Cash App Borrow is a short-term loan product that allows eligible users to borrow between $20 and $200. The loan is repaid in four weeks or eight weeks, with a 5% flat fee. This translates to an APR of 60%, which is higher than many other types of loans. How to Borrow Money from Cash App, you must:
- Be 18 years old or older
- Have a Cash App account in good standing
- Have a linked bank account
- Meet Cash App's eligibility requirements
To request a loan, open the Cash App and tap the "Borrow" tab. Follow the on-screen instructions to request the amount you need and choose your repayment terms. If approved, the money will be deposited into your linked bank account within minutes.
It is important to note that Cash App Borrow is a high-interest loan product. Only borrow money from Cash App Borrow if you are sure you can repay the loan on time.