December 31, 2024

$200 Loan Instant Apps

By Penelope Besana
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Caught between an unexpected expense and an empty bank account? These $200 loan instant apps offer a safety net when you need them most.

Where can I get $200 right now?
Here are the best instant loan apps when you need $200:
  1. EarnIn: Up to $750 with Cash Out
  2. Brigit: Up to $250 with Instant Cash
  3. Dave®: Up to $500 with ExtraCash™
  4. Chime®.: Up to $200 with SpotMe®
  5. MoneyLion®: Up to $1,000 with Instacash℠
  6. Empower: Up to $300 with Empower Cash Advance
  7. Klover: Up to $200 with Balance Advance
  8. Current: Up to $500 with Paycheck Advance
  9. Albert: Up to $250 with Instant

Is that unexpected bill causing you a lot of stress because you're short on funds? Enter $200 loan instant apps.

When your next paycheck is still several days away, such fintech innovations provide quick solutions without the predatory terms of traditional payday loans.

See if at least one of these great options is right for you.

9 Best $200 Loan Instant Apps

Life, unfortunately, throws curveballs. So when you need a little extra cash to get through a tough spot, $200 loan apps have your back.

Without mandatory fees and credit checks, EarnIn tops the list. Learn more about this app as well as 8 other great options.

EarnIn: Up to $750 with Cash Out

  • How soon do I get the money? Within 1-3 business days via ACH, or in minutes with Lightning Speed transfers, starting at just $2.99/transfer.
  • When do I pay it back? Upcoming payday.

What fees can I expect?

Interest rate0%
Mandatory fee$0
Fast transfer fee$2.99 to $5.99/transfer[1]

App Rating:

  • 4.7 out of 5 ✰ from 244K+ reviews on Google Play[2]
  • 4.7 out of 5 ✰ from 285K+ reviews on App Store[3]

Why Choose EarnIn
One thing should be made clear: EarnIn is not a payday lender. It's a mobile app featuring different financial products, most notably Cash Out. This allows Community Members to access a portion of their paycheck early without being subjected to credit checks.

With Cash Out, you can transfer up to $150/day, with a max of $750 between paydays.

You can use Cash Out with no additional cost, but optional tips are welcome.

  • No interest charges
  • No minimum credit score required
  • Lightning Speed Transfer
  • Only for employed people
  • Needs a linked checking account

EarnIn Cash Out requirements:

  1. Sign up for an EarnIn account if you're at least 18 and with a valid U.S. mobile number.
  2. A linked checking account where paychecks are received consistently.
  3. Employment details.
  4. Minimum $320 per pay period.

If a loan instant app were not available, how would you cover emergency expenses?

Brigit: Up to $250 with Instant Cash

  • How soon do I get the money? Within 1 business day at the earliest for free, or 20 minutes using Express Delivery.
  • When do I pay it back? Your next payday or preferred date using an extension.

What fees can I expect?

Interest rate0%
Mandatory fee$9.99/mo. Plus plan or $14.99/mo. Premium plan[4]
Fast transfer feeStarts at $0.99/transfer;[5] free for Premium members[6]

App Rating:

  • 4.7 out of 5 ✰ from 206K+ reviews on Google Play[7]
  • 4.8 out of 5 ✰ from 312K+ reviews on App Store[8]

Why Choose Brigit
Brigit's cash advance product is not much different from other fintech offers. Instead of credit checks, it relies on its own scoring system and eligibility criteria for Instant Cash, which looks into the following:

  • Your bank account health
  • Earnings profile
  • Spending behavior

Make sure you hit all the above points to get the highest possible cash advance limit. Especially if you will need $200. Because, unlike other instant advances, this amount is fixed once it's assigned to you.

Meanwhile, Brigit will be proactive if you turn on your Auto Advances setting. Based on your account activity, it can detect when to send you cash to avert an overdraft.

Beyond cash advances, Brigit is known for its financial insights, providing budgeting tools and expense tracking.

  • No interest/late charges
  • Auto Advances option
  • Up to $1 million coverage with identity theft protection
  • Monthly subscription fees
  • Fixed advance limit

Brigit Instant Cash requirements:

  1. Sign up for a paid Brigit subscription.
  2. Link an external bank account with a minimum 60-day history, 3 recurring deposits from the same source and a positive balance.
  3. Maintain a minimum average end-of-day balance on scheduled paydays.

Dave®: Up to $500 with ExtraCash™

  • How soon do I get the advance? Within seconds to a Dave® checking account (with express fee), or within 3 business days for free.
  • When do I pay it back? Next payday or nearest Friday.

What fees can I expect?

Interest rate0%
Mandatory fee$1 monthly subscription fee
Fast transfer feeStarts at 3% or $3, whichever is higher[9]

App Rating:

  • 4.4 out of 5 ✰ from 528K+ reviews on Google Play[10]
  • 4.8 out of 5 ✰ from 692K+ reviews on App Store[11]

Why Choose Dave®
If you don't need much, fintech apps with an interest-free feature like the Dave® app make perfect sense than regular payday or personal loan apps.

With ExtraCash™, an advance is treated as an overdraft. So, if you get it, you may notice a negative bank account balance. Don't worry. This isn't treated as overdrawing your account, so you won't be penalized with overdraft fees.

If you need your advance sooner, you'll incur a 3% fee on the advance amount when transferring to a Dave® checking account. For external bank accounts, it is 5%.

Aside from offering advance, Dave® provides earning opportunities as well. With its Side Hustle, you can make a bit of extra money answering surveys or taking on part-time work.

  • No direct deposit required
  • No interest/late charges
  • Quicker approval process with a Dave® checking account
  • Monthly membership fee
  • Dependent on income

Dave® ExtraCash™ eligibility contributing factors:

  1. Sign up for a Dave® account.
  2. Linked bank account details or Dave® checking account with a minimum 60-day history and a positive balance.
  3. Have at least 3 recurring deposits.
  4. Minimum $1,000 total monthly deposit.
  5. Pay a monthly membership fee.

Chime®: Up to $200 with SpotMe®

  • How soon do I get the money? Immediately after initiating a SpotMe® transaction.
  • When do I pay it back? On your next direct deposit or fund transfer, whichever comes first.

What fees can I expect?

Interest rate0%
Mandatory fee$0
Fast transfer fee$0

App Rating:

  • 4.6 out of 5 ✰ from 663K+ reviews on Google Play[12]
  • 4.8 out of 5 ✰ from 838K+ reviews on App Store[13]

Why Choose Chime®
Chime® is a mobile banking app loved by users for its no-fee approach. Aside from helping you save money, its unique SpotMe® feature lets you overdraft up to $200 without penalty fees.

The best part? No waiting time and no mandatory fees. Just go to any of its 50,000+ fee-free ATMs and withdraw money based on your SpotMe® limit.

In case you need $200 right now, you may not be able to get it if you are a new signup. Truth is, it may take some time to build up your SpotMe® limit to $200.

  • Instant funding
  • No interest/credit checks
  • Multi-purpose app
  • SpotMe® limit may take time to increase
  • Requires regular direct deposits

Chime® SpotMe® requirements:

  1. Apply for a Chime® debit card or Credit Builder card.
  2. Activate SpotMe® in your app settings.
  3. Have at least $200 qualifying direct deposit from an employer or benefits provider regularly.

MoneyLion®: Up to $1,000 w/ Instacash℠

  • How soon do I get the money? Within minutes for a fee, or at least 1 business day via standard transfer.
  • When do I pay it back? On the scheduled repayment date, usually based on your next paycheck.

What fees can I expect?

Interest rate0%
Mandatory fee$0
Fast transfer feeTiered fee starts at $0.49/transfer[14]

App Rating:

  • 4.5 out of 5 ✰ from 123K+ reviews on Google Play[15]
  • 4.7 out of 5 ✰ from 135K+ reviews on App Store[16]

Why Choose MoneyLion®
MoneyLion®'s Instacash℠ offers zero-interest cash advances of up to $1,000. However, you may be limited to $500 if you are linking an external checking account.

For higher cash advance limits, faster standard transfers, and lower Turbo Fees, consider opening a RoarMoney℠ account and switch your qualifying deposits.

Alternatively, become a MoneyLion® WOW member and get up to $5 rebates on your 1st Turbo fee and every 10th after that.

Through Auto Invest, you can invest as little as $5 a week and turn it into more than $200 a year without even having to think about it! Just set it up using your checking account or RoarMoney℠ account and let the saving happen automatically.

  • Higher cash advance limits
  • No interest/late fees
  • Trial option
  • Standard transfer can be longer
  • Higher fast funding fees

MoneyLion® Instacash℠ requirements:

  1. Sign up for a MoneyLion® account.
  2. Link your checking account with a minimum 60-day history and a positive balance.
  3. At least 3 direct deposits from the same source or payroll provider into the linked account.

Empower: Up to $300 with Cash Advance

  • How soon do I get the money? At least 2 days (free standard transfer) or in 15 minutes via Instant Delivery.
  • When do I pay it back? Whenever you can.

What fees can I expect?

Interest rate0%
Mandatory fee$8 monthly subscription fee[17]
Fast transfer feeTiered fee starts at $1/transfer[18]

App Rating:

  • 4.7 out of 5 ✰ from 180K+ reviews on Google Play[19]
  • 4.8 out of 5 ✰ from 200K+ reviews on App Store[20]

Why Choose Empower
Empower is a multipurpose financial app with budgeting, savings, and cash advance features.

Notably, its zero-interest cash advance feature doesn't do credit checks. Instead, your checking account's paycheck transactions indicate how much you can get.

You can repay any time without late fees. However, outstanding balances prevent you from additional advances.

Want to build credit? Try Empower Thrive instead. It offers a credit line from $200 to $400 and can grow up to $1,000 over time. However, it has interest charges.[21]

  • Repayment flexibility
  • No interest
  • No credit check required
  • Monthly subscription fee
  • Tiered Instant Delivery fee

Empower Cash Advance requirements:

  1. Sign up for an Empower account.
  2. Must have a linked active bank account with regular direct deposits.
  3. Click Check Eligibility under the Cash Advance section of your Empower app to see how much you can advance.

Klover: Up to $200 with Balance Advance

  • How soon do I get the money? Within 3 business days for free, or minutes with express fee.
  • When do I pay it back? Next paycheck.

What fees can I expect?

Interest rate0%
Mandatory fee$0
Fast transfer feeTiered fee starts at $1.49/transfer[22]

App Rating:

  • 4.5 out of 5 ✰ from 76K+ reviews on Google Play[23]
  • 4.7 out of 5 ✰ from 206K+ reviews on App Store[24]

Why Choose Klover
Klover offers instant cash advances, but be aware the app uses a data exchange model. This means some of your data is shared with Klover's partners, including your app activity. So, you might see personalized ads within the app.

In exchange, you won't have to pay monthly subscription fees that other cash advance apps ask from you. When you use the app, you'll also earn points and use them to:

  • Cover your express fees.
  • Increase your cash advance limit.
  • Exchange for sweepstakes entries.

While Klover offers cash advances without you paying a dime, you can also be a Klover+ member for $4.99[25] monthly. This gives you access to a financial advisor, price comparisons, redeem points for an Amazon gift card, and daily credit score via credit bureaus like Experian.

  • No mandatory fees
  • Points-earning feature
  • Optional membership
  • Data given to third-party partners
  • High express fees

Klover Balance Advance requirements:

  1. Sign up for a Klover account by downloading the IOS or Android app.
  2. Have a linked checking account that is active and in good standing for at least 90 days; with at least 3 regular direct deposits from a single employer or payroll provider.
  3. Receive a paycheck of at least $250 weekly or twice a month.[26]

Current: Up to $500 with Paycheck Advance

  • How soon do I get the money? Within 3 business days for free, or minutes with Instant Access Fee.
  • When do I pay it back? Next paycheck or whenever you can.

What fees can I expect?

Interest rate0%
Mandatory fee$0
Fast transfer feeDepends on advance amount.[27]

App Rating:

  • 4.6 out of 5 ✰ from 157K+ reviews on Google Play[28]
  • 4.8 out of 5 ✰ from 158K+ reviews on App Store[29]

Why Choose Current
Current is another great tool for managing your finances between pay periods.

With its Paycheck Advance, you can get early access to a portion of your wages without paying interest charges. Just repay your outstanding advance next payday.

Like many banks, you may also claim your entire paycheck proceeds 2 days early when it is set up as a direct deposit with your Current account.

There's no penalty for unpaid advances, but you might not get more if the previous one remains unpaid for more than 35 days.

Additionally, Current offers financial tools like savings pods, budgeting tools, and even crypto trades. This lets you manage your finances in one place.

Current accepts voluntary tips. But whether you do this or not would have no bearing on your eligibility for Paycheck Advance.

  • No hidden costs
  • Flexible repayment
  • Multipurpose app
  • Requires direct deposits
  • No credit building

Current Paycheck Advance requirements:

  1. Sign up for a Current account by downloading the IOS or Android app.
  2. Must have a linked bank account and debit card.
  3. At least a total of $500 worth of eligible payroll deposits (at least one with $200).[27]

Albert: Up to $250 with Instant

  • How soon do I get the money? Real time via Albert Cash debit purchases and ATM withdrawals; 2 to 3 business days via standard ACH transfer.
  • When do I pay it back? Within 6 day grace period .

What fees can I expect?

Interest rate0%
Mandatory fee$14.99/mo. Genius account fee[30]
Fast transfer fee$4.99/transfer to an external bank account[31]

App Rating:

  • 4.3 out of 5 ✰ from 99K+ reviews on Google Play[32]
  • 4.6 out of 5 ✰ from 189K+ reviews on App Store[33]

Why Choose Albert
Albert has Instant, an overdraft coverage in case you have a $200 shortfall, more or less. Simply overdraw your Albert Cash account (within your Instant limit) for immediate access to funds.

However, you need a paid Genius subscription to access Instant. Since you're paying anyway, use the integrated budgeting tools to organize your accounts and spending in one place.

Overdrafts must be covered within 6 days, with a 7-day extension available. You can't request additional overdrafts until you pay.

Activate the cash-back rewards for your cash account by adding one merchant at a time. Once you receive the reward from a current offer, you can activate another one.

  • Quick access to funds
  • No hidden costs
  • Built-in budgeting and savings tools
  • Monthly subscription
  • Overdraft suspension for late/non-payments

Albert Instant requirements:

  1. Sign up for a Genius membership.
  2. Activate Smart Money transfers in your settings.
  3. Set up Instant by opting into overdrafts on debit card purchases, ATM withdrawals, ACH, and other electronic transfers.
  4. A qualifying direct deposit in the linked account.

Now that you know which loan instant apps to look at in case you need $200, let's re-learn the basics.

What Is A $200 Loan Instant App?

Also referred to as cash advance apps, $200 loan instant apps are exactly that — apps where you can take out a quick cash loan or paycheck advance up to $200 or more. They have no lengthy processes typically associated with traditional personal loans.

Repayment is also just as quick, often made on your next payday or deposit. This is automatically deducted from your linked checking account, making it a hassle-free experience.

To be eligible, you usually have to be employed and consistently receive paychecks. Even if you have a less-than-perfect credit history, it's often not a major barrier, as lenders focus more on your current ability to repay the loan.

Due to the ease of access, some may be tempted to rely on these loan instant apps repeatedly, leading to a cycle of debt that can be difficult to break. Make sure to limit your usage to financial emergencies only.

Pros:

  • Quick access to funds
  • Convenient
  • More affordable
  • No credit checks
  • Flexible repayment terms
  • No interest rates

Cons:

  • Short repayment periods
  • Limited loan amounts
  • Potential monthly subscription/immediate transfer fees
  • Risk of repeated borrowing

Are loan instant apps safe?
Although not all instant apps are created equal, they are generally safe. Most of them operate under regulatory frameworks that require them to be licensed and to comply with consumer protection laws and data privacy.

When to Consider a $200 Loan Instant App

Loan instant apps may be useful during these situations:

  • Cover unexpected expenses
    If you encounter an emergency medical bill or home repair that isn't that costly but you don't have anything set aside for it, a loan instant app can be a savior.

  • Bridging cash flow gaps
    Small loans in the form of cash advances can help you tide over when in between living paychecks and need money for a few more groceries and other essentials.

  • Snap up time-sensitive opportunities
    Getting a limited-time deal that couldn't wait until your payday may be a good excuse to use a loan instant app service.

What happens if you can't repay a loan instant app?
Most loan apps will suspend your access to cash advances, overdraft coverage, or loan requests if they are unable to deduct the amount from your linked account on your scheduled payment date or extension period. Despite that, they usually don't charge late fees.

How to Choose the Best $200 Loan Instant App

If you need $200 right now and still confused which loan instant app to go with, here are some questions to guide you:

  1. Since there usually is no interest charge, is there a signup or monthly subscription fee to get a cash advance?
  2. Can I get my funds faster at zero or less cost if I open their checking account?
  3. Does my current salary qualify for a $200 cash advance or overdraft?
  4. Are there prepayment penalties in case I want to repay my advance earlier?
  5. If I need to pay for membership, am I getting more than just a cash advance app?

By asking the above questions, you don't only get to land the right loan app, but also help you make smart financial decisions.

Will loan instant apps affect my credit score?
Since many loan instant apps skip hard and soft credit checks, taking out an advance or overdraft from them will not impact credit scores.

Can I pay my $200 loan instant app early?

Loan instant apps often set the repayment date on your next paycheck, but you could repay ahead of schedule.

With EarnIn for example, you simply click View and Pay in your app and confirm your payment details.

In the case of Albert Instant overdrafts, you just have to deposit the funds in your Albert Cash account within the first couple of days of your grace period.

Alternatives to $200 Loan Instant Apps

Need fast cash but couldn't qualify for a $200 loan instant app? Consider these other options:

  • Ask from friends or family members.
    Borrowing money from someone you know with extra cash can be an option. Family loans are even better if that's possible. Make sure to repay them on your agreed date to avoid straining relationships.

  • Consider payday alternative loans.
    Offered by several credit unions, these loans may charge lower interest than regular payday loans. But you have to be a member of a particular credit union first.

  • Use plastic money.
    There's your credit card, especially if you're running short on groceries before your paycheck arrives. And then, pay it in full on the due date to avoid interest.

  • Check if your employer has a payroll advance.
    Some employers have their own earned wage access programs that allow you to get an advance on your upcoming paycheck without interest or low fees.

  • Sell personal items.
    Consider selling stuff you no longer need online via Facebook, Instagram, or eBay to raise cash.

  • Pawn jewelry.
    You can use valuable items like gold jewelry or watches as collateral in exchange for a portion of its estimated worth. Reclaim your pawned item before the term is up.

Methodology

We chose loan instant apps that cover your need for $200 without interest and late payment charges.

But more importantly, we considered the time of processing and disbursement of funds. Quick access is king. So, most apps can transfer to your linked checking or debit card in minutes for a low fee (if not free) if the receiving account is from the same provider.

Lastly, we took note of other useful features for budgeting and savings, which can help you optimize the app long-term.

Bottom Line

The best $200 loan instant apps let you access modest funds quickly and affordably. Earnin has these qualities and more, thus, earning (pun intended) our top spot.

Nonetheless, every app on the list does not charge interest, which makes each one worthy of your consideration. However, these services would require steady employment and a consistent income schedule to qualify.

And despite the ease and convenience they offer, remember to use them for true emergencies only to avoid falling into a cycle of debt.

References

  1. ^ EarnIn. Lightning Speed fees and details, Retrieved 10/28/2024
  2. ^ Google Play. EarnIn: Make Every Day Payday, Retrieved 8/30/2024
  3. ^ App Store. EarnIn: Make Every Day Payday, Retrieved 8/30/2024
  4. ^ Brigit. How much does Brigit cost?, Retrieved 9/11/2024
  5. ^ Brigit. Brigit Terms of Service, Retrieved 9/11/2024
  6. ^ Brigit. Our pricing, Retrieved 9/11/2024
  7. ^ Google Play.
    Brigit: Borrow & Build Credit    , Retrieved 8/30/2024
  8. ^ App Store. Brigit: Fast Cash Advance, Retrieved 8/30/2024
  9. ^ Dave®. Get up to $500 in 5 minutes or less, Retrieved 8/30/2024
  10. ^ Google Play.
    Dave: Fast Cash & Banking    , Retrieved 8/30/2024
  11. ^ App Store. Dave: Fast Cash & Banking, Retrieved 8/30/2024
  12. ^ Google Play.
    Chime - Mobile Banking    , Retrieved 8/30/2024
  13. ^ App Store. Chime - Mobile Banking, Retrieved 8/30/2024
  14. ^ MoneyLion®. MoneyLion fee schedule, Retrieved 9/11/2024
  15. ^ Google Play. MoneyLion: Bank & Earn Rewards, Retrieved 8/30/2024
  16. ^ App Store. MoneyLion: Banking & Rewards, Retrieved 8/30/2024
  17. ^ Empower. Why Empower Cash Advance, Retrieved 8/30/2024
  18. ^ Empower. Why Empower Cash Advance, Retrieved 9/11/2024
  19. ^ Google Play. Empower: Advance & Credit, Retrieved 8/30/2024
  20. ^ App Store. Empower: Cash Advance & Credit, Retrieved 8/30/2024
  21. ^ Empower. Why Empower Thrive?, Retrieved 9/03/2024
  22. ^ Klover. Terms & conditions, Retrieved 9/26/2024
  23. ^ Google Play. Klover - Instant Cash Advance, Retrieved 9/02/2024
  24. ^ App Store. Klover - Instant Cash Advance, Retrieved 9/02/2024
  25. ^ Klover. Membership fees, Retrieved 10/28/2024
  26. ^ Klover. Types of Acceptable Income, Retrieved 10/28/2024
  27. ^ Current. Paycheck Advance Terms and Conditions, Retrieved 10/28/2024
  28. ^ Google Play. Current: The Future of Banking, Retrieved 9/03/2024
  29. ^ App Store. Current: The Future of Banking, Retrieved 9/03/2024
  30. ^ Albert. How much does Albert cost?, Retrieved 9/11/2024
  31. ^ Albert. Are there any fees to use Albert?, Retrieved 9/11/2024
  32. ^ Google Play.
    Albert: Budgeting and Banking    , Retrieved 8/30/2024
  33. ^ App Store. Albert: Budgeting and Banking, Retrieved 8/30/2024

Penelope Besana is a research analyst at CreditDonkey, a personal finance comparison and reviews website. Write to Penelope Besana at penelope.besana@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

EarnIn is not a bank. Access limits are based on your earnings and risk factors. Available in select states. Terms and restrictions apply. Visit EarnIn.com for full details

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