Unsecured loan up to €15,000

An unsecured loan can be useful when you need financial flexibility but do not want to pledge property, a car, or other assets as collateral. With Monefit, you can apply for a flexible credit line of up to €15,000 without collateral.

Monefit works as a reusable credit line. If approved, you receive access to a personal credit limit, withdraw only the amount you need, and repay according to the applicable terms.

Apply online and manage your credit line digitally.

---

What is an unsecured loan?

An unsecured loan is a credit product that does not require collateral. This means you do not need to secure the credit with property, a vehicle, savings, or another asset.

Instead, the lender assesses your application based on your financial situation, income, existing obligations, repayment ability, and other relevant creditworthiness factors.

Unsecured loans are often used for personal expenses such as home repairs, car repairs, larger purchases, medical costs, or unexpected bills.

With Monefit, the product is a credit line without collateral. You receive access to a credit limit and choose how much to use within that limit.

---

Secured loan vs unsecured credit line

A secured loan uses an asset as collateral. For example, a mortgage is secured against property, and some vehicle loans may be secured against the car.

An unsecured credit line does not require this type of collateral. Instead, the decision is based on a creditworthiness assessment.

Secured loan	Monefit unsecured credit line
Requires collateral	No collateral required
Often linked to a specific asset	Can be used for different personal needs
May involve longer application processes	Digital application
Usually paid out as one fixed amount	Flexible reusable credit limit
Asset may be at risk if repayments are not made	No pledged asset, but repayment obligation still applies

Even though no collateral is required, borrowing remains a financial commitment. Missed payments can lead to additional costs and may affect your credit standing.

---

When can an unsecured loan be useful?

An unsecured loan or credit line may be useful when you need access to credit for personal expenses and do not want to use an asset as security.

Common examples include:

• Home repairs or improvements
• Car repairs and maintenance
• Unexpected household bills
• Medical or dental expenses
• Larger personal purchases
• Temporary financial flexibility
• Planned expenses where the final cost is uncertain

Before using credit, always consider the total cost and whether the repayments fit your budget.

---

Why choose Monefit for an unsecured loan?

Monefit is designed for people who want a flexible digital credit product without collateral.

No collateral required

You do not need to pledge property, a vehicle, or other assets to apply.

Credit line up to €15,000

Depending on the outcome of your creditworthiness assessment, you may receive access to a credit limit of up to €15,000.

Use only what you need

You can withdraw only the amount required for your current expense. You do not need to use the full approved limit.

30 days interest-free

Monefit offers up to 30 days interest-free, depending on how and when the credit is used and repaid.

Flexible repayment options

Repay according to the applicable terms and manage your credit line online.

Digital application

Apply online from your phone or computer and manage everything digitally.

---

How Monefit works

Applying for a Monefit credit line is simple and digital.

1. Submit your application online

Fill in the online application and provide the required information.

2. Verify your identity

You may need to verify your identity digitally as part of the application process.

3. Creditworthiness assessment

Monefit assesses your income, obligations, repayment ability, and other relevant factors before making a decision.

4. Receive your credit limit

If approved, you receive access to a personal credit limit.

5. Withdraw money when needed

Use only the amount you need, up to your available credit limit.

6. Repay according to the terms

Repay over time according to the applicable repayment terms. As you repay, available credit may become usable again.

---

Do unsecured loans cost more?

Unsecured credit does not use collateral, so the lender carries more risk than with secured lending. This can affect the interest rate, credit limit, and approval decision.

The final cost depends on several factors, including:

• The amount used
• The repayment period
• The interest rate
• Any applicable fees
• Whether repayments are made on time

Always review the full cost of credit before using an unsecured loan or credit line.

Representative example:

A credit line of €1,000, total amount paid by the consumer and the amount of repayments €1,216.58, fixed interest rate of 37.85% per annum and APR of 45.89% per annum. The credit cost rate has been calculated on the assumption that the credit line will be used in full and will be repaid in 12 equal repayments at equal intervals from the month after the credit line was put into use.

---

Unsecured loan without using the full limit

One advantage of a credit line is that you do not need to withdraw the full approved amount.

For example, you may receive access to a higher credit limit but only need a smaller amount today. In that case, you can use only the amount needed and leave the rest available.

This can be useful if costs come in stages, if the final amount is uncertain, or if you want access to flexible credit without applying again each time.

---

Who can apply?

You may be able to apply for a Monefit credit line if you meet the basic eligibility requirements and pass the creditworthiness assessment.

Typical requirements may include:

• You are at least 18 years old
• You are a resident of Estonia
• You have regular income
• You can verify your identity
• You can provide the information required for a responsible credit assessment

Approval is not guaranteed. Monefit assesses every application individually.

---

Responsible borrowing

An unsecured loan does not require collateral, but it still creates a repayment obligation.

Before applying, consider:

• Do I need to borrow?
• How much do I actually need?
• Can I afford the repayments?
• What is the total cost of credit?
• What happens if I miss a payment?
• Could I use savings or delay the expense instead?

Monefit follows responsible lending principles and only grants credit after assessing repayment ability.

---

Unsecured loan alternatives

Before choosing an unsecured loan, compare your options.

Credit line

A flexible option if you want reusable access to credit and prefer to use only the amount you need.

Small loan

Often used for smaller personal expenses with a fixed amount and repayment schedule.

Consumer loan

A common option for larger personal expenses, usually without collateral but often structured as a fixed loan.

Secured loan

May be suitable for larger amounts, but requires collateral and may place the pledged asset at risk.

Savings

If the expense is not urgent, using savings may reduce or remove the need to borrow.