We've brought back personal loans up to £15,000! 🎉

We’re proud that 92% of loan customers told us they’d choose a loan from Monzo again. We listened to your feedback on loan eligibility and have been working hard to improve how we verify your income among other things.

We paused loans over £3,000 during the last 12 months so we could concentrate on supporting customers already borrowing from us, especially those who were struggling financially. We’ve also rebuilt and improved some of our lending systems.

So what’s changed?

:moneybag: If you’re eligible, we can again offer you between £200 and £15,000, for up to 60 months

:control_knobs: If you’re eligible, our representative APR is 7.5% for loans of £7,000-£15,000 and 25.3% for loans up to £7,000. Remember, we’ll tell you the exact interest rate you’ll pay (and what that means in pounds) before you apply, so there’s no surprises.

:mag: We’ve also improved the ways we assess your eligibility so that we can offer loans to as many customers as possible while staying responsible and sticking to our lending principles.

:construction: If you’re still not eligible we’ve got some clearer explanations as to why that might be (remember we can’t always give you the full detail on why we can’t lend to you).

Explore our loans - if you want to have a look around, or check if you’re eligible.

Got some feedback? Let us know below!


This has definitely changed things. Have never been eligible before but now am up to £15k.

No need but nice to know the option’s there.


Great to hear! You may yet become one of the 92% :wink:


Wow mine has gone up too. From £2k to £13.5k :partying_face:


15k offered at 4.6% , not bad Monzo. Cheers


I’ve just looked and I can only get this over 60 months. The slider won’t allow me to select any other term.

Is this an eligibility / affordability criteria?

:wave: What happens when you reduce the amount?

I tried it at £500 intervals and only below £11k do I get the option of 48 or 60 months.

I can see going lower still opens up the range further. So I was just curious if this is score related or are all loans at the higher end of the scale forced to be taken over 60 months.

This is to make sure the monthly payments are affordable. The larger the amount the less likely the repayments will be affordable over shorter term lengths.

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Thanks @AdamLittle :slight_smile: I understand that part but my question was if it’s related to my affordability (i.e. If my salary or score increases it will allow a shorter term) or is that something that you’ve applied to everyone so that you can offer it to more people.

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Or to attract more interest :thinking:


If I press the see how much I can get button - will this effect my credit score?
I’m just curious to see what they’ll offer

No it says that on the screen :smiley:

As part of being a responsible lender, we calculate a monthly affordable amount based on your income and expenditure, to ensure that the loan is affordable. That amount will be calculated for everyone but will be bespoke to you and what we’ve calculated your income and expenditure to be.

Without being too specific, an increase in your income will improve your affordability but there is also a limit to how much we’ll allow customers to borrow for certain term lengths.

For some customers this may mean that we don’t lend to them at all, for others this may mean that we only give them a loan with a high monthly payment - as long as it’s considered affordable.


Your credit score is only affected when you click through to apply, checking the sum doesn’t affect it to my understanding.

This would exactly stop me from ever contemplating Monzo for a loan in the future. I’m an adult and as such I know what I can and can’t afford to pay back on a monthly basis. I wouldn’t ever allow a bank to dictate those terms to me.

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Thanks again @AdamLittle I was just curious since it’s end of year and salary review time :wink:

This is what I was asking but I guess you can’t answer that directly so I’ll just review it again next month or if someone on here can state they’re allowed over £13k on a shorter term I’ll have my answer.

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You can always overpay and pay what you want – we don’t charge any early repayment fee.

You can’t underpay though so when we issue a loan the contractual term length must be one that passes our affordability checks.


Ahhh thanks -
I couldn’t see anything where it says it doesn’t

I’m eligible for that amount over 24 months.

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