- These loans are for existing checking customers; offers appear in the bank’s app or online banking.
- Fees are flat and small: for example, $12 on $250 with Wells Fargo Flex Loan.
- Repayment is spread over three or four months, not due in one lump sum.
Bank small-dollar loans compared
| Product | Amount | Cost | Repayment |
|---|---|---|---|
| Wells Fargo Flex Loan | $250 or $500 | $12 fee for $250; $20 for $500 | 4 monthly installments |
| U.S. Bank Simple Loan | $100–$1,000, in $100 steps | $6 per $100 borrowed (with autopay) | 3 monthly installments |
| Bank of America Balance Assist | $300–$500 (from Aug 14, 2026) | $15 flat fee (was $5 before Aug 14, 2026) | 4 monthly installments |
| Huntington Standby Cash | $100–$750 line of credit | 5% fee on each transfer; no interest with autopay (1% a month without) | Over 3 months |
Bank terms change often. Figures are as reported in 2026; confirm current rates and fees on the bank’s website before you apply.
How much cheaper than a payday loan?
| Option | Cost |
|---|---|
| Wells Fargo Flex Loan | $20 |
| U.S. Bank Simple Loan | $30 |
| Bank of America Balance Assist | $15 |
| Huntington Standby Cash (with autopay) | $25 (5% transfer fee) |
| Payday loan, 2 weeks at $15 per $100 | $75, due in one payment |
Who qualifies
- An open checking account at the bank, often for several months
- Regular deposits into that account
- An account in good standing (not overdrawn for long periods)
- For some products, a limit on how many loans you can take in a period
Offers are usually pre-approved and shown only in the bank’s app or online banking. If you do not see one, you may not be eligible yet.
Other bank features that help
- Early pay day: many banks, including Wells Fargo, release direct deposits up to two business days early at no cost.
- Borrowing on a credit card: My Chase Loan and Citi Flex Loan let cardholders borrow against their credit line at a fixed rate.
- No-overdraft-fee accounts: see overdraft fees by bank.
Tried the free options first?If you still need a small short-term loan, you can send one request to our lender network. Compare the cost carefully.
See loan optionsFrequently asked questions
Which banks offer small-dollar loans?
Wells Fargo (Flex Loan), U.S. Bank (Simple Loan), Bank of America (Balance Assist) and Huntington (Standby Cash) offer small loans to eligible checking customers.
How much does Wells Fargo Flex Loan cost?
As reported, $12 to borrow $250 or $20 to borrow $500, repaid in four monthly installments.
Did Bank of America Balance Assist change?
Yes. From August 14, 2026, the fee rose to $15, amounts are $300 to $500, and repayment is over four months.
Can I get a bank small-dollar loan if I am not a customer?
Generally no. These products are offered to existing checking customers, usually with some account history.