MoneyLife

Best Borrow Money App With No Fees

By Jessica Crosby
best borrow money app

Let’s face it. There are a lot of apps out there that promise to give you access to money fast. But which one is the right one for you? And is it even possible to find one that has no fees? 

Don’t pick the wrong app when you need to borrow money! Let us walk you through some of the things you should consider when you’re looking for the best borrow money app. 

Where can I borrow cash without a hard credit check and fees? 

There are a lot of options if you need money today. There are many ways to borrow cash, like instant loans. But often, these loans require a hard credit check, and the fees can add up very quickly. MoneyLion has you covered with a few ways to get cash fast without being tied down by credit checks and fees. 

0% APR Instacash advance 

Do you need to borrow cash right now? Our RoarMoney account makes this possible. With RoarMoney, you will automatically have access to MoneyLion’s Safety Net feature, which will give you access to up to $1,000 in Instacash without any hidden fees. Plus, you’ll be getting mobile banking and cash advances all in the same place. Sign up for RoarMoney Mobile Banking today to get started! 

Payday loan alternatives

We think you should steer clear of payday loans. Payday loans are considered predatory because you only have a short amount of time before you have to pay the lenders back, and the interest rates can be very high. Also, people usually cannot repay them in time, forcing those people to accept rollover payments in the form of another loan. Instead of payday loans, consider some of these payday loan alternatives below!  

Pawnshops

Pawnshops are a great payday loan alternative because they don’t create a cycle of debt as payday loans do. All you have to do is sell or consign items you already own to get cash in return. So, it is just a matter of finding items around your home to sell to a pawn shop. Try this option if you don’t have time to wait around for payment delays.

Loans from family and friends

Loans from family and friends are another option for borrowing money. This payday alternative works well as long as you establish proper boundaries to maintain a good relationship when borrowing money. Set loan terms just like you would for any genuine loan. This should include repayment time and interest. Only go down this route if you are able to keep your word. 

Work for Uber or Lyft

Rideshare apps like Uber are not the same as a loan, but they are a simple way to make money quickly. You can usually make several hundred dollars in one weekend this way, too. As such, this is an excellent option to keep in your back pocket. You just need to get approved by the rideshare company and have reliable access to a functioning car. 

Buy-now-pay-later apps

Buy-now-pay-later (BNPL) apps are a valuable option when borrowing money. BNPL apps allow you to access cash instantly to make quick purchases. MoneyLion’s BNPL option, Overtime, makes it possible for you to buy what you need now and then pay it off on your own schedule. Plus, MoneyLion also doesn’t require a hard credit check. Benefit from flexibility with Overtime. 

Overtime: fee-free purchases without a hard credit hit

Unlike other BNPL apps, like Klarna and Earnin, Overtime doesn’t have any hidden fees. Rather, MoneyLion makes everything very straightforward. Read on to find out why Overtime is the best borrow money app feature out there!

Quick and easy loan process

Our loan process is simple, and you’ll typically receive same-day cash within fewer than thirty minutes. To qualify, you must have a RoarMoney account. From there, we’ll be able to verify your account information and financial details. You’ll need to have a positive account balance, pass the verification steps, undergo the underwriting process, and you’ll be good to go!

Get fast cash to pay for recent purchases

Overtime gives you the ability to pay for the things that matter most. Plus, you’ll pay on your own terms, too. Qualifying members can make purchases and then pay them back later. You can break up your future payments into four chunks, making it easy to pay back your loan in the future. MoneyLion wants to make your money flexible so that you can enjoy your life!  

100% online 

Since so many people do everything online, MoneyLion wants to bring the convenience of borrowing money online to you. Instead of worrying about old-school methods, like layaway or going to a title loan shop, Overtime makes it easier than ever to get the money you need very quickly. It’s the easiest way to buy now and pay later! 

No signup fee

Overtime comes with zero sign-up fees. You just need a RoarMoney account, and then we’ll check your eligibility. From there, you can enjoy the flexibility of buying what you need when you need it. It’s that simple! Plus, MoneyLion makes it possible to take out loans for the things that matter most. Loans are available in amounts ranging from $50 to $600. Sign up for Overtime today to get started! 

No hard credit check

We don’t perform a hard credit check when you apply for Overtime. Instead, we use our access to your RoarMoney account to review your financial history. We look at your direct deposit history to get a better understanding of your financial history. Plus, Overtime members can get approved in as little as thirty minutes!

Sign up for Overtime today! 

Overtime is currently available as an invite-only program that is available to our members. While you wait for your invite, consider this great alternative! Start by downloading the MoneyLion app, signing up for RoarMoney, linking a bank account for direct deposits, and accessing the Safety Net feature. It will allow you to get money before your paycheck arrives.

But, wait! The MoneyLion perks don’t stop there! Check out our 0% APR Instacash cash advances and borrow up to $1,000 today. Download the MoneyLion app and you could get same-day approval. Regain control over your future and opt into financial flexibility today!

FAQs

How can I borrow money right now?

MoneyLion’s Overtime feature can help you buy now and pay later on qualified purchases up to $600.

Which app is the best to borrow money?

MoneyLion’s RoarMoney banking app gives you access to a whole suite of products, including Overtime, Instacash, investing tools, and more!

What apps let you borrow money until payday?

Check out MoneyLion’s Instacash and Overtime. Both financial tools allow you to borrow money until your next payday rolls around.

Sign Up
Sign Up

Overtime will not be available as of October 13, 2021. New and improved buy now, pay later offering coming soon!

Sign Up