About Monzo

Monzo aim to make banking easy – you can open a full UK bank account from your phone for free, and manage your money all in one place. They offer a number of account options, such as current accounts, plus accounts and business accounts.

One of the exciting features of a Monzo account is that you can create customised savings pots, to encourage you to meet your savings goals. Monzo will also automatically round up your spare change and put the excess in your savings pot.

In terms of Monzo’s borrowing options, they offer overdrafts of up to £1,000 and loans up to £25,000. The latter come with varying Representative APRs, depending on how much you borrow and allow you to make flexible repayments.

Last Updated: February 2023

Why Apply Through My Financial Broker?

• Poor Credit Considered: You don’t need a perfect credit score to apply for a short term loan. Many of the lenders in our panel will consider your loan application even if you have bad credit, and won’t just focus on your credit rating when making a loan decision.

• Save Time: Taking out a short term loan doesn’t have to be overly time consuming and stressful. Our short online application form shouldn’t take more than a few minutes to complete, and you should then get an instant loan decision on screen.

• Borrow What You Need: With a lot of bank loans, you can’t take out a small loan, and you could end up paying more in the long run. But with a short term loan, you can borrow exactly what you need to cover any unexpected expense.