Monzo support …

Monzo support is … really. No words. Asked a simple question about loans. What is the lowest APR for £7500 loan Monzo can offer and got a reply 6 hours later…


Don’t you just go to the apply for a loan page and it gives you your APR if you’re eligible?

5 Likes

Yeah legacy banks would struggle to answer this too via telephony.

This is personalised APR… but what is the lowest they can offer ?

What does it matter? Your rate is as low as you’ll get.

5 Likes

Monzo offers personal loans with varying APRs depending on the loan amount. For loans over £10,000 up to £25,000, Monzo provides a representative APR of 14.8%. However, for loans below £10,000, the representative APR is significantly higher at 25.4%​ (finder.com)​​ (Monzo)​.

2 Likes

This is not accurate…

How is this not Accurate? It’s legit on their site. They are not going to tell you the lowest they will offer. You are offered the best rate for you and thats the only rate they are going to offer you.

9 Likes

Look in the app then if you want an accurate rate :see_no_evil:

5 Likes

All legacy banks shows the lowest APR on their websites… Nationwide 6.4 for example

Knowing this rate is going to help you how?

6 Likes

I think the OP got the attention they were seeking, but it seems to have backfired :sweat_smile:

9 Likes

You asked an irrelevant question, got a sensible answer and then had a tantrum about it. Cool.

7 Likes

All questions was answered by a nice guy from Financial team. I created this post early. You guys are right.

1 Like

does it not tell you in app when you go to the loan section what the APR is?

That’s what I did. And it doesn’t affect your credit score.