Maximum loan and overdraft increases

Just noticed in the loans section I’m now eligible to borrow up to £25k for an unsecured loan. Also, I’m eligible to increase my overdraft to £2k. Monzo Flex is still only at the original £3k approved level though with no option to increase.

Is this new, I thought maximum borrowing was £15k and £1k for loans and overdrafts respectively before?

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I’m jealous you have the option to have Monzo flex up to £3k there

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Monzo Flex I think is £5,000.

Loans are now up to £25,000.

Overdrafts for new customers up to £1,000, and then a further potential increase to £2,000 depending on account activity and credit score.

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I have the option to get a £20K loan

I have £1K overdraft

but flex limit is £450…:thinking:


These are based on many factors such as credit score etc.

Flex - if you pay it off, close it, and apply again you may get a different limit and also different rate, though it’s not guaranteed to be accepted again :crossed_fingers:t3:


Great spot! :eyes:

We’re always reviewing our lending products and have recently increased the maximum loan amount to £25,000 and the maximum overdraft limit to £2,000 (this is capped to £500 for new to Monzo customers who can apply for an increase later on, if needed).

The maximum limit for Flex is £6,000 - existing Flex customers will be able to request a higher or lower limit soon :soon:


Oooh. I can get a 25k loan. That’ll be handy with my £3k overdraft & £3k flex :joy:

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Just doubled overdraft from £1000 to £2000. Never used it but might as well have maximum credit available.

Really need to be able to increase Flex above £500 for it be properly useful for me, it’s good to hear this is coming soon.

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You can also pay it off if used, and apply again to see if you’re eligible :nerd_face:

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I can see my possible overdraft limit has gone up to 2k but seeing as it increasing it adds a hard credit search, I decided against.

It’s nice there are increased limits for those who want it.

The higher loan limits are good, although I’ve just taken an interest free card out instead of a loan.

Yesterday for the first time I was eligible for a loan for the first time, Eligible for £5000. Today I upped my overdraft from the £1000 limit to £1500, I could have gone up to £2000, that limit change on overdraft decreased my loan offer down to £1500, I lowered my overdraft limit to £1000 again and the loan offer went straight back up to £5000, thats a large decrease in loan offer for a relatively small increase in overdraft limit, seems bizarre to me

Have 2k on flex and just increased my overdraft from 1500 to 2000

Nice to have the facility available…
Would like flex to be about 5k before end of year as planning a major holiday next year

The thing that is limited is the maximum monthly repayment, because larger loans are offered over longer terms the monthly repayment isn’t that much higher than the smaller loans. So a small reduction in maximum monthly repayment can have a large impact on maximum loan eligible.

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I’m having trouble here recently, about 1 month ago I was cleared for 25k loan, then I came back a few weeks later & was told the maximum I could now receive was 15k & now a few weeks later after shopping around I’m told I’m not eligible due to me not meeting the criteria, due to income & outgoings?

I explained that I only pay myself from my business account (with Monzo) what I need to live on per month and leave the rest in the business so not to be tempted to spend it all needlessly, also I have plenty of savings in a Monzo joint account.

Can anyone help as they won’t provide me any other info which is making me think that this is due to the market conditions?

[Edit; I previously had a small 2k Monzo loan that I repaid early with no problems]

Loan amounts change for myself all the time and have heard others say the same, check back next week could be totally different.

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That’s the thing one day you can be eligible the next your not, whilst shopping around did you have any hard searches done?

No one can help though tbf, it is what it is

Just out of interest, last week was 6k for me, 8k this week.

Eligibility changes month to month unfortunately.

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