With our global economy in the state it is nowadays, more Americans than ever before are applying for payday loans online. There are many reasons for this, and each is just as valid as the next. Most Americans who apply for payday loans online do so because it’s the quickest and easiest way to get the money they need in a hurry. The other common reason individuals apply for payday loans online is that they are over-indebted and cannot afford to save any money to take a holiday or even pay outstanding bills. The stats show us that millions of Americans have no emergency savings at all.
For these very reasons, many Americans may describe themselves as “cash-strapped.” This is where payday loans online come in handy. Payday loans online can be used for anything and everything. You can use a payday loan to pay an outstanding bill, emergency medical expenses, or even a holiday abroad for the family. When making an application, you won’t be drilled on the details of your spend. Before you dive in, however, you need to understand exactly what you’re getting into. In this overview, we hope to educate prospective borrowers on the ins and outs of payday loans online. We provide honest reviews on five different loan matching sites you can use to apply for payday loans online. So check the editor’s favorites picks below.
Online Best Payday Loans – Quick Overview
- Viva Payday Loans: Overall Best for Online Payday Loans in USA
- Low Credit Finance: Best For 60-Minute Payout
- Green Dollar Loans: Best For Quick Payday Loans
- Big Buck Loans: Best For Quick Online Approval
- Credit Clock: Best For Same Day Loan
Top 5 Best Payday Loans Online For Bad Credit with No Credit Check 2022 – Full Reviews
There are hundreds, if not thousands, of platforms offering what they call the “best” online payday loans comparisons. If you find yourself wondering what are the best online payday loans, you’ve come to the right place. Below, we review what we think are viable options when looking for the best online payday loans for you and your current financial situation.
#1. Viva Payday Loans: Overall Best Broker with No Credit Checks
Viva Payday Loans is a growing platform known to match borrowers with payday loans online same-day deposit lenders. They boast an easy-to-understand and quick-to-complete online application form that anyone can submit. Viva Payday Loans’ online application system is fully automated, and the entire process from beginning to end shouldn’t take you any longer than a few minutes. When you apply, you can choose whether or not to accept the loan offers you have been matched with. And keep in mind that just because you have applied for a payday loan, it does not mean you are obligated to accept any offers. Your application also doesn’t guarantee approval.
The biggest selling point of Viva Payday Loans is the quick turnaround time the lenders on their panel offer. You will need about 5 minutes to apply, a steady internet supply, and any device capable of accessing the internet. After you have completed the application form, Viva Payday Loans will match you with various lenders offering different loans and interest amounts. On the platform, you will find payday loans online same day of between $100 to $5000 with repayment periods of 2 to 24 months. They also have a recommended interest rate of 5.99% to 35.99%. Still, because of the competitive nature of the industry, most lenders try keep their interest rates as low as possible. It is important not to be tempted to accept a loan you know you cannot realistically afford. This is because the array of payday loans online are meant to be a way for you to improve your financial situation, not simply get you into a cycled of debt.
Viva Payday Loans matches borrowers with fast payday loans providers offering payday loans, installment loans, unsecured payday loans, secured payday loans, and many more. When using Viva Payday Loans, most users find the process to be simple and hassle-free. If you’ve been hunting for payday loans online, no credit check instant approval, your best bet at finding a viable alternative is at VivaPaydayLoans.com. If you’re expecting instant payday loans online guaranteed approval, keep in mind that loans simply cannot be guaranteed until the data provided has been verified. You will be required to pass an affordability assessment and present supporting documentation. Supporting documents required include: a copy of your ID, proof of address (a utility bill, phone bill, etc.), three months bank statements (to confirm how much you receive and spend each month), and possibly your pay slips (to ensure you are employed and can indeed pay your installments on time).
Minimum earnings are set at $1000 per month, but you can receive these earnings in alternative ways. This means it is not stipulated that applicants must have a traditional job, as it’s entirely acceptable to get your income from rental properties, dividends, freelance work and more.
Eligibility Requirements for Online Payday Loans
- You need to be at least 18 years old
- You need a minimum monthly income of $1000
- You need an active bank account that accepts direct deposits
- You need to be a permanent US resident or citizen
- You need to be able to pass an affordability assessment
- You need all supportive documents: A copy of your ID, proof of address, three months bank statements, pay slips, etc.
Pros of Best Online Payday Loans
- In some instances, you may receive your money within 60 minutes
- Quick and easy online application in under 5 minutes
- Interest rates start at 5.99%
Cons of Best Online Payday Loans
- Interest rates can reach as high as 35.99%
Click here to request funds with Viva Payday Loans >>
#2. Low Credit Finance: Best For 60-Minute Payout
Low Credit Finance is another loan matching site that provides borrowers with a vast range of alternative options for instant payday loans online guaranteed approval. However, as mentioned with Viva Payday Loans, a guaranteed approval is not possible. Borrowers must still undergo an affordability check (this is when the lender compares your income vs. expenses), and provide supporting documentation to the lender before loan applications can be considered and approved. Low Credit Finance offers a fully automated, 100% online application process, which takes only a few minutes of time to complete. You will need to enter details such as your full name, date of birth, monthly income, residential address, and contact details along with a list of your monthly expenses.
As far as loan finder sites go, Low Credit Finance has earned itself a wonderful reputation for ensuring speedy payouts of loans. Everything is “on the clock” from the moment you start your application. For most applicants, payout typically happens within 24 hours or by the next business day. However, for some applicants, payment may be received within an hour! If you’ve been hunting for small payday loans online no credit check in your area, it’s safe to say that your best bet of finding the most suitable alternative loan options is by turning to Low Credit Finance.
Loans on offer come from well-established, reputable lenders who aren’t out to take advantage of those in desperate situations but rather help people out of their troublesome financial situations by offering them affordable financial solutions. The lenders on the Low Credit Finance panel offer loans of up to $5000, a repayment period of 2 months to 2 years, and interest rates as low as 5.99% (note, that interest can climb as high as 35.99%).
The application process offered by Low Credit Finance is as simple as can be. To start the process, you simply click on “apply.” From there, you will be taken to a page where you can select the amount you wish to borrow and the repayment period you would like. Then all that’s left to do is fill out the application form by following the prompts, and submit it.
Once you have submitted the application form, Low Credit Finance will connect you to multiple lenders who may be able to offer you a loan. However, even if you have been offered payday loans no credit check, it doesn’t necessarily mean you have been approved for the loan, nor does it mean the lender won’t require you to consent to a credit check. It is American regulation that lenders carry out credit checks on applicants, even if the credit check will not be the determining factor when it comes to approving the loan. The loan offers presented are a form of pre-approval. It just means you have completed the first step of the application process.
The next step is verification. Before your loan can be approved and finalized, the lender may ask you to submit documents supporting the details on your application form. These documents include, but are not limited to: your ID, pay slips (your three latest copies), bank statements (the most recent three months), proof of address (usually a utility bill), and a list of your expenses each month (to determine if you can afford the monthly installments on your loan).
Eligibility Requirements Payday Loans Online Same Day
- Pass an affordability assessment (income vs. expenses)
- Applicants should be at least 18 years old
- A valid US residential address with proof (in the form of a utility bill etc.)
- Proof of consistent $1000+ income for at least 3 months
- A valid and active mobile number (so you can be contacted if necessary)
- Your own valid and active bank account (for payout and monthly debit)
Pros of Payday Loans Near Me
- Repayment terms are flexible
- Access to direct lender installment loans at no extra cost
- Payouts in as little as 1 hour
Cons of Payday Loans Near Me
- You may need to consent to a credit check
Click here to request funds with Low Credit Finance >>
#3. Green Dollar Loans: Best For Quick Payday Loans
For access to lenders providing 1-hour payday loans no credit check, Green Dollar Loans is the loan matching service making waves in the industry. With an outstanding reputation for matching borrowers to lenders in a relatively short amount of time, Green Dollar Loans is a stellar choice for anyone who is in a hurry to get cash. By only playing host to well-reputed, established lenders, Green Dollar Loans makes it possible for anyone to receive a deal that’s best for their current financial situation. For those hunting in vain for payday loans no credit check, Green Dollar Loans provides a plethora of alternative financial options in the form of secured loans, unsecured loans, payday loans, cash advances, and same-day loans.
While it’s ensured that Green Dollar Loans will not check your credit history, it doesn’t mean the lenders they match you with won’t check your credit. That said, just because you have low credit and a lender requires a credit check, it does not mean that you won’t qualify for a loan. Other factors are considered in the lender’s decision-making process, such as your income to debt ratio, monthly income, how much you wish to borrow, and, of course, how you are currently managing your finances.
When you apply through Green Dollar Loans, you can borrow between $500 and $10 000 and receive a repayment period of 2 to 36 months, as well as an interest rate of between 5.99% and 35.99%. This definitely broadens your horizon on how much you can borrow, but you should never borrow more than you need as this can result in finding yourself in a far worse financial situation. If your latest internet searches are different variations of payday loans near me, then Green Dollar Loans is a great place to start searching. The platform puts you in direct contact with lenders and brokers offering good finance deals without charging you for the service at all.
The application process via Green Dollar Loans is a quick and easy one. Once you have filled in the online form, you will be linked to many lenders who may have the payday loan you are looking for. The amounts and interest rates offered by the various lenders may differ, so be sure to pick the best available option.
Eligibility of Fast Payday Loans
- You need to earn a minimum of $250 each week
- You should be at least 18 years old
- You need a valid and active bank account with direct deposit
- You need to have a valid ID
- You need to be a US citizen or permanent resident
Pros Payday Loans Online Same Day
- You will be matched to lenders relatively quickly
- You only need to apply once to be matched with multiple lenders
- Loans of $500 to $10000
Cons Payday Loans Online Same Day
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Interest rates can be high in some cases (up to 35.99%)
Click here to request funds with Green Dollar Loans >>
#4. Big Buck Loans: Best For Quick Online Approval
If you’re looking for a loan matching site that can connect you to lenders offering payday loans online same day deposit, then Big Buck Loans is it. Big Buck Loans isn’t just a well-reputed loan matching site. It’s a platform that offers quicker payouts than many lenders you might consider approaching individually. When applying for online payday loans through Big Buck Loans, you will be met with a simple, quick-to-complete application form. This application form will take 2 to 5 minutes to complete as you only need to enter your basic details, including your name, date of birth, monthly income, and address. Be accurate when completing this form, as lenders may request supporting documents to assist with verifying your particulars. Incorrect information could lead to your loan application being denied.
Big Buck Loans doesn’t charge for their services, and by applying through them, you will be allowed to borrow between $100 and $5000 at a time, with a repayment period of 2 to 24 months. You are 100% in control regarding how much you borrow, and for how long, as the Big Buck Loans homepage has sliders you can use to determine this. This allows you to make the best possible financial decision for you, and ensure you won’t become over-indebted. The interest rate is determined by the lender and is based on many different factors. However, Big Buck Loans only hosts lenders with a maximum interest rate of 35.99%, so you can rest easy knowing you won’t be charged an arm and a leg just because you need a little financial help in a hurry.
Eligibility Criteria for Payday Loans Online Same Day Deposit
- Only individuals 18 years old+ can apply
- Must be a citizen or legal resident of the USA
- You need to earn $1000 or more each month
- A valid form of ID essential
- Active bank account in your name that supports direct deposit
Pros of Small Payday Loans
- Fast online approval (only 2 minutes)
- Quick online application
- Anyone can apply, whether they have good or bad credit scores.
Cons of Small Payday Loans
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You may be charged a high-than-average interest rate (up to 35.99%)
Click here to request funds with Big Buck Loans >>
#5. Credit Clock: Best For Same Day Loan
The final recommendation for a reputable loan matching service that can connect you to payday loans near me is Credit Clock. Credit clock isn’t a middleman, nor will you need to go through one on their site. But rather, they connect you directly to the lender. The application process offered by Credit Clock isn’t just quick and easy but also completely free to any and all applicants.
This hassle-free application process shouldn’t take you longer than a few minutes to complete, after which you will be connected with lenders most likely to assist you, saving you time and effort in the long run. To start, you will need to select how much you would like to borrow and for how long. While it may be tempting, we advise that you don’t borrow more than what you need for longer than you need it, as you may inadvertently place yourself in a cycle of debt.
Everyone seems to be on the lookout for instant payday loans online guaranteed approval, but keep in mind that lenders, brokers, and loan-matching services cannot guarantee that your loan will be accepted just because you applied for it. Receiving your personal data and verifying the information is imperative and every lender will do this. That said, quick payouts are possible – in fact, many borrowers using Credit Clock report getting their cash on the same day that their loan is approved.
Applicants will still need to provide their supporting documents for further checks and to secure the loan on offer. In addition, you must earn a minimum of $1000 per month in order to qualify for a loan. You can earn this income through any means, whether you work a 9 to 5, are self-employed, or receive government benefits. Your income just needs to be consistent.
Through Credit Clock, you can apply for fast payday loans of up to $5000, with a repayment period of 2 to 24 months and an interest rate of between 5.99% and 35.99%. Of course, how much interest you’ll be charged depends on many factors, such as your credit history, the amount you borrow, and how long your repayment period is. Lenders are competitive, though, so shop around and find the one offering you the lowest interest rate for the amount you wish to borrow.
Eligibility Payday Loans Online
- Valid US address with proof (utility bill etc.)
- Applicants must be 18+
- Regular income of $1,000 per month (for at least 3 months)
- Active bank account in your name
- Citizen or permanent resident of the USA
Pros of Online Payday Loans
- Relatively quick payout period (within one business day)
- Easy terms to adhere to
- Simple, straight-forward online application
Cons of Online Payday Loans
- You may be charged up to 35.99% interest on your loan.
Click here to request funds with Credit Clock >>
What Are Payday Loans Online & How Do They Work?
The way online payday loans work is simpler than you may think, and applying for one is a quick and easy process. Loan finder sites work by matching you with the lenders best suited to your needs. By simply filling out one online application form, your request can be considered by multiple lenders. Of course, the system is automated and this is why decisions can be made in a matter of minutes.
Online payday loans provide a lump sum to the borrower. This can be small or large, depending on the borrower’s needs and what the lender has to offer. The amount must then be paid back to the lender over a certain number of weeks or months with interest added. If the borrower slacks on payments, they may find themselves burdened with late payment penalties, so it’s best to keep your account well-managed. Most lenders will set up a direct debit to ensure that payments are automatically deducted from your bank account on the same day that your salary hits your account.
How To Apply For Payday Loans Online In Four Easy Steps
If you’re looking for small payday loans online no credit check, keep in mind that lenders are required to check credit scores according to US regulation. That said, you can still apply for payday loans online with a low FICO score and stand a good chance of getting the loan you need. Here’s how to do that in four easy steps:
Step 1: Select The Loan Amount And Term
The first step to applying for payday loans online is to use the sliders on the website home page to select the amount you would like to borrow (typically between $100 and $5000) and the repayment period you would like (anywhere from 2 to 24 months).
Step 2: Complete The Application Form Online
The next step you will need to take is completing the application form. This can be done entirely online and in the comfort of your own home. You will be asked to fill in the following details: your full name, date of birth, residential address, monthly income, monthly expenses, and contact details. Once you have completed the application form, you can submit it. Once you have submitted the form, your application will be sent to various lenders to be reviewed.
Step 3: Wait For A Decision
Once the lenders have reviewed your application, you will receive feedback in 2 minutes or less. If you have been pre-approved, you will be prompted to complete your application on the lenders’ website. You will be asked to provide supporting documents to confirm the details on your application form are correct. These documents include a copy of your ID, your latest three months’ bank statements, pay slips, proof of address, and a list of all your monthly expenses. If everything is in order, the lender will send you a contract you need to read, sign and submit to finalize your application.
Step 4: Get your loan
When you are certain you understand all the terms and conditions in the loan contract, you can sign it and send it back to the lender. Once it has been received, the lender will payout your loan. In some cases, you may receive your money within 60 minutes. However, most applicants receive their money within 24 hours or one business day.
Features & Factors To Consider
Several factors should be considered when applying for payday loans online:
Late Fees And Penalties
Before you complete the application process, you need to be aware of any late fees or penalties you may be charged. This will happen if you default on a payment (miss a payment) or make a payment later than the agreed-upon date. This could also have a negative impact on your credit score, so be sure to make all your payments on time and in full.
The Lender Makes The Final Decision
The loan matching service you use only presents you with the information and tools you need to apply for a loan. Whether you are approved for payday loans online same day or not is determined by the lender. The same can be said as to whether or not a credit check will be done. While it’s entirely possible that you may need to consent to a credit check, it may not be the only factor a lender will use to determine whether or not you are eligible for a loan.
How Did We Choose Payday Loans Online Providers?
Choosing payday loans online can be tough with so many providers out there. When we chose our top five, we looked for the following:
- Length of time it takes to payout the loan (within 24 hours or less is preferable)
- A simple, quick and easy application process that’s 100% online
- Provision of an outcome within minutes
- Interest rates that don’t breach 35.99%
- Reputable loan-matching services that offer transparency
- Easy-to-meet eligibility criteria
Conclusion
Applying for the best online payday loans has become more convenient than ever, thanks to fully-automated online applications made available through loan-matching services. Anyone searching for 1-hour payday loans no credit check will find that several loan-matching services offer more viable, safer loan alternatives to consider. While there are many payday loan providers within the US, it is vital that you select a lender than offers a loan specific to what you need and what you can afford. Viva Payday Loans offer the best overall payday loans online that you can choose from. Simply hop onto their site and check it out for yourself.
FAQ’s
How Long Do I Have To Pay Off Payday Loans Online?
During your application for payday loans online, you will be presented with the option to choose how long you will have to pay off your loan. You will be able to choose a repayment period of between 2 to 24 months, depending, of course, on how much you have borrowed and how much interest you are going to be charged. In some cases, you may be given the option to choose up to 36 months to pay. A longer repayment period will result in you paying smaller monthly or weekly installments, but it may also lead to you being charged a more interest. This is dependent on which lender you have borrowed through, so be sure to pick the option that is best suited to you and your needs.
Can Anyone Apply For Payday Loans Online?
Yes, anyone can apply for payday loans online. There are a few criteria you will need to meet: You will need to be a minimum of 18 years old, earn $1000 or more each month, have a valid ID and address, as well as an active mobile phone and bank account. You don’t need to work a regular 9 to 5 job to apply for payday loans online, either. You can be self-employed, receive benefits (such as unemployment benefits, disability, etc.), or receive spousal support or alimony. Your income just needs to be consistent from month to month, and you need to have received this income for a minimum of 3 months.
Are Payday Loans Online Good Or Bad For My Credit Score?
Payday loans online can have both a positive and negative effect on your credit score; it is entirely dependent on you. If you pay all the installments on time and in full, you will receive positive points on your credit score. However, if you default on an installment or pay it late, it may negatively impact your credit score. So be sure you understand all the terms and conditions of your loan before you proceed.
Disclaimer: The loan websites reviewed are loan-matching services, not direct lenders, therefore, do not have direct involvement in the acceptance of your loan request. Requesting a loan with the websites does not guarantee any acceptance of a loan. This article does not provide financial advice. Please seek help from a financial advisor if you need financial assistance. Loans available to U.S residents only.