What is a payday loan? A payday loan is a type of short-term, high cost loan, generally for $2000 or less. Short-term borrowing where a lender will extend high-interest credit based on your income.
What is a Payday Loan: Payday Loan Information for Consumers
6 offers
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
| loan amount: | $100-5000 |
| age: | 18 years of age or older |
| loan term: | 2 to 7 years |
| est. APR: | 6.63% to 485% |
information
- valid checking or savings account with direct deposit
- you should have worked at your current employment at least 90 days
- be a US citizen/permanent resident
- minimum regular income of $1,000 per/month after tax
- have a checking account in your name
- have a valid email
- have a home/work telephone number
Qualifications
- Minimum credit score: None.
- Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.
- Minimum gross income: $10,000.
- Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.
- Must have U.S. residential street address where borrower resides (unless military personnel on active duty).
- Must be at least 18 years old.
- Valid email account required.
- Personal bank account with U.S. routing number required.
Pros
- Allows secured and joint loans.
- Offers a wide range of repayment terms.
- Offers a 0.5% rate discount for setting up autopay.
- Offers significant rate discount for checking account customers.
- Offers rate discount with direct payment to creditors on debt consolidation loans.
Cons
- Charges origination fee.
- No co-signed loan option.
Online decision in seconds - Money within 15 minutes
under $ 5.000
under $ 1.000
under $ 35.000
When I was a little girl growing up in North Carolina, there was a company called "Check-Into-Cash". The television advertisements used by this company were so catchy that now, twenty years later, I can still sing them to you. Of course I did not really know what the company did, but I understood enough to know that if you needed money and your paycheck was not coming soon, the company would cash a personal check and you would pay them back when you received your paycheck. Come to find out, this has a name, a payday loan.
A payday loan online is one which is applied for to assist you between paychecks. Perhaps there has been an emergency and your bank account cannot withstand the pressure until your next payday. This type of loan can be quite helpful in such emergencies but can come at a large cost - higher interest rates than usual loans. There are several types of payday loans, each with their own set of benefits. Below you could find some payday loan information you may find interesting.
"No fax payday loan" is one type which the public seems to really like. This process saves time on the application as well as saving money for the borrower. Faxless loans are called as such because the documentation required to verify the credibility of the borrower can all be done without faxing in certified documents. This mainly means either an online application, or a system that does not require a credit check.
Payday loan online is a popular solution to an immediate need, because of the speed with which the loan can be attained. Most online cash advances are a form of the faxless payday loan. There are several websites that claim that with their company, the online payday load does not require the credit check that other payday loans may expect.
For those who may not want to get a loan which is secured by a future paycheck personal loans, credit cards, and debt consolidation are possible alternatives. While these would be helpful by not reducing a future paycheck, they are not going to put money in your hand today. In fact, each alternative will only be another payment you are expected to give whereas a payday loan will be paid back with the next paycheck and be done.
The requirements for obtaining a payday loan are few, the borrower must be 18 years of age, have proof of long-term employment, and a banking account. With many online lenders, the money is deposited into your account the next business day. Approval time varies depending upon the company and their procedure for credit checks or employment verification. There are some fees attached, other than the higher interest rates, but these too vary between companies.
If you find yourself in a financial crisis and need cash and you have a steady job, then perhaps a payday loan is the right choice for you. Be sure to check out each company and compare their services before agreeing to just one. Each company is different with their requirements, interest rates, and attached fees so be sure to do your homework.