Top Online Payday Loan Services 2022

 

Are you strapped for cash and need some quick funds to keep you going until your next payday? You can apply for quick payday loans with eligibility criteria that are more lenient than banks and other financial institutions. These payday loans are readily accessible and have a quick online application and approval process. 

 

The following are a few of the leading payday loan matching platforms for bad credit in 2022.

Top 5 Online Payday Loan Services 2022

1. Viva Payday Loans

This online platform gives borrowers the chance to choose suitable lenders who offer instant approval loans. The loans range from $100 to $5,000 with interest rates between 20% and 199.43%

 

The loan terms range from 1 month to 2 years. Viva Payday Loans application process is entirely online where applicants fill out a form and get feedback in under three minutes. 

 

After getting the response, the platform will redirect you to a suitable bad credit lender. Some loan providers require additional information like revenue proof, address, and bank records. 

 

The lender will send you the loan terms and conditions. It’s essential to go through the terms carefully before signing. The funds will be transferred to your bank account after the lender receives your confirmation. 

 

You can apply and qualify for vivapaydayloans.com.au even if you are unemployed, have bad credit or get government benefits. The loans have a 20% set-up fee and a 4% monthly charge

Pros 

  • Payout made on the same day.
  • Quick online application and approval process.
  • Wide range of loan amounts from $200 to $5,000. 

Cons 

  • Some states can’t access Viva Payday Loans services. 

2. Gday Loans

Gday is among the leading payday loan platforms providing loans to those who need some quick cash.

 

The platform provides $200 to $5,000 loan amounts with terms ranging from 1 to 24 months. The online application process is quite simple. After filling out the form, you get a response in less than three minutes. 

 

As a successful applicant, you’ll be transferred to lending institutions that offer payday loans for those with bad credit. However, you’ll have to provide details like proof of revenue and bank statements. 

 

Once you receive and verify your application documents, the lender will give you the loan terms and conditions that you’ll need to sign before they can disburse the money to your account.

 

The interest rates vary from lender to lender, though most charge between 5.99% and 35.99%.

Pros 

  • Quick application and approval process. 
  • Wide range of loan amounts from $200 to $5,000.
  • Same day payout. 

Cons 

  • No upfront provision of interest rates information.

3. Jacaranda Personal Loan

Jacaranda Finance is an online platform that offers short-term loans to clients. It has a straightforward application process that takes a few minutes, and you get feedback within an hour. 

 

These loans have flexible eligibility criteria, and applications are assessed on a case-to-case basis. The platform uses borrowers’ details like income, current loan obligation, and financial history to gauge if they can repay the loan in good time. 

 

You can apply for loans up to a maximum of $10,000 and repay within two years. The interest rates range from 8.69%-48% which translates to a comparison rate of 12.05%-48%, depending on your credit. 

Pros

  • Quick application and approval process. 
  • Flexible loan amounts ranging from $300 to $10,000.
  • Flexible repayment periods. Borrowers can make lower repayments for an extended 9 to 24 months. 
  • Those receiving government benefits are also eligible. Clients getting Centrelink can apply successfully provided they can repay the loan—applications are analysed individually. 

Cons 

  • You must be an Australian citizen or permanent resident to apply for the loans. 
  • You must have a bank account with at least three months earnings.

4. Sunshine Short-Term Loans

Sunshine is a platform that provides short-term loans between $150 to $2,000. The loan terms range from 9 to 24 weeks, although there’s an option of early repayment without extra charges. 

 

Bad credit borrowers can also qualify for loans on the Sunshine platform. The loans have a 20% establishment fee of the total amount and a monthly fee of 4%. Those who receive Centrelink can also apply if the benefits are not more than 50% of their income. 

Pros 

  • The repayment plan depends on your income frequency. For instance, your repayment will be spread across three to four instalments if you have a weekly income. 
  • Applications on business days are processed immediately, and the payout is made on the same day. 
  • Loan amounts of up to $2,000.

Cons

  • You must submit employment details like the employer’s name, contact details, and Centrelink payments. 

5. Fair Go Finance Small Loan

Fair Go Finance is an online platform that offers small loans between $300 and $2,000 with loan terms from 1 to 24 months. The repayment is scheduled according to the borrower’s income. Early repayment without penalty is also an option. 

 

This platform accommodates everyone—even borrowers with bad credit can apply for loans, although they won’t get an establishment fee waiver. This loan is costly even for those with good credit who don’t pay an establishment fee. 

 

There’s a 4% monthly fee in addition to the $18-$400 loan amount and the 20% establishment fee. Payday loans are a short term financial solution that may attract extra debt. Therefore, you should only apply for them during emergencies.   

Pros 

  • Loan amounts range from $300 to $2,000.
  • Loan periods from 1 month up to 24 months.
  • Unsecured personal loans—no assets required as security.
  • Fixed repayment as per the client’s income frequency. The repayment can be bi-weekly or monthly, depending on the borrower’s payday. 

Cons 

  • Monthly fee of 4% and above.
  • There’s a 20% establishment of the loan amount when you first get it. 

Wrap Up

The platforms listed in this post are meant to assist you when you are in dire need of quick cash. Therefore, don’t hesitate to visit the sites whenever you’re in an extreme financial situation.

0 Comments
Oldest
Newest
Inline Feedbacks
View all comments

Related