Reviewed by Andrei BerceaPersonal Loans
62 customers chose this
A loan offer is not guaranteed. Terms are subject to credit approval and identity and credit verification. Instant or same-day funding depends on an eligible debit card or the applicable cutoff and is not guaranteed.
Personal Loans
3,546 customers chose this
Lending For Bad Credit is not a lender and makes no credit decisions. It cannot guarantee a connection with a lender, a loan or the loan amount, and it charges no fee. Not available in all states, including Connecticut, New Hampshire, Vermont and Washington. A lender may run a credit check. Short-term loans are not a long-term financial solution. Amounts and terms vary by state and lender. Per Lending For Bad Credit, APRs on its offers are no greater than 35.99% (as of October 16, 2026).
Lending For Bad Credit is not a lender, makes no credit decisions, charges no fee, and cannot guarantee a connection with a lender, a loan, or the loan amount. Not available in all states, including Connecticut, New Hampshire, Vermont, and Washington; a lender may run a credit check or verify your details. Short-term loans are not a long-term financial solution, and amounts and terms vary by state and lender. Per Lending For Bad Credit, APRs on its offers are no greater than 35.99% (as of October 16, 2026).
Personal Loans
35,646 customers chose this
Personal Loans
10,099 customers chose this
Personal Loans
1,128 customers chose this
Personal Loans
1,364 customers chose this
we can't guarantee the complete accuracy on a day-to-day
Loan amount
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A complete breakdown of all data points across the products in this comparison to help you make the right decision.
Statistics based on 40 Loans products in our database.
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Average rates tracked monthly across 45 providers
| Average | Lowest | Highest | |
|---|---|---|---|
| Aug 2025 | 152.51% | 1.26% | 1,646.58% |
| Sep 2025 | 154.93% | 1.33% | 1,667.75% |
| Oct 2025 | 156.62% | 1.38% | 1,682.54% |
| Nov 2025 | 157.02% | 1.39% | 1,685.99% |
| Dec 2025 | 155.84% | 1.36% | 1,675.65% |
| Jan 2026 | 153.15% | 1.28% | 1,652.17% |
| Feb 2026 | 149.37% | 1.18% | 1,619.09% |
| Mar 2026 | 145.14% | 1.06% | 1,582.11% |
| Apr 2026 | 141.21% | 0.95% | 1,547.77% |
| May 2026 | 138.27% | 0.87% | 1,522.06% |
| Jun 2026 | 136.78% | 0.82% | 1,509.02% |
| Jul 2026 | 136.88% | 0.83% | 1,509.89% |
| Aug 2026 | 143.07% | 1% | 1,564% |
| Oct 2026 | 131.57% | 1% | 1,564% |
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BMG Money offers payroll deduction loans through employer partnerships, but their APRs range from 19.99% to 35.99% with a 5% origination fee. That adds up fast.
This guide breaks down 5 personal loan alternatives and 2 paycheck advance apps that could save you money. Whether you need a direct lender with lower rates, a marketplace to compare offers, or an app that advances your paycheck without interest, you have options.
BMG Money is a financial services company that provides personal loans through employer-sponsored programs. Unlike traditional lenders, BMG Money specializes in payroll deduction loans, meaning payments are automatically taken from your paycheck before you receive it.
Here's what BMG Money charges:
While the automatic payroll deduction is convenient, there are solid reasons to explore other options:
Personal Loans
3,546 customers chose this
Lending For Bad Credit is not a lender and makes no credit decisions. It cannot guarantee a connection with a lender, a loan or the loan amount, and it charges no fee. Not available in all states, including Connecticut, New Hampshire, Vermont and Washington. A lender may run a credit check. Short-term loans are not a long-term financial solution. Amounts and terms vary by state and lender. Per Lending For Bad Credit, APRs on its offers are no greater than 35.99% (as of October 16, 2026).
Lending For Bad Credit is not a lender, makes no credit decisions, charges no fee, and cannot guarantee a connection with a lender, a loan, or the loan amount. Not available in all states, including Connecticut, New Hampshire, Vermont, and Washington; a lender may run a credit check or verify your details. Short-term loans are not a long-term financial solution, and amounts and terms vary by state and lender. Per Lending For Bad Credit, APRs on its offers are no greater than 35.99% (as of October 16, 2026).
Personal Loans
35,646 customers chose this
Personal Loans
10,099 customers chose this
Personal Loans
1,128 customers chose this
Personal Loans
1,364 customers chose this
we can't guarantee the complete accuracy on a day-to-day
Before diving into each alternative, here is a quick comparison of what each one offers versus BMG Money.
| Lender | APR Range | Loan Amounts | Key Advantage |
|---|---|---|---|
BMG Money | 19.99%-35.99% | $500-$12,000 | Payroll deduction convenience |
Upgrade | 7.74%-35.99% | $1,000-$50,000 | Lowest starting APR |
5KFunds | Varies by lender | Up to $35,000 | Compare multiple offers |
Upstart | 6.2%-35.99% | $1,000-$75,000 | AI-powered, limited credit OK |
PersonalLoans.com | Varies by lender | Up to $35,000 | Compare multiple lender offers |
Low Credit Finance | Varies by lender | Up to $5,000 | Designed for bad credit |
Brigit | 0% (no interest) | Up to $250 | Budgeting tools included |
Earnin | 0% (no interest) | Up to $1,000/pay period | No mandatory fees |
Upgrade is one of the strongest alternatives if you have fair to good credit. APRs start at 7.74% - less than half of BMG Money's 19.99% minimum.
5KFunds is a loan marketplace that connects you with multiple lenders through a single application. Loan amounts go up to $35,000 - well above BMG Money's $12,000 cap.
Upstart uses AI to assess borrowers beyond just credit scores, considering education and job history. This means people with limited credit history may still qualify.
PersonalLoans.com connects borrowers with multiple lenders through a single free application. Loan amounts typically range from $1,000 to $35,000.
Low Credit Finance specializes in connecting borrowers with poor or limited credit to lenders willing to work with them. Loan amounts go up to $5,000.
If you don't need a traditional loan and just need help bridging the gap between paychecks, these two apps offer a fundamentally different model. Instead of borrowing money with interest, you access wages you've already earned or get small advances with no interest charges.
Brigit is a financial wellness app offering paycheck advances up to $250 with zero interest and zero late fees. It also includes budgeting tools and an optional credit builder.
Plans start at $8.99/month (Brigit Plus) or $14.99/month (Brigit Premium), which adds faster funding with no express fees.
Earnin lets you access wages you've already earned before payday. No mandatory fees, no interest, no credit check - just an optional tip.
Earnin advances up to $150 per day and $1,000 per pay period. New users typically start lower and build up over time. Lower limits apply in CT, DC, MD, MA, and NY.
Earnin also offers Balance Shield to help avoid overdraft fees and Health Aid for medical bill negotiation.
The right alternative depends on your specific situation. Here is a quick decision guide:
If you have good credit (670+ FICO): Start with Upgrade. Their APRs start at 7.74%, which could save you thousands compared to BMG Money's rates. You can borrow up to $50,000 and get funded within a day.
If you have limited credit history: Upstart is your best bet. Their AI considers your education and work history, so a thin credit file doesn't automatically disqualify you. Loans go up to $75,000.
If you have bad credit (below 580): Try Low Credit Finance first. They specifically work with lenders who serve borrowers with low scores.
If you want to compare offers: Use 5KFunds or PersonalLoans.com to see multiple offers side by side. This is the closest approach to what our comparison tool does.
If you just need a small amount until payday: Skip the loan entirely. Earnin and Brigit let you access cash without interest charges, which makes more sense than taking on a high-APR loan for a short-term gap.
BMG Money is a legitimate, regulated lender. However, their APRs range from 19.99% to 35.99%, which is above the national average for personal loans (around 11.65% according to the Federal Reserve G.19). The loans are safe in the sense that they are legal and regulated, but the high costs can create financial strain. Always compare the total cost of borrowing across multiple lenders before committing.
BMG Money charges APRs from 19.99% to 35.99% plus a 5% origination fee. Alternatives vary widely: Upgrade starts at 7.74% APR, Upstart starts at 6.2% APR, and paycheck advance apps like Earnin and Brigit charge 0% interest. The rate you qualify for depends on your credit score, income, and the specific lender.
Yes. Several alternatives work with borrowers who have low credit scores. Low Credit Finance specializes in connecting bad credit borrowers with willing lenders. Upstart uses AI to evaluate factors beyond your credit score, including education and employment history. Paycheck advance apps like Earnin don't check credit at all.
It depends on the lender and your repayment behavior. Traditional personal loans from lenders like Upgrade and Upstart report to credit bureaus, so on-time payments can help build your credit. Late or missed payments will hurt your score. Paycheck advance apps like Earnin and Brigit generally don't report to credit bureaus, though Brigit offers an optional credit builder feature.
The most similar alternatives to BMG Money's payroll deduction model are Kashable and OneBlinc, which also offer employer-partnered loans. For traditional personal loans without the employer requirement, Upgrade, Upstart, and PersonalLoans.com are strong options. If you just need a small amount until payday, Earnin and Brigit offer paycheck advances without interest.
Allotment loans are personal loans where repayment is made through automatic payroll deductions (allotments). BMG Money is one of the best-known allotment loan providers. Similar services include Kashable, which also partners with employers to offer payroll-deducted loans, often with competitive rates starting around 6% APR.
Traditional personal loan lenders will almost always check your credit. However, paycheck advance apps like Earnin don't perform credit checks at all. Brigit also skips the credit check and bases advance amounts on your income and banking patterns. For larger loan amounts without a traditional credit check, some employer-sponsored programs may use alternative verification methods.
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