Monese the latest to debut credit building ‘savings-loan’
After acquiring income smoothing fintech Trezo just last month, Monese is now rolling out a Credit Builder service for all its existing customers.
Credit Builder acts like a reverse-loan, similar to that offered by Loqbox, with 12 monthly repayments that Monese locks away when you initiate the loan, meaning there’s no risk of the borrower defaulting.
At the end of the period, all the money is returned to the customer, leading some to dub it a ‘savings-loan’.
