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Most emergency expenses don't happen on payday. If you need some cash to tide you over until your next paycheck, one option is a small loan from Cash App.
You may be eligible to borrow up to $500 without impacting your credit. Cash App deposits the funds to your Cash balance instantly and offers multiple options for repayment.
But there are some downsides and risks involved. We'll cover how Cash App Borrow works, how to qualify, and when to consider alternatives.
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Our partners do not influence our ratings.
Up to $300New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Minimum Opening Balance
$0
Monthly Fee
$0
Why We Like It
Earn a $50 or $300 bonus and up to 4.00% APY1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money with eligible direct deposit
Limited-Time Offer: +0.70% Boost on Savings APY for up to 6 months on new accounts. Terms Apply.2 <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
No account, overdraft, or monthly fees3 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Get your paycheck up to two days early with direct deposit4 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
Access additional FDIC insurance up to $3 million5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
Cash App Borrow is a closed-end installment loan available to Cash App users who meet certain requirements. Cash App doesn't require a credit check or report your payment activity to the credit bureaus, so there's no impact to your credit score. You can choose to pay back the loan as you receive cash, make weekly payments, or pay off the entire balance at once.
As long as you repay the loan according to the terms of your agreement, you'll only pay a flat fee equal to 5% of the loan amount. But if you don't pay the full balance by the due date, you could be subject to additional interest and fees.
In the event you default while enrolled in automatic payments, Cash App can take payment from your linked debit card, which could result in an overdraft fee from your bank if you have insufficient funds. Having a past-due balance may also result in locked account features.
Cash App Borrow is different from some paycheck advance apps that allow you to get money without a loan and don't charge any mandatory fees. With Cash App Borrow, you agree to a flat fee, you're obligated to repay, and there are consequences for late payment.
Cash App Borrow eligibility criteria
To qualify for a Cash App Borrow loan, you need to be at least 18 years old, have a Cash App account in your name and in good standing, and complete an identity verification. (Borrow loans aren't available to residents of Colorado or Iowa.)
You'll need to meet other criteria as well. For example, you may be eligible if:
You get at least $300 in monthly direct-deposited paychecks to your Cash App account
Your Cash App account is linked to an external account that receives at least $500 in monthly deposits
You have a Cash App Card that you use frequently for purchases
You keep a Cash App balance
Keep in mind, Cash App considers several factors when determining your eligibility and borrowing limits, and meeting the above requirements doesn't guarantee you'll qualify to borrow.
How to unlock Borrow on Cash App
The Borrow option will appear in the Money tab of your Cash App account once you become eligible. Simply tap "Borrow" and follow the prompts to select your loan amount and repayment option. You can find more details on how to use the app in our Cash App review.
Cash App Borrow limits
The maximum loan amount Cash App offers is $500, but the maximum limit for first-time borrowers is $400. You may not qualify for that amount initially — in fact, the average first-time limit for active customers is $153. After your first Borrow loan, you may qualify for a limit increase of up to $300. The minimum loan amount is $20.
While Cash App sets a limit on the total amount you can have outstanding, the platform does offer you the opportunity to take out multiple loans. So, if your mechanic estimated a $150 auto repair but it ended up costing more, you can submit an additional Borrow request up to your personal limit, provided you don't have a past due balance on your existing Borrow loan.
How to increase your Cash App Borrow limit
While there's no magic formula for increasing your Cash App Borrow limit, there are some things you can do to show you're a trustworthy borrower.
Ask your employer to directly deposit your paycheck to Cash App or a linked account
Actively use your Cash App account to receive and send money, maintaining a positive Cash App balance
Earn Cash App Green status in one of two ways:
Spend at least $500 per month with Cash App Pay or your Cash App Card
Deposit at least $300 per month in qualified paychecks to Cash App
Cash App Borrow repayment terms
Cash App doesn't publicly disclose its repayment term options for Borrow loans, as they may vary from one user to the next. Other sources state that Cash App Borrow repayment terms may range from one to four weeks. You'll be able to see your due date and repayment options in the app when you initiate a Borrow request.
You can generally repay a Borrow loan in one of three ways.
Automatically repay as you receive cash
Repay in weekly installments
Repay as a lump sum by the due date
You can repay your Borrow loan at any time without penalty before the due date. If you still have an outstanding balance four calendar days after the due date, you may be charged a $5 fee, depending on the repayment schedule you chose. Interest will accrue on any balance that remains seven calendar days after your due date.
Cash App may also require you to link a debit card. If you default, Cash App can try to charge your debit card for the past due amount unless you disable automatic payments.
Alternatives to Cash App Borrow
Cash App Borrow is a good option for active Cash App users who are confident in their ability to repay by the due date. But other paycheck and cash advance apps offer the potential for lower costs, higher borrowing limits, more flexibility, and/or fewer risks if you default.
Some options to consider include:
MoneyLion: Unlike Cash App, MoneyLion's Instacash6 <p>Instacash® is an optional service offered by MoneyLion. Your available Instacash® Advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. Expedited delivery requires Turbo Fee. See Instacash® <a href="https://www.moneylion.com/terms-and-conditions/#ml-instacash">Terms and Conditions</a> for more information and eligibility requirements.</p> isn't a loan, and there are no mandatory fees. You can qualify for an advance of up to $500 without a credit check by linking the checking account you use to directly deposit your paychecks. RoarMoney customers can access limits up to $1,000.
Current7 <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC.</b>.</p> : Current offers paycheck advances8 <p>Paycheck Advance is for eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. For more information, please refer to <a href="https://cdn.current.com/agreements/paycheck_advance_terms_11_25_2024.pdf">Paycheck Advance Terms and Conditions</a>.</p> with no credit impact and no mandatory fees. Repayment happens automatically from your next paycheck. You'll need to open a Current account and set up direct deposit or link a bank account that receives direct deposits to qualify. But having a Current account comes with many benefits, including opportunities to build credit without taking on debt9 <p>Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities. </p> .
Cleo10 <p>Cleo Credit Builder Card is issued by WebBank, Member FDIC</p> : Cleo Cash Advance limits paycheck advances to $250, and first-time customers can only qualify for $20 to $10011 <p>Subject to eligibility. Amounts are based on accrued, unpaid income and range from $150- $500 for existing users, and $150- $180 for first-time users. To qualify for up to $500 you must direct deposit at least $750/month. Amounts subject to change. Same day transfers subject to express fees. See <a href="https://web.meetcleo.com/faqs">here</a> for more info.</p> . Cleo doesn't charge interest or late fees12 <p>An Express fee of $3.99 is charged if you want to receive funds within 24 hours.</p> , and gig workers are welcome. You can request an advance through your Cleo monthly subscription or reach out to team@meetcleo.com if you're not a subscriber.
EarnIn13 <p>EarnIn is not a bank. Access limits are based on your earnings and risk factors. Available in select states. Terms and restrictions apply. Visit <a href="https://www.earnin.com/">EarnIn.com</a> for full details</p> : EarnIn is an app that offers early access to your earned wages without a credit check when you link it to the bank account that receives your paychecks. You may qualify to access up to $300 per day, with a max of $1,000 per pay period — qualified members get an average of $85 when first signing up. Beyond optional tipping, there are no interest charges or mandatory fees.
4.6
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Use Cash App As Your All-in-One Financial Services Platform
Bank14 <p>Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Savings provided by Cash App, a Block, Inc. brand.</p><p class="">Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Direct Deposit provided by Cash App, a Block, Inc. brand.</p> without all the fees—save, send, and spend your money the way you want.15 <p class="">Your balance is eligible for FDIC pass-through insurance through our Program Banks Wells Fargo Bank, N.A. and/or Sutton Bank, Members FDIC for up to $250,000 per customer when aggregated with all other deposits held in the same legal capacity at each Program Bank above, if certain conditions are met. Cash App is a financial services platform, and not an FDIC-insured bank. Prepaid debit cards issued by Sutton Bank, Member FDIC. See <a href="https://cash.app/legal/us/en-us/card-agreement">terms and conditions</a>. </p> Get paid up to 2 days early – up to 2 days earlier than most banks16 <p>Your first deposit may take longer depending on your employer.</p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
AWARD WINNERBest Checking and Savings Combo
SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit
Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.2 <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Bank of America Advantage Banking
Up to $500 cash offer. Click ‘Learn More' for more details. Bank of America, N.A. Member FDIC.
Yes, many active Cash App users are eligible to borrow money. You can access cash by requesting a Borrow loan up to your personal limit, which doesn't require a credit check. You can also get help with your expenses by using AfterPay to pay off your Cash App Card purchases over time or relying on free overdraft coverage if you meet certain requirements.
Who is eligible for Cash App Borrow?
At a minimum, you need to be at least 18 years old and have your own Cash App account to qualify for Borrow. You can become eligible for Cash App Borrow in a few different ways — for example, meeting a monthly threshold for direct deposits to Cash App or a linked account, using your Cash App card for everyday purchases, or keeping a positive Cash App balance can all help you qualify.
How do I activate a Borrow loan on Cash App?
The Borrow option will appear in the Money tab once you become eligible for a Borrow loan. There are a few ways to qualify, and borrowing limits are based on a combination of factors.
Bottom line
Cash App Borrow could be a good solution for Cash App users who need a small loan and expect to earn the cash to pay it off in time. The main advantage of Cash App Borrow is that it's fast and easy for existing users. But it's a loan that comes with fees and penalties. Other apps offer cash advances free of mandatory fees, and some options don't even charge a penalty if you pay late.
The best solution for you will depend on your financial needs. Keep in mind, it's never a good idea to rely on Cash App Borrow or any cash advance app as an ongoing solution if you're struggling to make ends meet. Consider getting help from a credit counseling agency instead.
Peer-to-peer payments as well as banking services14 <p>Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Savings provided by Cash App, a Block, Inc. brand.</p><p class="">Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Direct Deposit provided by Cash App, a Block, Inc. brand.</p>
Direct deposit and possible to get paycheck up to two days early – up to two days earlier than most banks16 <p>Your first deposit may take longer depending on your employer.</p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
AWARD WINNERBest Checking and Savings Combo
High APY of up to 4.00% on Savings (3.30% APY1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.2 <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
Paycheck access up to 2 days early with direct deposit4 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
No monthly maintenance or overdraft fees3 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Streamlined savings and savings goals with Vaults
Access to a large ATM network17 <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>
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