Get Quick Cash Today With Same Day Payday Loans!
With surprise water bills or even an old medical debt that was never seen coming, it’s easy to fall behind in payments. Expenses can stack up, leaving consumers feeling pressured to make ends meet and make them meet soon. With same day payday loans, any borrower has the opportunity to cover their bills on their time!
Same day payday loans are simple, most lenders can loan upwards of $500 in a single day. With the correct bank account and routing number they may even be able to deposit it directly into your account! Same day payday loans are the answer to life’s most urgent and pressing problems!
How To Apply And Receive a Same Day Payday Loan in 3 Simple Steps
Many people believe they aren’t qualified to receive a same day payday loan, thinking it may take a lot longer than a day for them to get approved. This couldn’t be further from the truth, so long as you meet the basic requirements to be eligible even with bad credit you too can get approved! Even with poor to no credit, applications will still be considered by the investor. With no real strict lending policies, same day payday loans are an easy option to create a brief moment of respite amidst the mounting pressure of debt. Follow these painless steps and you’re sure to be funded:
Understand the rules and requirements
While getting a same day payday loan is simple, there are basic requirements that must be adhered to in order to acquire the money. Starting out, the borrower must be at least 18 years of age and a current resident of the state in which they wish to receive the cash. Next, they must have an active bank account, social security number and proof of income. The proof of income is very important and a major factor in how much lenders will grant. Finally, financiers will want a physical address as well as a phone number and email address. They’ll want contact information in case they need to reach you.
Locate a lender
There are many monetary institutions that offer payday loans. If money is needed fast, find a group that sells same day payday loans. Once a few choices have been found, understand that there are options. Going into a brick and mortar payday lender is a viable choice, but with the popularity of the internet, many lenders have their rates and applications online! Gone are the days of waiting in long winding lines, hello to getting paid from the comfort of your living room! Once all of the necessary documentation has been gathered and a suitable banker has been found, you’re ready to apply!
Collect the deposit and pay your bills
Same day payday loans work exactly as they sound: the application is submitted on a Thursday and if it’s approved a deposit will go directly into your account that same Thursday! Many lenders recommend applying early in the morning or right after they open to increase the chances of receiving an approval. With the correct banking and routing numbers, lenders will be able to deposit the cash straight into your account, allowing you to handle those pressing bills as soon as possible!
What Same Day Payday Loan is Best for Me?
There are several different types of same day loans. Depending on the project, many people have to get cash swiftly and not always the same dollar amount. When comparing loans, be sure to look at several elements that define the product. First, pay attention to the loan limits. How much is needed for a project, is that amount available the same day as the application? Second, lookover loan terms. Many same day payday loans have terms lasting as long as a month while other types of loans may allow you to make installment payments over a significantly longer time period. Lastly it is important to look at components of a loan such as MAX APR and if credit or collateral are required. We’ll take a look at all of these options in the table below:
|Law Status||Same day availability||Average loan amount||Average loan term||Influence on credit|
|Payday Loans||Legal||Yes, apply early for a better chance||$500||14-31 Days||None|
|Installment Loans||Legal||Yes, apply early for a better chance||$5,000||60-180 Days||Yes, credit needed and influenced|
While installment loans can give a much larger dollar amount over a longer period of time, they come with many more requirements than a same day payday loan. Namely, credit is a major factor in your ability to obtain money from an installment loan rapidly. Collateral or a guarantor is often required for installment loans as well. With same day payday loans, you can acquire upwards of $500 deposited into your bank account on the very same day you apply!
Frequently Asked Questions:
I have really bad credit, can I get approved for a same day payday loan?
Yes, you can! Even with bad or poor credit, many banks will still approve your application. Is it to be said that the poorer the credit score the higher the fees the financial institution will be willing to charge.
What if I have no credit? Like zero, zilch, nada?
No worries, while it certainly is not as common, some payday lenders have been known to approve applicants coming in with no credit history at all! It is rare but still possible to obtain same day payday loans even without a reputable credit history.
Do I need collateral or a guarantor to get approved?
No! Unlike other types of loans, namely installment or title loans, same day payday loans do not require either a guarantor or collateral. They offer both speed in funding and independence in repayment! A solid alternative for anyone needing a short term boost.
How much can I get from a payday loan if I receive it the same day as an application?
In most states, a loanee can receive any amount usually as much as $500 without needing credit or collateral.