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Same Day Payday Loans

How to obtain same day payday loans without a credit check

In today’s tough economic situation, hundreds of thousands of Americans are finding it very hard to meeting all financial requirements. Making payments for utility bills, children’s school fees, medical emergencies etc, have become really difficult especially for those who live between pay periods. To cope with such expenses, people often approach for online loans like same day payday loans rather than traditional loans. Traditional lenders like banks and credit unions usually consider the borrower’s credit rating as a decisive factor while reviewing the loan application. But in present economic downturn, millions of Americans are suffering from bad credit which has made it extremely difficult for them to get a traditional loan. Under such circumstances, the only option left for poor credit holders is getting a personal or payday loan.

Basic qualifications

Getting same day payday loans is very easy. Still you need to meet some basic qualifying criteria to get hold of a same day personal loan and those are:

  1. You must have attained the age of 18

  2. You must be a legal citizen of United States

  3. You must have a bank account with positive balance, so that the loan can be transferred to that account

  4. You must be employed with the same employer for a minimum of 6 months before applying for the loan

  5. You must have a minimum monthly income, pre-set by the lender

Although your credit rating won’t come in the way of loan approval, yet you must meet the mentioned criteria in order to get a personal loan.

Application procedure

Every individual, even the most organized one, has to borrow money at times in his life. Whether from a friend or a lender, you can hardly find any person who hasn’t borrowed any money in his lifetime. Irrespective of the reason, if you run out of cash at the end of month, you may surely opt for a payday loan. It is very easy to apply for such a loan, but following some steps would make the entire process of loan application and disbursement faster and easier and here they are.

  1. Locate a lender – There is no dearth of payday lenders; you may find many in your locality. You may work with any of them, but only after checking its legitimacy. You can also work with an online payday lender. Simply type the term like ‘same day payday loans’, ‘payday loans’ or ‘same day loan’ on your favorite search engine and you will get a list of online payday lenders. Shortlist the lenders as per your choice; visit the official website of your preferred lenders. After navigating throughout the sites of different lenders, select one that you like the most.

  2. Fill out the loan application – Whether a local lender or an online lender, you need to complete the loan application for getting a payday loan. Fill out the application with correct information. Don’t provide any wrong or false information as the lenders are very likely to verify the information while reviewing the application. Therefore, if you provide any incorrect or false info, your loan application may be rejected. The application form that you need to fill out is very short and thus you don’t need to spend much time for filling it out. Some basic information like your name, contact address, contact number, employer’s contact address and contact number should be provided on the application form. Some lenders ask for references too.

  3. Furnish documents – Now it comes to furnishing important documents. You have to provide employment proof, income proof, identity proof, address proof and bank statement as a proof of your bank account with positive balance. Most lenders require the borrowers to provide paystubs of last 2 months, recent bank statement, photocopy of driving license etc. as evidence.

  4. Write a check – Local payday lenders are very likely to ask you for writing a post-dated check for the loan amount plus levied interests and other fees. Maximum loan amount and interest rates differ from state to state and from lender to lender. Pay back the loan on the due date, i.e., your forthcoming salary day and take your check back from the lender. But if you fail to pay the loan back on the pre-set date, the lender would cash in the check to free up their money. However, with online lenders, you may not need to provide any post-dated check. Local payday lenders generally lend the money either in cash or in check. But, online lenders generally transfer the loan directly to the bank account of the borrower.

Benefits

Online same day payday loans are more preferred than traditional payday loans. Many individuals opt for online payday loans for a number of reasons and some of them are,

  • Such loans ensure quickest access to money

  • The loans are disbursed through secured transaction process

  • Irrespective of credit health, a borrower can be eligible for getting such loans

  • The borrowers can expect to get the loan without facing any hassle

  • The loan is directly deposited to the borrower’s account within 24 hours of submission of the loan application

  • Usually the borrowers get sufficient time to pay back the loan

  • The loan amount is directly deducted from the borrower’s bank account

These are just some of many benefits for which people prefer to apply for same day payday loans. These loans come really handy, provided you use them properly.

Our network of members ensures fastest approval of same day payday loans. You don’t even need to fax your documents for loan approval.

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