What are online payday loans?

Payday loans online are kind of small personal loans for short term use provided by online lenders. Also known as cash advances online, payday advances, single payment loans, etc., these provide small loan amount usually between $200 and $1000 when a borrower needs instant funding with no faxing and no lines. Such online loans can be repaid easily through your next paycheck.

Is it safe to apply for a payday loan online?

To apply for an online loan with legitimate payday lenders like us is 100% safe. We are not a loan matching service and we process your loan with no third party involved. Besides, we protect your private data through latest encryption technology from unauthorized access.

What is the cost of a payday loan?

The total payday loan cost is based on the exact amount you would borrow. The loan rates and terms will be stated upfront to you in the cash advance loan document before you sign the credit agreement. However, there are no hidden fees when you apply for personal credit with us.

How to qualify for payday cash advance loans?

To take out a payday advance, you should –

  • Be minimum 18-year-old
  • Be permanent American citizen
  • Have an active checking account
  • Have valid email address and contact number
  • Have verifiable steady monthly income

How to apply for a loan online?

OnlinePaydaySpot's online loan process:

  • Step 1: Access 24/7 loan application online
  • Step 2: Fill out your basic personal and banking details
  • Step 3: Receive instant loan eligibility decision
  • Step 4: Get direct deposit of cash in your bank account (if approved).

How does a quick payday loan work online?

Once you apply online for a fast loan, the application will be reviewed by a payday loan officer and a soft credit check will be run. Post verification, you will be informed of the loan approval decision instantly within minutes. If approved, you will get the funds directly deposited into your authorized account the same day or maximum by next business day. The payment is due typically on your next payday. Hence, these credit products are also known as salary loans or payroll loans.

Can I get an online payday loan for bad credit?

Yes! You can borrow money with bad credit also. OnlinePaydaySpot is a payday loans online direct lender that offers guaranteed approval loans for people with bad credit, slow credit and no credit history. Thus, a less than perfect credit is not an issue with us; you can qualify for payday advance on the strength of your income.

Do you run credit checks to approve an online loan?

Unlike conventional lenders such as banks and credit unions or other online lenders, we do not run hard credit checks. We perform a quick soft credit check to assess your capacity to repay the online loan.

Does credit check hurt my credit score?

Nope. We neither pull your credit history nor do we report to any credit agencies. Therefore, rest assured that our basic credit check will not affect your traditional credit score.

Do I need to pledge my assets to guarantee the pay check loan?

No. We offer unsecured payday loans only. You can borrow collateral free cash with no guarantor and without risking your home or car. Therefore, our credit products are also known as no collateral online loans.

Can I pay back my short term cash advance loan early?

Yes. There are no prepayment penalties. In fact, we encourage you to pay off your loan early, if possible, to avoid late fees and extension fees.

How can I trust OnlinePaydaySpot?

We are a legitimate direct lender online promoting high level of fairness and transparency. In addition, we do not tempt or allow customers to borrow more than what they cannot afford. Such a limitation will make it convenient to pay off the loan and also help them avoid paying extra.

What if I need assistance applying for pay day loans online?

Contact our customer support team if you need quick help with the loan process or have any other queries, complaints, feedback, etc.