What exactly are Chime Instant Loans?

Chime Instant Loans let you easily access funds to pay for a major expense. If you agree to the loan offer, money is readily available in your Chime Bank Account. The app allows you to check your balance as well as to set up automatic payments for loan payments.
How do I get a loan?

The Payday Loans That Accept Chime currently are only available to members who meet the criteria. If you're eligible for loans, you'll receive an email notification as well as a message in your Chime application. We'll inform you when you have just repaid a loan.

There are a few requirements you should be aware of in order to be taken into consideration for a loan

A Chime account that is in good standing
Regular transfers to your Chime Account
Chime has no outstanding loans

What is the maximum I am able to take out?

Chime Instant loans start at $100 but can be more depending on our eligibility requirements.
I'm eligible for more than I have borrowed. What can I do to increase my loan?

If you are eligible for a bigger loan, you cannot increase the amount you've borrowed or are currently repaying. Pay off the existing loan first, and then you must wait for Chime's approval to give you another loan.
Do loans have interest?

Yes. $5 is the amount of interest on a $100 loan. You will pay more interest if your loan amount is higher. Your interest rate will be lower if the loan is paid back early. In addition, you won't be charged any additional fees to applyfor the loan, or for early or late payment.
What is the process for loan repayment?

The loan is available in three (3) monthly increments*. Turning on autopay in the app's settings is the best way to pay back your loan. Your payments will automatically be taken from your Chime Checking Account and we'll notify you before every transaction is processed. If autopay is not selected the payment will be processed manually through your application.

You can make additional payments on your loan in the event that autopay is not enabled. Doing so can save you money on interest.
What happens if I'm in the middle on a payment?

We will not charge you any additional interest or late fee in the event that you do not make your payment. SpotMe limits can't be increased if your account aren't in order.
I have paid off the loan. Do I have a chance to get another?

After you've completed your repayment on your loan an offer for a loan will no longer be available. A push notification as well as a text message will be sent to you once you've been approved for a loan.