Instant payday loans

What you should look out for with “instant” payday loans

Find out if payday lenders can offer instant loans and cautions to look out for.

A payday loan can help you get out of a tight spot, but despite what lenders promise, instant payday loans don’t exist. Some lenders automate approvals online if you meet eligibility criteria, but the earliest you can get your money is the next business day.

Check into Cash Payday Loan

Check into Cash Loans

With Check into Cash, directly apply for a payday loan get your cash when you need it.

  • Min. Loan Amount: $50
  • Loan Term: Varies by state
  • Turnaround Time: 1–2 business days
  • Total Costs: Varies depending on the amount and your state of residency.
  • Must be at least 18 years old.
  • No security required.
  • Confidential and secure.

    Can I get a payday loan instantly?

    No, but you may be able to receive your funds quickly if you apply in a store. If you apply online, your loan funds could be available in one business day (though it might take longer, depending on your bank).

    State laws determine how much you can borrow, and the lender sets qualifications you must meet to be approved.

    Our guide can help you determine whether to get an online or in-store loan

    How do quickly payday loans work?

    If you want to get a quick payday loan, you must meet some eligibility criteria first.

    Applying at a storefront means your application is processed within a few minutes, but you’ll need to bring along your documentation. With online payday loans, you typically submit everything online from the comfort of your own home and receive a preliminary decision within minutes.

    The time it takes for funds to get to your bank account depends on the lender you choose. Storefront lenders can give you funding that day, and most online lenders can transfer your loan to you as soon as the next business day. If you have an eligible prepaid debit card, you may have the option to have funds loaded on it.

    If you apply in store, you may have to leave behind a physical check that the lender can cash on the due date. With online loans, the money will be automatically debit your repayments from your bank account on the due date.

    A selection of short-term loans you can apply for

    Here are some loan providers you can apply with. Note that the max loan amount is based on the provider’s max amount. The amount will vary based on your state of residence.

    Rates last updated October 23rd, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
    $250
    7–30 days
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    Varies by state
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    ACE Cash Express Payday Loans
    Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    Compare up to 4 providers

    A selection of lender-matching services you can apply with

    Lender-matching services are not lenders, loan brokers or agents for any lender or loan broker. They also do not make credit decisions. Instead, they focus on trying to match you with a lender that might be able to provide the funds you seek. Note that the maximum loan amount is based on the matching service’s maximum varies by your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.

    Rates last updated October 23rd, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    Bad Credit Loans Personal Loans
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    3 to 60 months
    Varies based on lender
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    TriangleCash Payday Loans
    If you have bad credit or no credit history, apply to be matched with a network of lenders for funding at rates that vary by state.
    $1,000
    Varies based on lender
    As soon as next business day
    You must be a US citizen, at least 18 years old, and have a valid bank account.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.
    $2,500
    Varies by lender
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,200
    Varies by lender
    Next business day
    Must be at least 18 years old and employed or have regular income.
    LoanSolo.com Payday Loans
    Get matched with a legit lender offering convenient payday loans and quickly get funds.
    $1,000
    Varies by lender
    As soon as one business day
    You must be 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    ExtraLend.com Installment Loans
    This free and simple service matches you with online lenders offering installment loans.
    $3,000
    Varies by lender
    As soon as one business day
    Must be at least 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    iCashLoans.com Short Term Loans
    Potentially get a loan through a network of 100+ lenders. One simple online application.
    $1,000
    Varies by lender
    Varies by lender
    Be employed, have a bank account in your name and income of at least $1,000 per month.
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this broker may be able to match you among its nationwide network of lenders.
    $999
    Up to 12 months
    1–2 days
    You must be at least 18 years old with take-home monthly income of at least $1,000 after taxes.

    Compare up to 4 providers

    Tickets to the game

    Man on tablet Hugo’s best friend is moving soon, and he wants to treat him to tickets for the Big Game. Good seats are costly — about $90 per person — and Hugo knows they’ll be sold out if he waits until his payday.

    He decides to look into a payday loan that deposits cash directly into his checking account. Hugo finds a lender with minimal fees that he can afford, and he completes an in-store application. The next day, he has the money he needs to give his friend the sendoff he deserves.

    Top features to compare

    If you’re thinking of applying for an instant payday loan, take some time to review these features to choose a lender that’s right for you.

    • Quick processing time. Some lenders provide faster approval if you apply in a store. Others can take a few days to get the funds to you. If you want the money quickly, confirm how long a lender will take to give you the money you need.
    • Larger loan amounts. State laws govern the maximum amount payday loan providers can lend, but not all lenders let first-time borrowers apply for the maximum. Some lenders require borrowers to work up a tiered system before they can borrow the maximum amount.
    • Interest and APR. State regulations restrict the maximum interest payday lenders can charge, but increased competition means you can expect to find some loan provider that charge lower interest than others.

    Find out the best lenders who provide quick payday loans

    Benefits and drawbacks to consider

    What are the benefits?

    • You can use the funds for any purpose. This includes paying bills, car repairs, traveling or simply getting through a financial rough patch — as long as it’s legal.
    • You can still apply with bad credit. Bad credit doesn’t have to stop you from getting a loan. Most direct payday loan providers focus on your ability to repay, instead of your credit rating.
    • You’ll get the money quickly. If you need money in a hurry, applying for a payday loan is one of your options. Some lenders can give you the required money within minutes.

    What are the drawbacks?

    • You’ll pay higher fees. Payday loans tend to charge considerably higher interest when compared to conventional loans. If you don’t repay your loan on time, you could be penalized with additional fees.
    • It is a short-term solution. You typically have to repay on or before your next payday. If want a longer loan term, consider an installment loan. Using short-term payday loans is not a solution for a long-term problem. Don’t get stuck in a cycle of debt.

    Are same day payday loans legit?

    Is there anything else to consider before applying?

    Pay particular attention to the time a lender takes to process your application and disburse approved funds. If you need money in a rush, waiting four or five days to get it might not be best for your needs.

    Make sure you know exactly how you’re going to repay the loan. If you aren’t able to pay back the loan on time, you could be charged extra fees and higher interest rates. On top of that, your credit rating might also suffer.

    Limit your search to state-approved lenders with valid licenses.

    Are payday loans available in my state?

    Frequently asked questions

    You can complete most applications in 10 to 15 minutes, provided you have the required information close at hand.

    Yes, as long as you meet the lender’s eligibility criteria and the lender operates in your state.

    Yes, online payday loan providers require applicants to give details of bank accounts that allow direct debits and credits.

    Most payday lenders will deliver funds your bank account on approval. Alternative funding can be deposited onto prepaid debit card or funded in cash. Confirm your options with your potential lenders before applying.

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    2 Responses

    1. Default Gravatar
      AmyMarch 10, 2017

      I live in Connecticut and I need an installment loan ASAP. Do you know of any lenders?

      • Staff
        AnndyJuly 1, 2017Staff

        Hi Amy,

        Thanks for your question.

        Unfortunately, none of the lenders on our installment loan page offer installment loans in Connecticut. You may want to consider getting a short-term loan if you intend to borrow a small amount immediately.

        Cheers,
        Anndy

    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.