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Online Payday Loans: Top Online Payday Loan Services 2022

Online Payday Loans: Top Online Payday Loan Services 2022
Online Payday Loans: Top Online Payday Loan Services 2022 [ Photo ]
Published Feb. 4

Emergencies, accidents, and other unfortunate circumstances can happen at any time. You may need to borrow money as quickly as possible. However, this can be highly problematic and stressful if your savings are lacking.

So, what can you do? There are various short-term loan options available - such as payday loans.

Payday loans can provide short-term financial relief, even for borrowers with bad credit scores. You can typically sign a loan agreement after a short application process and receive funds within a few business days.

Payday loans can be used to cover unexpected bills, living expenses, and other unforeseen costs when your income doesn’t entirely cover everything.

Despite the convenience of emergency cash loans, it can be pretty challenging to find the best online payday loans. In this article, we compared and reviewed popular payday lenders.

Continue reading for 5 of the best payday loan options within the online lending marketplace.

Best Payday Loans Online

BadCreditLoans - Best payday loans for bad credit borrowers

Cash USA - Best for higher loan amounts

Personal Loans - Best for network of personal loan lenders

Money Mutual - Best for no-credit-check payday loans

Upstart - Best interest rates


BadCreditLoans provides financial help with payday loans, student loans, credit card loans, auto title loans, and other types of personal loan options. This site also offers various resources, including an educational blog that helps users with repayment tips, loan guides, budgeting, and more.

The company is not technically a lender but connects you with its extensive network of qualified loan lenders. As the name suggests, BadCreditLoans mainly helps people with bad credit scores across the three major credit bureaus.

The online application does not ask for your credit score whatsoever. Instead, you will need to provide other details - like your name and employment status. There is also a section where you can ask for a specific loan amount and explain why you need it.

After completing the form, you will be connected to the platform’s network of lenders. Some may present you with loan offers right away, though you are not obligated to accept them unless you want to.

Repayment periods on BadCreditLoans can vary anywhere from 3-36 months. However, the longer loan term incurs higher interest rates.

Loan amounts range from $500-$10,000, and fixed APRs are between 5.99 to 35.99%


● Quick transfer of funds after loan approval

● Data-encrypted site with secure customer privacy measures

● Helpful resources for online loans


● Some borrowers may have trouble meeting the eligibility requirements.


CashUSA is one of the most trusted lending platforms and offers access to a wide selection of online loans and financial assistance options. For instance, this platform can help with instant loans, installment loans, payday loans, cash loans, and more.

It’s important to remember that CashUSA is not the loan provider. However, they can connect you to a comprehensive network of lenders and help you process a loan request.

CashUSA continuously optimizes its system and finds new ways to simplify the process for users. As a result, the website is highly user-friendly and easy to navigate.

To apply for a payday loan online with CashUSA, fill out the application located on the homepage. It will ask you to provide your name, age, social security number, zip code, employment status, phone number, and email address. After completing the form, CashUSA will evaluate your application and send it to a private network within minutes.

This lending platform offers clients higher loan amount choices, ranging from $500 to $10,000. You should expect an annual interest rate of 5.99-35.99% for payday loans and other installment loans. Furthermore, the time frame for your loan payments will vary between 90 days to 72 months.


● No application fee

● No credit check

● Easy platform to borrow money


● The minimum loan amount is at least $500


PersonalLoans has various online installment loans - including bad credit loans, payday loans, and other personal loans. Furthermore, the site can also help with home expenses, medical bills, and debt consolidation.

The platform’s instant payday loan is outstanding for borrowers who need money ASAP. In most cases, a loan offer is given within 24 hours, and the funds will hit your bank account shortly after that.

PersonalLoans has a user-friendly website and a simple application process. You will start by filling it out with basic information about your name, address, birth date, and military service status. You will also need to enter your driver’s license number, bank account details, and SSN.

The platform offers payday loan limits ranging from $1,000 to $35,000. Most payday loans will have APRs ranging from 5.99% to 35.99%. Your repayment term will largely depend on the loan amount.


● A quick and easy application process to get a loan

● An extensive network of lenders

● Fast funding

● No credit score check needed


● Not a direct lending company


MoneyMutual is one of the top-ranked payday loan providers online today. Since 2010, they have helped millions of people obtain bad credit loans, payday loans, installment loans, and more.

This website offers quick, simple, and secure access to an extensive network of lenders. They will help you get emergency cash into your bank account in as little as 24 hours.

For loan approval, MoneyMutual requires that you are 18 or older, have a checking account, and show stable income proof. Specific eligibility terms will vary based on the lender you go with.

Loan amounts range from $200 to $5,000. The maximum amount offered will largely depend on your qualifications - such as income, outstanding debt, etc. The repayment period typically lasts for 60 months or so. You should expect to pay back the owed debt within that time frame.

To apply, you will start by filling out a simple online form. This application will ask for various personal details and use that information to connect you with the best lender for your situation.


● Trusted by millions of customers

● User-friendly website

● Loan approval in as little as 24 hours

● All user data is heavily protected


● Limited service to the U.S. only


Upstart is an excellent option for borrowers with a limited credit history who need assistance with their financial future. There is no minimum credit score required when applying.

Additionally, the interest rates on Upstart are significantly lower than the interest rates offered at some other lending institutions. The estimated APR ranges from 3.52-35.99%.

The site offers loan amounts between $1,000-$50,000. However, Not all applicants will qualify for the total amount of $50,000 as this will be determined based on your income and other information provided in the loan application.

To apply, you need to have a minimum gross income of $12,000 and a regular source of income. You must be at least 18 years old and have a U.S. residential street address (this does not apply to military personnel on active duty).


● Several bad credit loan options

● Able to fund loans within one business day.

● Accepts borrowers with a limited credit history

● Some debt consolidation loans

● Borrowers can choose the payment date

● Lower payday loan rates


● Only two repayment term options

● Charges origination fee

Basic Requirements for Getting a Payday Loan

Payday loans are generally regulated at the state level, meaning lenders must follow guidelines set out by the states they serve.

As a result, some online payday loan requirements vary. However, there are a few essential qualifications that nearly every lender and state will require.

● The borrower must be 18 or older to bind a payday loan agreement legally.

● You must have an active checking account. Most online lenders do not provide the option to receive funds via cash or check. They will distribute funds via direct deposit and may require the loan repayments to be automatically withdrawn from the same account.

● While income requirements vary by location, lenders always want to see proof of income. This ensures that you can repay the loan and fulfill the debt.

● Your lender will want to know how to contact you. When completing the application process, most will ask you to provide your home address, phone number, and email address.

Payday loan alternatives

If a payday loan is not the right fit, a few alternatives to consider.

Paycheck/payday advance

Ask your employer for an advance on your next paycheck. This route will get you cash right away without needing to take out a payday loan.

Credit card

You could open a credit card account with 0% interest for a limited time, which is an excellent way to cover immediate expenses without incurring interest for a few months. However, this will likely put an inquiry on your credit report and may negatively impact your credit score.

Ask to borrow from family or friends

If you have a close family member or friend willing to lend you the money, you could try asking them. Peer-to-peer lending is a great way to take the middleman out and save on interest.

FAQs - Online payday loans

What is a payday loan?

Payday loans are short-term, high-interest loans typically repaid within a few weeks. They are generally available in small amounts of money (less than what you would get from traditional bank loans or credit union loans).

An online payday loan lender makes it easy to get approved and receive your funds. However, lenders typically charge higher interest rates and have stricter terms and conditions for extra convenience and lower credit standards. Payday loans are also referred to as installment loans, no credit check loans, or fast cash loans.

Interest rates will depend mainly on the payday lender and your details. However, most lenders offer higher interest rates on payday loans than traditional loans. They could range anywhere from 100% to 300%.

Borrowers find payday loans attractive because of the convenience and fast funding. If there is an emergency - such as unexpected medical bills or other unforeseen expenses - an online personal loan like payday loans can get the money in your checking account ASAP.

For people with poor credit scores, it’s important to note that many payday lenders will not check your credit score or credit history.

How do payday loans work?

These loans are structured for borrowers who need quick cash to hold them over until their next “payday.” The repayment terms will vary according to the lender, but most payday lenders expect the entire balance to be repaid (plus interest) within 2 to 4 weeks. For more significant amounts, you may be able to make automatic payments every two weeks until the loan balance is fulfilled.

Online payday loans are considered unsecured loans, meaning that you do not have to provide collateral to back the loan like you would for a secured personal loan.

You will need to provide a proper form of identification and your contact information to apply. You will also need to give your bank account information to receive the loan money. The lender will then verify your source of income and account details.

Do online lenders charge a fee for payday loans?

A few standard fees are applied to the top of the principal loan amount when getting a payday loan online. You should expect to pay a small application fee, especially if a background check is required. Most lenders will also charge origination fees to cover administration services when handling and processing the payday loan.

Many online lending marketplaces will add other fees to the loan’s terms and conditions. For example, if you miss a loan payment, you may be handed a late fee. Furthermore, some online personal loans charge prepayment fees if you decide to pay off the loan amount early.

All of these fees are added to the overall cost. When borrowing money, plan to repay it and stick to the repayment conditions as closely as possible.


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