Waking up in the morning to a car that won’t start, a burst water pipe flooding your kitchen or unexpected bills on your doorstep is a bad start to the day at the best of times. Trying to overcome these issues without the necessary cash to hand only adds to the stress.
Fortunately, same day loans are available to help you overcome these unavoidable day to day emergencies. Simply choose how much you’d like to borrow and the term over which you’d like to repay your outstanding balance, and Credit Raters will compare loans paid today in seconds.
Same Day Loans For Any Situation
There are literally thousands of reasons why you might suddenly need access to cash and the good news is that same day loans can be used for any personal costs. The most common reasons that our customers tend to need loans paid same day include:
- Emergency home repairs
- Urgent medical bills
- Unexpected car repairs
- Food shopping
- Debt consolidation
- Living expenses
Remember – you should only use same day loans for emergency expenses rather than long term borrowing or for luxury purchases.
What Same Day Loans Are Available?
More and more lenders are now introducing same day payments as they realise the importance of deposit speed to borrowers. There’s nothing worse than having a problem that can’t be tackled until funds to arrive.
Here’s a look at the most common same day loans that our customers apply for.
| Same Day Loans Type|| Typical Deposit Speed|| Typical Loan Duration|
| Payday Loans || Up to 24 hours|| 1 month |
| Instalment Loans|| Up to 24 hours|| 3-6 months|
| Personal Loans|| 24 – 48 hours|| 3-24 months|
Payday Loans – Same Day Transfer
Payday loans are renowned for delivering cash to your checking account in record time, transferring emergency funds to your bank account on the very same day that you’re accepted.
Choose from loans starting at just $100 up to $1,000 (see state availability below) and select your next pay date on which you’ll be able to repay your loan. These loans are typically paid back in full on your next pay date, however some lenders will allow to extend this to two or three months
The interest rates on payday loans can appear high and some lenders may charge a small fee for a same day deposit, however the short term nature of these payday loans actually makes the total amount repaid comparable with lower interest rate instalment loans.
Instalment Loans – Same Day Transfer
There’s a common misconception that because instalment loans are repaid over a longer period that they can’t be issued as quickly as payday loans. Instead, they’re assessed and issued in almost exactly the same way with same day loans now widely available in the instalment loans market.
If you’d rather spread the costs of your repayments over several months rather than simply clearing the balance on your payday then instalments loans offer a competitively priced credit alternative.
Personal Loans – Same Day Transfer
Personal loans were traditionally available for larger amounts of longer terms, however you can now get these loans paid today if you choose the right lender that can offer instant acceptance based on your loan requirements.
Choose from extended loan periods of up to 24 month depending on your monthly repayment budget and a provider than can offer same day loans to help you overcome your financial shortfall.
No matter what short term loan you feel is best for your circumstances, each one takes minutes to apply for online with same day loans deposited into your account within just a few hours. Most lenders now allow you to track your loans online after creating an account, giving you easy access to repayment dates, payment methods and your outstanding balance.
When it comes to choosing the right loan for your circumstances, cost is king which is why it’s important to compare the interest rates, overall costs and affordability of each option before applying.
Here’s an example of how the costs of different same day loans compare, although the final rates will depend on the terms of your loan and your credit history.
| Same Day Loans Type|| Borrowing Amount|| Example Interest Rate|| Length Of Loan|| Monthly Repayments|| Total |
| Payday Loans|| $500|| 292%|| 1 month|| $620.00|| $620.00|
| Instalment Loans|| $500|| 140%|| 3 months|| $206.98|| $620.94|
| Personal Loans|| $500|| 49.9%|| 6 months|| $95.87|| $575.22|
| Auto Loans|| $500|| 69%|| 18 months|| $45.32|| $815.67|
Am I Eligible For Same Day Loans?
Whilst all same day loans lenders will use their own in-house criteria for assessing applications, at the very minimum you’ll need to be:
- At least 18 years of age
- In permanent employment
- Legal residents of the USA
- A checking account holder
By offering loans paid same day, lenders will want to quickly gather as much information as they can to make to make a fair and positive decision.
To help build up a picture of your circumstances and determine your eligibility, they may use information from your credit history to assess your ability to manage certain types of credit. You may also need to provide your social security details and/or documentation confirming your state of residence.
Ultimately, your eligibility will be determined by your ability to repay what you borrow. As long as you can comfortably afford your repayments, we’re confident you’ll find a lender that meets your individual circumstances.
Apply For Loans Paid Today
Credit Raters does the legwork on your behalf to help you find the most competitive and suitable same day loans in minutes.
Get a personalised comparison by telling us a little bit more about you and the loan you’re looking for. We’ll search hundreds of lenders from our panel and present you with a range of option to choose from based on your circumstances.
To compare your quotes for a same day loan we’ll need to know:
- Your name, date of birth and address
- How much you’d like to borrow
- The term you’d like to borrow the money over
You’ll instantly be able to compare loan terms, interest rates, alternative credit limits, fees and more before applying online.
Application Process For Same Day Loans
Once you’ve chosen the lender you wish to use, you’ll need to complete the final steps of their application. You’ll need to let them know about your employment status as well as some more information about your earnings and suggested repayments.
After looking at the affordability of your loan, the lender will usually perform a credit search to assess how you’ve managed credit in the past.
You’ll get an instant online decision and, if accepted before your lender’s daily deposit time, can have funds transferred directly into your account on the very same day.
At A Glance – The Benefits Of Loans Paid Today
Quick Online Application – Complete a short online application in just two minutes to get a decision on your same day loan.
High Acceptance Rates – Many of the loan types that offer same day loan transfers include payday loans instalment loans which both offer high rates of acceptance for applicants.
Rapid Cash Deposits – Potentially receive your funds within just minutes of being accepted ready to tackle whatever emergency you’re facing.
Multi-Purpose Loans – Payday loans same day transfers can be used for any personal spending purpose, so whether you need to consolidate other debts or make immediate repairs to your home, same day loans can help.
For a free, no obligation quotation on your next same day loans, get a personalised quotation from Credit Raters today.