Is Monzi Loans Legit? Yes! Apply For Cash Loans From $300 To $10,000

So, you’re wondering, is Monzi Loans legit? While you’ve seen the ads and have read reviews, you’re not yet convinced. That’s OK. That’s why we’re here to dispel any doubt that you may have. In short, we can promise you that Monzi Loans is a legitimate organisation who may offer a lender-finder service that can help you when you’re in a bind. Read on to learn more.

Monzi Loans: who are we?

First things first, we can confirm that Monzi Loans is legit. In short, we’re a lender-finder service based in beautiful Brisbane. Moreover, our organisation is run by everyday Aussies just like you. So, while we may be 100% online, we can assure that you’re dealing with real people anytime you get in touch with Monzi.

In any case, as a lender-finder service, we’re not here to offer loans. Instead, you can apply with us and we’ll do our best to match you with a lender from our extensive network in a speedy manner. As a result, we could save you the time and effort of trying to find a lender. Best of all, with cash loan amounts ranging from $300 to $10,000, there may be a loan that suits your needs.

While that addresses who we are, Monzi Loans is so much more. To give you an idea, we’ve assembled this complete guide to our lender-finder service. At the end of the day, we’re an organisation you can trust. Monzi Loans and our service might make life a little bit easier for you. Read on to find out how.

Monzi Loans is legit, but how does it work?

So, Monzi is a lender-finder service, but what does that mean? In short, the simplest way to explain it is that we are the bridge between Aussies looking to borrow money and a network of top-notch lenders. Here’s how it works.

If you find yourself in a financial bind and need a cash loan, you’ll typically begin researching different lenders. While you could do this, your other option could be to apply with Monzi Loans. With this, you can apply from $300 to $10,000.

Once we receive your application, your work is done. Our automated system will take over and will attempt to match you with an available lender from our network who is willing to consider your application. If everything goes to plan, you may be matched with a lender in just 60 minutes. As a result, you may cut out the stress and hassle of trying to find a lender online as Monzi does the heavy lifting for you.

If you are matched with a lender, then we will pass your application onto them. At that point, our work is done and Monzi Loans is no longer involved in the process. And that’s all there is to it. Monzi Loans is a legitimate, lender-finder service that could be there if you need money fast. Apply today.

So, Monzi doesn’t offer loans?

No.

While we’ve already stated this, it bears repeating. The most important thing to recognise about Monzi Loans is that we are not a lender. We will not offer you an instant cash loan under any circumstances. Instead, our purpose is simply to connect borrowers and lenders to make life a little easier for everyone.

In any case, if you need a loan today, then there’s no reason why Monzi shouldn’t be your first port of call. Sure, you could take the time to find a lender yourself, but why bother? Apply with Monzi and we may be able to match you with an Aussie lender in just 60 minutes.

Does Monzi Loans conduct assessments?

No.

As we are not lenders, we do not conduct assessments. Our job is simply to connect you with an available lender who may be willing to consider your application. Anything beyond that is outside the scope of our service.

If you are matched with a lender, then they will assess your application to determine if you should be offered a loan. In short, this is necessary to comply with Australia’s Responsible Lending legislation. Ultimately, lenders must not offer you a loan that is unsuitable for your needs and objectives. As a result, approval is not guaranteed. Your lender will provide you with an outcome based on the results of their assessment.

Finally, note that as we are a lender-finder, we will not conduct a credit check. However, your lender may conduct a credit check as part of your loan assessment. In most cases, this will be non-negotiable, as lenders use this information to determine your creditworthiness.

What loans can I apply for?

At Monzi Loans, we work with a network of lenders who can potentially offer cash loans online from $300 to $10,000. With such a vast range of cash amounts on offer though, lenders will usually divide loans into three categories: small, medium or large loans.

See below for the key features of each loan type:

Small personal loans

  • $300 to $2,000
  • Repaid over 12 months
  • Unsecured personal loans

Medium personal loans

  • $2,100 to $4,600
  • 13 to 24 month repayment term
  • Secured personal loans

Large personal loans

  • $5,000 to $10,000
  • Repaid over 13 to 24 months
  • Secured personal loans

Am I eligible to apply with Monzi Loans?

So, now that you know Monzi Loans is ready legit, you’re ready to apply for a fast cash loan. However, before you launch into an application, you must first confirm that you are eligible. To do this, ensure you check the following boxes:

  • Australian citizen or permanent resident.
  • At least 18 years of age.
  • Have an active mobile number and email address for contact purposes.
  • Can provide details of an online bank account, where your income is deposited, with at least three months of history.

If you fail to meet the criteria listed above, then your application will not progress. However, if you check these boxes, then you’re free to apply. Find out how below.

How do I apply?

At Monzi, we’re about making life a little easier for you. Rather than spending your day trying to find a lender online, you can just apply with Monzi. If it all goes to plan, you may be matched with an available lender in what feels like no time.

To apply, just follow these easy steps:

  1. Select a loan amount and repayment term using Monzi’s loan slider. Note that cash loans of up to $2,000 come with fixed, 12-month terms.
  2. Provide the necessary details to complete Monzi’s online application form. Then, hit ‘submit.’
  3. Once you’ve submitted your application, we take over and will do our best to match you with an available lender from our network. If you apply during business hours, then you may receive an outcome in just 60 minutes.
  4. Monzi Loans will contact you via text or email with an outcome. If we successfully match you with an available credit provider, then they will reach out to begin the next stage of the process.

And that’s all there is to it. Just follow the four steps above and you may be on your way to accessing the easy cash loans that you need now. However, remember that we cannot guarantee if your application will be successful.

What information do I need to provide to Monzi Loans?

When you apply with Monzi Loans, there are a handful of details that you must provide. In short, lenders will use this information when assessing your application to determine if you should be offered a loan. As a result, before you begin, ensure that you can provide the following:

  • Personal details (e.g. name, date of birth, driver’s licence).
  • Contact information
  • Employment details
  • Online banking details
  • An estimate of your current expenses.
  • Details of the asset you intend to use as security if you are applying for a secured loan (e.g. your car).
  • MyGov details
  • The amount you wish to borrow and your reason for applying.
  • Any other details that may be relevant.

Finally, while we understand that you may be hesitant to share your personal details online, given the inherent privacy concerns, we can assure you that your information is safe and secure with Monzi. Our online system is protected by cyber-security giants Comodo and McAfee, meaning your data will only ever be viewed by those that need to see it.

Are there any fees or charges when I apply?

No!

One of the best things about Monzi Loans is that it’s free to apply. In other words, we may match you with a great Aussie lender today and ask for nothing in return. Surely it can’t get any better than that? Not only is Monzi Loans fast, easy and hassle-free, but it won’t cost you a dime either.

That said, keep in mind that if you are matched with a lender and agree to a loan, then you will be charged fees and interest on the money you borrow. As a result, ensure you consider any costs and your current financial situation before applying to determine if a quick cash loan may be right for you.

If Monzi Loans is legit, what can I use my loan for?

One of the key benefits of cash loans is that they may, in essence, be spent like cash. In other words, if you apply for a loan and are approved, then you can use the money you receive to cover a wide variety of legitimate, personal expenses.

To give you an idea, some of the reasons that you may apply with a lender-finder like Monzi Loans includes:

  • Car repairs
  • Debt consolidation
  • Household maintenance and repairs
  • Travel expenses
  • New furniture, appliances or technology
  • Urgent bills
  • Accommodation costs
  • Rent bond

Note that this list could go on. This is simply a snapshot of why Aussies like you apply with Monzi Loans. In short, we’re a legitimate lender-finder who may connect you with lenders who can potentially offer you cash loans when your budget is stretched thin.

Is Monzi Loans legit displayed on a mobile phone

Can I apply for both secured and unsecured loans with Monzi Loans?

Yes.

At Monzi Loans, we’re all about ensuring there is something for everyone. That’s why we work with lenders who may offer loans from $300 to $10,000. With this, depending on your cash need, you may have the opportunity to apply for either an unsecured or a secured loan.

On the one hand, if you’re dealing with something minor (e.g. a utility bill that’s due tomorrow) that you can’t quite cover, then a small unsecured personal loan may be right for you. With this, you can apply from $300 to $2,000. As there’s no obligation to provide security, you just have to make your repayments until the balance of your loan is paid off.

On the other hand, if you’re dealing with something more substantial (e.g. major car repairs), then you may apply for a secured loan from $2,100 to $10,000. With this, you must provide a personal asset to guarantee the loan (e.g. your vehicle). If you fail to repay your loan, the lender may take steps to repossess this asset to recover their losses.

Can I apply if I receive Centrelink benefit payments?

Yes.

Monzi Loans welcomes applicants from a range of backgrounds. As a result, if Centrelink benefit payments account for a portion of your income, then you’re welcome to apply. We won’t treat you any differently. We aim to help Aussies from a range of different circumstances find lenders online.

That said, keep in mind that if you receive benefit payments, then to be approved, you must demonstrate that the associated repayments would fit comfortably with your budget. Moreover, given that lenders charge interest and fees, these loans can be expensive. As a result, if you are a low-income earner or benefit payments recipient, then it may be wise to consider alternatives.

I want to know if Monzi Loans is legit? Can I contact you?

Of course.

While we can assure that Monzi Loans is legit, if you’ve got any questions about how our lender-finder service operates or what we may be able to do for you, then you’re more than welcome to get in touch.

Send your questions to hello@monzi.com.au and one of our helpful customer service team members will get back to you as soon as they can with an answer that will hopefully address your queries or concerns.

However, keep in mind that we only monitor this account during business hours. That said, you’re welcome to contact us at any time. We’ll get back to you as soon as we return to the office.

Is Monzi Loans legit? Check out our reviews today

While we could talk to you all day about what we can offer and why you should apply with Monzi Loans, often, it’s better to hear from past applicants. After all, they’ve been through the process before and can share their experiences. So, why not check out our user reviews online?

With this, dozens of past applicants have posted reviews on Google, Product Review and Trust Pilot. Just head to your preferred website and punch in “Monzi Loans.” From there, take some time to read the comments and ratings we’ve received from everyday Aussies just like you who have applied with Monzi in the past. As a result, you can verify that Monzi Loans is well and truly legit.

Ok, Monzi Loans is legit. What are some benefits to applying?

Using a lender-finder like Monzi may take the stress and hassle out of finding a lender. Rather than scrolling through endless search results, you can apply with Monzi in no time. From there, we’ll do the work for you. Our automated system will take over and will attempt to match you with an available lender from our network.

If it all goes to plan, Monzi may be a quick and easy option to help you access the cash you need now. However, if you’re still not convinced that you should apply with Monzi, that’s OK. Check out some of the other great benefits that you may experience when you apply with Monzi:

Easy applications

With Monzi Loans, you can potentially apply in minutes. Just select your preferred loan and then provide the necessary personal and financial details. Submit your application and your journey to finding a lender is underway. Applying with Monzi Loans may be the easiest thing you do all week.

Nothing to pay

As we’ve mentioned, applying with Monzi won’t cost you a cent. As a result, you may avoid the hassle of trying to find a lender and we won’t ask for anything in return. However, if a lender from our network offers you a loan, then keep in mind that they will charge fees and interest. As a result, you will repay more than you initially borrowed.

Transparency

We’ve outlined the Monzi Loans process so that you know what will occur at each step along the way. As a result, you don’t have to worry about what might happen. Monzi Loans is a legitimate company and we will always do our best to match you with a licenced and trusted lender from our network. Moreover, the lenders in our network will do things by the book and comply with their responsible lending obligations.

100% online

From start to finish, the Monzi Loans process is 100% online. As a result, you can apply whenever and from wherever you choose. You could be on the train to work or lying on the couch after a long day. It doesn’t matter to Monzi. As long as you can connect to the internet, Monzi’s website is right there at the touch of a button.

In addition to this, our website is live 24/7, so we’re always ready and waiting to hear from you. Just keep in mind that applications received outside of business hours may encounter delays.

A network of great Aussie lenders

Monzi Loans acts as the bridge between everyday Aussies and lenders offering cash loans. With this, we’ve spent time developing a top-notch network of licenced credit providers that we trust. Apply today and we may be able to connect you with one such lender before you know it.

We accept Aussies from all backgrounds

As long as you meet the four eligibility criteria, you’re welcome to apply with Monzi. So, whether you’ve got bad credit or receive Centrelink benefit payments, Monzi may still be able to help you. While we cannot guarantee if your application will be successful, we’ll always do our best to find a lender who may be able to assist you.

Something for everyone

Monzi works with lenders who offer quick loans online from just $300 up to a whopping $10,000. As a result, whether you need a little extra cash to cover a small expense or having something major to address, there may be a cash loan that fits your needs. That said, keep in mind that you must secure loans over $2,000 with one of your assets (e.g. your car).

I know that Monzi is legit, but is a personal loan right for me?

Monzi might be able to connect you with a lender offering fast loans from $300 to $10,000 in a quick and easy manner today. While that’s undoubtedly enticing, you shouldn’t apply for these loans on a whim.

Borrowing money may get you out of a tight spot when your budget is stretched thin. However, lenders charge fees and interest, meaning you’ll always repay more than you initially borrowed. Moreover, you’ll need to make regular repayments for a period of between 12 and 24 months, depending on your loan amount. As a result, you must take the time to consider your financial situation before applying.

To get the ball rolling, key questions to ask yourself include:

  • What’s my current income?
  • How much do I spend each week on essentials (e.g. rent, food, bills)?
  • How much do I need to borrow?
  • Do I have any other outstanding debts or on-going repayments (e.g. car loans, home loans, credit card debt, etc.)?
  • Would the associated repayments fit my budget?
  • Could I reduce my current costs to decrease the amount I need to borrow?
  • Do I have any other options?

For more information, consider reading Moneysmart’s guide to personal loans. There you will find further details regarding what you may need to think about before applying. Check it out today.

My application was unsuccessful, can I apply again with Monzi Loans?

If your application was unsuccessful today, you are welcome to apply with Monzi again in the future. In other words, your past application won’t be held against you. That said, it’s important that you take some time to work yourself into a more secure financial position before doing so. As a result, you may give yourself the best chance of receiving approval.

In addition to this, keep in mind that while Monzi Loans will always endeavour to match you with a lender, not every application will be successful. While we understand that this may be frustrating, credit providers must lend responsibly. In other words, they must not offer online loans that are unaffordable for you. As a result, there is always a possibility that your application will not be approved.

If you find yourself in this situation, contact your lender. They may be able to outline why your application was unsuccessful. As Monzi is a lender-finder, we do not conduct loan assessments. Therefore, we cannot answer any questions that you may have.

Apply Now

Now that you know Monzi loans is legit, are you ready to begin your journey to finding a lender? Apply for cash loans from $300 to $10,000 now. Avoid the hassle of trying to find a lender online. Let Monzi Loans do the work for you. We may be able to match you with a lender before you know it.

Or, if you want to further explore all that Monzi Loans can offer, why not follow us on Facebook, Instagram, Twitter and Pinterest. Give us a Like or Follow to stay across all the latest news and happenings. We’ll see you there!

Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Loan amount

$2,001 - $4,600

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.