Same Day Loans
How much money do you need?
(Won't impact your credit score!)
- 2 Minute Application
- Bad Credit Accepted
- No Credit Check
- Same Day Transfer
What Is the Same Day Loan and How Does It Work?
A same day loan is a type of loan that the borrowers get money, or at least get approved, as fast as on the same day of application. The lenders of these loans can let you know if you're eligible very quickly. Same day loans are usually payday loans, so they tend to have short loan terms, and you can apply for them even if your credit is not good.
What Loans Can Be Offered On The Same Day of Request?
There are many types of same day loans you can find online. The following are the popular ones among borrowers.
Same Day Payday Loans
Same day payday loans are unsecured loans that are intended to be repaid in full when you receive your next paycheck. This kind of loan is often used by people who need money urgently.
Same Day Personal Loans
Personal loans can be used to cover personal expenses. These loans could be made by a bank or credit union. But to get a personal loan on the same day, it's better to find an online loan provider.
Same Day Installment Loans
Same day installment loans allow you to get the money in a lump sum and then pay it back over time with regular monthly payments. This will make it more convenient for you to manage your finances.
Same Day Title Loans
Title loans are a way to borrow money using your car title as collateral. Since they are secured, title loans are quick and easy to apply for, and the lenders can often grant it on the same day of application.
What Are the Eligibility Criteria For Same Day Payday Loans?
When you're looking to apply for a same day loan, there are a few general requirements you'll have to satisfy:
- You should have a stable income source.
- You must be at least the legal age in your state.
- You must have a valid government-issued identification.
- You need to have an active bank account to receive the money.
- You must have a phone number and an email address.
What Are The Rates of Same Day Payday Loans?
The interest rates can be determined by your lenders' loan decisions based on your financial status, and the limit by your state regulation. But on average, you can expect an APR of around 400%.
Here at CocoLoan, we can help you find the loans that suit you well with affordable rates and no hidden fees. So you will always feel safe and well-informed about how much you will be charged about your loan.
Same Day Loan Alternatives
There are many other ways out there that can get you money just as quickly as same day loans:
Cash Advance
A cash advance is a short term loan for an individual who needs money quickly. They can be offered as unsecured small loans or quick cash from the borrowers' credit cards. These financing options are expensive, and often used as band-aid solutions.
Payday Alternative Loans
Payday alternative loans , or their similar products, offer you an option that looks like payday loans, except that they have lower interest rates. These loans are granted by federal or state-regulated credit unions, and don't require good credit to apply for.
Friends and Family
Asking help from your friends and loved ones can be a much better way than borrowing from a financial institution, for their low costs and lax requirements. Remember to repay the money on time – you wouldn't want to damage your relationship with them.
Frequently Asked Questions
1.Are same day loans easy to apply for?
Yes, same day loans are easy to apply as the entire process is online-based. Moreover, the approval rate is high, and you can get the loan as quickly as 24 hours.
2. Is there any hard check for same day loans?
The credit check depends on the lender. However, there are some entities that only perform a soft credit check against your online application.
3. How much cash can I get for a same day loan?
This will be determined by how much the lender thinks they should lend you. But on CocoLoan, the amount for a same day loan can range from $50 to $5000.
4. Are there any risks of using these loans?
Same day loans can be expensive. So to avoid any risk, always ensure you have the ability to repay before taking out any, and don't use them as a long term fix for your financial crisis.