What are Chime Instant Lenders?
Chime Instant Loans make it easy to get money whenever you require it. As soon as you accept your loan offer the funds will be available in the Chime checking account. You can use your app to see your current balance and set up automated payments to pay off the loan.
How can I get an approval for a loan?
At the moment, loans are not accessible to everyone. If you qualify for a loan, you’ll receive a push notification and see a message on your Chime application. If you just repaid an outstanding loan, we’ll tell that you’re now eligible for another one.
If you want to qualify to receive a loan, there are certain things you must know:
A Chime account in good standing
Continuous direct deposits to your Chime Checking Account
Chime has no outstanding loans
What is the maximum amount I can borrow?
Chime Instant Payday Loans That Accept Chime (http://honda-civic.ru/10-7-proverka-sostojanija-i-zamena-napravljajuwego-podshipnika.html) start at just $100. The eligibility requirements may make it higher.
I’m eligible to receive more than what I borrowed. Do I have the option to raise the amount of my loan?
Even if you’re eligible for a larger loan, you can’t increase the amount that you have borrowed or are in the process of repaying. You’ll need to pay back the loan you have already taken out and then wait for Chime to notify you that you’ve been approved for a new.
Are loans a source of interest?
Yes. $5 is the total interest for a $100 loan. Your interest rate will increase when you make a smaller loan. Paying off your loan early can lead to lower rates of interest. Furthermore, you will not be required to pay application fees as well as for late or later repayment.
How does loan payment work?
The loan is available in three (3) monthly increments*. You are able to repay your loan through autopay through your app settings. Autopay will automatically take the funds from your Chime Checking account. We’ll notify you before any transaction is processed. If you decide not to utilize autopay, you’ll have to make payments manually using the app.
You can also make additional installments on your loan if autopay is enabled. By doing so you’ll save money on interest!
What if I don’t make my payment in time?
If you don’t make a payment and we don’t charge you a late fee or more interest than you agreed to when you initially accepted your loan. In the event of a delinquent account, it could, however hinder you from increasing the limit of your SpotMe limit.
I have paid off my loan. Can I obtain another loan?
You won’t get another loan proposal until your loan is paid in full. After you’ve been approved for another loan you will get a message via push. Additionally, you can receive an email through your app.