No matter how well you plan out your budget, sometimes things crop up that throw a spanner into your plans. Whether it’s a car breakdown or an unexpected water bill, there are times when same day loans could help you to keep your finances stable. We have a panel of authorised lenders who could provide you with same day loans online with cash being paid into your bank account within minutes.
What are same day loans?
Same day loans are designed to help you out when you find yourself short on funds. The loan is designed to give you the money on the same day that you apply for them. If your application is approved, a same day loan can get cash into your bank account fast so you can have access to it as quickly as possible. Traditionally a same day loan is there to help with short term financial issues like car breakdowns and home repairs.
Sometimes this type of loan is also referred to as same day payday loans. This is because it’s a short term type of borrowing that is typically repaid in around a month or two. They can have different repayment times but this will depend on the lender and loan terms you’re offered. There are longer term loans available that are same day pay out loans but offer up more time to repay.
Can I get a same day loan with bad credit?
Many people with bad credit think that they can’t get same day loans because of their credit rating. However, with Choose Wisely you could still find a same day loan even if you have bad credit. We have a range of lenders who understand difficult situations and specialise in loans for those with bad credit.
Applying for a loan through Choose Wisely’s Get Accepted loan search won’t have a negative impact on your credit file. Initially our panel of lenders will perform a soft credit check which doesn’t show up on your credit report and won’t have any impact on obtaining another form of credit in the future. Once your initial application has been accepted in principle, if you then choose to complete a full application the lender will then go on to perform a full credit check.
Some lenders will focus on your current situation rather than your credit history. This means that there is always the possibility for those who have struggled with debt and finances in the past to receive a same day loan. There are some eligibility criteria that you will need to meet in order to reply which include:
- Having an active UK bank account with a debit card
- Being a UK resident with a registered address in the country
- Being at least 18 years of age
- Having a proven source of income
- Meeting the affordability criteria to prove you can pay back the loan on time
Can I get a same day loan with no credit check?
People who have a poor credit score often look for a same day loan with no credit check as they believe it could be easier to borrow money. When you use Choose Wisely to compare same day loan options you will only undergo a soft search in initial stage.
However, if after comparing your results you decide to make a full application with a lender you will be subject to a full credit check. Anyone that says you can apply for same day loans without a credit check is not correct, as all lenders need to perform specific checks to make a decision on your loan and ensure that lending to you is a responsible thing to do.
A same day loan is often required with little to no notice. It’s still very important that you read everything about your loan before applying so you understand the agreement and the repayment terms.
Same day loans are not designed to be a long term financial solution. We understand that our customers are looking for the best lender that could help them out of a stressful situation. We have designed our online application process to be super simple to ensure you get to the best loan for you as quickly and efficiently as possible. .
Is it easy to apply for same day loans online?
Here at Choose Wisely we make the same day loan application process as simple as possible. All you need to do is take two minutes to fill in our online form. Based on the information you provide us with, we'll compile a uni comparison table of authorised and reputable lenders who suit your specific needs. The table will show you both who has accepted and declined your application in principle. This ensures you know exactly where you stand with the most suitable and best same day loan options possible.
Once this initial search has been completed you can then choose to continue to a lender’s website and complete a full application. Sometimes the entire process can take as little as 15 minutes and the cash could be in your bank account within the hour.
What direct lenders pay out loans the same day?
It all depends on what direct lender you choose to whether they will (or can) pay out on the same day you apply. The best thing you can do to get your money as quickly as possible is to provide the lender with all of the correct information in your application. This will speed up the process and could lead to the money being released a lot faster if you’re approved.
Although some same day loans can be similar there are variations based on the amounts you can borrow and the length of the repayment term. Payday and same day loans are very popular products for many lenders and aren’t seen in such a negative light as they used to be. This competition is helping to drive interest rates down.
However, we would always advise you to make sure you understand the loan before you accept the money. A reputable lender will explain the loan terms in a straightforward way so it shouldn’t take you any longer to complete your application.
How much can I borrow with a same day loan?
The length of time you have to repay the loan will also vary depending on the lender who accepts your application. Filling in your information on how much you want to borrow and how long you will need to pay it back will help us to find the right lender to suit your circumstances.
You can begin your same day loan application right here today at Choose Wisely. Before you begin make sure you have all the relevant details we need in front of you. This includes proof of income, you address history and your bank account details. If you have any questions about the same day loan application please do not hesitate to get in touch with us today.
Same day loan FAQs
Yes, not every lender that offers a same day pay out loan requires you to have a guarantor.