Same Day Loans

Frequently asked questions

• I am currently unemployed, can I get same-day loans? >

  Most lenders or creditors offer same-day loans only to individuals with a steady source of income and you must check with your lender’s eligibility criteria before applying.

• Are same-day loans secured? >

  Same-day loans usually come under unsecured personal loans and the applicant does not have to submit a collateral/security to get the loan.

• Will I get a same-day loan if my credit score is low? >

  Many lenders check your credit score along with the other determinants of the eligibility criteria to determine whether you are eligible for the same loan or not, while some do not consider credit score while determining eligibility. So make sure to check with the lender beforehand to avoid loan rejection.

• Will I have to pay processing fees to get a same-day loan? >

  Unless mentioned specifically, most lenders will charge you one-time nominal processing fees on the loan amount before it is disbursed.

• What is the difference between a same-day loan and a payday loan? >

  Both of these loans are short-term loans with pay-day loans typically due on your next payday cycle and have higher interest rates whereas same-day loans have a slighter longer repayment cycle with different terms and conditions.

• Can I apply for multiple same-day loans together? >

  You can apply for multiple same-day loans simultaneously but it is not advisable as it will harm your credit score and increase the debt amount and repayment challenges.

• After how much time will I receive funds in my account in case of same-day loans? >

  The approval time frame may vary from a few minutes to a few hours, but applicants receive the loan amount the same day they apply for same-day loans.

• For what purpose can same-day loans be used? >

  Same-day loans can be used for any purpose for which applicant would be needing immediate funds like medical bills, credit card bill, or other personal reason.

• Can I get same-day loans without a bank account? >

  It is difficult for lenders to facilitate loan disbursals and repayment without a bank account of the borrower.

• Are same-day loans safe? >

  Reputable and esteemed lenders follow all regulations and guidelines to ensure that the borrower’s information is not comprised at any cost and as a borrower, one must do a through research about the lender and their policies to avoid getting in scams and malpractices associated with lending.