MoneyLion Plus Personal Loans
MoneyLion Plus Personal Loans Claimed

MoneyLion Plus Personal Loans

SuperMoney Net Recommendation Score +35  


This product is mostly recommended by SuperMoney users with a score of +35, equating to 3.7 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Community Rating Mostly recommended
APR  (Fixed APR) 5.99% - 29.99%
(Verified 08/04/2023)
Loan Amount Starting at $1,000
Loan Term (Months) 1 - 36 months
Number of Reviews 336

MoneyLion Plus Personal Loans Review

MoneyLion Plus Personal Loans is offered by MoneyLion Inc., a direct lender founded in 2013 and based in New York, NY. MoneyLion are available in 45 states (and Washington, DC).

Key Takeaways

  • APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for MoneyLion Plus Personal Loans are on the lower end of the spectrum.
  • Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
  • Strongly recommended. 218 out of 336 SuperMoney community members recommended MoneyLion Plus Personal Loans.
  • Prequalified rate. You can check your prequalified rate at MoneyLion Inc. with a soft pull that will not affect your credit score.
  • Origination fees of 0% to 6%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
  • Short loan terms. MoneyLion Plus Personal Loans have loan terms as short as 1 month.
  • Minimum income of $36,000. You will need an annual income of at least $36,000 to apply for MoneyLion Plus Personal Loans, which is above average for the lenders in our database.

MoneyLion Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 1 business day.
  • APRs as high as 29.99%.
  • Charges an origination fee of up to 6% of the loan amount.
  • Charges a late fee of $25

MoneyLion FAQ

What interest rates and personal loan terms does MoneyLion offer?

MoneyLion has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does MoneyLion offer?

MoneyLion offers a fixed APR personal loan product that ranges from 5.99% APR up to 29.99% APR.

How much can you borrow via MoneyLion?

Personal loan amounts start at $1,000.

What is the maximum loan term you can get with MoneyLion?

MoneyLion offers loans with terms of up to 36 months.

MoneyLion Interest Rates & Loan Terms
Personal Loan Amount Starting at $1000
Loan Term 1 - 36 months
APR 5.99% - 29.99%

What fees does MoneyLion charge?

Does MoneyLion charge an origination fee?

MoneyLion may charge a personal loan origination fee of 0% to 6% of the personal loan amount. MoneyLion deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.

Does MoneyLion charge a late fee?

Yes, MoneyLion may charge borrowers a late payment fee if you miss one of the monthly payments of up to $25, which is triggered if you're 15 days late.

Does MoneyLion charge prepayment fees?

No, MoneyLion does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

MoneyLion Fees
Origination Fee 0% - 6%
Prepayment Fee No
Late Payment Fee $25

What do you need to qualify for MoneyLion Plus Personal Loans?

Applicants with a credit score of at least 560 and up to 720 may be eligible for MoneyLion Plus Personal Loans. 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.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by MoneyLion Plus Personal Loans.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
MoneyLion Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
Credit Score 560 - 720

What is the estimated funding time for a personal loan via MoneyLion?

MoneyLion will typically approve (or deny) a loan application within 24 hours and fund loans within 3 business days of approval.

Does MoneyLion Plus Personal Loans report your account activity to credit bureaus?

Yes, 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 may help improve your credit.

Are MoneyLion Plus Personal Loans legit?

MoneyLion Inc. was founded in 2013, it is a well-established company that has been in business for 10 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

MoneyLion Plus Personal Loans Disclosure: Loans are offered through MoneyLion Inc. subsidiaries. Exempt or Licensed entities include: AL by MoneyLion of Alabama, regulated by AL State Banking Dept, Lic. No. MC22369; AZ by MoneyLion of Arizona LLC; CA by MoneyLion of California, LLC are made or arranged pursuant to California Finance Lenders Law license, regulated by the Department of Business Oversight, State of California; CO by MoneyLion of Colorado, LLC regulated by the CO Dept. of Law,Lic. No. 992157; CT by MoneyLion of Conn., exempt lender; DE by MoneyLion of Delaware LLC regulated by the DE Office of the State Bank Commr. Lic. No. 023961; FL by MoneyLion of Florida regulated by Office of Fin. Reg.; ID by MoneyLion of Idaho LLC, regulated by the ID Dept. of Finance, Lic. No. 96264; KS by MoneyLion of Kansas LLC regulated by the Office of the State Banking Commr., Lic. No. SL26648; LA by MoneyLion of Louisiana LLC regulated by the Commr. Of Fin. Insts., Lic No. 1598991-1394881; MD by MoneyLion of Maryland LLC regulated by the MD Dept. of Lbor, Licensing and Reg., NMLS ID 1658081; MN by MoneyLion of Minn. LLC, exempt lender; MS by MoneyLion of Mississippi LLC regulated by the MS Dept. of Banking and Consumer Finance, Lic. No CA/003361; MO by MoneyLion of Missouri LLC regulated by MO Commr. of Insurance, Lic. No. 510-18-7457; NC by MoneyLion of North Carolina LLC, exempt lender; ND by MoneyLion of North Dakota LLC, ND Dept. of Financial Inst., Lic. No. MB103129; NM by MoneyLion of New Mexico LLC, regulated by Fin. Insts Div. of the ND Reg. and Licensing Dept.; NJ by MoneyLion of New Jersey LLC, exempt lender; NY by MoneyLion of New York LLC, exempt lender; NV by MoneyLion of Nevada LLC, exempt lender; OR by Moneylion of Oregon LLC regulated by the Dept of Consumer and Bus. Svs., Div of Fin. Reg., Lic. No. 0408-001-C; SC by MoneyLion of South Carolina LLC, regulated by the St. Bd. Of Fin. Insts., Lic. No. S-8300; SD by MoneyLion of South Dakota regulated by Dept. of Labor and Reg.; TN by MoneyLion of Tennessee, exempt lender; Utah by MoneyLion of Utah LLC under a Consumer Credit Notification Form, regulated by the Utah Dept. of Fin. Insts.; VA by MoneyLion of Virginia LLC, exempt lender; WA by MoneyLIon of Washington LLC, NMLS No. 1237506, regulated by the Washington St. Dept of Fin. Insts.; WI by MoneyLion of Wisconsin LLC under Loan Company License # 2935, regulated by the Wisconsin Dept. of Fin. Inst.; WY by MoneyLion of Wyoming LLC regulated by the Dept of Audit Div of Banking, Lic. No. 0778.
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Message From MoneyLion

Borrow money for even less, all while saving for tomorrow in your own investment account.

Message From Our Editor

What we love about MoneyLion Personal Loans

MoneyLion is a financial technology company that uses a proprietary model to determine lending risk. That means that it is often willing to offer loans to people that have trouble with borrowing money from traditional lenders.

While MoneyLion tends to target those with good credit, people who apply for a loan are also automatically considered for a loan from LionLoans. These loans are easy to qualify for but come with higher interest rates.

The company offers a low minimum loan amount, so only if you only need to borrow a small amount, MoneyLion may be able to help you.

What could MoneyLion Personal Loans do better?

A major drawback of MoneyLion Personal Loans is that there isn’t a lot of flexibility when it comes to the term of the loan. Many competitors offer more term options, making it easier for borrowers to customize their monthly loan payments.

Another drawback is that the company’s loans tend to have higher interest rates than the competition, even for people who are well-qualified. These higher rates are on top of an origination fee, which further increases the cost of the loan.

MoneyLion Personal Loans does not operate in all fifty states, so borrowers outside of its service area will need to find another lender to work with.

MoneyLion Personal Loans’s backstory

MoneyLion is a New York-based lender that was founded in 2013. On top of its loans, the company offers mobile banking and automated investing services.

The Verdict

People with good credit will likely get a better deal from a different lender. If you have poor credit, applying for a loan from MoneyLion gives you a good chance of qualifying, but the interest rates and fees may make the loan too expensive to be worth getting.


About MoneyLion Plus Personal Loans

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View all personal loans offered by MoneyLion Inc.

Other Personal Loans by MoneyLion Inc.



  Available in 45 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • 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
  • Washington, DC
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $25
Late Fee Grace Period 15 days
No Prepayment Fee
Origination Fee (%) 0% - 6%
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Other
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $36,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
Credit Score Range 560 - 720
Approval Speed 24 hours
Credit Bureau Reporting TransUnion
Funding Time Range 1 - 3 days
Payment Options Automatic Payments
Pre-Qualified Soft Credit Inquiry
APR Type Fixed APR
Loan Amount Starting at $1,000
APR (Fixed APR) 5.99% - 29.99%
(Verified 08/04/2023)
Loan Term 1 - 36 months

MoneyLion Plus Personal Loans Community Reviews


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This product is mostly recommended by SuperMoney users with a score of +35, equating to 3.7 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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