Yes, Chime applies a finance charge determined by your Instant Loan* amount and term. This charge is capped at an Annual Percentage Rate (APR) of 36%.
For example, a $100 loan paid on time over three months may have a total cost of $105. However, if you miss a payment on your Instant Loan or it becomes delinquent, simple interest will continue to accrue daily on your unpaid principal in accordance with Chime's stated Annual Percentage Rate (APR), which is capped at 36%.
*Instant Loans are made by The Bancorp Bank, N.A.