Money Loaning Apps That Support Chime

The Best Money-Loaning Apps on the Market place: Reviewed and Rated

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When borrowing money, your options include going to a bank or turning to friends or family. However, a new choice is becoming increasingly popular: Money-loaning apps allow you to borrow quickly and easily without having to go through the hassle of dealing with a bank. In this article, we will review the best money-loaning apps on the market and assistance you determine which one is correct for you lot!

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Chime Logo

Chime Logo

OVERVIEW

If y’all’re looking for a quick and easy way to go a loan, Chime is the perfect app for you. The fintech company backside it works past issuing Visa debit or credit cards to users, earning most of its revenues from interchange fees. With its unproblematic interface and fast approval procedure, you lot can get the money yous need in but a few taps. And if you lot’re worried nearly involvement rates, don’t exist – Chime comes with no interest rates or overdraft fees.
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  • All accounts are FDIC insured
  • No overdraft fees
  • Easy to authorize for

Minimum credit score:


None

Maximum loan corporeality:


$200

Funding fourth dimension:


Up to five business days

Brigit Logo

Brigit Logo

OVERVIEW

Brigit is i of the best apps for lending money that offers users quick and easy access to cash when they need information technology. The app is designed to aid users avert expensive late fees and overdraft charges, and it offers the Free programme at no monthly accuse and the Plus program at $ix.99 a month. Brigit is a smashing option for anyone who needs a brusque-term loan, and it is an peculiarly skilful choice for those who may have trouble qualifying for a traditional depository financial institution loan.
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  • No credit bank check
  • No involvement or tip fees
  • Identity theft insurance

Minimum credit score:


None

Maximum loan amount:


$250

Funding time:


One to three business organization days

Dave Logo

Dave Logo

OVERVIEW

Dave is an app that offers short-term loans to cash-strapped individuals. Unlike many other loan providers, Dave does not crave a credit bank check or collateral. Instead, the app uses data from your bank business relationship to assess your financial state of affairs and determine your loan amount. If you need quick cash, Dave is a convenient and accessible choice.
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  • $500 maximum advance
  • Low monthly membership fee
  • No tardily or hidden fees

Minimum credit score:


None

Maximum loan amount:


$500

Funding time:


One to three business days

Earnin Logo

Earnin Logo

OVERVIEW

The Earnin app allows people to access earned wages before payday, simply avoid high fees and interest rates associated with payday loans. This app for borrowing money is gratis to download and use. In that location are no monthly fees or subconscious charges.
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  • Early paycheck access
  • No fees or involvement
  • Fast funding

Minimum credit score:


None

Maximum loan amount:


$500

Funding time:


I to two business days

MoneyLion Logo

MoneyLion Logo

OVERVIEW

If you’re looking for a convenient, affordable, and flexible way to get a loan, so you lot should definitely check out MoneyLion, one of the best apps for loaning money. With MoneyLion, yous can apply for a loan someday, anywhere – all you need is your phone. And considering loans are based on your fiscal history and non your credit score, you’re more probable to be approved for a loan with MoneyLion than with a traditional lender.
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  • Large free ATM network
  • 0% April cash advance
  • No minimum balance

Minimum credit score:


None

Maximum loan amount:


$250

Funding time:


Up to two business days

Finding the Best Money-Borrowing Apps: Our Methodology

On our journey to detect the all-time money-loaning app, we looked at a variety of factors.

Offset, we considered the interest rates that each app charges. We besides looked at the fees associated with each loan and the repayment terms.

Finally, nosotros took into account the customer reviews for each app to get a sense of what users think about their feel. Read on to notice out why each of these factors is important.

Interest Rate

When choosing a money borrowing app, it’s important to consider the interest rate that will be applied to your loan. The involvement rate will determine the total amount of money you lot’ll need to repay, so it’s important to cull an app with a competitive rate.

In that location are a few factors that will touch on the involvement rate offered past a borrowing app, including your credit score and the length of time yous need to infringe the money. In general, the college your credit score, the lower the interest charge per unit you’ll be offered.

And, the longer you need to borrow the coin, the higher the involvement rate volition exist. Then, if you’re looking for a low-interest loan, information technology’southward important to take good credit and only borrow for a short period of time. Otherwise, you may end up paying more in involvement than you lot’d like.

Fees

When choosing a coin-loaning app, it’s essential to consider the fees associated with each one. Typically, these apps charge a service fee, which is a percentage of the loan amount, also as a belatedly fee if yous don’t repay the loan on time.

Some apps also have origination fees, which are charged when you lot start accept out the loan. While these fees may seem small, they tin can add up chop-chop, and so it’s of import to choose an app that has reasonable fees. In addition, some apps allow you to choose how yous desire to repay your loan, and so you can choose a programme that fits your budget.

Tips requested by some money-loaning apps from our list are another thing to consider, as they will touch on the beak you will be ground when using these companies’ services. These optional tips achieve up to xx% of the advance or can be capped at a certain amount.

By carefully considering the fees associated with each app, y’all can ensure that you choose the one that best meets your needs.

Loan Repayment Terms

When choosing a money-lending app, loan repayment terms are ane of the virtually of import factors to consider.

The repayment term is the length of time you have to repay the loan, and information technology tin can have a big impact on the overall cost of the loan.

A longer repayment term volition typically result in a lower monthly payment, but it will too mean that yous’ll pay more than interest over the life of the loan. A shorter repayment term usually ways a college monthly payment, but yous’ll salvage money on interest in the long run.

Ultimately, the all-time repayment term for you lot will depend on your personal financial circumstances and goals. Nevertheless, it’s important to carefully consider all of your options before making a decision.

By taking the fourth dimension to compare repayment terms, you tin can ensure that yous choose an app that best meets your needs.

Maximum Loan Amount

If you’re interested in apps that loan money, the maximum loan amount is some other matter you should take into account. This is because this amount volition dictate how much coin you can infringe at whatsoever given time.

If you demand to infringe a large corporeality of money, you’ll desire to make certain that the app you cull has a high maximum loan corporeality. Because if not, yous may have to take out multiple loans or choose a dissimilar lender altogether.

Eligibility Requirements

Eligibility requirements are some other essential factor we looked into while searching for the best money-loaning apps.

Even if yous find the app with the best interest rate and the lowest fees, you won’t be able to use it if you don’t see the eligibility requirements.

For example, some apps crave that you have a certain credit score to qualify for a loan. Others may only exist bachelor to people who live in certain states. That’southward why you need to read eligibility requirements advisedly earlier choosing an app.

Application Process

If you wish to borrow money online instantly, you’ll desire to ensure yous tin can do it quickly and easily. The all-time loaning apps make information technology piece of cake to utilise for a loan. The application process should be straightforward, with clear instructions on how to complete information technology.

The app should also provide you with an estimate of how much you can borrow and the interest rate you lot volition be charged. You should compare multiple lenders to check which has the most favorable terms before deciding which one to utilize.

In one case you have found the money loans app for your needs, it is time to fill out the application. The process should exist simple and easy to follow.

The lender will need some basic information nigh you lot, such as your proper noun, address, and contact information. They will also need to know how much money you demand to borrow and how long.

When you submit your application, the lender will review information technology and brand a decision. If approved, you’ll be able to access the funds equally soon every bit the adjacent business day.

The Best Money-Loaning Apps in 2022: In-Depth Reviews

Chinkle Review

Chime Review Logo

Minimum credit score:

None

Maximum loan amount:

$200

Funding time:

Upwardly to five business concern days

Chime is a mobile app that allows users to take out loans and earn interest on their savings. The app is available for both iOS and Android devices, and it’s i of the most popular money-loaning apps on the market.

Chime is an excellent pick for those looking for a convenient and piece of cake way to take out loans and manage their finances. The app offers a wide variety of features, including the ability to rail your spending, prepare up straight eolith, and more.

Chime comes with no monthly fees and no minimum rest fees, making it the best coin loan app for those looking to save money.

In that location are as well no overdraft fees on debit card purchases. This Chime feature is called SpotMe. If you demand help paying for an unexpected expense, Chime will spot you lot up to $200 on cash withdrawals and debit card purchases. The minimum corporeality you can withdraw is $xx and can be increased upward to $200 based on your business relationship history and activity.

If you lot need a lending manus and your payday is nevertheless a few days abroad, this early on-payday app tin can help you out. The app offers to brand a direct deposit to your online Chime checking account, allowing you to access your funds upwards to two days early on.

Chinkle takes security very seriously and offers a number of features to keep your account safe. The app uses encryption to protect your personal information and transactions. In addition, all Chinkle accounts are covered by the FDIC deposit insurance of up to $250,000.

If y’all’re looking for a convenient, easy-to-use app that offers a variety of features, Chime is a great option. The app is free to download and use, and it doesn’t charge any fees.

It’south a great solution for those who wish to avoid paying huge fees. Notwithstanding, if you wish to borrow money instantly, this app might non be the best choice as information technology takes up to v business organization days for the funds to deposit.

Reasons to Utilise:

  • All accounts are FDIC insured
  • No overdraft fees
  • Easy to qualify for

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Dave Review

Dave Review Logo

Minimum credit score:

None

Maximum loan amount:

$500

Funding time:

One to three business days

Dave is a coin lending app that allows users to access short-term loans without hassle. The app launched in 2017 with the idea of helping people cover unexpected expenses and avert overdraft fees that nigh banks accuse.

To use the service, users must beginning create an account and link their depository financial institution account. They will so be asked to provide some basic information, such as their name, address, and Social Security number.

When information technology comes to apps with a cash advance, 1 of the most important factors is their ease of utilize. With Dave, you tin can hands access the funds you lot need with but a few taps on your smartphone.

The awarding procedure is elementary and tin can be completed in just a few minutes. In one case you submit the required information, Dave will review your information and make a conclusion within minutes. If approved, the loan will be deposited into your banking concern business relationship within one business concern solar day.

One of the all-time things about Dave is that information technology comes with no interest or any unexpected fees. There’due south only a $1 fee that is taken out of the user’s business relationship on a monthly basis.

Dave’s ExtraCash™ characteristic offers loans of up to $500, which is a great way to comprehend unexpected expenses or make ends meet if you lot’re short on cash.

Using apps to borrow coin has never been easier. Dave is available for both iOS and Android devices and has all the features you need to become a loan quickly and easily.

What’s also great well-nigh this app is that all user accounts are protected with advanced security measures and FDIC-insured up to $250,000.

With Dave, you don’t take to worry about overdraft fees, minimum residuum fees, or ATM fees, every bit you can withdraw funds from 32,000 MoneyPass ATMs completely free of charge.

To summarize, Dave is a convenient and reliable way to access short-term loans. The awarding process is quick and easy, and users can receive their loan funds quickly. As i of the best money-loaning apps, Dave is an fantabulous option for those who need access to funds in a pinch and wish to avoid taking out cash advances from credit cards or drawing other kinds of loans, as they usually come up with high interest rates and additional fees.

Reasons to Apply:

  • $500 maximum advance
  • Low monthly membership fee
  • No late or hidden fees

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Earnin Review

Earnin Review Logo

Minimum credit score:

None

Maximum loan amount:

$500

Funding time:

One to three business days

If you’re looking for a quick and easy fashion to borrow money online instantly, Earnin is a great option. The app allows you to borrow up to $500, and yous tin can repay the loan over an agreed-upon flow of time. At that place are no interest or fees charged, making it an affordable option if you need cash in a pinch.

With this app, users can access up to $100 a mean solar day and up to $500 per pay period. And while well-nigh banks charge high fees for instant transfers, Earnin doesn’t charge whatsoever fees whatsoever.

If yous wish to use the app earlier your payday, all you have to do is connect your bank business relationship so that Earnin can see your direct deposit information.

The app will then advance the amount of money that you are set to receive in your adjacent direct deposit. Once you lot receive your paycheck, the app will deduct the amount borrowed plus any fees from your account.

This cash advance app is available for both iOS and Android devices and tin can be downloaded for free.

To qualify for a loan, you must take a steady income and exist employed at least role-time. Yous’ll also need to provide your bank account data so the funds can be deposited directly into your business relationship.

Overall, Earnin is a convenient and affordable option for borrowing money when you demand it. It’due south a bully pick for those who demand quick and piece of cake access to greenbacks.

However, if you’re self-employed or don’t take a regular income, you will probably have to expect for some other accelerate money app.

Reasons to Apply:

  • Early paycheck access
  • No fees or interest
  • Fast funding

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Brigit Review

Brigit Review Logo

Minimum credit score:

None

Maximum loan amount:

$250

Funding time:

1 to iii business organisation days

Brigit is a money-loaning app that offers users up to $250 in greenbacks advances. The app is designed to help people cover unexpected expenses, such as an emergency automobile repair or a last-minute bill.

Brigit is available to users in all 50 states and the Commune of Columbia. The app is free to download and use, and in that location are no hidden fees. To use the app, users must first create an account and link their checking account. In one case the account is created, users can request a greenbacks accelerate of up to $250.

One of the all-time things about this app is the fact that it doesn’t charge any involvement or perform any credit checks on its users. This makes it a great choice for people with poor or no credit.

Brigit has a flake different pricing structure than other cash lending apps on our listing. It charges a $9.99 monthly membership fee for financial tools and funds.

With this membership, users get access to the credit architect characteristic, get instant deposits, and cash advances. In add-on, Brigit promises to comprehend all their assets with $1M worth of insurance if they get victims of identity theft.

Brigit is an excellent culling to traditional payday loans as it doesn’t require whatsoever credit checks, and you’re only charged when you lot use the app.

If you lot detect yourself in a fiscal bind and need access to quick cash, cash advance apps are an ideal choice. With instant deposits and no interest or credit checks, Brigit is a viable option for those who can’t become traditional loans. Just be enlightened of the monthly membership fee.

Reasons to Apply:

  • No credit check
  • No interest or tip fees
  • Identity theft insurance

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MoneyLion Review

MoneyLion Review Logo

Minimum credit score:

None

Maximum loan amount:

$250

Funding time:

Up to ii concern days

MoneyLion is a loaning app that offers users quick access to cash when they need it. The app is designed to exist used by people who may not have admission to traditional banking products, such as credit cards or personal loans.

MoneyLion offers multiple products and features, and ane of them is the Instacash℠ advance which allows users to get up to $250 anytime.

The thing that makes MoneyLion i of the best apps to borrow money from is that its greenbacks advance comes with no monthly fee, no interest fee, and no credit check. This makes it a bang-up selection for people with poor or no credit.

In add-on to all these perks, MoneyLion allows users to withdraw funds at any of the 55,000+ Allpoint® locations with no ATM fees. In that location are a few fees you might encounter, but MoneyLion is pretty transparent with those.

In that location is a iii% strange transaction fee and an authoritative fee of $1. You can check the full list of boosted fees directly on the website.

Another thing we like most MoneyLion is that it offers its users a 0% APR greenbacks advance. All y’all have to do to qualify for this is link your checking account to your MoneyLion account. Like other early on-payday apps, MoneyLion tin can be used for annihilation from automobile repairs to medical bills.

This is a great choice for people who are trying to amend their credit score merely don’t want to pay the high involvement rates that come up with traditional loans.

RoarMoney℠ is some other excellent feature that allows users to get paid up to two days early, without having to await for their paycheck.

All things considered, MoneyLion is a decent option for people looking for an alternative to traditional banking products. The app is easy to utilise and offers a variety of features that go far a good choice for anyone who needs a quick emergency loan.

Reasons to Apply:

  • Big gratis ATM network
  • 0% April cash advance
  • No minimum residuum

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FAQ

Are money lending apps legit?


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Yeah, apps that lend money are legit. They are a convenient and easy manner to access short-term loans. However, it is important to note that these apps come with different terms and conditions. Therefore, you lot should always get acquainted with all the details before agreeing to whatever loan.

What bank apps pay you lot instantly?


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There are a few bank apps that offer instant payments. These include the Cash App, PayPal, and Venmo. To receive your payments instantly, y’all volition need to have a linked bank account or debit menu.

Although this might exist extremely convenient, note that there are fees associated with these services, and you lot should always carefully read the fine print before signing up to borrow money from an app.

Practise you lot demand a bank account for coin lending apps?


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Yes, most money lending apps will require y’all to have a linked banking concern account. This is considering the lenders will eolith the loan funds into your account and will too withdraw the repayment amount on the scheduled due date.

If you practise not have a bank account, you might even so be able to find a lender that offers culling methods of repayment. Withal, these loans will likely come up with higher interest rates and fees.

What is the best app to borrow money?


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We’ve institute some of the best money-loaning apps out in that location are Dave, Earnin, Chime, Brigit, and MoneyLion, every bit all are reliable and trustworthy. Of form, you’ll need to do comparison shopping to select the right one for you, every bit these companies’ services differ in terms of interest rates, loan amounts, and eligibility requirements.

Source: https://fortunly.com/loans/best-money-loaning-apps/