National Payday Review | Compare Loan Options | Credit Raters us-lenders
Last updated: 28th Feb 2020

National Payday Review

With almost 20 years of reputation, National Payday is a great place to find solutions to all your emergency financial challenges. National Payday understands that time is of the essence and once you apply for a payday loan with them, you receive the funds on the same day. 

National Payday is an electronic paycheck lending company based in San Jose, Costa Rica. The company aims at providing you with affordable and on-time payday loans to cope with your financial crisis.

Besides having easy and straightforward applications process, National Payday loans charge reasonably well-structured repayment terms. 

To find out more about National Payday loans, make sure you read this comprehensive guide to the end. 

How much does National Payday Loans Cost? 

I can’t emphasize enough why it’s a good idea to understand all the terms and conditions of a loan agreement before signing the contract. While you may be excited to receive financial aid when you are low, remember you’ll have to pay back with interest when you receive your next paycheck. 

For instance, let’s say you take a $400 loan, you can expect to pay $500 in your next paycheck. 

While 1st-time applicants won’t be charged any loan fee, you can only access a maximum loan amount of up to$1000. However, you have to make sure that the loan is repaid on time. 

For other borrowers, National Payday charges a finance or loan fee of 25% of the principal loan amount. This means that if you take out a loan of $200, you will be charged a finance fee of $50 and $75 for a $300 loan. In such cases, your repayment amounts will be $250 and $375, respectively. 

The Annual Percentage Rates of larger loans may vary depending on factors such as the loan amount, repayment period, and credit score among other factors. With National Payday loans, you can expect an APR of between 506.94% to 1303.57%. 

Undoubtedly, the rates are expensive and that why you should only take these types of loans to fix an emergency financial situation. Otherwise, if you aren’t careful, they can hurt your financial goals. 

Key features of National Payday loans 

The main advantage of using National Payday services is that they will fix your financial problems on the same day. National Payday uses a specialized pre-qualification system to approve your loans within minutes. 

 However, make sure to submit your application early in the morning. You will only receive the same day funding if your loan is approved by 11:50 am EST. National Payday offers ACH direct deposits for all their loans. 

As a first time applicant, you are exempted from paying the finance fee of 25% on payday loans. As well, with National Payday, there are no hidden fees. The amount specified on the agreement contract is the only amount that you are required to repay. 

Also, you can rest assured that the information you provide when applying for a loan with National Payday is secure. National Payday uses the latest security measures such as the end-to-end encryption and HTTPS to protect your data from internet risks such as cybercrime. 

Here are some of the advantages and disadvantages of taking a loan with National Payday. 


  • No papers 
  • Easy and quick online application 
  • Fast approval and funding 
  • Accepts all credit score 


  • High APRs
  • Late and Non-Payments fees 


How much loan can I qualify for? 

If you are applying for a loan with National Payday for the first time, you can only receive loan amounts of up to $1,000. However, National Payday offers loans up to $1500. You will be able to access this limit after regular and on-time loan repayments. 

How much does National Payday Cost? 

National Payday charges a finance fee of 25% of the loan amount for all cash advance loans. However, first-time applicants are exempted from this fee as long as they repay their loans on time. 

How long will it take to receive the funds?

After a successful loan application and approval, you can expect to receive the funds within 24 business hours. Other factors will depend on other factors, such as bank policies. 

Eligibility Criteria

The first requirement, as with most lenders, mainly traditional lenders, is collateral. With National Payday, you don’t need to provide any collateral. Other mandatory requirements include;

  • Be at least 18 years old 
  • Be a U.S citizen 
  • Have a minimum income of $1,000
  • Have an active bank account – must be 3+months old with no overdraft reports. 
  • Unlike other lenders, National Payday makes it easy as possible for everyone to access their services. 

State Availability

Due to certain state regulations, National Payday doesn’t offer its services to parties of all states. To find out if your state is eligible, you can contact the customer support. 

Customer support

The National Payday customer support team is amicable and attentive. Additionally, they will respond to all your questions promptly. For any inquiries, you can contact them at 1-866-513-0374 for repeat visitors and 1-877-778-8006 for new applicants. 

Application process

National Payday makes sure that you spend as little time as possible when applying for a loan on their website. As well, your loan is reviewed almost instantly, and if qualified, you may access your funds on the same day. 

When applying, you may be requested to provide the following details;

  • Full names 
  • Date of birth 
  • Residential address 
  • Social Security Number 
  • Email address 
  • Active Phone Number 
  • Employment information 
  • Bank account 
  • Driver’s License

As well, National Payday may require you to provide some documentation such as income, financial, and residence proof. However, you don’t have to worry as you can provide all those right in the comfort of your home. Just scan the documents and send them. 


As you have evidenced from our review above, National Payday is a reliable institution that offers a quick fix on all your financial challenges. 

Their expertise and experience providing financial assistance since 2000 also makes them worthy to rely on. Whatever financial situation you in, National Payday has seen it all and they are more than ready and willing to help get through it victorious.