When you have no other options left, and there is a financial emergency at hand, you should always consider getting an online payday loan. Whether you need to tend to medical bills, buy new car parts, or need the cash for a holiday, payday loans have you covered.
A payday loan is a small short-term loan, which is usually processed within a day https://www.installmentloansgroup.com/installment-loans-ut/ or two. The amount is typically up to $500 but has high-interest rates as it usually needs to be repaid very soon after.
In this article, we have listed the most reliable payday loan platforms and chalked out all the factors that need to be considered by you!
How We Made the List
Trying to get an online payday loan can be tricky, especially if you have a bad credit score; however, there are multiple options available online that give you access to payday loans. The problem most newbies face when looking for a loan is getting scammed by fraudulent lenders.
If you are new to the process of getting an online loan, it may seem difficult and too complicated, but if you make smart and informed decisions, you could end up finding a great deal on your loan.
We have compiled this list of some top payday loan platforms that offer quick cash transfer, low APRs, and hassle-free user policies so that you can choose from the best for your loan needs. Read on to know more about the top four payday loan companies.
What We Looked For:
We considered many different factors when reviewing each company in order to determine the best online payday lender. We first looked for short transfer times so that you can be sure to get the funds you need in the least amount of time possible. We also looked at each company’s security and privacy policies to make sure we recommended companies who take your personal information in confidence.
It was important to us to make sure you only repay what you need to instead of exorbitant fees or additional charges. The platforms on this list do not charge any fees, so the money you repay will go directly to reducing your balance and paying interest. Because annual percentage rates can also become costly over time, we looked for platforms whose partnered lenders typically use the lowest APRs.
Finally, we know that payday loans are usually needed by those who do not have good credit or access to personal lines of credit; therefore, all the platforms on this list do not evaluate credit scores when connecting you with a potential lender. Any credit check will be performed by the lender at a later stage in the loan approval process.
Best Online Payday Loans
- MoneyMutual – Instant Online Payday Loans with Guaranteed Approval
- BadCreditLoans – Best Direct Lender Payday Loan
- CashUSA – Best Payday Loans Application Process
#1. MoneyMutual – Instant Online Payday Loans with Guaranteed Approval
MoneyMutual is on top of our list because it is known as the top-ranked online lending company for many different reasons. First off, it has helped thousands of consumers receive a loan fast, sometimes in less than 24 hours.
The fact of the matter is that, according to the Federal Reserve’s Economic Well-Being report, 40% of Americans cannot come up with $400 in cash in an emergency.
MoneyMutual specializes in helping people get the money they need in case of an emergency by linking them up with short-term lenders who give loans of up to $5,000. Their quick and simple online application forms take around five minutes to complete, and many online lenders may be able to approve your loan request within minutes.
