MoneyLion payday loans are loans accessible by US residents.
MONEYLION PAYDAY LOAN REGISTRATION
Download the MoneyLion payday loan app from the Google Playstore
Fill in your profile info and link the Money payday loan app to your bank checking account.
NOTE: The linked checking account must be regularly active for not less than 2 months as well as possess no history of overdrafts.
MONEYLION PAYDAY LOAN INTEREST RATE
The MoneyLion payday loan app does not impose any fees in terms of interest.
However, costs are incurred depending on the disbursement option whereby regular disbursements are free while instant advancements attract fees of between $3.99 and $4.99 depending on the chosen checking account.
Despite the lack of interest fee, MoneyLion payday loans are funded through tips from the users
MONEYLION PAYDAY LOAN LIMITS
MoneyLion payday loan app limits range from between $25 and $200 and is subject to a variety of factors including deposit frequency and deposit amount.
However, this MoneyLion payday loan amounts are advanced at limits of $50 at a time meaning that one cannot take the entire disbursed amount at once.
HOW TO INCREASE MONEYLION PAYDAY LOAN LIMIT
Higher MoneyLion payday loan limits are dependent on 2 factors namely:
Deposit amounts: higher deposit amounts translates to higher loan limits
Switching direct deposits to MoneyLion account: This will increase the initial maximum loan limit from $200 to $250
MONEYLION PAYDAY LOAN REPAYMENT SCHEDULE
MoneyLion repayment dates are based on history of previous deposits whereby the MoneyLion prediction system aligns the repayment date with one’s subsequent expected direct deposit.
MONEYLION PAYDAY LOAN REPAYMENT PROCEDURE
MoneyLion payday advance loans can be repaid via 2 options namely:
Automatic : Due payments will be deducted automatically from users with MoneyLion checking accounts while deductions will be made from the debit card for those without MoneyLion checking accounts.
Manual: Click on ‘Repay’ from the instacash menu and choose the account linked to MoneyLion.
MONEYLION PAYDAY LOAN CUSTOMER SERVICE CONTACTS