How does the MoneyLion Plus loan work?

MoneyLion Plus is a legacy MoneyLion product offering that is not available to new/incoming members. Existing MoneyLion Plus members will soon be transitioned to MoneyLion’s Credit Builder Plus membership as of October 1, 2019.

As a MoneyLion Plus member, you get access to a low cost $500 5.99% APR loan with a 12 month term. Once you’re a member you don't need to re-apply for a loan. Pay it off at any time without extra fees.

Here’s what your total payments could look like for different payoff periods:
  • Pay back after 2 weeks - get $500, pay back $501.15
  • Pay back after 6 months - get $500, pay back $514.98
  • Pay back after 12 months - get $500, pay back $529.95

 You can get a MoneyLion Plus loan anytime as long as you don't have a currently active loan and your membership payments are in good standing.

The MoneyLion Plus loan is a feature of your membership. Membership and loan payments are separate; your loan payments do not count toward your membership charges or vice versa.
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