf508/32/101023_2.png) [@DanF508](https://community.monzo.com/u/DanF508)\ **Post date:** [11 November 2018 21:44 UTC](https://community.monzo.com/t/loans-old-thread/39006/186 "2018-11-11T21:44:59Z")
Is there a reason upcoming loan payments don’t appear in committed spending on summary? Would make it much easier to budget 💷 ---
**Author:** ![jwhiterz](https://avatars.discourse-cdn.com/v4/letter/j/c68b51/32.png) [@jwhiterz](https://community.monzo.com/u/jwhiterz)\ **Post date:** [11 November 2018 21:52 UTC](https://community.monzo.com/t/loans-old-thread/39006/187 "2018-11-11T21:52:41Z")
I can see why they shouldn’t. Maybe it will show up after the first payment? ---
**Author:** ![DanF508](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/danf508/32/101023_2.png) [@DanF508](https://community.monzo.com/u/DanF508)\ **Post date:** [11 November 2018 22:06 UTC](https://community.monzo.com/t/loans-old-thread/39006/188 "2018-11-11T22:06:39Z")
first payment was today, I’ll find out next summary reset 👍 ---
**Author:** ![Feathers](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/feathers/32/45868_2.png) [@Feathers](https://community.monzo.com/u/Feathers)\ **Post date:** [12 November 2018 13:31 UTC](https://community.monzo.com/t/loans-old-thread/39006/189 "2018-11-12T13:31:14Z")
> [@theshillito](#): > > Thank you. So interest is calculated daily, but added to the balance owed monthly. If you wanted to pay it all off immediately, before the first month’s installment, I could pay it all off without interest? The way I read it is that the interest will be accrued and either: a) added to your payment at the time you pay it off (if you contact them and ask to close the loan) or b) the loan will remain open and the interest will appear in the balance after a month as usual at which point it will earn interest etc. I don’t see a way in what’s written to pay no interest. (Yes, I know this was a couple of weeks ago, I’ve been slow at reading) ---
**Author:** ![garete](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/garete/32/3947_2.png) [@garete](https://community.monzo.com/u/garete)\ **Post date:** [28 November 2018 09:34 UTC](https://community.monzo.com/t/loans-old-thread/39006/190 "2018-11-28T09:34:04Z")
Loans has appeared for me, so here’s my feedback, though not taking one out (for now): - Payment on the 7th vs 8th changed interest because of the start payment month (Dec/Jan): is this because you wait X days or a static thing? Maybe this is something you’d want to highlight - a line on the date picker scroller perhaps - Representative APR is good for comparing products, but gotta say I saw £x interest for 12 months and y% APR and wondered why the two didn’t add up for a bit. Not sure whether some more text (Representative APR, based on …) or maybe a link to a blog post might help. - If I make an early repayment, do you still take the normal payment of that month? Say if I set repayments for the 10th but want to pay back once I see my wage come in (on the 6-8th) ---
**Author:** ![neovo](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/neovo/32/33453_2.png) [@neovo](https://community.monzo.com/u/neovo)\ **Post date:** [29 November 2018 11:10 UTC](https://community.monzo.com/t/loans-old-thread/39006/191 "2018-11-29T11:10:58Z")
It would be great to get some insight into loan eligibility criteria I’ve got a 1k overdraft authorised with Monzo but haven’t been accepted for loans ---
**Author:** ![theshillito](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theshillito/32/15218_2.png) [@theshillito](https://community.monzo.com/u/theshillito)\ **Post date:** [29 November 2018 11:16 UTC](https://community.monzo.com/t/loans-old-thread/39006/192 "2018-11-29T11:16:01Z")
My experience with credit is that companies will not reveal their lending critera to avoid it being easier to compete with them ☹ Getting rejected for the iPhone Upgrade Programme twice and Barclays refusing to explain why certainly hasn’t helped things -\_- ---
**Author:** ![neovo](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/neovo/32/33453_2.png) [@neovo](https://community.monzo.com/u/neovo)\ **Post date:** [29 November 2018 11:25 UTC](https://community.monzo.com/t/loans-old-thread/39006/193 "2018-11-29T11:25:10Z")
Yeah suppose so 🤷‍♂️ ---
**Author:** ![tomguthrie](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/tomguthrie/32/46311_2.png) [@tomguthrie](https://community.monzo.com/u/tomguthrie)\ **Post date:** [29 November 2018 12:00 UTC](https://community.monzo.com/t/loans-old-thread/39006/194 "2018-11-29T12:00:11Z")
Do we know that’s its actually been rolled out to everyone yet? ---
**Author:** ![jwhiterz](https://avatars.discourse-cdn.com/v4/letter/j/c68b51/32.png) [@jwhiterz](https://community.monzo.com/u/jwhiterz)\ **Post date:** [29 November 2018 12:07 UTC](https://community.monzo.com/t/loans-old-thread/39006/195 "2018-11-29T12:07:44Z")
I’ve been able to apply for a monzo overdraft for a number of months now, but the ability to get a loan only appeared this week. Seems it’s still being rolled out. ---
**Author:** ![Investor\_No1](https://avatars.discourse-cdn.com/v4/letter/i/d9b06d/32.png) [@Investor\_No1](https://community.monzo.com/u/Investor_No1)\ **Post date:** [4 December 2018 10:25 UTC](https://community.monzo.com/t/loans-old-thread/39006/196 "2018-12-04T10:25:30Z")
I have taken out a small loan to see how it works, Took me ages to work out how to find the “where to apply” page eg “just swipe left” You need to make it clear that’s all you have to do to find the load application screen. I bet loads of people have been notified about loans but have not done anything about it as it not easy to find ---
**Author:** ![jwhiterz](https://avatars.discourse-cdn.com/v4/letter/j/c68b51/32.png) [@jwhiterz](https://community.monzo.com/u/jwhiterz)\ **Post date:** [4 December 2018 11:29 UTC](https://community.monzo.com/t/loans-old-thread/39006/197 "2018-12-04T11:29:45Z")
Hopefully these improvements will help: > ---
**Author:** ![Sita](https://avatars.discourse-cdn.com/v4/letter/s/439d5e/32.png) [@Sita](https://community.monzo.com/u/Sita)\ **Post date:** [4 December 2018 16:35 UTC](https://community.monzo.com/t/loans-old-thread/39006/198 "2018-12-04T16:35:06Z")
Why I had the option to have a loan last week and now I can’t find it? Where is it? ---
**Author:** ![cookywook](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/cookywook/32/24136_2.png) [@cookywook](https://community.monzo.com/u/cookywook)\ **Post date:** [19 December 2018 10:30 UTC](https://community.monzo.com/t/loans-old-thread/39006/199 "2018-12-19T10:30:50Z")
Hey everyone! 👋 We’ve got an update for you on what we’re doing with Loans, which we’ve made a new thread for. You’ll soon also be able to follow along through our in-app Making Monzo. So stay tuned! Head here for the latest: > [@Loans](https://community.monzo.com/t/loans/55689): > > Improving the way you repay loans We’ve been [testing loans](https://monzo.com/blog/2018/11/20/why-we-are-lending/) with a few hundred people, and we’ve already got lots of useful feedback. We’ve been using it to improve the experience if you want to repay your loan early. If you start testing loans now, you’ll see the improvements already. We’ve made early repayments more flexible In the first version of loans, when you made an early repayment we took it off the end of your loan. So you’d still have to make your upcoming payments as usual, we’d ju… ---
**Author:** ![cookywook](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/cookywook/32/24136_2.png) [@cookywook](https://community.monzo.com/u/cookywook)\ **Post date:** [19 December 2018 10:31 UTC](https://community.monzo.com/t/loans-old-thread/39006/200 "2018-12-19T10:31:07Z")
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