Editor’s Note: Overdraft Apps provides detailed product reviews and recommendations based upon extensive research and our own hands-on testing. We may earn a referral fee when you sign up for or purchase products mentioned in this article.
Looking for the best apps that let you borrow money?
We’ve rounded up 12 of the best for you.
Whether you need a little extra to cover your bills, this month’s rent or you want to splurge on yourself, it’s nice to know you have options.
51.3% of Americans have taken out a personal loan in their lifetime. Thankfully, long gone are the days when loans were only available from major banks and the lending process was reserved for certain individuals (and certain financial eligibility). Many of today’s most popular apps for borrowing money are made for those with poor credit – so there are more options than ever.
Borrow money apps are ideal for bridging your cash flow gaps and providing flexible funding options. So read on for the top 12 you should consider downloading.
12 apps that let you borrow money (sometimes instantly)
You’re spoiled for choice if you need to borrow money with the (growing) range of apps available.
Nearly 70% of Americans in a recent survey say borrowing money helped improve their financial situation. The challenge is, each money-borrowing app is slightly different in the way it works and with lending requirements. You’ll need to find the app that meets your individual requirements.
Many will let you borrow $40 now and then increase the amount you can access to $200 or more with a little bit of good usage history.
Most of these apps provide great alternatives to payday loans, which can charge sky-high interest rates. Many of these cash advance apps also charge no interest and even offer no-fee options to get your funds.
These are some of the apps we think you should take a look at:
#1 – Albert: No interest cash advances for up to $250
Albert offers cash advances for up to $250, which is amongst the largest amounts of any cash advance app, and they are totally free for most users!1
Albert doesn’t charge interest or require you to subscribe to get cash advances. You can request money with just a few taps in the app, and have it sent to an Albert account in about ten minutes or to your bank account in three days with no fee. (You can have the funds sent to your bank account right away as well with an optional $6.99 express fee, the only cash advance fee that Albert charges.)
There is no credit check and Albert doesn’t require you to move your direct deposit. You can qualify for up to three cash advances per pay period. Repayment is automatically set to the date of your next paycheck or benefits payment, but you can easily move this to be earlier or later. There are no late fees.
The Albert app is free to download and also gives you a great set of tools to help you manage your money, better understand your spending, and achieve your savings goals.
No interest cash advances up to $250 >>> Get the Albert app ????
#2 – PockBox: When you need to borrow up to $2,500 fast
If you need more cash than most cash advance apps offer to new users, PockBox is a great way to see how much you can borrow.
Answer just a few quick questions, and PockBox will instantly fetch loan quotes from up to 50 lenders, so you can find the offer that works best for you. Loans start at $100 and you may be able to borrow up to $2,500. With most lenders you can get your loan by the next business day, and sometimes even faster.
PockBox is free to use and there’s no obligation. Many lenders on PockBox specialize in borrowers with bad credit, so even if you’ve been turned down elsewhere, you may still qualify for a loan through PockBox.
Compare loan offers for up to $2,500 >>> Check out the free PockBox app ????
#3 – MoneyLion: Low cost $250 cash advances from a full-featured financial app
With MoneyLion Instacash, you can quickly borrow up to $250 with no credit check, no interest, and no monthly fee.
Setup your MoneyLion account with InstaCash and you’ll be instantly eligible for a $25 cash advance. Your amount can quickly increase to up to $250 as you receive direct deposits in your existing bank account, or move your direct deposit to a MoneyLion RoarMoney account. You can get as many Instacash advances as you like, up to your eligible amount.
MoneyLion can get your cash in 48 hours for free. If you need your money faster, you have it almost instantly by paying a $3.99 fee to have it deposited into your MoneyLion RoarMoney account or $4.99 for it to be sent to your bank account.
Cash advances are just one part of the full-featured MoneyLion app, which also includes convenient tools for digital banking, automated investing, credit building loans, budgeting and financial tracking, and rewards.
Get cash advances up to $250 with no interest >>> Check out MoneyLion ????
#4 – Cleo: $100 cash advances plus wise-ass money hacks
Cleo is an AI-powered financial assistance app that can provide you with no-interest cash advances for up to $100 almost instantly. She’s also a hilarious wise ass.
Yep, you read that right.
Cleo uses artificial intelligence – plus hilarious memes, wisecracks and even the occasional yo mama joke – to get you to like paying attention to your finances. The Cleo app helps you track your spending, save automatically, and even earn cash-back rewards.
Or, in her own words, she’s an “app that doesn’t suck”.
Download the Cleo app (it’s free) and set up an account (also free) and you’ll receive powerful insights and tips to get a better handle on your finances. But, prepare to be put in your place while you’re at it because if you could be doing better with your money, Cleo will 100% let you know!!!
Cleo’s top Features include:
- ‘Roast Mode’ if you need a little tough love on your spending habits
- ‘Hype Mode’ if you prefer to be complimented on your financial habits
- A credit-building card (with no credit checks and no interest; subscription required)
- Money-saving tools
And of course, cash advances of up to $100
When you need a $100 cash advance with no credit check, Cleo will send funds directly to your linked bank account. There is no interest, no credit check, and no need to submit timesheets, making Cleo a great option if you deliver for DoorDash, drive for Uber, or do other gig work.
Funds typically take 3 – 4 business days to land in your bank account. However, if you want instant funds, you can simply pay a $3.99 express fee to get your money inside 24 hours.
If you want to see how this AI-powered chatbot can help you manage your finances, set budgeting goals, build your credit and save your money, click below to try it out for yourself.
Get Started in 2 Minutes (And Borrow up to $100) >>> Check Out Cleo’s Sass????
#5 – Dave: Instant $500 cash advances with no interest and no credit check
Dave invented the cash advance app, and today has millions of users who turn to it to borrow up to $500 with no interest and no credit check2.
Unlike many other apps, you can request a Dave cash advance as soon as you sign up, and receive your funds instantly (seriously, like in under a minute!) via Dave Debit MasterCard; there is a $1.99 – $9.99 express fee. You can use your Dave debit card at the millions of merchants who accept Mastercard, and even take advantage of up to 10% cash-back at popular restaurants and retailers, plus some limited special offers like 50% cash-back on your next order from Shake Shack!
If you’re not in a rush, you have have Dave transfer your cash advance to your bank account within three business days with no fees. (You do need to subscribe to Dave for $1 per month to access cash advances plus some additional features.) Your advance will be automatically repaid when you receive your next paycheck, but if you happen to need some extra time, Dave charges no late fees. You can borrow again once your advance has been repaid.
Get a cash advance for up to $500 instantly >>> Check out Dave ????
#6 -Brigit – Borrow up to $250 in fee-free overdrafts
Brigit offers instant cash advances to help you in a pinch, whether it’s for paying bills, emergency expenses, or simply accessing the funds you need to live your life.
You can get approval for a loan amount between $50 to $250 per pay period – with your specific amount based on your ability to comfortably repay.
It’s worth noting, Brigit’s free plan has limited features that don’t include cash advances. You can unlock this service by opting for a $9.99 per month subscription.
While paying for a subscription may not seem ideal, consider the value Brigit provides. The $9.99/month fee is lower than practically any late fee you’ll encounter, making it a cost-effective solution.
Additionally, Brigit’s algorithm predicts when you may run low on funds before your next paycheck, and alerts you accordingly. As a bonus, Brigit Plus users receive up to $250 automatically when they face a cash shortage, reducing the risk of overdraft or NSF fees from banks.
Life’s unexpected expenses are inevitable, but Brigit can help you cover your bills and payments without the sky-high interest rates that other cash advance apps may charge.
Access up to $250 in fee-free overdrafts >>> Explore Brigit Now ????
#7 – Chime SpotMe: Borrow $20 right away (up to $200) with no overdraft fees
Chime SpotMe® can provide you with up to $200* in fee-free overdrafts.
Millions of people are downloading Chime to manage and borrow money on their terms using the SpotMe feature. This lets you overdraft your account via debit card purchases or ATM withdrawals with no overdraft fees (limits start at $20 and can be increased up to $200).3
Even better, there’s no cost to enroll in SpotMe, and once you set up your account to receive a qualifying direct deposit of $200 or more a month, Chime will cover up to $200 in overdrafts on your account – without charging you overdraft fees!
Here’s an example of how SpotMe can help you avoid expensive overdraft fees:
A casual dinner with your family comes to $65, but you only have $50 in your bank account. If you use your bank debit card to pay for this meal, you’ll be hit with an overdraft fee of $35 or more, meaning dinner could wind up costing you $100! (Plus, your bank may decline your transaction, creating an embarrassing situation). But if you’ve set up SpotMe (and have your paycheck regularly deposited into your account) and use your Chime debit card to pay for that meal, the $15 overdraft is covered with no fee to you. And the next time you make a deposit to your Chime account, the $15 negative balance will be instantly cleared.
SpotMe doesn’t have high overdraft limits. But you can see how much you can spend in the app to help avoid fees (and those unwanted moments when your transactions are declined). You can access $20 in overdrafts right away and grow your limit over time.
Get fast access to fee-free overdrafts >>> Sign up for Chime in less than 2 minutes ????
#8 – SeedFi: A loan designed to boost your credit score
If you have poor credit or no credit history, SeedFi’s Credit Builder Prime is a good first step to take to start improving your score. There’s no credit check to get Credit Builder Prime – whatever score you have now won’t impact your ability to get this product. You can establish and improve your credit since payments are reported to the three major credit bureaus – on-time payments can help boost your credit score4 – and you can also end up with savings in the bank that you didn’t have before.
When you sign up for Credit Builder Prime, SeedFi opens a $1,000 line of credit in your name. You decide how much you want to draw, anywhere from $10 – $40, from the line of credit each pay period. SeedFi deposits this amount into a locked savings account in your name. Each draw is a small, interest-free credit builder loan, and, when you get your paycheck, you simply pay SeedFi back – no fees, no interest.
Credit builder apps like SeedFi report your payments to the three credit bureaus, so with each payment you are boosting your savings and your ability to build better credit.
Once you save $500, SeedFi gives you access to it. It’s your money, so you can move it to another bank, use it to pay bills, or hang on to it and grow your savings.
So you’re saving AND growing your credit at the same time. Plus, there is no up-front cost, no interest and no fees. You keep 100% of the money you save!
Find Out More >>> Check Out SeedFi ????
#9 – Earnin: Get up to $500 with no fees
If you want to be able to borrow $100 instantly, per day, in just a few minutes – and with NO FEES – then the Earnin app is a must-have on your phone.
Earnin gives you fast and easy access to up to $100 per day and up to $500 per period. Download the free Earnin app, create an account in just a few minutes and you can borrow money right away, as soon as you’re verified. There is no credit check and you don’t need to setup direct deposit.
Earnin links to your existing account and gives you advances against your next paycheck. If you’ve worked this pay period (either for an employer or a gig company like DoorDash, Uber or Lyft) but haven’t been paid yet, Earnin gives you instant access to your earnings.
Cash is deposited into your existing bank account, usually in under 30 minutes, so you can use it however you like – withdraw cash at an ATM, pay for purchases with you debit card, or make sure that a check or bill payment gets paid on time. It’s a great way to get cash when you need it without paying overdraft fees. Your advance will be automatically repaid when you receive your next paycheck, and you can use Earnin to cash out again whenever you need to.
Best of all, you can cash out with Earnin absolutely free. There are no mandatory fees. You will be encouraged to leave an optional tip, but whether you tip or not won’t impact your ability to make future cash outs.
Find Out Everything You Need to Know >>> Read Our Full Earnin App Review ????
#10 – Current: Borrow up to $200 with fee-free overdrafts
Current is a money borrowing app that gives you ability to instantly borrow $200 with no interest or fees. There’s no credit check either.
With Current you get nearly all of the features you use a bank for, straight from your phone. Sign up for Current and you’ll get a Current debit card, which you can use at the millions of merchants that accept Mastercard, or withdraw cash from nearly 40,000 ATMs with no-fee.
You can also cash checks right in the app, and even earn rich cash-back rewards when using your debit card, such as 4% at tons of local and national restaurants, and 2% back at brand-name gas stations.
According to Certified Financial Education Instructor and founder of Money For The Mamas, Kari Lorz, it’s these additional features that can turn a good money borrowing app into a GREAT one. She explains…
“You should look for a cash advance app that has other features, like budgeting & saving tools. Both Albert & Current offer great budgeting features. Current even offers Savings Pods, so you can save for multiple things at a time (even earning 4.00% APY on your savings)! You can have an emergency fund, save for your kiddo's braces, and save for a weekend getaway! These pods are kept separate, so you never mix up what money is for what purpose.”
The most popular feature however is Current Overdrive, which gives you instant access to up to $200 in no-fee overdrafts in debit card purchases. Unlike many other apps, you don’t need to plan ahead for when you’ll need extra cash.
Just make qualifying direct deposits to your Current account, and Overdrive will kick-in whenever you need it, so you can avoid the inconvenience, embarrassment and high fees of making your purchase when you don’t have enough money in your account.
Get up to $200 whenever you need it >>> Check out the free Current app ????
#11 – B9: Access up to $500 of your wages early
B9 offers instant advances on your paycheck so you can cover cash shortfalls between now and payday.
As a membership-based cash advance, B9 comes with just ONE fee. There are no express fees (you can get up to 100% of your paycheck), no optional tips (you keep your money), and no late fees.
You can choose between two membership options.
- Basic: $9.99 per month for advances up to $100
- Premium: $19.99 per month for advances up to $500
Despite the flat fee, B9 ranks as the second-lowest-cost app for borrowing $100!
You can apply for a B9 cash advance after your employer has deposited at least ONE paycheck into your B9 account. The amount of Advance you’re eligible to get will be based on your B9 Account history, payroll direct deposit frequency and amount, and other factors determined by B9, and may change from time to time – according to B9’s terms of service.
A handy addition for gig workers, B9 considers income from multiple streams. You could drive for Uber on the side of your full-time job, receive government benefits, make money online, or any other side hustle – and B9 acknowledges your income!
Your B9 cash advance is based on your unpaid earnings not your credit score. So you can still enjoy an advance even if your credit score is poor.
Access up to $500 of your wages early >>> Check out B9 ????
#12 – Empower: $250 cash advances but plenty of fees to watch out for
Empower provides immediate cash advances of up to $250 to assist you in bridging the gap until your next paycheck or covering unexpected expenses.
You can be approved for an initial amount of $75, which is a significant increase compared to other apps like Cleo and Grid Money, which typically offer limits between $20 and $50 initially. No credit check is required; instead, Empower securely connects to your bank account through Plaid and determines a borrowing limit based on your ability to repay comfortably.
Once approved, you can choose to have your Empower cash advance deposited into your bank account within minutes (this will incur a small delivery fee). Or, go for a fee-free transfer to save money (this will take one business day).
Empower lets you ‘Try Before You Buy’ with an 8-day free trial. After the trial period ends, you will be billed an $8 monthly subscription fee, which is lower than the fees charged by apps like Brigit ($9.99/month) and B9 ($9.99 – $19.99/month).
|???? Overdraft Apps Tips: We analyzed the costs of borrowing $100 from the 15 most popular cash advance apps and found that the average cost is $16.35. Empower was the most expensive option out of all 15 apps!|
Enjoy up to $250 of your wages early >>> Check out Empower ????
How to choose the best money borrowing apps on Android or iPhone
Overwhelmed with choices?
Certified financial planner Gabriel Lalonde, of MDL Financial Group, recommends doing your homework before making any decision. He explains, “my first tip for anyone looking to download a cash advance app is to do your research. There are many different apps available, and each one has various features, fees, and requirements. Take the time to read reviews and compare the options before deciding which one is right for you”.
Start by thinking about how much you need to borrow. If you need more than $500 you can immediately rule out many of the smaller dollar apps like Go2Bank and Cleo.
Next, consider what your personal credit score is. Poor credit history may cause many lenders to refuse to lend to you. Yet some, such as MoneyLion, will lend you money without ever referring to your credit file.
Finally, consider what other users are saying about specific money borrowing apps. A low app store score does not necessarily mean you will experience similar frustrations. But it helps to see what other app users think.
Whether you sign up for some type of overdraft coverage or use apps like Dave or apps like Earnin, just remember there are a number of resources that can put cash in your pocket – almost too many to mention.
Additional cash advance apps like Payactiv, Grid, Line app, and Klover also increasingly popular.
Financial terms glossary
Borrowing with a money app is a financial commitment and knowing what you are agreeing to is important. Understanding the terms most commonly used will help you stay on top of your financial obligations.
Here are the most important terms you should know about.
- Annual Percentage Rate (APR): is the interest you pay on a loan over a yearly period. Consistently comparing interest rates on an annual basis is important as interest rates can appear to be low when quoted on a daily or monthly basis, when in fact the rates may be comparatively high. Note that some apps charge no interest.
- Loan amount: The total amount you are borrowing is also called the loan principal or loan size. This is the amount you receive in your bank account. Your total repayments will often be higher than your loan amount due to interest and other charges.
- Loan term: The term of your loan is the repayment period. Your loan will be repaid at the end of the term unless you extend the loan. Money borrowing apps can feature short loan terms of days and weeks but most loans are measured in months or years.
- Late charge: Also known as a missed payment charge, this is the amount you will be charged if you do not make a scheduled payment on time. Lenders charge this to discourage borrowers from missing payments and to compensate the lender for processing costs.
- Credit score: Your credit score is based on your previous borrowing history. This includes your track record for making payments on time and for fully repaying loans. Lenders use your credit score to decide whether lending to you presents a high risk. Many money apps will consider borrowers with poor credit scores.
Final thoughts on the best borrow money apps (and what to do next)
Everyone’s approach to borrowing money via a loan app will be different.
The options listed in this guide can all put money in your account and help you meet your financial obligations (or splurge on something for yourself). But your specific needs will determine which is best for you.
The latest figures show that 35% of Americans would struggle to cover an unexpected $400 cost, so if you’re strapped for cash, the borrow money apps we’ve listed here can help remove some of the pressure of unpaid bills and expenses for school, family and other necessities.
|???? Overdraft Apps Tip: More important than the loan app you choose, ensure you repay your loan in line with the repayment schedule you agreed to, recommends certified financial planner, Alex Williams. He explains, “Repayment flexibility is the feature that offers the most value to cash advance app users. It will accommodate individuals if they have issues repaying the loan by extending the return date”. For apps that automatically take repayments, you need to make sure you always have the funds available. For loans repaid manually, set a calendar reminder for yourself to make sure you don’t miss any payments.|
Many money borrowing apps will let you borrow at least $20 instantly and will increase that amount to $200 or more with just a short history of responsible use. Avoid payday loans, as they can put you in a costly cycle of high-interest debt that can be tough to break out of.
Remember to carefully review the terms, conditions, and fees of the borrow money app you choose, and you’ll have all the information you need to make an informed choice and get the funds you need to move forward in life.
BEFORE YOU GO… Check out our most popular articles:
- Need More Cash? Check out these $500 instant loan apps ????
- Apps Like Grid Money (Without the $120 Annual Subscription) ????
- Easy way to build your credit for just $5/month ????
- Our OFFICIAL Reviews: 9 Best Cash Advance Apps of the Year ????
- Quick and Easy Ways to Withdraw Cash from the ATM (When You Have None) ????
WAIT! High overdraft fees aren’t the only way your bank is costing you money.
With inflation overheating, you’ve probably heard that interest rates are climbing sharply. That means that for the first time in years, it’s a great time to shop around for a high interest savings account.
The national average interest rate for savings accounts is currently 0.23% APY – that means that if you have $2,500 in a savings account, you’d earn just $5.76 after one year! Move those hard-earned savings to an FDIC-insured bank paying 3.50% APY and you’d earn $81.73 more!
Don’t let your hard-earned savings sit there doing nothing. Check out the rates that you can earn at other banks:
- Apps Like FloatMe: Go From $50 to a $500 Cash Advance - May 24, 2023
- How to Borrow $50: Instant Loan Apps for a Quick Fifty Bucks - May 23, 2023
- Get Emergency Cash Immediately: 10 Best Apps That Loan You Money Instantly - May 21, 2023
- Download the Albert app to see if you qualify. Repay the advance with your next paycheck. Fees may apply. Advance amounts based on qualification and may vary. Albert is not a bank. Banking services provided by Sutton Bank, Member FDIC.
- ExtraCash™ is a DDA account with overdraft utility that is subject to eligibility requirements. Taking an ExtraCash™ advance will make your account balance negative. Express delivery fees apply to instant transfers. See the Extra Cash Account Agreement for more details.
Chime SpotMe eligibility requirements and overdraft limits: Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Spending Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Friends transfers, or Chime Checkbook transactions. See Terms and Conditions .
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
- Based on a simulation conducted with TransUnion® data, customers who opened a SeedFi Credit Builder Plan from March 2021 through August 2021 would have shown an average increase of 41 points on their VantageScore 3.0 credit score if they had added a Credit Builder Prime to their credit profile and made on-time payments on all of their credit accounts for 6 months. Individual results may vary, and late payments can have a negative effect on your credit score. Personal loans and banking services provided by SeedFi’s bank partner, Cross River Bank, Member FDIC.