It’s only a myth that loans generally take too long to process. While this may be true for bank loans and those from traditional financial institutions, slow processing is quite alien to online lenders' patronizers. Some lenders process loans within the same day of approval or the next business day (if any delay). Some of these lenders also have high approval rates and would consider you for a loan even if you have bad credit. You can locate these lenders here;
5 Best Same Day Loans with Guaranteed Approval for Bad Credit
- WeLoans: Best for overall
- CocoLoan: Best for data safety
- US Installment Loans: Best for minimal check requirements
- Fast Title Loans: Best for same day title loans
- iPaydayLoans: Best for quick approval decisions
WeLoans: Best for overall
WeLoans is undoubtedly one of the most popular lending services today. It offers same day loans to both good and bad credit borrowers. Even with bad credit, applicants can request up to $5000. However, the exact amount they get may depend on a host of variables (usually other than credit score). Lenders process the approved sum for free and frown against underhand tactics and ridiculous debt collection practices analogous to predatory lenders.
Pros
- Employs regulated debt collection practices
- Offers high same day loan amounts, up to $5000
- Zero processing fee
- Loans are processed within the same day most times
- Lenders have high approval rates, up to 97%
Cons
- May be out of reach to persons without a reliable source of income
Get up to $5000 Same Day Loans on WeLoans >>
WeLoans: Best for overall
WeLoans is undoubtedly one of the most popular lending services today. It offers same day loans to both good and bad credit borrowers. Even with bad credit, applicants can request up to $5000. However, the exact amount they get may depend on a host of variables (usually other than credit score). Lenders process the approved sum for free and frown against underhand tactics and ridiculous debt collection practices analogous to predatory lenders.
Pros
- Employs regulated debt collection practices
- Offers high same day loan amounts, up to $5000
- Zero processing fee
- Loans are processed within the same day most times
- Lenders have high approval rates, up to 97%
Cons
- May be out of reach to persons without a reliable source of income
Get up to $5000 Same Day Loans on WeLoans >>
CocoLoan: Best for data safety
With CocoLoan, not only can you get same day loans with high approval rates, but you are sure that your financial information is in good hands. CocoLoan users enjoy bank-level confidentiality as all information entered on the site is protected by the website’s bank-level security and encryption protocol. The website is simple and easy-to-use, making it navigable and attractive to loan newbies. The service is free to use, and its partner lenders do not charge any processing or hidden fees. The approved sum is exactly what you get.
Pros
- Loans have high approval rates
- Service is free to use
- Website is simple to use
Cons
- APR may be a little high compared to some of its competitors
Increase Your Approval Chances With CocoLoan High Approval Lenders >>
US Installment Loans: Best for minimal check requirements
You’re in the right place if you are pressed too hard to get same-day loans with minimal check requirements. Same day loans available on US Installment Loans do not require so many checks. Most times, you’re good to go once you pass the lender’s affordability checks.
Borrowers can request no credit check loans, personal loans, payday loans, and other forms of same day loans. These loans may be secured or unsecured.
An applicant may also request a loan with an applicant. This can help them qualify for lower interest rate loans and possibly negotiate higher loan amounts. The caveat here is that the co-applicant has a good credit score.
Pros
- No prepayment penalties
- Zero origination fees
- Lenders do not run hard credit inquiries on borrowers
Cons
- Interest rates on bad credit loans may be a little above the market average
Click Here to See What US Installment Loans Has in Stock >>
Fast Title Loans: Best for same day title loans
Looking for an attractive same day title loan deal near you? Check out Fast Title Loans. This service connects you to nearby multiple loan offers in one application. Its partner lenders accept most car makes and models and can offer you up to 25%-50% of your car’s value. Most of its lenders, unlike others, aren’t overly zealous about taking possession of your vehicle when you default on payment. They may be open to making alternative arrangements for payment.
Pros
- Lenders accept most car makes and models
- Connects applicants to nearby lenders
- Have bad credit loans accessible to borrowers with poor credit
- Funding is usually processed within 24 hours
Cons
- Some features may not be accessible to new customers
Enjoy Attractive Title Loan Deals on Fast Title Loans >>
iPaydayLoans: Best for quick approval decisions
With the number of lending commercials and ads on our screens, it’s become harder than ever for borrowers to differentiate legit same day loan lenders from predatory ones. One of the easiest ways to do this is to apply for one on iPaydayLoans. This service’s network consists of only reliable and licensed lenders.
The lenders are committed to helping borrowers process their requested cash as soon as possible. To make this possible, they make approval decisions in under five minutes and do not require many checks before approving an applicant for a loan.
Pros
- Extensive network of reliable, licensed lenders
- Make quick approval decisions, in five minutes or less
- Only soft credit checks on borrower’s profile
- Has many loan options
Cons
- Loans aren’t accessible in all states
Quick Approval Decisions are a Given With iPaydayLoans. Apply for Its Loans Now >>
FAQs
What Are Some Common Types of Same Day Loans?
Some of the most common types of same day loans are no credit check, payday, bad credit, personal, quick, installment and title loans. Depending on the lender and the bank’s processing speed, these loans can be processed on the same day.
Can I Apply for a Loan and Receive the Money on the Same Day?
Yes, you can. The chances are high when you apply for a same-day loan and higher when you apply early into the lender’s business hours. Also, ensure you satisfy all eligibility requirements and have all the required documents ready during the time of applying.
Is Same Day Loans Online A Good Bet?
For people who couldn’t handle their emergencies well because of slow cash processing, who couldn’t obtain a loan because of their bad credit rating, and who do not want multiple hard credit inquiries ruining their credit files, it’s a definite yes. Same day loans are processed quickly, have minimum credit requirements, and do not need hard credit checks.
How Do I Select the Best Same Day Loans?
You can trim down your options by taking a look at the loan’s eligibility requirements, approvable loan amount, APRs, fees, repayment terms, and late payment penalties. Does the lender’s offer (based on these metrics) meet your expectations? If yes, you should probably get it.
