12 Best $50 Loan Instant Apps

Life happens, and sometimes we find ourselves short $50. So, whether you need to fill up your gas tank or simply put food on the table, a $50 loan instant app might be something you should consider.

Better than payday loans, instant loan apps provide almost instant access to the funds you need, and many apps don’t charge interest or have hidden fees.

What Are $50 Instant Loan Apps?

Instant loan apps help bridge the gap between paydays. If you have a sudden emergency and don’t have the funds to cover it, cash advance apps may help. Most cash advances are short-term, but with a $50 loan instant app, it isn’t an issue for most.

Some of the best instant money apps provide not only a loan to cover you between paydays but early access to your earned funds. In other words, they work with your employer to track your earnings and get them to you before payday.

Most apps for instant money require you to repay the loan when you receive your next paycheck, so it is very short-term. Consider them like payday loans, but without the hefty fees.

However, this doesn’t mean a money lending app won’t charge fees. Always look at the fine print to see what the payday loan will cost. I’ve outlined what the most popular money lending apps charge below, but always double-check that there aren’t any hidden fees.

Best $50 Instant Loan Apps

1. Chime

  • Amount: $20 – $200
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: Immediate
  • Credit check: No

Chime is a fintech app that offers a ‘Spend account’ or checking account. You don’t need a certain balance, and there aren’t any fees. If you open a Spend account, you’ll also have access to SpotMe, Chime’s instant money loan.

To be eligible, you need at least one direct deposit of $200. Then, you’ll complete an application, and Chime uses the information to determine if you qualify. They don’t do a credit check, but they use other resources to determine if you qualify.

The SpotMe service has no fees but is only available to those with a Chime Checking account. If you overdraft your account, Chime will ‘spot’ you the cash. At first, the cash advances are limited to $20. Chime may increase your limits based on your spending habits, bank account history, and other factors.

2. Albert

  • Amount: Up to $250
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 2 -3 days
  • Credit check: No

Albert can be a great option as a payday lender if you need money now. They don’t believe in overdraft fees, so they offer an instant cash advance of up to $250 to protect you. In addition, they don’t charge interest or late fees. There’s also no credit check to qualify.

You must link your bank account, and they’ll send the funds directly to it. You get the cash for free if you wait two to three business days or if you need money fast, you can pay for an instant transfer; it’s only a small fee, and you should receive the funds in a few hours.

You pay this no credit check payday loan back on your next payday and pay nothing for accessing your funds early.

3. Earnin

  • Amount: $100 – $500
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Earnin believes you shouldn’t have to wait to receive your earned funds, so they help you get cash quickly by accessing your earned funds early with an instant loan. With Earnin, you can get up to $100 a day and $500 in a pay period advanced to you, and it’s an interest-free cash advance.

Their standard transfer time on their instant loan is one to three business days which is worth waiting for because there’s no fee. However, if you need an instant transfer or Lightning Speed transfer, as they call it, it costs $2.99 per transfer.

To qualify, you must link your bank account, and Earnin will automatically withdraw the funds you owe from your next paycheck.

To use this quick cash app, you must be employed and receive a direct deposit in your existing checking account. However, the app is completely free if you can time it right and request your funds at least three days before you need them.

4. PaydaySay

  • Amount: $100 – $1,000
  • Fee: $0
  • Interest rate: Varies by lender
  • Waiting period: 1 -2 days (varies by lender)
  • Credit check: Yes

PaydaySay isn’t your traditional instant cash advance app because it’s a marketplace or facilitator between you and the lender. They work with various lenders, which may increase your chances of approval, but it may also take more effort to get instant money.

PaydaySay offers fast money loans for small loan amounts, but some lenders lend up to $5,000. The more money you borrow, the more documentation the lender will need to approve you for the loan.

PaydaySay doesn’t charge monthly or transaction fees; however, the lender you’re matched with might, so always ask before accepting a loan. Because PaydaySay works with many payday loans and lenders, it’s important to read the fine print. The cost of the loans can be much higher than some of the traditional instant cash apps.

Most lenders require you to pay the loan back by your next paycheck, but they don’t automatically withdraw the funds like many of the best money loaning apps on this list.

Like any loan, you’ll pay interest and penalties if you don’t make your payment on time.

5. PayActiv

  • Amount: Up to $500
  • Fee: Free or $1 per transaction if you don’t have direct deposit
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

PayActiv is an app that your employer must sign up for and offer as a benefit. If your employer offers the benefit, you can access earned money now. Because the app is linked to your employer, it tracks your hours worked and allows you to access the lesser of 50% of your earnings or $500, unless you have a direct deposit set up, which allows you to access up to $1,000.

The funds are always available in the instant cash advance app. You can leave it unused or transfer it to your bank account, debit card, or Payactiv Visa card.

Payactiv automatically deducts the funds from your next direct deposit. It’s a free service if you have set up the direct deposit of your paycheck to your Payactiv card. If not, you’ll pay $1 for each transaction with a $5 maximum fee in each pay period. Since Payactiv isn’t an instant money loan, they are accessing your already earned funds; there aren’t any interest charges.

6. MoneyLion

  • Amount: $25 – $250
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 12 – 48 hours
  • Credit check: No

MoneyLion helps you get instant cash if you have a MoneyLion bank account. You must have a bank account at MoneyLion that’s at least two months old. The account must be active with regular deposits and have a good banking history.

You can get cash instantly from $25 to $250, and there’s no fee or interest. Your loan amount depends on your banking history. MoneyLion doesn’t do a credit check to get a loan.

With MoneyLion, it can take 12 to 48 hours to receive your funds in your MoneyLion account.

If you want the funds sent to an external account, it may take three to five business days. If you need the money faster, you can pay a fee for an instant transfer. The cost varies by amount and where you’re sending the money.

7. Cleo

  • Amount: $20 – $70
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Cleo is one of the most user-friendly money lending apps. When you first use it, you can borrow money between $20 – $70. However, once you have a history of paying your loans back on time, you may be able to borrow as much as $100.

It’s only available in the iPhone app store and is easy to use. Users link their bank accounts to the app, and Cleo reviews their transactions to advise how to manage their funds better.

In their ‘Get to Know your Money’ section, you’ll learn ways you can change your spending habits to improve your personal finances. Then, when you need money, it’s easy to instantly borrow money online.

8. Branch

  • Amount: Up to $500
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Branch is another one of the money loan apps that are only available through your employer. However, if your company offers it as a benefit, you can access up to $500 of your earned pay early. The money goes into a mobile digital wallet rather than your bank account, so you can use the funds however you need.

This cash loan app works well for independent contractors because Branch can pay them instantly after doing the work rather than making them wait for payment.

The best part is employees don’t pay anything for the service. It’s a free benefit for being an employee.

9. Brigit

  • Amount: Up to $250
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Brigit is a budgeting app and instant cash advance app all in one. It links to your bank account to monitor your financial habits. If the algorithm notices you need a boost because your account will go negative, it can make an automatic deposit.

With this cash loan app, you can borrow up to $250. The amount you can receive depends on your banking history. Brigit sets up a repayment schedule automatically too, but you are free to pay the loan back earlier if you want.

Like many of the best instant money apps, Brigit doesn’t run a credit check, and they don’t charge interest on your loans.

10. DailyPay

  • Amount: Varies by employer
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: Varies
  • Credit check: No

DailyPay, as the name suggests, helps employees get their hands on earned wages daily. This is another one of the lending apps that work through your employer. DailyPay will send your loan to your bank account or debit card. You can have the money sent instantly for a fee or wait a few days for no fee.

You can transfer funds from the cash loan app 24/7 and as soon as the minute after you finish your shift.

11. Dave

  • Amount: Up to $250
  • Fee: $1 per month
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Dave is one of the best cash advance apps available today. It’s a fintech banking app that gives you access to up to $250 in between paydays. Dave charges a $1 monthly fee, but there aren’t any other fees or interest unless you request an instant transfer.

The amount you can borrow depends on your Dave history, how much you have outstanding, and how fast you pay your loans. You must have your paycheck deposited into your Dave account, and any money you borrow is taken right from your deposit on the next payday.

Dave provides access to your paycheck up to two days early, and if you need your cash advances early, you can pay $4.99 and receive the funds in as little as eight hours.

12. FlexWage

  • Amount: Varies by employer
  • Fee: $0
  • Interest rate: 0%
  • Waiting period: Varies by employer
  • Credit check: No

FlexWage is one of the apps for instant money that works through your employer. If your employer subscribes to FlexWage, you get early access to your earned wages, receive tips on a pay card at the end of a shift, and have instant access to your paycheck on payday.

FlexWage charges a fee, but how much of it your employer passes on to you varies by employer.

13. Empower

  • Amount: Up to $250
  • Fee: $8 per month
  • Interest rate: 0%
  • Waiting period: 1 -3 days
  • Credit check: No

Empower offers cash advances up to $250. They don’t charge interest or late fees. Empower bases eligibility on your bank account balance and overall banking activity. They’ll send money to your free Empower debit card, or you can link an external account.

Empower is only free for 14 days. After that, there is an $8 monthly charge. But for that fee, you also get access to budgeting tools to help you reduce expenses and eliminate the need for a cash advance.

How to Choose the Best $50 Loan Instant App

Before using instant loan apps, always know what to look for and avoid. Scams run rampant today, so knowing what to avoid is essential.

What to Look For

When you need money fast, here’s what to look for in instant loan apps.

First, you want a user-friendly app. If you need a short-term loan, chances are you’re stressed out and need help. The last thing you want is an app that’s difficult to understand.

Next, you want an app with flexible approval guidelines. Since you only need a small amount of money, you don’t want to jump through hoops.

Also, pay close attention to the term and fees. Most instant loan apps require you to repay the loan on your next payday. Some even require you to link your existing checking account, so they can automatically withdraw the payment on your payday. Also, only work with a loan instant app that discloses their fees and doesn’t have any hidden fees.

Finally, you want a cash advance app that pays quickly. Because you’re likely in a bind, the last thing you want is to wait weeks for your money. You’ll have another paycheck and may not even need the loan by that point.

Red Flags to Avoid

There’s always a risk of getting taken advantage of by a scam. To reduce the risk, here are some red flags to avoid.

First, check if the company is listed in the Better Business Bureau. If it’s not, you might want to consider another company. If they are listed, read the reviews, including the most recent complaints, to determine if the company is legit.

Second, look for transparency. Do they disclose the APR and fees clearly, or are you left with questions after reading the terms and conditions? If you don’t get a clear answer about the interest rates and monthly fees, look elsewhere, or you might pay hidden fees you didn’t know existed.

Finally, look at how quickly you’ll receive the funds. You want the money now if you’re using instant cash advance apps. If they can’t disclose how soon you’ll receive the money, but they have no problem asking for your bank account information upfront, steer clear.

Getting Approved for the Best Instant Loan Apps

A $50 loan instant app doesn’t have to put you through the wringer to get approved. It’s not like you’re buying a car or house with the funds. But, each app has different ways of approving you for the loan.

Most instant loan apps look at your banking history, especially your deposits and your account history with the instant loan app if this isn’t your first time using it. Most apps don’t do credit checks, so they rely on your bank account history to determine if you can afford to pay the loan back.

Some apps might look at your credit history, so don’t ignore your need to keep up with your credit, especially if you’ll need to borrow over $250.

In addition, some apps only work through your employer. Your employer must sign up for the app and offer it as one of your employee benefits. If they do, the app is usually free for employees to use, and it gives you early access to funds you’ve already earned but haven’t been paid yet.

Alternatives to Apps That Let You Borrow Money

If you always need to borrow money instantly, you may want to explore other ways to make more money. For example, payday loan apps can be a way to get an instant loan, but most have some fees, and it’s not a good habit to get into to always run out of money.

These methods help you avoid the instant loan apps and put more money in your checking account, so you have less financial stress.

Sell Unwanted Items

You probably have things lying around your house you no longer need. However, someone might need or want them and is willing to pay.

It takes a little work, but if you can make a few hundred dollars and declutter your home, that’s a win-win!

There are many sites to sell your goods, depending on what you have. Anything popular that you can ship should go on eBay. Set up an auction and give yourself the chance to make great money. If you have designer clothes or accessories, open a Poshmark account, and anything else, you can list on sites like Facebook Marketplace or OfferUp.

Selling unwanted items can help you get cash fast, especially if you sell the items in person and receive cash on the spot. This eliminates any banking fees and puts more money in your pocket.

Start a Side Hustle

If you want to avoid the $50 loan instant app or are tired of constantly paying overdraft fees, consider starting a side hustle.

There are many opportunities to make more money. You can start a side hustle online if you freelance your skills, such as writing, web design, data entry, virtual assistant, editor, or social media specialist.

If you like to do things in person, consider downloading one of the gig economy apps like Uber, Lyft, Instacart, or DoorDash. For example, you can deliver food, shop for groceries, or drive people to their destination and make extra money.

If you prefer to work with kids or pets, consider setting up a tutoring business, pet sitting business, or babysitting service.

With each side hustle, you set your own schedule and choose the rates. Putting the money aside in an emergency fund or any other account you won’t touch lowers the chance of needing any instant cash loans.

Utilize Your Emergency Fund

If you have an emergency fund set aside, use it when emergencies happen. For example, if you lose your job or fall ill and can’t work, use your savings to cover your bills. It might be tempting to use the loan apps available, so you don’t use your savings, but when you’re better, you can save money again in your emergency fund.

FAQs

What Apps Will Let Me Borrow $50?

Many apps like Chime, Dave, DailyPay, and Brigit let you borrow $50. Most apps require you to repay the loan by your next paycheck but don’t charge interest.

What App Can I Borrow Money From Immediately?

Apps like Earnin and Albert offer the option to pay an instant transfer fee so you can receive your funds immediately.

Is It Safe to Use Instant Loan Apps?

Always use caution when using an instant loan app. Make sure the app is legit before sharing your information, and never share your login information with anyone else since you share your banking information with the app.

Are Instant Loan Apps Scams?

Reputable loan apps aren’t scams, but there are plenty that can be. If an offer seems too good to be true or doesn’t seem safe, don’t take the risk. Instant loan apps should have security measures in place, and the banks that back them up should be FDIC-insured.

Do Payday Advance Apps Have a Maximum Payout?

Each of the cash loan apps has different thresholds. For example, you’ll find the $50 loan instant app that only offers up to $50, but then you’ll find some that loan as much as $250 – $1,000. Because this should be a short-term loan, try keeping your balance as low as possible. If you need over $250, that’s something your emergency fund should cover.

Are There Same Day Loans for Bad Credit Available via Apps?

Most instant loan apps discussed in this list don’t do a credit check. Most apps that lend you money focus on your banking history or your history with the app’s loans if you’ve borrowed from them before.

Do Instant Cash Apps Have a Minimum Credit Score Requirement?

I found that most of the apps to borrow money instantly don’t check credit, so you don’t have to worry about your credit score. Of course, it’s always a good idea to keep your credit in good standing, but if you’re in a pinch, your credit score shouldn’t get in the way of your short-term loan.

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