Loan Guide

Below you will find answers to frequently asked questions. If you do not find answer to your question, please contact our loan advisers at +372 588 55553 or send an e-mail to [email protected]


MONEYZEN is a peer-to-peer lending portal, which enables people to lend and borrow loans between each other. The terms social lending and direct lending are used to describe the activity as well. The portal provides services to lenders (investors) as well as the borrowers.

The earned interest rates on the granted loans are much higher than of the bank deposit. However, the risk of losing the money in peer-to-peer lending portal is also much higer as compared to the bank deposit.

Why to choose MONEYZEN?


1. Simple, fast and flexible.
Money moves fast in the financial portal and operations are simple and handy; you can choose the conditions most suitable for you.

2. Convenient
MONEYZEN is a web-based solution; you can perform all operations in a computer with secure internet connection.

3. Advisory
We approach your loan application personally and provide advice about getting the better loan terms.

Who can apply for a loan in MONEYZEN?

MONEYZEN enables loans to 18-73 year-old persons, who have a regular monthly income and capability to fulfil their loan obligations in a timely manner. If your employment agreement contains a condition of probationary period, the probationary period must be completed to obtain credit. Loans are granted to borrowers who have diligent payment behaviour.

What should I know about taking loans in MONEYZEN?

MONEYZEN is a peer-to-peer lending portal enabling direct lending between people. As a new and rapidly developing environment it allows fast and flexible financial agreements without the assistance of unnecessary mediators.

MONEYZEN common financing portal enables fast and simple applications of unsecured loans in the amount of 400 – 10 000 euro with a repayment period of 3 months – 3 years.

How much can I borrow from MONEYZEN?

The MONEYZEN peer-to-peer lending portal enables to apply for a loan in the amount of 400 – 10 000 euros.

For how long can I get the loan in MONEYZEN?

The loan period in the MONEYZEN peer-to-peer lending portal is 3 months to 3 years (from three months to seven years).

How to take a loan?

It is simple to apply for a loan – see detailed information here The loan application process includes three steps:
1. Select loan conditions: the suitable loan amount and the period.
2. Fill in the application.
3. Submit necessary documents: your bank account statement digitally signed by your bank for the last 6 months and a copy of your identity document (passport or ID card)
4. Make 1 eurocent payment to your personal virtual account in MONEYZEN

Based on the submitted data, a personal credit score will be assigned to the loan applicant. The credit score is used for collecting personal loan offers from investors in MONEYZEN. MONEYZEN credit score is the rating parameter of the MONEYZEN portal used to mediate loan applications and loan offers.

The MONEYZEN peer-to-peer portal collects and thoroughly analyses the information concerning the solvency and creditworthiness of each borrower in order to determine the current financial situation of the applicant and match it with the loan product. We hope for your understanding and cooperation when performing a background check by our loan administrators.

How to take a loan? How to sign documentcs electronically?

The guide for electronic signing

In what situations the personal identification is required?

If total outgoing payments from virtual account exceed 15 000 euros per calendar month in case of private person and 25 000 euros in case on legal entity, verification of your identity (face-to-face or using infotechnological means) is required. The identity can be verified at MONEYZEN's office. Please read more about identity verification here

What conditions are set for a surety provider?

MONEYZEN reserves the right to request from the borrower finding a surety provider for the loan agreement. The conditions that are set for surety provider are the same as for the borrower. Read more from Loan Conditions

What is suretyship?

Suretyship involves a promise by one party to assume responsibility for the loan obligation of the borrower if the borrower defaults. Surety provider agrees to pay the loan debt instead of the borrower if the borrower has failed to perform the loan obligations. Loan guarantor’s liability is limited to the loan amount

What is an interest-only period?

An interest-only period is a temporary postponement of the loan principal repayments due to unexpected worsening of your financial situation. While applying you may be asked to upload your bank account statements.
Please note, during the interest-only period you do not have to pay the principal, but you still have to pay the interest and maintenance fee. Also, the total period of your loan agreement shall be prolonged by the number of months in the interest-only period.

Can I apply for an interest-only period?

Yes, you can apply for an interest-only period provided you do not have any overdue repayments and there are sufficient funds available on your virtual account for debiting the charge for interest-only period agreement (see the pricelist). The lenght of the interest-only period can be from one to six months. You can apply for an interest-only period only once in six months.

Can I apply for the change of payment date?

Yes, you can apply for the change of payment date provided you do not have any overdue repayments and there are sufficient funds available on your virtual account for debiting the charge for changing of payment date (see the pricelist). Note, you first repayment amount will differ after changing the payment date due to change in the interest amount.

What is a loan?

Loan is a financial obligation which incures additional expenses (loan expenses). This means that, in addition to the loan principal, the borrower has to pay the loan-related expenses, which usually include the interest. Loans can be classified differently: based on the availability of security – secured or unsecured loans –, but also based on the period – short-term and long-term loans.

What is the MONEYZEN credit score?

MONEYZEN credit score is the parameter characterising creditworthiness (ability to fulfil financial obligations) of the loan recipient. The calculation of credit score accounts for the payment behaviour and financial data of the borrower. Credit score is used to assess the ability of a private person to fulfill payment obligations. Generally, the higher credit score -the better ability of a private person to fulfil his/her obligations. In case of persons with lower credit score, the likelyhood of payment delays may be higher.

Traditionally, the calculation of credit score is based on income, expenses, existing obligations and monthly repayments of them. Credit score calculation includes other factors, such as profession, information related to the employer and duration of employment, level of education, marital status and number of dependants – these are all circumstances that influence financial income and expenses.

Why is the credit score assigned?

The reason for assigning the credit score is the assessment of the ability of loan applicant to fulfil financial obligations. The better your ability to fulfil obligations, the higher your credit score. Because the possibility of non-repayment of the loan is very low in case of persons with good solvency, the interest rate offered to those persons is usually lower than in case of persons with higher risk.

How is the credit score assigned?

Traditionally, the calculation of credit score is based on income, expenses, the balance of existing obligations and amount of monthly repayments of obligations, the number of dependants is also taken into consideration.

How do loan conditions depend on a credit score?

MONEYZEN investors usually make lower interest rate offers to applicants with higher credit score.

How can I improve my credit score?

The easiest way of improving the credit score is to analyse your expenses in order to reduce them. Taking additional loan obligations will reduce the credit score.

The option of increasing the income is more complicated, but for interpreneurs it is also a possibility to improve the credit score.

How often does MONEYZEN calculate the credit score?

Credit score is calculated according to the submitted loan application once in three months.

Do payment defaults affect the credit score?

Yes, payment defaults affect the credit score. The applicants with settled payment defaults have a lower credit score compared to those without defaults. Granting a loan to an applicant with outstanding payment defaults is unfortunately not possible.

Is credit score public information?

MONEYZEN credit score is personal and can be seen by the loan applicant only.

How is a loan offer composed?

Submission of a loan application in the MONEYZEN peer-to-peer lending platform is followed by calculation of your credit score. If your credit score is lower than 500, your loan application will not be submitted to investors for making loan offers. In case of a higher credit score, the peer-to-peer lending platform will find all offers of the investors complying with your credit score and loan period and will rank them based on affordability – the offer for loan applicant is compoased based on the most favourable conditions of the investors. The offer is submitted via e-mail.

How much time do I have to accept a loan offer?

A loan offer is valid for 3 days.

Can I get a loan in cash?

No, MONEYZEN does not grant loans in cash.

What is the annual percentage rate?

The annual percentage rate (APR) is an informative parameter calculated as annual percentage and shows total cost related to the use of loan (interest, loan contract fee, other loan expenses).

As the procedure and formula for calculating the APR of consumer credit loan has been established by a regulation of the Minister of Finance (of Estonia), it must be used by all lenders issuing consumer credit (granting loans to private persons), such as banks, leasing companies or quick loan providers. This means that loan offers of the same type (such as small loan, home loan) submitted by different lenders can be more easily compared.

Annual percentage rate depends on the loan amount, loan term and other conditions – interest, contract fee, any other single or regular expenses, etc. Thus, loans of the same type granted by different lenders (e.g. study loan, home loan, small loan) have different annual percentage rates.

How is the loan amount reimbursed?

Having accepted the loan offer and concluded the loan agreement, MONEYZEN will transfer the amount to your MONEYZEN virtual account. You can confirm payments from virtual account to your personal bank account on the settlement page. It is possible to transfer money from MONEYZEN to the personal bank account from which you made a 1 eurocent payment.

When can the loan amount be reimbursed?

You can confirm the money transfer from virtual account any time, but transfers to your personal bank account will be validated from Monday to Friday from 9 am to 5 pm. It is possible to transfer money from MONEYZEN to the personal bank account from which you made a 1 eurocent payment.

How can I make the loan repayments?

The borrower is obligated to ensure availability of the neccessary amount on the virtual account in order to fulfil the loan agreement condition. The portal administrator debits an instalment specified in the payment schedule automatically from the personal virtual account of the borrower.

Can I refinance more expensive loans with the loan from MONEYZEN?

Yes, MONEYZEN is ready to consider refinancing of customers' obligations from quick loan companies, including Credit24, SMSRaha, SMSLaen, BestCredit, SMSMoney, Ferratum, Monetti, YesCredit, Credit, Ekspressraha etc., at more favourable conditions. MONEYZEN can also refinance loans of Omaraha and Bondora offering more favourable interest rates. The preconditions include responsible payment behaviour of the customer, the availability of constant and regular income and the age of 18-73 years. Refinancing is possible in case of accurate payment behaviour and good solvency.

Could taking a loan from MONEYZEN prevent or complicate taking a bank loan?

If you have always fulfilled your financial obligations in time, it should not affect the loan decision of a bank. Consumer loan is a common financing method as well as any other loan or leasing. If necessary, MONEYZEN can issue relevant confirmation to our customers that explains the lack of debts and obligations to MONEYZEN.

Can somebody else take a loan using my personal data?

No. While processing the loan application our loan administrators verify the data and identity of every loan applicant. The ID card PIN-codes are personal information that should be kept secret from anybody else, including your family members.

What risks should be taken into account when taking a loan?

The greatest risk in borrowing is a situation, in which the borrower cannot fulfil the loan obligations in time. This situation is bad for the lender as well as the borrower. The lender must make additional efforts to receive the loan installments, while for the borrower repayment of the loan will become more expensive due to the fees related to late payments and penalties.

What to do in case of late payments?

Life is constantly changing and sometimes unforeseeable situations can occur. In case there is a risk that the contractual obligation of loan repayment could delay, please contact our loan advisors at +372 5885 5553. We will find the best solution for you!

In case of late payments, the MONEYZEN debt administration procedures will be applied, which include sending the notice of debt through various channels, the borrower is charged for the notices of debt. The borrower should inform MONEYZEN of the possible delay and date of debt liquidation.

In which way my personal information is protected?

The data submitted to MONEYZEN is confidential and shall not be disclosed to third parties. The data is stored in highly secure servers, which can be accessed via restricted security measures.

What fees are charged on loans from MONEYZEN?

The MONEYZEN fees are specified in personal loan offer. Concluding the loan contract, you will have to pay a contract fee, which includes fee for the credit score and the ZenFund payment. A loan shall be repaid in monthly installments. For using the loan amount you shall pay interest and the loan administration fee. In case of late payments, the penalty and reminding fees will be charged according to price list.


1. Fulfill your financial obligations in time
2. Try to minimise (credit) obligations, especially obligations with high extra costs (high interests or fees)
3. Do not make snap decisions when taking financial obligations
4. Consider new obligations carefully, accounting for your income and expenses
5. Consult with specialists before making a financial decision

Can I submit a complaint?

The complaint can be submitted according to the Order of submission of complaints which is part of the general conditions of MONEYZEN.