How do I get an Instant Payday Loan?

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  • Written By: N. Madison
  • Edited By: Jenn Walker
  • Last Modified Date: 06 February 2020
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    Conjecture Corporation
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To obtain an instant payday loan, you typically have to find a payday lender that serves borrowers in your area; many are listed online. Once you’ve done so, you will usually have to complete a loan application by providing your name, address and phone number as well as a tax identification or driver’s license number. You will likely have to provide details about your place of employment, pay schedule, and earnings as well. In many cases, you will also have to provide bank account information to allow the payday lender to deposit the loan money in your bank account electronically and automatically withdraw the money you owe from your bank account on your next payday.

Before you apply for an instant payday loan, it is important to understand that most of them aren’t truly instant. In most cases, payday lenders use the word instant to indicate that a person can obtain loan funds quickly. For example, some instant payday lenders promise to provide loans within 24 hours of approval, but loan verification may take a day or two. If you apply for a subsequent loan, however, the lender may have a shorter verification process and approve your funds faster.


The first step in securing an instant payday loan is usually locating a lender that interests you. You may do this by searching online for instant payday lenders that provide loans in your area and comparing them based on the interest rates and fees they charge. You may also compare lenders based on the eligibility requirements they set. The payday lenders that require the least amount of verification may process loans the fastest.

Once you have found a lender you want to use for an instant payday loan, you will usually have to complete an application by providing your name, birth date, address, and contact information. The payday lender may also request details about your employer and identifying information, such as a tax identification or driver’s license number. The application will usually request details about your income and provide a place for you to indicate the amount of money you wish to borrow. It is important to keep in mind, however, that an instant payday loan lender will usually determine the amount of the loan for which you are qualified based on your income.

The instant payday loan lender you choose will likely request bank account and routing numbers to facilitate depositing your loan funds into your account. Some may also request a voided copy of a check for this purpose. Once your information is provided and your loan is approved, you will usually receive your loan funds via an electronic deposit.

It is important to note that most instant payday loan companies do not check credit histories. As such, securing a loan through such a company may be easier. In most cases, however, you will have to agree to allow the lender to automatically debit the money you owe from your bank account. Likewise, you will typically have to pay much higher fees than you would with a traditional lender. For these reasons, many financial experts do not recommend payday loans.



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