Tax Refund Loans: Get an Advance in 2025

Tax refund loans provide fast cash while you wait for the rest of your refund, but tax preparation costs can outweigh the benefits.

Tax Refund Loans Give Cash Now to Early Filers

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Updated Dec 10, 2024 · 4 min read

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If you need cash while waiting for your income tax refund, some tax preparation services — like Jackson Hewitt, H&R Block and TurboTax — offer tax refund loans.

Tax refund loans, also called "refund advance loans" or “refund anticipation loans” let you access your refund early. The tax preparation company lends you money that is repaid with your tax return. Some loans charge zero interest, while others include interest if you want the funds before 2025.

Tax preparers typically require borrowers to file their taxes with them, which can come with a fee. In paying a tax preparer just to get the advance, you’re basically paying to access your own money.

» MORE: Tax calculator: Estimate your refund

What are tax refund advance loans?

Tax refund advance loans are short-term loans that are repaid through your upcoming IRS tax refund. Loans are usually offered from December through February, and amounts can range from $100 to $4,000. In most cases, the loan amount is deducted from the tax refund once it’s issued.

Some loans can be dispersed within 24 hours on a prepaid card or within a few days as a direct deposit to a bank account.

To be eligible for most tax refund loans, you must have your taxes prepared by the company offering the loan, and that might mean you’ll pay a tax preparation fee. Tax preparers may have a minimum refund amount requirement to qualify, and you may get only a portion of your expected refund in advance.

🤓 Nerdy Tip

A tax refund loan is an option if you need money quickly, but you can save on fees if you're willing to wait. The IRS partners with tax preparers to offer a free filing option for those who meet the income requirement. It can take up to three weeks to receive a refund from an e-filed tax return, or longer if the return was sent by mail or required corrections or extra review.

» MORE: Where’s my refund? Refund status tracker guide

Where to get tax refund loans

Jackson Hewitt

Jackson Hewitt offers two refund advances. The Early Tax Refund Advance loan, which has a 35.96% annual percentage rate, is available starting in December 2024, while the No Fee Refund Advance loan, with a 0% APR, is available in January 2025. If you receive an Early Tax Refund Advance, you’re required to apply for the No Fee Tax Refund Advance. Republic Bank & Trust Company issues both.

Federal tax refund amount	To qualify for the largest Early Tax Refund Advance loan, your expected federal tax refund must be at least $4,600. To qualify for the largest No Fee Tax Refund Advance loan, the required minimum refund amount is $3,600.
Loan amounts	Early Tax Refund Advance: $100, $300, $500, $1,000 or $1,500. No Fee Tax Refund Advance: $250, $500, $750, $1,000, $1,500, $2,500, $3,000 or $3,500.
APR	Early Tax Refund Advance: 35.96%. No Fee Tax Refund Advance: 0%.
Funding time	Funds are available the same day you apply for the loan if you choose to have the money loaded onto a prepaid debit card. Funding can take one to five business days if you want the loan deposited into a bank account.
Requirements	You must have your taxes prepared at a Jackson Hewitt storefront location or participating Walmart stores. The Early Tax Refund Advance requires a recent pay stub, government-issued ID and Social Security card. If you receive an Early Tax Refund Advance, you’re required to also apply for the No Fee Tax Refund Advance loan. The No Fee Refund Advance requires a W-2 and other tax documents.
Tax preparation fee	Varies and is determined during your tax filing appointment.
Deadline	The Early Tax Refund Advance is available from Dec. 16, 2024, through Jan. 12, 2025, at select Jackson Hewitt locations. The No Fee Tax Refund Advance is available from Jan. 2, 2025, through Feb. 16, 2025, at most Jackson Hewitt locations.

» MORE: Compare the best tax software

H&R Block

H&R Block also offers two advances. The Emerald Advance loan is available through December 2024. Unlike zero-interest tax refund loans, the Emerald Advance operates like a traditional personal loan with an APR of 35.9%. You can use your tax refund to repay the loan or repay by debit card, check or money order. The loan must be repaid by March 31, 2025.

H&R Block's Refund Advance loan is available starting in January 2025. The Refund Advance has no interest or fees, but it requires filing your taxes with H&R Block. Pathward, N.A., issues both the Refund Advance loan and the Emerald Advance loan.

Minimum federal tax refund amount	H&R Block did not specify a minimum refund amount.
Loan amounts	Emerald Advance: $350 to $1,300. Refund Advance: $250, $500, $750, $1,250 or $4,000.
APR	Emerald Advance: 35.9%. Refund Advance: 0%.
Funding time	Emerald Advance: H&R Block did not specify funding times. Refund Advance: Same-day funding is available. For either loan, you can choose to get the funds sent to an H&R Block-issued prepaid debit card or a spending account that you receive during your appointment.
Requirements	Emerald Advance: You must provide proof of identification and income. Filing your taxes with H&R Block is not required for this loan. Refund Advance: You must have your taxes prepared by H&R Block (either in person or via a virtual appointment), receive a sufficient refund amount and provide proof of identification. You must also meet certain credit and other underwriting requirements.
Tax preparation fee	Fees start at $89, and there may be an additional state filing fee.
Deadline	The Emerald Advance loan is available at participating locations from Nov. 1, 2024, to Dec. 31, 2024. The Refund Advance loan is available from Jan. 3, 2025, to Feb. 28, 2025.

» MORE: NerdWallet’s review of H&R Block’s tax software

Intuit TurboTax

First Century Bank and WebBank fund Intuit TurboTax’s zero-interest Refund Advance loan. TurboTax customers can apply for the loan online when they file their taxes. If approved, borrowers must open a Credit Karma Money checking account to access the loan.

Minimum federal tax refund amount	$500.
Loan amounts	$250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500 or $4,000.
APR	0%.
Funding time	Funds are deposited into a Credit Karma Money checking account within minutes after the IRS accepts your e-filed tax return. You can access the money using a virtual debit card immediately. A physical debit card can take one to two weeks to arrive.
Requirements	There are several eligibility requirements for the TurboTax refund advance. Here are some of them: You must e-file your federal tax return with TurboTax. You can’t be a resident of Connecticut, Illinois or North Carolina. You must open or have an existing Credit Karma Money checking account.
Tax preparation fee	TurboTax fees vary based on the type of service you choose and the complexity of your tax return.
Deadline	The Refund Advance loan is available until Feb. 28, 2025.

» MORE: NerdWallet’s review of TurboTax

How do tax refund loans work?

You submit an application for a refund loan when you file your return with a tax preparer.

Most tax preparers partner with a bank that lends the funds. For example, Republic Bank & Trust Company issues tax refund loans for Jackson Hewitt.

Tax refund loans don’t usually have the same credit score requirements as unsecured loans, but the bank may review an applicant’s credit profile with a soft credit inquiry that does not affect their credit score.

Qualification can depend on the amount of your expected refund. Tax refund advance loans require identity verification and a review of your tax return inputs and history.

Once approved, you can typically access the loan amount quickly in a checking account provided with the tax preparer, on a prepaid card (which could come with restrictions and fees of its own), or the funds will be deposited into your bank account.

The tax preparer will automatically deduct the loan amount, plus any interest, from your refund when the IRS releases it.

How much does a tax refund loan cost?

While a tax refund loan may have zero interest, tax preparation fees can vary depending on the complexity of the return.

Let’s say you get a $500 tax refund loan against your refund that arrives a month later. If you pay an $89 tax prep fee to file your taxes, the fee is equivalent to an annual percentage rate of about 217%. Although, if you were going to pay for tax prep anyway, you might value the loan differently.

Some tax refund loans may have interest charges which can make a small loan feel expensive. A $100 tax refund loan with Jackson Hewitt’s Early Tax Refund Advance has an APR of 35.96%, according to the company’s website. That’s not including tax preparation fees or prepaid card fees, which can add up on a small loan.

While an advance can be a way to get cash quickly, it may be cheaper to wait for the IRS to send your refund directly to you.

🤓 Nerdy Tip

Tax preparation companies aren’t the only places that offer tax refund loans. You may also find these types of loans advertised by payday lenders or cash checking companies that may charge high rates and fees. Read the fine print and make sure you understand the cost of borrowing before signing any loan agreement.

» MORE: Explore alternatives to payday loans

Pros and cons of tax refund loans

Pros

You can get a loan without a hard credit pull.

Loans may be interest-free.

Funding is fast.

Cons

You may have to pay a tax filing fee.

You may be required to open an account or debit card of the tax preparer’s choosing.

The loan is subtracted from your IRS tax refund.

Tax refund loan alternatives

You could get a lower rate on the same size loan elsewhere and then use your refund to pay it off.

Cash advance apps provide a low- or no-fee advance on your paycheck. You can typically borrow up to a few hundred dollars, and the app will withdraw the advance amount from your bank account on your next payday. However, they may charge a subscription fee, an expedited funding fee or ask for an optional tip. These apps can be helpful if you need funds quickly, but they aren’t a long-term solution.

Payday alternative loans, offered by some credit unions, allow their members to get payday alternative loans up to $2,000, depending on the type of loan. These loans have a maximum APR of 28%, with application fees capped at $20.

Small personal loans offered by some online lenders start at $1,000 with next-day funding after approval. Rates range from 6% to 36%, and qualifications vary by lender. Good- or excellent-credit borrowers (those with a 690 score or higher) with high incomes and little existing debt qualify for the lowest rates.

» MORE: What is a holiday loan?

Lenders that offer small loans and fast funding

If you don’t expect to get a refund that covers your needs, or you want more time to repay the funds, consider getting a loan with an online lender that offers fast funding.

These lenders can fund a loan in one day and have minimum loan amounts starting at $1,000. Repayment periods typically range from two to seven years. Repaying a personal loan on time can help you build credit, but understand the risks before borrowing.

» MORE: Best emergency loans

Lender	Minimum loan amount	Time to fund
Upgrade 5.0 NerdWallet rating	$1,000.	One business day.
Upstart 5.0 NerdWallet rating	$1,000.	One business day.
LendingClub 4.5 NerdWallet rating	$1,000.	One business day.
Best Egg 4.5 NerdWallet rating	$2,000.	One business day.
Universal Credit 4.0 NerdWallet rating	$1,000.	One business day.
Prosper 4.0 NerdWallet rating	$2,000.	One business day.

Frequently Asked Questions

What is a tax refund loan?

A tax refund loan is a short-term loan you can take out through a tax preparer when you’re anticipating a refund. It allows you to access your refund early, and the loan is deducted from your refund once it’s issued.

Can I get a loan based on my tax refund?

Yes, tax preparers like H&R Block, Jackson Hewitt and TurboTax allow you to access your refund early by partnering with banks to issue a tax refund loan.

When are tax refund loans available?

Tax preparers typically provide tax refund loans from December through February. However, exact times can vary depending on the tax preparation company.

How fast can I get a tax refund loan?

Some tax preparers can fund a refund loan the same day you’re approved. Depending on how you’ll receive the funds, it could take a few days.

Can I get a loan on my tax refund if I already filed?

Typically, you apply for a tax refund loan when you file your taxes at a tax preparer. Jackson Hewitt requires you to visit a participating office location or Walmart store, H&R Block has options for in-person or virtual appointments, and Turbo Tax lets you apply online for a tax refund loan when filing your taxes.

Article sources

NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.

1. Federal Reserve Bank of St. Louis. Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan. Accessed May 23, 2025.
2. Experian and Oliver Wyman. Financial Inclusion and Access to Credit. Accessed Jan 23, 2025.
3. National Credit Union Administration. Credit Union and Bank Rates 2024 Q4. Accessed May 23, 2025.
4. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 27, 2025.
5. Internal Revenue Service. Retirement Topics - Plan Loans. Accessed Apr 8, 2025.
6. Internal Revenue Service. Retirement topics: Exceptions to tax on early distributions. Accessed Apr 8, 2025.
7. Administrative Office of the U.S. Courts. Bankruptcy Basics. Accessed Apr 8, 2025.

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