Fast Online Payday Loan Tips

If you ever get stuck in an emergency where you need money and fast than you could consider getting a payday loan online. Maybe you had a fender bender or an unexpected bill crop up and put you in a difficult situation. Getting a fast payday loan online has made it really simple and easy to remedy these situations.

Easy Online Form    

Most payday loan websites have a simple form that is easy to complete. They will usually ask for your name, address, phone #, SSN and banking info. This makes the first part of getting your online payday loan fast and easy.

No Credit Checks or Faxing

A lot of lenders won't even require a credit check. All that is required is that you have an income. Some lenders don't require you fax them anything. There has been a push for online payday loans to become paperless. This helps reduce the hassle, and time and effort in getting that emergency cash.

Lenders Compete to Loan You Money

There are a lot of payday loan websites online that will send your application to various lenders. You fill out one easy form and that application is sent to different lenders competing to out do each other. This will offer you a lot of flexibility in deciding who is right for you. You can compare interest rates, payment deadline, amount you are qualified to borrow.

Interest rates will vary but the average is between 25% - 30%. Sometimes however lenders will have reduced rates or promotions for new or returning customers and offer them lower interest rates.

Approval for online payday loans is fast, some places can have the funds in your account in under an hour. Most loans range from $100 - $1500.

Getting an online payday loan maybe fast and convenient but it's not something that should be done on an ongoing basis. It should just be used in an emergency as interest rates are quite high so it's costly to borrow in this fashion.