Chime Instant Loans: 2025 Review

Chime is best for small loans for current Chime customers

If you’re in a cash crunch in between paychecks or want to avoid using a credit card, the Chime instant loan may be a quick fix. Funds are automatically added to your Chime deposit account once you accept the loan agreement.

Chime instant loan purposes

Chime’s website doesn’t provide any limitations for how funds can be used. Most lenders prohibit the use of funds for anything illegal.

Fees and penalties

Borrowers are charged $5 for every $100 borrowed. Chime doesn’t charge any other fees, including late payment or early repayment fees.

Where Chime cash advances stand out

• Quick approval. Eligible Chime customers may be approved instantly by checking push notifications or messages in the app. 
• Fast funding. You can have money in your Chime account upon accepting the loan agreement. 
• Fully digital experience. The loan can be approved, funded and repaid through the Chime app. 

Where Chime cash advances fall short

• Must be a current Chime customer. You’ll need an active Chime account and meet the direct deposit eligibility requirements.
• Limited information about uses. Chime doesn't outline what its instant loans may not be used for.
• Waiting period. You must wait 30 days after paying off one instant loan before taking out a new one.

Chime customer resources

Customer support

Chime provides 24/7 phone support through a toll free number. It also has an extensive help center and a detailed FAQ page. 

Digital experience

The App Store rates award Chime with a 4.8 out of 5 rating — which is impressive considering there are over 1 million ratings at the time of this review. Most of the reviews cite how easy the app is to use, and the convenience of having access to extra services like overdraft protection in an online banking platform. 

Chime vs. Dave

Chime doesn’t have any subscription fees for its service, while Dave charges a $1 fee. Chime also features three-month repayment terms, while Dave advance funds are due by your next paycheck. 

Dave users can get up to $500, which matches what Chime offers. But Dave doesn’t charge interest on the funds it advances, so you’ll repay what you get without extra costs. 

Chime vs. Brigit

Chime doesn’t charge any minimum monthly fee to use its service, which means you’ll save $8.99 per month compared to Brigit. Chime instant loans also have a three-month repayment term, giving you more time than Brigit allows to repay your advance — even with Brigit's payment extension features. Brigit allows you to borrow up to $250, half of what Chime offers.

Do you qualify for a Chime cash advance?

Besides being 18 and living in an eligible state, you’ll need some very specific requirements related to your Chime membership:

• You must be a Chime member with a Chime checking account in good standing. 
• You must have received a direct deposit of at least $200 or more in the past month. 
• You must have received a total of $500 from qualified direct deposits for the last six consecutive months. 
• You cannot have any outstanding Chime loans, and 30 days must have passed since your last loan. 

How Bankrate rates Chime

To select the top cash advance apps, the Bankrate team evaluates companies using a 16-point ranking system, known as the Bankrate Score. The Bankrate Score focuses on three key aspects: availability, affordability and customer experience. These are the factors considered as part of each category:

• Availability: Minimum and maximum loan amounts, overdraft protection features, repayment term lengths and funding timelines are taken into account as part of this section.
• Affordability: For this category we looked at subscription pricing and free version availability. We also looked at additional tools and resources offered to users as part of the subscriptions, as well as any fees assessed by the companies.
• Customer experience: Bankrate evaluates factors such as the company’s reputation through regulatory websites, like the Consumer Financial Protection Bureau (CFPB), as well as contact support options. Our team also favors apps that are highly rated and that give users the option to extend repayment in case of hardship.