Same Day Payday Loans – Are They Really Possible?

Same day payday loans are actually the same as payday loans in that they are considered short term, unsecured cash loans that aid borrowers requiring fast cash and cannot wait for their next payday.

The main difference between typical payday loans and same day payday loans is that same day payday loans can be received by the borrower faster and as the name implies, on the same day you apply for a payday loan.

Payday lenders are only used by borrowers in order to cover unexpected and relatively small expenditures to avoid late payment charges and bounced-check fees typically accrued by borrowers with other types of loans.

In same day payday loans, borrowers are required to write a personal check concerning the borrowed amount, along with the finance charge that comes along with the loan. After successful completion of this, they receive their loan within a few hours or within the same day, and not after 24 hours after they apply for same day payday loans. In other cases, a borrower can also opt to approve electronic access to a bank account for the purpose of receiving the loan and for repaying the payday loan.

With payday loans, the lender will hold the borrower’s checks up until the date of the borrower’s next payday. For same day payday loan repayment, a borrower can: get back the written check by paying off with cash or permit the check to be credited at the bank.

A lot of people do live from paycheck to paycheck which translates to a financial crisis in the event that unexpected expenditures arise. In situations like these, if zero cash is at hand, your viable option would be same day payday loans.

Same Day Payday Loans Advantages

In most cases, same day payday loans have the following advantages:

  • Loan received the same day, hence, the loan’s name.
  • Effortless and quick application process.
  • No rigorous checking in terms of credit rating and employment verification.
  • Not teletrack and faxing.
  • Relatively affordable fees and terms.
  • No additional payments.
  • Utmost protection of borrower’s divulged information.
  • Flexible repayment terms.

Because most same day payday loan lenders don’t perform credit checks, borrowers with a low credit rating, as well as borrowers with no credit rating at all are eligible to apply for same day payday loans. In addition, since they also don’t verify a borrower’s employment record, same payday loans are ideal for people who don’t have an official place for business.

Likewise, same day payday loans lenders also offer flexible repayment terms, which is good news to borrowers who cannot meet the loan repayment on time. Most lenders just require borrowers to inform them ahead of time if repayment is projected to be later than the loan’s maturity date.

Generally, same day payday loans extensions are granted but with additional charges. In this scenario, borrowers can either pay only a part of the loan principle, as well as the finance charge on or before the deadline, or pay the finance charge only on the deadline.

Same day payday loans lenders are also known to constantly give out loans to borrowers who have been proven responsible with regards to loan repayment. Responsible lenders also go out of their way, at the expense of losing clients, to advise potential borrowers to only resort to same day payday loans for financial emergencies and not for continuous issues with budgeting.

Applying for Same Day Payday Loans

Applying for same day payday loans is generally very simple and more often than not, very safe. Application can either be done through phone or via the lender’s website online. With both application options, borrowers can get quotes instantaneously, and receive the money a few hours after loan approval or within the same day.

In both instances as well, the following information is required: your complete name, banking information, employment information (without verification), complete address of residence, and a photo for proper identification.

Primary requirements to avail of same day payday loans:

  • You must be 18 years of age or above.
  • You must be a legal citizen of the United States of America.
  • You must have a steady income of $1,000 every month or higher.
  • You must have an active savings account.
  • You must have a steady source of income or be employed permanently.

It is important to note that by submitting your application, you are requesting or establishing your intent to take out same day payday loans and that you will have to wait for the lender’s approval and the terms included in your loan if you’ve been granted one. You also have the option to withdraw your application at any time. You can officially confirm the information divulged in your application and agree to all conditions of the loan once it has been approved.

Choosing Same Day Payday Loan Lenders

Because of the current condition of our economy, more and more people are choosing to take out short term loans such as same day payday loans, and consequently, more and more lenders that offer these types of loans are also cropping up. Choosing a potential lender is vital since there are plenty of unscrupulous lenders ready to pounce on helpless people in need just to make a quick buck.

Preferably, you should research all your options before going with a specific lender. When researching, make sure to check their website, call their representatives to see how they handle inquiries and such, feedback from their other clients, whether on reputable review sites or people you know personally, and of course, their reputation. It is also wise that you check with the BBB or Better Business Bureau for any record they might have on the lender you are considering getting same day payday loans from.

So what are you waiting for? Get your same day payday loan today!


  1. Payday lenders make it simpler to get same day payday loans. It also makes it easier for you to negotiate a cheaper rate.You can complete an application online to make the approval and disbursement process go much faster.

  2. Carol & Bruce J.

    Paid for additional moving expenses with the $500 payday loan. Thank you for the great same day service!

  3. If you have bad credit and need cash today, we offer 1 hour loans with no credit check to help you regardless of your credit score.

  4. When a loved one gets put in jail, cheap payday loans can get you the money you need to make bail.

  5. On your birthday, there is no reason not to celebrate the day in style and no faxing payday loans can make that possible if there just isn’t enough in your bank account.

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