Top 5 Apps I Can Borrow Money from in 2021

Introduction

With the uncertainty 2021 has brought to our finances, we may find ourselves in need of extra funds to cover unexpected expenses. This is where borrowing money comes in handy. However, with so many lenders out there, it can be quite overwhelming to choose the right one. Luckily, there are now mobile apps that make it easy and convenient to borrow money. In this article, we’ll discuss the top 5 apps you can borrow money from in 2021.

1. CashNetUSA

CashNetUSA is a well-known online lender that offers short-term loans of up to $2,500. The application process is simple and can be completed within minutes. Once approved, you’ll receive the funds directly into your bank account within the next business day. The app also offers loan extensions and refinancing options for added flexibility. However, it’s important to note that their interest rates can be quite high, ranging from 129% to 191%.

2. Earnin

Earnin is a unique app that allows you to borrow money against your upcoming paycheck. You’ll be able to access up to $500 per pay period, and the app won’t charge interest or fees. Instead, users are encouraged to make a voluntary tip to support the app’s operating costs. The app also offers additional features like automatic savings, alerts for low bank balances, and flexible pay scheduling.

3. MoneyLion

MoneyLion is another popular borrowing app that offers loans of up to $1,000. They also provide credit monitoring, financial advice, and rewards for responsible borrowing and saving. Additionally, the app allows you to access your funds within minutes of approval. The interest rates vary depending on your creditworthiness, but they can be as low as 7.5%.

4. Tala

Tala is a mobile loan app that provides loans to underserved communities across the world. They offer loans of up to $500 with flexible repayment terms ranging from 21 to 21 days. The app also provides credit education and financial advice to help borrowers develop healthy financial habits. Tala’s interest rates are quite reasonable, ranging from 11% to 35%.

5. Branch

Branch is an app that provides loans of up to $1,000 with flexible repayment terms of up to 20 weeks. The app also offers budgeting tools, credit monitoring, and financial advice to help users improve their overall financial health. The interest rates range from 15% to 34.7%, and the funds can be accessed within minutes of approval.

Conclusion

In conclusion, borrowing money doesn’t have to be a daunting task. Mobile apps like CashNetUSA, Earnin, MoneyLion, Tala, and Branch make it easy and convenient to access the funds we need. However, it’s important to thoroughly research any lender before applying for a loan and to borrow responsibly. With these tips and recommendations, navigating the world of borrowing just got a whole lot easier.