Security

Monzi maintains reasonable measures to protect the security and confidentiality of your personal information from misuse, interference and loss, unauthorized access, modification or disclosure. We have constructed our systems and processes to protect your information from square one.

Top-notch verification technology
We verify your income through the use of a program called BankStatement. What does BankStatement do? They speed up and streamline loan applications. This means less paperwork, less fuss and a quicker decision about loan approval. They do this with our own technology that retrieves your bank statement data and sends it directly to us. This allows us to form a fully secure connection with your bank and saves you the hassle of providing tiresome paperwork. No one at Monzi or our network of lenders is able to view your internet banking password details and this information is NOT stored anywhere. Click here to visit the BankStatement website and view their Privacy Policy.

Bank level security
We follow the same security and encryption standards as the banks. We use 256-bit secure socket layer (SSL) technology to safeguard you and your financial data.

Certification
Our website is secured by the Comodo SSL Certificate.

Vital website protection
Our website is secured and scanned daily, ensuring protection from identity theft, credit card fraud, spam, and malicious software. All data is encrypted between your system and ours, to ensure that all your data and information is fully protected.

How customers rate Monzi

Security Overall rating: 4.9 out of 5 based on 10 reviews.

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. The maximum comparison rate on loans between $300 and $2000 is 199.43%. 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 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

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.

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 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

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.