What are Chime Instant loans?

Chime Instant Loans are fast and easy to access whenever you require cash to pay for essential expenses. If you accept the loan, the loan will be available in your Chime checking account. The app allows you to see your current balance and set up automated payments to pay off your loan.
What is the best way to get a loan?

Currently, loans can only be made available to eligible members. If you've been accepted for an loan, you'll be notified via push. If you've already paid the loan, we'll notify you when you are eligible for another.

These are the items you need to meet in order in order to be eligible to get the loan.

A Chime account that is in good standing
Consistent Direct Deposits to your Chime Checking Account
Chime has no outstanding Payday Loans That Accept Chime

What is the maximum amount I'm able to take out?

The first loan amount offered by Chime Instant Loans is $100. We may provide higher amounts based on your ability to qualify.
I'm eligible for more than the amount I took out. Can I obtain an amount that is higher than my initial amount?

You cannot increase the amount of a loan you have already borrowed and are repaying, even if you are eligible for a larger loan. You'll need to repay your existing loan and then wait for Chime to notify you whether you've been accepted for a second.
Are loans subject to the charge of interest?

Yes. A $100 loan will cost you $5* in interest. The interest amount on a $100 loan will be greater if you borrow more. Repaying your loan early will actually result in lower interest rates. Also, there are no fees for applications, nor are there late or early repayment fees.
How do you make loan repayment work?

Repayment of loans is possible in three (3) monthly installments. You are able to repay your loan by turning off autopay through your app settings. We will notify you prior to every transaction being completed. The Chime Checking Account will automatically debit your monthly payment. You can also make payments by hand through your app in case you do not want to utilize autopay.

You are able to make an additional payment on your loan, even though autopay has been turned on. You can save money on interest by doing this.
What happens if I forget to pay?

We will not charge you any additional interest or a late fee if you miss your payment. Delinquent accounts may, however hinder you from increasing your SpotMe limit.
I have paid off my loan. Is it possible to get another one.

After you've paid off your loan, a subsequent loan will not be available. If you are eligible for another loan an email notification will be sent to your phone and an email is added to your app.