Payday Loans Online Same Day Deposit

Are you in a tight situation and can’t wait till the next paycheck to get it fixed? Let US Installment Loans, an established loan broker connect you with lenders that can help you with a payday loan today.

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A same-day payday loan is an excellent option for people seeking to cater to one or two financial emergencies before their next salary comes in. Same-day payday loans can be used to pay off urgent medical bills, settle small debts, and repair car issues; just about anything really.

However, as good as payday loans look, there are some things to watch for, otherwise, compulsive borrowing could kick in, and lead one to being debt-ridden. Thankfully, this article provides answers to curious readers like yourself on everything about payday loans, how to manage debt, and how US Installment Loans can help you get the best payday loan deals.

Do Same-Day Payday Loans Exist?

Most same-day payday loan lenders, especially those within the US Installment Loan’s network, have high approval rates. However, whether or not you can get the loan within the same day of applying hinges on how early you apply for the loan. Other factors that may influence this include how much you apply for, how quickly your bank processes deposits, and your lender’s funding policy.

So, a good answer to the question would be; Yes, same-day payday loans DO exist. However, you may have to wait till the next business day to get funded depending on the interplay between the above-listed factors.

Do I Qualify for a Same-Day Payday Loan?

You’re qualified for a same-day payday deposit loan only if;

  • You’re over 18,
  • You’re a citizen or permanent resident of the United States,
  • You’re not in the military,
  • You have a stable job with a stable income,
  • You have an active bank account.

See? You don’t necessarily need a good credit score to apply for a payday loan. Before you venture into other risky cash acquisition options, check if you meet the requirements stated above and let US Installment Loans connect you to lenders who put their clients first. Since most of the requirements are easy to meet up to, you have a very good chance of getting approved for a loan.

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How Do I Apply for Payday Loans Online With Same-Day Funding?

Although each lender has its unique funding policy, applying in the wee hours of the day is the surest way to get your cash as soon as they can process it. Here’s how to apply for a loan on US Installment Loans;

  • Fill out this simple, short form. You’ll be required to supply useful information like your contact details, the purpose of the loan, name, credit score, and so on.
  • Once done, submit your information and wait for an offer from an interested lender. You will be connected to tens of lenders who will review your submission, and run affordability checks on your profile to see whether or not you can take on more debt and how much. An approval decision should be made in 5 minutes tops. If approved, you will be sent a quote/offer.
  • Once the quote comes in, read carefully through the terms and conditions of the offer and accept them if they favor you. You may get more than one offer. So, you may want to compare these offers and choose the one that works best for you.
  • Sign the offer and you could have the cash deposited in your checking account as soon as the same day or the next business day.

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What Are the Benefits and Risks of Getting Same-Day Payday Loans?

Same-day payday loans have a number of pros but as with everything else, it also has their own fair share of cons. What are these pros and cons? Do the pros outweigh the cons? Or is it the other way around? Let’s see;


Borrowers get the cash that same day: That’s the genius of the payday loan process. The whole thing is done so you can get your funds within 24 hours after you apply. With a few taps and clicks and within one day, you can squeeze yourself out of that financial mess.

There’s no need for collateral: Payday loan lenders are not so keen on collateral. Present proof that you can afford the loan and you’re good to go.

Bad credit borrowers are considered: As far as payday loan lenders are concerned, credit history, is only a reflection of how you’ve spent in the past and has little to no correlation with your spending habits going forward. Therefore, you still stand a good chance of getting approved for a payday loan with bad credit.

Eligibility conditions are reachable: Most bank loan borrowers can testify to how difficult it is to meet the long list of bank loans requirements. In contrast, it’s a lot easier to meet those of same-day payday loans. Most of these have been highlighted earlier in the article.


They are pretty expensive to get: Payday lenders don’t require collateral or a good credit score to grant loans. As a result, they find ways to offset the lending risk they are taking. One such way is charging high-interest rates. Today, the APR of the ideal payday loan could get as high as 530%.

You’re much more likely to get in a debt loop: The expensive nature of payday loans makes it sometimes hard to settle. This is why you should only borrow what you need and can pay off in time.

It’s not a long-term solution: Payday loans are only used to settle financial emergencies and shouldn’t be thought of as an every-month thing. You can get one every once in a while but you shouldn’t depend on it.

You can hardly get a loan if you’re unemployed: Remember that payday lenders focus majorly on your employment status to grant you your loan. Without a stable job with stable income, it’s almost impossible for you to get one.

To help you handle some of these cons, US Installment Loans has made partners with lenders who charge comparatively low-interest rates, have convenient repayment options, and have loan packages for citizens who may be unemployed but enjoy government benefits.

How Does US Installment Loans Compare?

default imgWhy Us
How much do I qualify for?Up to $35000Competitive rates
What's the max loan length?Up to 36 monthsFast decisions
Do lenders check my credit?YesSoft credit checks
All credit levels accepted?YesBad credit doesn't matter
Chances of approvalGoodHigh approval rates
When am I allowed to apply?24/7 onlineEasy application
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What Are Other Online Loan Options With Same-Day Deposit?

Skeptical about taking out payday loans? Or do you just want to check out other loan options to help you see which is best for you? Browse through the following loan acquisition options and see which one works for you:

Installment loans

Simply put, an installment loan is a long-term personal credit loan that is to be settled over a longer period of time, usually around 2 to 72 months. They also require no collateral and have lower APR than payday loans. A major upside to this loan option is that the borrower is allowed to take out loan amounts higher than the ones permissible for short-terms loans. The downside? You need a FICO score of at least 580, which puts you in the fair (not bad) credit range, to be considered by lenders.

Title loans/pawns

Title loans (aka auto/car title loans) are secured short-term loans where the borrower’s auto title is used as collateral. The lender makes a valuation of the vehicle, then offers the borrower 25%-50% of this value. As expected, since collateral is involved, the borrower can negotiate higher amounts, and lower interest rates, and still get approved even if they have a bad credit score.


Can I get a same-day loan with bad credit?

Yes, you can! Payday loans aren’t restricted to people with fair FICO scores alone. As long as you meet up with the eligibility requirements to get one, you have the go-ahead to apply. Nonetheless, you should know that getting a payday loan with bad credit might be a bit expensive. So you’d better pick a loan you can afford to settle within the time given.

Can I get same day payday loans with no credit check?

No credit check in this context describes the lender’s indifference to checking and using your credit score/report as a criteria for granting your loan. So, yes, you can get same-day payday loans with no credit check. However, many payday lenders do conduct credit checks from time to time to stay updated on your FICO score (also not used as a criteria to grant a payday loan). But these credit checks are soft ones and won’t reflect on your credit report.

Are there same-day payday loans for the unemployed?

It all depends on the type of lender you use. Since payday loan lenders use your employment and income status in assessing how much loan you can get, it may be hard (but not impossible) to come across a lender able to grant payday loans. A few US Installment Loans partner lenders have loan offers for unemployed people who may enjoy government benefits or any other stable source of income. You could try getting those too.

How can I increase the odds of getting same-day funding?

First things first; start your application early in the morning (before 10 a.m). Then, make sure you meet the eligibility requirements mentioned in some sections above. Keep an open mind that some online lenders may have more requirements aside from the ones mentioned above and your cash may not be withdrawable till the following business day.

How to select the best same-day direct lender?

You can select one based on the following metrics - APRs, loan terms, hidden fees, interest rates, loan terms and conditions, and lender reviews. However, juxtaposing lenders to see which is best might be a little stressful and time-consuming. That’s why we recommend using a loan broker or connecting service.

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Find Your Ideal Lender with US Installment Loans Today!

We understand the risks of taking out an emergency same-day loan. However, this shouldn’t stop you from solving your financial emergency. With connections to over 150 bad credit same-day lenders, US Installment Loans’ got your back. Get started with the application process now!

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