MoneyLion Plus Personal Loans
in Personal Loans from MoneyLion Inc.
Would you recommend MoneyLion Plus Personal Loans to your friends?
| Community Rating | Strongly recommended |
| Loan Amount | $1,000 - $35,000 |
| APR (Fixed APR) | 5.99% - 200% |
| Loan Term | 1 - 36 months |
| Number of Reviews | 437 |
MoneyLion Plus Personal Loans Review
What is MoneyLion Plus Personal Loans and where is it located?
MoneyLion Plus Personal Loans is offered by MoneyLion Inc., a direct lender founded in 2013 and based in New York, NY. MoneyLion Plus Personal Loans is offered in 45 states (and Washington, DC).
What rates and terms does MoneyLion Plus Personal Loans offer?
MoneyLion Plus Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.
What personal loan APRs does MoneyLion Plus Personal Loans offer?
MoneyLion Plus Personal Loans offers a fixed APR personal loan product that ranges from 5.99% APR up to 200% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via MoneyLion Plus Personal Loans?
Loan amounts start at $1,000 and go up to $35,000.
What can a personal loan from MoneyLion Plus Personal Loans be used for?
Personal loans from MoneyLion Plus Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with MoneyLion Plus Personal Loans?
MoneyLion Plus Personal Loans offers personal loans with terms ranging from 1 to 36 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
| Loan Amount | $1000 - $35000 |
| Loan Term | 1 - 36 months |
| APR | 5.99% - 200% |
What fees does MoneyLion Plus Personal Loans charge?
Does MoneyLion Plus Personal Loans charge an origination fee?
MoneyLion Plus Personal Loans charges a loan origination fee of 0% to 6% of the loan amount. MoneyLion Plus Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does MoneyLion Plus Personal Loans charge a late fee?
Yes, MoneyLion Plus Personal Loans may charge borrowers a late payment fee of up to $25, which is triggered if you're 15 days late.
Does MoneyLion Plus Personal Loans charge prepayment fees?
No, MoneyLion Plus Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
Can you refinance a MoneyLion Plus Personal Loans loan?
Yes, you can refinance a MoneyLion Plus Personal Loans. You can refinance practically any personal loan if you find another lender willing to lend you the balance on your loan. However, MoneyLion Plus Personal Loans does not charge a prepayment penalty, which makes it easier to find a refinancing loan that will save you money.| Origination Fee | 0% - 6% |
| Prepayment Fee? | No |
| Late Payment Fee | $25 |
What do you need to qualify for MoneyLion Plus Personal Loans?
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
The minimum age to be eligible is 18 or the state minimum, whichever is higher.
To qualify for personal loans with MoneyLion Plus Personal Loans, applicants need a minimum annual income of $36,000 or higher. MoneyLion Plus Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via MoneyLion Plus Personal Loans. Their rates fall within the limits of The Military Lending Act.
What is the minimum credit score for MoneyLion Plus Personal Loans?
Applicants with a credit score of at least 560 and up to 720 are eligible for MoneyLion Plus Personal Loans.Does MoneyLion Plus Personal Loans verify employment?
Yes, all lenders are required to verify at least a portion of applicants who use their employment as a source of income to comply with "Know Your Customer" laws.
How does MoneyLion Plus Personal Loans verify income?
Lenders typically don't disclose details about their employment and income verification process. However, they are not allowed to ask your employer for your income unless you sign a form authorizing it. Instead, lenders will typically verify income by requesting documents, such as paystubs, W-2 forms, or other tax records that confirm the income stated in the loan request.
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted | Individual Applications |
| Credit Score | 560 - 720 |
How long does MoneyLion Plus Personal Loans take to deposit money?
MoneyLion Plus Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.
Does MoneyLion Plus Personal Loans report your account activity to credit bureaus?
MoneyLion Plus Personal Loans reports your account activity to the following credit reporting agencies:
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
Contact
- Headquarters
-
30 West 21st Street 9th Floor
New York, NY 10010 - Visit Site
Message from MoneyLion Inc.
About MoneyLion Plus Personal Loans
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- Wisconsin
- Wyoming
Feature Breakdown
| No Prepayment Fee | |
| Late Fee After | 15 days |
| Late Fee Amount | $25 |
| Origination Fee (%) | 0% - 6% |
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