If it feels like your next payday can’t arrive soon enough, you’re in a prime position for payday loans to save the day. Of course, you could frantically search for “payday loans near me” and try to decide between the overwhelming and complicated options. You could even beg family members for financial aid or start selling your valuable household goods to make some extra cash. While these may be viable for some, none of these avenues will be as effective as filling out just one application form on Big Buck Loans, waiting 2 minutes for feedback, and getting the cash paid into your bank account today.
If you want to learn everything there is to know about payday loans online; you’re at just the right place. Below you will find the ins and outs of online payday loans and how you can go about applying for one yourself!
What Are Payday Loans?
Generally speaking, payday loans are small lump sums granted to borrowers that must be paid back on their next payday. But, of course, payday loans can also run a little longer. If you request a higher amount, it can be paid off monthly on your selected paydays instead of just one chunk on your next payday. Payday loans online are intended to be quick and convenient for the borrower to receive and pay back. As such, they come with minimal red tape, are generally available in small amounts (up to $2000), and are expensive (high interest).
You wouldn’t apply for a payday loan if you want to buy a house or pay for a wedding, but they’re excellent for bridging the gap to help you get from one payday to the next or cover an unexpected or emergency cost.
How Do Payday Loans Work?
When applying for payday loans online, it’s important to use a lender with viable loan products and a reputation for responsible lending. And that’s what you get at Big Buck Loans. The interest of up to 35.99% is added to payday loans, and then you will need to pay a portion of the principal debt plus interest each month as an installment.
Payday loans online follow a simple loan model. First, the borrower selects how much they wish to borrow and for how long and then completes a quick online application. The process takes only a few minutes. If the application is successful, the lender will discuss the ins and outs of the loan contract with the borrower and then ensure that they sign a loan contract. This contract is legal and binding, so make sure that you read through it before signing it.
Once set in place, the total loan amount plus interest is divided by the loan term to form monthly installment amounts. The monthly installments are typically paid to the lender utilizing direct debit over 3 to 24 months. Therefore, it’s important to keep up with the payments to ensure that you aren’t faced with late or missed payment penalties.
Key Features Of Fast Payday Loans
If you’re considering applying for fast payday loans online, there are a few features to be aware of. These are listed below:
Application Process for Same Day Payday Loans
The application process involved when applying for payday loans online same day deposit is quite important. If you are faced with a tedious process that takes hours, chances are you’d give up. However, the application process is quick and easy when using Big Buck Loans as your loan-finder. In fact, you can handle the process entirely online, and you can expect to receive the funds within 1 hour of your loan being approved.
Interest, Fees and Charges on Payday Loans Near Me
The cost of the loan comes down to the interest charged and any fees gathered along the way. For instance, the online payday loans available through Big Buck Loans come with an interest of between 5.99% and 35.99%. Regarding fees, you can expect to pay penalties if you miss payments or pay late on your installments without giving the lender a heads-up so that alternative arrangements for payment collection can be made. And because lenders make their income through interest, you will also face penalty charges if you settle the entire loan earlier than anticipated.
Fast Payday Loans Lender Reputation
The last thing you want when you’re hunting for quick payday loans is to become the victim of a scam. Opportunistic criminals or predatory lenders may misconstrue the loan process, take you for a ride, or treat you unfairly during your contract. This isn’t the case when using Big Buck Loans as your loan-finder service. Big Buck Loans has a panel of lenders populated with only reputable lenders with a responsible lending approach and a good reputation in the industry.
Advantages And Disadvantages Of Payday Loans
Finding a loan isn’t something you should rush, but if you know what you are looking for and what you can afford, you can apply for just the right instant payday loans for you. Even the best payday loans for you come with advantages and disadvantages, which we discuss below.
Advantages of Fast Payday Loans Online
Uncomplicated Application Process for Instant Payday Loans
Some lenders have a complicated application process. Just think of the traditional bank loan that requires spans of paperwork and loads of calls, emails, and queries that border on interrogation. When you use Big Buck Loans, the quick payday loans application process couldn’t be simpler. It requires borrowers to complete an online application form and provide digital copies of supporting documents on request. There’s no calling, no faxing and no actual paperwork involved. And best of all, the entire process is finalized online, so there’s no reason to leave your house or even meet anyone face-to-face.
Fast Payouts on Online Payday Loans
If you don’t have time to waste and need cash right now, you’re probably already frustrated with the process of trying to find a loan. Looking for the best payday loans and not knowing which one is best can feel overwhelming. Big Buck Loans offers quick payday loans that can almost be described as instant payday loans online. Feedback on applications is provided in two minutes, and in most instances, approved loan applications are paid out within 15 to 60 minutes. In some cases, there may be a hold-up. This could be because of a late-night application, a weekend application, or because you don’t have all your supporting documents handy when required. But, in most instances, delays aren’t longer than 24 hours.
Easy Payday Loans Amounts & Terms
Every lender is different and as such, there needs to be several different loan amounts and terms available. For instance, you might have good credit and an excellent salary and will therefore have access to higher loan amounts and longer terms. On the other hand, someone with a very limited income and a less-than-perfect credit score will have access to lower amounts and shorter periods. When applying for payday loans online same day via Big Buck Loans, you can expect to choose from loans between $100 and $5000 with 3 to 24 months to pay, depending on the size of your loan.
Quick Payday Loans for Low Credit & Unemployed
Not many providers of fast payday loans online give much time of day to borrowers with bad credit histories or who are not traditionally employed, but that’s not the case when it comes to Big Buck Loans. This team is dedicated to ensuring that borrowers are assisted, regardless of their financial past. While instant payday loans online guaranteed approval isn’t possible because lenders cannot guarantee anything until the loan application has been reviewed, lenders on the Big Buck Loans panel offer fantastic instant payday loans for bad credit borrowers and borrowers who aren’t formally employed.
This means that if you have a less-than-impressive credit score, you still stand a chance of getting approved for payday loans near me. If you’re not formally employed, you’re considered unemployed. You don’t have a boss, and you don’t have payslips, but if you have an income of $1000 or more per month, you can apply for a loan. You will need to prove your income streams, so be ready with your bank statements, certificate of earnings, tax returns, and similar.
The best online payday loans at Big Buck Loans for low-credit borrowers and unemployed individuals are undoubtedly the secured loans that require collateral to secure (and are more likely to be approved) and unsecured loans, which means the lender takes on the risk. Loans range from $100 to $5000 with 3 to 24 months to pay. There’s also interest charged on all types of loans at Big Buck Loans, which is unfortunately quite high, at 5.99% to 35.99%. Borrowers can apply for online payday loans for bad credit and unemployed individuals by filling out the quick and easy online application form.
Disadvantages of Easy Payday Loans
Unfortunately, fast payday loans aren’t cheap. The convenience and minimal red tape can rack up quite a bill – some say that borrowers are paying for the ease of approval when paying high fees for their payday loan. Interest rates can range from 5.99% to 35.99%. This is high interest but isn’t too excessive if you have no other financing options and need cash now.
Am I Eligible For Payday Loans Online Same Day Deposit
If you’re hunting for payday loans online, you’re undoubtedly concerned about your eligibility. First-time borrowers are plagued with thoughts of “Do I qualify?” when applying for loans online. And the good news is that Big Buck Loans makes it easy for borrowers to get the cash they need by ensuring the eligibility requirements are reasonable. If you meet the following criteria, you’re eligible to apply for fast payday loans with Big Buck Loans.
- 18 years of age minimum
- Must be a legal US citizen or resident with your own US bank account
- Minimum earning of $1000 per month with documentation as proof
- Pass an affordability assessment that looks at income-to-debt ratio
- Supporting documentation: proof of address, proof of income (bank statements and payslips), a valid form of ID
How To Apply For Instant Payday Loans Online
Applying for instant online payday loans is a lot easier than most people think. Especially when using Big Buck Loans. If you want to apply for instant payday loans online, follow these four simple steps:
Step 1: Gather the Supporting Documents Required Payday Loans App
While there is no paperwork involved in the Big Buck Loans application process, you will need to provide the lender with digital copies of your documents. Have these on hand: proof of address, a valid form of ID, last three pay slips, and last three bank statements. If you have to scrounge around for them when you start your application, it could just end up delaying the approval and payout.
Step 2: Select Your Loan Amount, Term & Fill in the Online Form
What’s great about Big Buck Loans, is that their loan terms are flexible enough to cater to all borrower’s financial needs. For those who just need a bit of bridging cash, the payday loans online same day deposit start from as low as $100 and go as high as $5000 for those who need more. The terms range from 3 to 24 months. Once you’ve selected how much you need and for how long, complete the online application form and submit it. Accuracy is key when completing the application.
Step 3: Wait Two Minutes for an Outcome on Your Payday Loans Application
Once you submit the completed application form, you will only wait around two minutes to receive feedback. If a lender can assist you, you will be advised and transferred to them to complete the application. If you can’t be assisted, you will also be immediately advised so that you can make an alternative arrangement.
Step 4: Finalize the Payday Loans Contract and Get Your Payout
Once the loan terms have been discussed with the lender and you have received the loan contract, you must spend some time reviewing the information it contains. Remember to ask questions if you are unsure of anything and only sign the agreement when you’re comfortable with it. On returning the signed agreement, the lender will release the funds. Funds are usually paid out within 15 to 60 minutes of the loan being approved. But keep in mind that Big Buck Loans cannot guarantee that, as it is up to the lender to process loan contracts and pay them out.
Alternatives To Payday Loans Online With Big Buck Loans
If for some reason, you’d still like to look around and see what’s out there, you will find some great alternatives to payday loans online at Big Buck Loans. We highly recommend that you consider the following alternatives to our same day payday loans:
Instant Online Payday Loans with Vivapaydayloans.com
To say that Viva Payday Loans’ online payday loans are instant isn’t entirely true, as the lenders on their panel still need to verify the information before granting loans. They are almost instant, with loans being processed, verified, and paid out within hours. Their best payday loans range from $1000 to $2000, with 3 to 24 months to pay. That said, the lenders on their panel offer loans up to $5000 if you wish to apply for more. The interest is similar to Big Buck Loans, starting at 5.99% and going up to 35.99%. Applying for easy payday loans via Viva Payday Loans is as simple as visiting the website, filling in the online application, and simply following the prompts to see if you’re approved or not.
The great thing about payday loans via Viva Payday Loans is that they pay out very quickly. The Viva Payday Loans panel of lenders won’t keep borrowers waiting around. Once the loan is confirmed and authorized, the cash is immediately paid out; you can expect it to make it to your bank account within one hour. Of course, Big Buck Loans cannot guarantee that payments from Viva Payday Loans will take one hour. In some cases, there are delays but not usually more than 24 hours.
Personal Loans with Vivapaydayloans.com
Another great alternative to payday loans online same day at Big Buck Loans is the personal loans available at Viva Payday Loans. You can borrow up to $5000 when applying for a personal loan with Viva Payday Loans. Because many of the lenders on their panel want to be competitive, the max interest is set at 35.99%, but many offer reduced interest. When applying for online payday loans or personal loans with Viva Payday Loans, you can choose loan terms of 3 to 24 months. One of the greatest perks of loans via Viva Payday Loans is that they accept borrowers who aren’t traditionally employed (this means that they earn the minimum income requirement but don’t have a boss or pay slips to offer).
At Viva Payday Loans, you need to earn at least $1000 per month to be eligible to apply for a loan. The online application form is astoundingly simple to complete, and it shouldn’t take more than just a few moments of your time. With such quick and easy payday loans available online through Big Buck Loans and Viva Payday Loans, you may never have to approach your local bank for a loan again!
Is a Payday Loan Secured or Unsecured?
Online payday loans can be either secured or unsecured. Secured quick payday loans require collateral to secure. Borrowers can use a valuable asset as collateral or find someone financially stable to co-sign the loan with them when applying for secured payday loans online the same day. On the flip side, unsecured same day payday loans require no collateral or co-signatory. You can still get this payday loan but the interest tends to be higher because the lender takes on the risk.
What are the Best Online Payday Loans?
The best payday loans online are the loans that cater specifically to your needs. Some might even say that the best online payday loans are those that are easy to apply for, quick to provide feedback and even quicker to payout the loan amount when it’s approved. As far as best payday loans go, the payday loans online at Big Buck Loans are genuinely impressive.
How Do Payday Loans Work?
Understanding how payday loans online same day work is all about finding a loan-finder who can match you with a lender that follows best practices. While we cannot speak for other lenders and their processes, the lenders on the Big Buck Loans panel follow a particular loan format when it comes to payday loans online same day. Payday loans online same day deposit via Big Buck Loans work on a simple loan model. The borrower applies for a loan via the platform and if a lender can assist, it can be set in place. The lender and borrower are in direct contact to discuss the terms of the loan.
As a borrower, you can select a loan amount between $100 and $5000. If you are already a bad credit borrower, you might want to aim for a small loan amount so that you can start building trust with the lender. The loan terms must also be selected, and these range from 3 to 24 months. Once the loan amount and term are decided on, the lender will provide information on what the loan will cost in terms of interest. Interest is what makes online payday loans costly. Interest can be charged from 5.99% to 35.99%. The amount you are charged will depend on several factors, including the competitive drive of the lender, your current credit record, the amount you have requested, and the length of the loan term.
Borrowers, after they have received their loan payout, must focus on paying the loan back on time and in full as penalties are imposed on those who miss payments, make payments late, or overlook the terms of the contract and try to settle up sooner than anticipated.
Where Can I Get Instant Payday Loans Online Guaranteed Approval?
It’s shaky territory when lenders start offering “instant” loans or “guaranteed approval.” Why? Because it’s not possible to dish out lump sums without doing a few checks and verifications first. For instance, you’re unemployed if you hop onto a website offering instant payday loans guaranteed to be approved and process an application. You have no income; you won’t be guaranteed approval for that loan unless you have collateral to offer or someone else to sign the loan for you. That said, while instant payday loans online guaranteed approval is unlikely, you can expect some of the best fast payday loans available via the Big Buck Loans platform. Here, the lenders provide reasonable eligibility requirements and offer such a speedy turnaround time on loan applications that it almost seems instant!
Are Payday Loans Online Available in All US States?
As it turns out, you cannot get payday loans in all US states. Payday loans are legal in 37 states, including Alabama, California, Colorado, Illinois, Indiana, Kentucky, Iowa, Louisiana, Ohio, Tennessee, Texas, and Maryland. You will find that payday loans are entirely banned and prohibited in Arizona, Connecticut, Arkansas, Georgia, New York, New Jersey, North Carolina, New Mexico, West Virginia, Vermont, Pennsylvania, and Massachusetts. Of course, some lenders work around the bans by offering alternative products to payday loans are forbidden.
Big Buck Loans operates in all states where payday loans are allowed. You cannot apply for payday loans online with Big Buck Loans in the following states as the company doesn’t operate there: Arkansas, New Hampshire, New York, Connecticut, Montana, South Dakota, West Virginia, Vermont, Indiana, and Minnesota.
Can I Get Quick Payday Loans with Bad Credit?
Yes, you can get quick payday loans with bad credit. Somewhere along the way, the concept of having bad credit became a terrifying thing for the average American. The fact of the matter is that bad credit happens, and while it stays on your record for quite some time, you could improve your financial situation in the interim. While banks usually turn bad credit borrowers away, online payday providers don’t. In fact, they offer some of the best online payday loans for bad credit and no credit borrowers as they have simple eligibility criteria attached, and the borrowers consider more than just credit scores when it comes to approving and denying loan applications.
Do I Require a Bank Account to Get Payday Loans Online at Big Buck Loans?
You require a bank account to get online payday loans via the Big Buck Loans website. This is because lenders will use your bank account statements to analyze the loan’s affordability and verify your monthly expenses. In addition, the lender will require your banking details to deposit the funds. Therefore, your bank account must support direct deposit. Also, your bank account will require the lender to set up a monthly debit order so that your loan installments can be automatically collected from your bank on each payday for the duration of your loan term.
How Does Someone Who Is Not Formally Employed Qualify for Payday Loans?
If you don’t have formal employment, you won’t have a boss, and you certainly won’t have regular payslips. In many instances, this spells trouble when trying to open store accounts, apply for credit cards, or get a cash advance. That said, you don’t have to be working a regular job in order to qualify for payday loans via Big Buck Loans. You simply need to prove that you receive the minimum monthly income required, which is $1000 per month. You can prove your income is consistently $1000 or more in more ways than just presenting pay slips! You can show your bank statements to the lender along with any proof of other income. Tax returns, certificates of earning (from freelance platforms), and income statements can all be used for this purpose.
Are Quick Payday Loans Safe?
When shopping around for quick payday loans online, you may wonder if they are safe. Will you be trapped in an unfair contract or even be scammed? One way of eliminating the risk of being “taken for a ride” is to use a loan-finder such as Big Buck Loans. Doing this brings lenders that are registered, licensed, and reputable directly to borrowers and vice versa. It’s always a good idea to do your due diligence, whether applying independently with lenders or through a loan-finder service. Be wary of lenders that aren’t transparent with their fees. You should know the fees for establishment costs, interest charges, and any service fees involved. Also, check the fees for early settlement (there could be a penalty), late payments, and missed payments. Consider your other options first if you encounter a lender with triple-digit interest rates for quick payday loans.
Which Loan is Easiest to Qualify for?
Qualifying for easy payday loans is relative. For instance, an individual with excellent credit and a high salary may find every type of loan easy to apply for. On the flip side, someone who earns a meager salary and has bad credit or no credit history maybe find even small loans difficult to get approved for. At Big Buck Loans, we offer some of the best payday loans in the USA because our lenders are focused on providing a quality product that’s easy to repay. The eligibility criteria for online payday loans on offer can be considered easy. Borrowers must earn $1000 per month (this doesn’t have to be through a permanent job), be legal citizens or residents of the USA and pass an affordability assessment. Then, if they are 18 years old, have their bank account, and can provide supporting documents to aid their application, they’ll likely get approved for a loan.