Feeling short on cash, especially in an emergency, is never a good feeling. Fortunately, today it’s easy to get your hands on cash instantly using a $100 loan instant app.
I’ve rounded up the best money-loaning apps available today. I looked at the fees, annual percentage rate, ease of use, and qualifying requirements and created this top 10 list of instant money apps.
$100 Loan Instant Apps
Here are the top 10 $100 loan instant apps that you can download to get the cash you need today:
🏆 Best for Automatic Savings
The Albert app offers cash advances up to $250 when you come up short for bills or emergency expenses. There are no fees or interest charges, and they don’t do a credit check.
However, Albert’s primary offering is a checking account with a debit card. You even get a savings account that they include and will automatically transfer available funds when the system thinks you have money.
With your checking account, you can get an advance of up to $250. If you have a positive history of paying your loans back by payday, you can get up to three advances per pay period.
There aren’t any hidden fees unless you want the money instantly. You’ll pay a small fee to get the funds the same day, or you can wait two to three business days.
Get a $250 Cash Advance Right Now
Albert will spot you as much as $250 with no credit check, interest, or late fees.
🏆 Best for Small Dollar Loans
Chime is a fintech app that acts like a bank. If you need fast cash for a $100 loan, you must have a Chime bank account before you can use their SpotMe® service.
The Chime bank account is called a Spend account. It’s a checking account with no minimum balance requirement. There also aren’t any fees.
All checking account customers can use the SpotMe® service, which provides instant cash when you get low. However, to qualify, you need qualifying direct deposits of at least $200, and you must fill out an application. The good news is there is no credit check.
Chime doesn’t charge for their SpotMe® service, but you’re limited to $20 at first. Once you use the service and prove you can pay it back on time, they may increase your limits to $100 or more.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
Chime SpotMe® is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. 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 Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions
🏆 Best for Repeated Cash Advances
Dave is another one of the apps that loan you money. You can borrow up to $250 between paychecks, but there is a $1 monthly fee. Dave doesn’t charge interest or have other hidden fees. However, like most of the best cash advance apps, you will pay a fee if you want an instant loan transfer.
Dave doesn’t do a credit check. Instead, they use your banking and Dave history if you have one. If you’ve used the Dave app before, they’ll look at the average loan balance, the frequency you borrow money, and how well you pay the loans back.
Your employer must direct deposit your check into your Dave account to use Dave. This way, Dave can automatically withdraw payment when you get paid. The nice thing about sending your paycheck directly to the Dave app is you can access your funds up to 2 days early with no fee.
If you need an instant loan transfer, it will cost you $4.99, which is a little higher than other apps to borrow money.
🏆 Best for Hourly Employees
A paycheck advance app provides access to your paycheck early, and Earnin is one of the most popular apps to offer this service. It tracks the hours you worked with either a timesheet or using your location (with your permission) to give access to the funds you’ve earned.
Once you earn money, Earnin allows you to access it with a payday advance. At first, you can borrow up to $100 at a time and up to $500 per pay period. It can take up to three days to receive the funds in your checking account, but you can pay for a Lightning Speed transfer to get it in hours.
Earnin doesn’t charge interest, but you can ‘tip.’ This is almost like paying interest or a fee for borrowing money.
🏆 Best for Budgeting
Brigit is a budgeting app that also offers access to quick cash when you need it. You can borrow up to $250, but only if you use the paid plan, which costs $9.99 per month. Brigit’s instant cash loans are in your bank account within hours if you request them by 10 AM Eastern Time; otherwise, they will be there by the next day.
Brigit sets up your repayment terms based on how often you get paid. You may be eligible to extend your due date, but they limit the number of times you do this. They allow you to extend your due date once for every two loans you pay back on time.
🏆 Best for Shopping Around
CashSpotUSA is an instant cash advance app that offers instant loans starting at $100. You can get money the same day, and the application process takes only a few minutes. CashSUSA doesn’t fund the loans themselves, though. Instead, they are a marketplace that brings together lenders and borrowers.
After completing an application, you’ll hear from lenders that have a loan for you. Most lenders don’t check your credit history or ask for any other documentation. CashSpotUSA doesn’t charge fees, but the lenders they work with might. So before accepting a cash advance online from any lenders, make sure you read the fine print.
Ask the lender about the interest rate, fees, and repayment terms before you borrow money instantly from one of their lenders.
🏆 Best for Trimming Expenses
With Empower.me, you can receive a cash advance for up to $250. They don’t charge interest or late fees, and they don’t do credit checks. If approved, you can have the money sent to an Empower debit card instantly or an external bank account.
Empower looks at your bank account history, average direct deposit amounts, and general history to qualify you for a loan. They need to ensure you can afford to pay the loan back using your next paycheck.
Empower is free for the first 14 days but costs $8 a month. Along with cash advances, Empower helps you get better control of your money by cutting unnecessary expenses and learning where you can save money so you don’t have to rely on cash advance loans.
🏆 Early Access to Your Paycheck
Payactiv is an employer-based payday loan app. If your employer signs up for the app, they can offer it to employees as a benefit. The most significant benefit is early access to your paycheck. In addition, your employer links the app to their time system, so the app knows when you work.
With the online cash advance, you can access up to 50% of the amount you’ve earned or $500, whichever is less. If you set up a direct deposit with PayActiv, you can access up to $1,000 at a time.
It’s easy to access your funds with the paycheck advance app because they are always there once you earn them. You can leave the funds untouched and wait for payday or transfer your earned funds to your bank account or debit card.
Like most cash advance apps, PayActiv expects payment with the funds from your next paycheck.
The service is free if you use direct deposit to your PayActiv card. If you have funds transferred to your checking account, you’ll pay $1 for each transfer. However, there’s a $5 maximum fee per pay period no matter how many times you borrow money.
🏆 Best for Fast Funding
PockBox is an outstanding $100 loan instant app. So if you find yourself in a bind, needing $100, you can usually get it within one business day.
Unlike most money-borrowing apps, PockBox is a marketplace or the middleman between you and lenders. After you complete an application, which only takes a few minutes, multiple lenders will review it, and if you qualify, they’ll reach out with an offer.
Most lenders on the instant cash app offer loans up to $2,500, but you can get cash advances for as low as $100 as well. PockBox doesn’t charge a fee for their service, but the lenders that offer you a loan might. So always ask to see the total cost of the loan before accepting one.
🏆 Best for Extra Cash When You Need It
MoneyLion is a banking app, but so much more. With your checking account, you get access to cash advances. Everyone starts with $25 cash advances, but with regular direct deposits, MoneyLion may automatically increase your limit from $50 to $250.
It usually takes six to eight weeks of owning the account to reach the maximum threshold of $250.
Like most cash advance apps, there’s no credit check, and they don’t charge interest. Also, MoneyLion automatically deducts the amount you owe from your balance on your due date. The due date is usually two weeks after borrowing the funds, depending on your pay schedule.
You choose how fast you receive the funds. It’s free if you wait two to three business days, or you can pay a small fee to receive it instantly.
Instant Cash Loan vs. Instant Cash Advance Loan vs. Pay Day Loan
When you need money instantly, there are many options. You’ll likely hear the terms instant cash loan, instant cash advance, and payday loan used interchangeably. They sound similar, but each works a little differently.
You should understand the difference between apps that loan money because each loan structure affects you differently. They each have different repayment terms, costs, and interest. Some cash advances don’t even charge interest, which is the best-case scenario when you need money.
Instant Cash Loan
An instant cash loan is a loan from a financial institution via a fintech app, otherwise known as a neobank. These instant loan apps offer loans almost on the spot. For example, you can borrow $100 and have it within a few hours (for a fee) or a couple of days. They rarely charge fees and can help you avoid overdraft fees and other penalties for going over your balance.
The fintech app works with a bank that ‘backs them up.’ Most banks are FDIC insured, but always read the fine print before borrowing money to be sure.
Instant Cash Advance Loan
An instant cash advance loan is a cash advance on money you have already earned. Think of it as payday coming early. For example, if you’re paid every two weeks but have a small emergency in between, you may need your funds sooner. Many apps that give you money instantly work with your employer or track your hours so you can access your funds as you earn them. This could be extremely helpful for people who get paid bi-weekly or monthly.
With a cash advance app, you link your bank account and get the $100 you need. Then, the app will automatically withdraw the funds to repay the loan on your next payday. Make sure you never borrow more than you can afford to pay back on your next payday. The penalties can be high.
Payday Loan Apps
Payday loan apps should be your last option. Payday loans are usually for larger amounts and have high fees. There are quick payday loans online but always ask about the total cost.
Unfortunately, they often aren’t transparent about the total cost, which can be misleading if you think you’re not paying interest or there aren’t any fees. For example, if you miss your payment, you’ll be responsible for even more penalties, and payday loans’ interest rates are usually astronomical.
Pros and Cons of Instant Loan Apps
At first glance, instant loan apps may seem like a great idea, especially if they don’t charge any fees. But, like any personal finance decision, they have benefits and drawbacks.
Understanding the good and bad sides of instant loan apps can help you decide if it’s the right decision when you need a loan now.
- You can get cash fast, especially if you pay the instant transfer fee
- Many apps pay you within hours or at least the same day when you pay the instant transfer fee. You usually get your funds within three business days if you don’t pay them.
- You might save money by avoiding overdraft fees.
- Overdraft fees are expensive and ongoing. A same-day loan can help you avoid the costs, and you might not pay interest or fees on the loan.
- They are usually easy to qualify for and don’t require a credit check.
- You don’t need good credit to use cash advance apps. Instead, they look at your bank accounts and how well you use them. If you have a positive banking history, you’re in good shape.
- You pay the loan back in one payment with your next paycheck.
- You don’t have to worry about monthly payments and paying interest. You pay the loan off the next payday, and it’s off your back.
- The fees for instant loan apps transfers are usually high.
- Lenders typically charge $3 – $5, or sometimes more, to get money the same day. It may not sound like much, but the fees add up fast.
- You could get caught in a borrowing trap because you have to repay the loan on your next payday.
- It’s not a good habit to spend more than you have. If you experience an emergency, that’s one thing, but constantly needing more money could be a sign of bad spending habits.
- There are many scams that people fall for when they need to borrow 100 dollars
- Like any app, there are scams that you must be able to recognize, especially since you’re sharing personal information like your bank account information.
Use Apps That Pay Instantly Wisely
Borrowing money isn’t always the ideal option, but sometimes it’s inevitable. For example, it might be worth it to avoid overdraft fees or paying a bill late. However, there are ways to ensure you use money-lending apps wisely.
Don’t Borrow Money That You Don’t Need
Although it’s easy to get money fast, only do it when you have emergency expenses or unforeseen circumstances. Most cash advance apps charge fees or interest, which will likely cost you money. Plus, it’s not a good habit to tap into the money you don’t have. It can create bad spending habits that are hard to break.
Borrow Only What You Can Afford to Pay Back
Borrowing $100 probably won’t break your budget, but some money-borrowing apps allow you to borrow $500+. If you’re already having financial trouble, it could be hard to pay that back even after you get paid. Since an instant loan is a short-term loan, most apps require you to pay the total amount with the next paycheck.
Pay Your Instant Loan off Early
Pay your instant loan off if you can afford it as quickly as possible. This is especially important if it charges interest or fees. Some apps mentioned in my list charge a monthly fee, so the faster you pay the loan and cancel your membership, the more money you’ll save.
Increase Your Income
If you find yourself using personal loans to get by too often, it’s time to increase your income. A cash app loan should only get you through an emergency, not be used to cover your everyday expenses. Increasing your income ensures you have enough money to cover your expenses, and you don’t have to borrow funds.
How to Pay Off Instant Loans Faster
Most of the cash advance loans I talked about here don’t charge interest, so there’s no harm in waiting until your payday, but debt feels burdensome. If you don’t like debt hanging over your shoulders, here are a few ways to pay them off faster.
Add a Part-Time Job
Consider starting a part-time job if you have a few extra hours a day or can work weekends. You can use the funds to pay your instant loan earlier and get the loan off your back. The additional funds can help you avoid needing an instant loan in the future too.
Start a Side Hustle
If you don’t want another job, start a side hustle. You work on your own schedule and also set your own rates. You can create a freelance gig online, like freelance writing, web design, or virtual assistants. If you like working in person, consider babysitting, tutoring, driving for a rideshare company, or delivering food. Use the money you make to pay your loan off faster and get yourself out of debt.
Make Extra Payments
Each loan has a repayment schedule, but you can make extra payments without penalty. For example, if you have a bi-weekly payment schedule but come into money the week before your loan is due, pay it toward it. You’ll keep more money from your paycheck and may end the instant loan cycle.
Frequently Asked Questions
What app can I borrow $100 from?
Many apps like Dave will lend you $100 for an emergency. The key is to use apps that don’t charge interest or fees and to pay the loan back quickly. Using personal loans occasionally to get through an emergency is okay, but don’t make a habit of it.
Apps like Brigit, PayActiv, and PockBox lend you money instantly. Be careful, though, because most apps that pay you immediately charge a fee. Even if the cost is only a few dollars, it adds up. In addition, when you’re only borrowing $100, even $2 makes the APR astronomical.
Your best bet, if you need to borrow money, is to wait for a traditional transfer because they are free. You’ll often pay high transfer fees when you need the cash the same day.
Can you borrow money from Cash App?
Yes, you can borrow money from the cash app. They lend from $20 to $200, depending on what you qualify to borrow. Like most apps, you must pay the loan back on your next payday.
Does a “$100 Loan Instant App No Credit Check Required” option exist?
Most $100 loan instant app loans don’t require a credit check. Instead, the apps look at your banking history or your history with instant loans. You will likely qualify for an instant loan if you have a good payment history and your bank account balance is positive with good activity.
Do cash advance apps hurt your credit?
Most cash advance apps don’t report to your credit report. A cash advance app could hurt your credit history only if you don’t pay your loan for a long enough period of time that they send it to collections. With your loan in collections, it can show up on your credit report and hurt your credit score.
Should You Use an Instant 100 Dollar Loan App?
A $100 loan instant app can help if you need money fast. Before you borrow the money, though, understand the total cost and repayment terms.
If it’s an occasional issue that you have, cash advance apps can be a great way to help, but if it becomes too common, you may want to revisit your spending habits or increase your income.