Best Online Payday Loans

Online Payday Loans at a Glance


Online Payday Loan Lender Rankings!

Online Payday Loans in Depth Analysis.


What is a Payday Loan?

A payday loan is a short-term, unsecured loan (sometimes called a cash advance) and is often repaid when your next pay period occurs, although some states will let you delay the payment. The Rates & Terms of your individual payday loan may depend on the state you live in. The amount that the applicant may borrow varies from state to state, yet predominantly ranges between $200 to $1500.

One of the most appealing aspects is that applicants usually do not have to provide a credit report or credit history, and cash is deposited quickly and securely into their checking accounts generally by the next business day. This means that those who do have poor or non existent credit histories still have a chance to acquire the much needed funds fast and efficiently!


In most cases, your monthly payday loan payment will be pulled from your bank account on a set date(directly debited). In a situation like this, you need to be sure there's sufficient money in your bank account in order to cover the funds being withdrawn. You are also likely to be charged interest on your balance at that point; which may end up being more than the original amount you borrowed. For those who are not on direct deposit / debit, some loan lenders will give a one business day grace period (from payday) to deposit your payment.

In certain states you may have the option to pay off the loan early, which may result in you being eligible for a refund of all or part of your finance charges upon prepayment (if applicable). If unable to make timely payments on your loan, some loan lenders offer the chance to renew or extend a payday loan.

While payday loans have many advantages, the world of lending can be confusing. So take time to educate yourself about the short-term loan process before applying for a fast cash payday loan.

What Should I Pay Attention to?


Secure Site

Consider the underlying security technologies of the payday loan site, for example the presence of an SSL certificate that indicates the use of Secure Sockets Layer encryption, as well as its policies concerning the sharing of your personal information and whether you can control or limit the extent of information sharing.

Ease of Use

Observe how well the payday lenders organize their websites. Can you find the information you need without difficulty? What does it take to submit an application? How much personal information must you give out?

Cost of Loan

Instant payday loans are far more expensive than the interest rates you would pay if your debt were on a credit card. The rates and terms vary from lender to lender and from state to state, as does the amount available to be borrowed.

Customer Service

While you compare payday loan lenders, search for any online compliments or complaints. Find out what type of customer support is available and whether it corresponds with the days and times that suit you best.


Does the loan agency require an individual (a co-signer or a guarantor) who must willfully sign part of the loan agreement with the borrower and partly assumes responsibility of repayment of a loan? Similarly, do you need to offer any collateral prior to applying for the loan?

Payday loan collection practices.

Some direct payday lenders can be very aggressive in their collection of past due payday loans. Do all you can to make sure you stay current on your payday loans. Before you move forward with an online payday lender, be sure to understand the lenders payday loan terms.

Why Choose an Online Payday Loan?


Do I need a payday loan?

Payday loans are extreme remedies for those with no credit card, no savings and a reluctance to borrow from family and friends when in need of a source of cash in the case of emergencies.

The requirements for applying for a payday loan are usually much less stringent than that of more conventional institutionalized banking practices, often simply requiring that the applicant be over 18 years old, have a steady income with a gross salary of over $1000 per month and that they are a resident of the state in which they apply for the loan.

However, the interest rates are often quite high because the lenders are keenly aware that applicants for payday loans are not likely to have excellent credit histories. Therefore, if you must resort to quick loans, understand the rates and terms in detail. Paying back the loan as soon as your next paycheck arrives will keep you on financial track and keep interest rates and repayments from spiraling out of control.

What are the Alternatives?

  • Get an installment loan, personal loan or online title loan. These types of loans are different from traditional payday loans. With these methods of financing you can typically get a larger sum of money and pay it off over a longer period of time. The downside is that you will need a good credit score to be approved

  • Think about taking out an unsecured loan from a bank or credit union. Some retail lenders and online lenders can provide you with rates that are decent and you may be able to negotiate the payment terms. Much like the installment loan option listed above, you will probably need a better credit score to be approved than what you would need with a payday loan

  • Get a advance on your credit card or other type of financial instrument. This can be a decent alternative to payday loans, but you will still run into the issue of high finance charges and you won't always be approved for an advance.

  • The best alternative is to make sure you don't get in this situation in the first place. Ask yourself, "do i really need a payday loan?" If you have another source of income you will want to go with that option before taking the payday loan route. Try to work out a balanced budget and only purchase items that you need. These methods will help you avoid the need for a payday loan.