Last Updated: 04/18/2025
SuperMoney User Recommendation Score +36
Mostly recommended335 total votes
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Highlights
Community Rating
Mostly recommended
APR (Fixed APR)
5.99% - 29.99%(Verified 06/21/2024)
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Amount Range
Starting at $1,000
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Loan Term (Months)
1 - 36
Number of Reviews
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 9% and 36%. The starting rates for MoneyLion Plus Personal Loans are on the lower end of the spectrum.
- Fast access to funds. If approved, MoneyLion Inc. will send the money in as little as 24 hours.
- Prequalified rate. You can check your prequalified rate at MoneyLion Inc. with a soft pull that will not affect your FICO or VantageScore.
- 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.
MoneyLion Pros & Cons
| Pros | Cons |
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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.
| 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 a late payment fee if you miss one of the regularly scheduled payments of up to $25.
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.
| 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. MoneyLion Plus Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
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 or other government photo ID
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | 560 - 720 |
What is the estimated funding time for a personal loan via MoneyLion?
MoneyLion will typically fund loans within 1 to 3 business days of approval and clearing necessary verifications.
Does MoneyLion Plus Personal Loans report your account activity to credit bureaus?
Yes, MoneyLion Plus Personal Loans reports to the following credit bureau:
- 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 build your credit.
Does MoneyLion Inc. perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. MoneyLion allows you to check your rates with a soft credit pull.
Are MoneyLion Plus Personal Loans legit?
MoneyLion Inc. was founded in 2013, it is a well-established company that has been in business for 13 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from MoneyLion
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.
Other Services by MoneyLion Inc.
Other Personal Loans from MoneyLion Inc.
APR
36% - 99%
Disclaimer popup with additional information
Amount Range
$300 - $10K
Loan Term (Months)
12 - 36
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +36, or 3.7 on a 5-point rating scale.
+36
-1000+100
No one recommends
Everyone recommends
MoneyLion Plus Personal Loans Community Reviews
Would you recommend MoneyLion Plus Personal Loans to your friends?
JC
Jessica C.
Jan 22, 2024
May or may not recommend
Lots of rewards and incentives. Has ways to invest built into the app, and you’re able to save money. Just keep up when you’re payments are due!
JL
Judy L.
Jul 8, 2023
May or may not recommend
Yes seems to be interested in what I very much need
BW
Breya W.
Jun 6, 2023
May or may not recommend
I don’t like the ideal of being charged a monthly fee for a membership on top of other fees and of course the monthly payment for the loan. That’s a whole lot of paying! I do like the Instacash and I’ll stick to that.
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
They do report to credit bureaus despite most comments. It's only a year it's helped me personally to build credit.
BS
B S.
Jun 10, 2022
May or may not recommend
I hate when companies play tricks with things as personal as your finances. Want a personal loan? Great but we're only going to give you 3/4 of the amount. So you're paying interest on money you don't have access to. Oh and you need to pay a membership fee of $20.00 per month and you can't cancel the membership until the loan is paid off ...Show More
SJ
Sade J.
May 10, 2022
May or may not recommend
They do report to credit bureaus despite most comments. It's only a year it's helped me personally to build credit.
MP
Melanie P.
Jan 11, 2021
May or may not recommend
I love moneylion. They dont do a credit check on your loans and they can help you keep track of your spending. It's an awesome company with excellent customer service.
U
Anonymous
May 7, 2020
May or may not recommend
This was originally an excellent product when it gave you an opportunity to offset the fee by engaging in certain activities. Now, the "MoneyLion Plus" product offering is more expensive than it's worth. Why pay a monthly fee to MoneyLion on top of interest for the loan? This product is now mathematically impractical for most of its users, but like any other clever unnecessary subscription service, the process for terminating ...Show More
AN
Amanda N.
Mar 18, 2020
May or may not recommend
I would highly recommend this loan because the interest rate is so low. I've never seen another loan with such good terms and such a low monthly payment. It's great.
LB
Lynda B.
Mar 14, 2020
May or may not recommend
I've been with Money lion over a year AND LOVE THEM. 2 Problems, I keep telling everyone there to take my small advance loans out of my bank account and they just won't, which makese look like a deadbeat. When I started with Moneylion I paid 80.00 a month, EVERY MONTH. I got a 500$ loan, made my payments on time, taken right out my bank account!!!!!. They will tell ...Show More
Lefteye02
Feb 18, 2020
May or may not recommend
They won't correct SSN that is put in wrong. I tried many times to get their bank account but they told me that I require manual processing and they stopped doing that in order to update their system.
Nathan H.
Oct 19, 2019
May or may not recommend
Terrible! The customer service is a joke! They changed the membership to force you into their crappy checking account. They will steal your investments with fees and the app is glitched most of the time.
KS
Katie S.
Oct 16, 2019
May or may not recommend
These people took out a CHECK FROM MY ACCOUNT WITHOUT MY APPROVAL!!! Don’t use them!
David G.
Oct 9, 2019
May or may not recommend
Good luck getting ANY customer service under ANY circumstances. All responses are computer generated and your money WILL be locked up because no one can help you or they flat out refuse to help you.;
U
Anonymous
Sep 21, 2019
May or may not recommend
Great company, very helpful, informed, and easy to work with.
CS
Crystal S.
Sep 6, 2019
May or may not recommend
I would but they take the money early and it ends up screwing up your bank account. I have asked them repeatedly to wait ONE DAY! to take the money because the timelines for when they take the money out and my paycheck goes in are off by a few hours so i end up accruing alot of fees. They blamed it on my bank and said they are the ...Show More
TG
Terrie G.
Sep 5, 2019
May or may not recommend
They chargw a membership fee to have a checking account of 29.99!!
Estee D.
Sep 4, 2019
May or may not recommend
If you keep your expectations low and understand getting ahold of live customer service is about as likely as being struck by lightning twice on a sunny day, then yes MoneyLion ain’t terrible. Their loan program is questionable but then again I doubt anyone seeking the no credit check loan is in much of a spot to complain. The reviews on here are mainly pretty terrible when discussing the loan ...Show More
Sandra L.
Sep 3, 2019
May or may not recommend
This company is the worst. I had a loan with them last year. I paid the loan off February 15, 2019. On July 7 They put a collection on my credit for none payment when the account was showing paid in full on there web site. I called them and ask them to remove the collection off my credit and found out that they never took the payment on February ...Show More
MH
Melissa H.
Sep 3, 2019
May or may not recommend
The payments are very reasonable and easy to get!! I LOVE Money Lion!
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