Borrow money apps have become really popular, and can be a good way to get quick access to cash. But not all apps are equal, and you have to do a little research to choose the right one for you. Here’s a comparison of some of the top borrow money apps, to help you make an informed decision that is the best fit for your needs.

1. Brigit: flexible repayment options

Brigit focuses on providing users with financial flexibility and peace of mind. The app offers interest-free cash advances to help users cover unexpected expenses and avoid overdraft fees1. What sets Brigit apart is its repayment flexibility. Users can choose to repay the advance in a lump sum when their paycheck arrives or in smaller, more manageable installments over time. This flexibility caters to users with varying financial situations, allowing them to tailor the repayment process to their individual needs.

2. Earnin: paycheck advances without fees

Earnin stands out for its unique approach to borrowing money. Instead of charging traditional interest rates or fees, Earnin allows users to tip what they think is fair for the service. The app is designed for hourly workers who may need access to their earned wages before their payday. While the concept of tipping may appeal to some users, it’s essential to recognize that tipping is optional but encouraged. Users who can budget responsibly and appreciate fee-free borrowing may find Earnin to be a suitable option.

3. Chime: early direct deposit and overdraft protection

Chime is not just a borrow money app; it’s a neobank that offers a range of financial services. One of its standout features is the early direct deposit, allowing users to access their paychecks up to two days earlier than traditional banks. Chime also provides overdraft protection, which can be beneficial for users prone to overspending. While not a traditional borrowing app, Chime’s features make it a compelling option for those seeking financial flexibility without the need for a dedicated borrowing platform.

4. Dave: Savings goals and low-fee advances

Dave takes a holistic approach to personal finance by combining savings goals tools with borrowing features. The app analyzes users’ spending habits to help them plan out savings goals and how to reach them. Dave also offers low-fee cash advances to cover shortfalls. While the borrowing limit may be lower compared to some other apps, Dave’s emphasis on financial education and responsible spending can be valuable for users looking to improve their overall financial health.

5. Cash App: simplicity and speed

Cash App has gained popularity for its simplicity and user-friendly interface. It allows users to borrow money through its Cash App Loans feature. The application process is straightforward, and users can receive funds quickly, often within minutes. However, the borrowing limit is relatively modest compared to some other apps, making it suitable for small, short-term financial needs. Cash App is ideal for users who prioritize speed and simplicity over larger loan amounts.

The bottom line: the right borrow money app for you

Choosing the right borrow money app is personal—it depends on your financial needs and preferences. Whether you prioritize speed, fee transparency, budgeting tools, or flexible repayment options, there’s an app just right for your requirements. Carefully review the terms and conditions of each app, considering factors like interest rates, fees, borrowing limits, and repayment terms, and you’ll be good to go!
1Not all members will qualify for advances; Depending on eligibility, advances range from $50 – $250. Subject to Brigit’s approval and policies. Brigit monthly subscription required.