Best Payday Loans Online, Top 5 Payday Loan Lenders in 2022


For those months where your expenses have crossed your budget, or perhaps an unexpected emergency resulted in your account almost going into negative territory – the best payday loans online are here to save the day. 

Online payday loans are incredibly easy to apply for as the entire process is electronic. Once approved, you can receive funds directly in your account. That can take anywhere from a few hours to a day. 

That said, every loan company claims to be the best, but that’s far from the truth. 

As the payday loan industry is notorious for high-interest rates, you have to do your homework to go with an option that’s most feasible for your situation. 

Best Payday Loans Online

1. MoneyMutual – Best Overall Payday Loans Online


  • Quick loan offers
  • Best for small and midsize loans
  • Available in most states
  • Options for people with bad credit


  • No upfront interest rates

MoneyMutual is a payday loan marketplace that connects borrowers with lenders. So the platform itself does not issue the loans rather only facilitates them. 

However, that gives you access to lenders from all over the country, likely improving your chances of finding a lender. 

The personal loan platform is pretty extensive with lots of online lenders, so it does not take long before you have an offer. Once you have accepted the terms of the lender, including the interest rate, you will communicate and work directly with them.

The website is fairly easy and free to use.

This is because you’re not required to accept an offer after applying, you can simply compare the lenders and only accept if you think the rates and repayment terms work for you. 

Eligibility Requirements: 4.5/5

To get a payday loan on MoneyMutual, you must be at least 18 years of age, a U.S. citizen or permanent resident, employed, and have a bank account where the lender can deposit money, should you accept their offer. 

Also, to use MoneyMutual you must be a resident of the states which includes all states except New York. 

There aren’t any specific credit score requirements, so even if you have a bad credit score, you may be able to apply and find lenders. 

Lending Amount: 4/5

The loan amount on MoneyMutual ranges from $200 to $5,000. While this range is suitable for a payday loan, as most people don’t want to take out very big loans, there are personal loan providers that offer even higher lending amounts. 

Interest Rates and Fees: 4/5

As MoneyMutual is a marketplace, there are no fixed interest rates, and the rates are offered by the lenders. That’s because the lenders review the application and decide if they want to offer the loan and at what rate. 

While the interest rate may vary depending on your profile and lending amount – the good thing is that there’s no fee. 

Repayment: 3.5/5

The loan repayment term varies greatly, but typically bigger loans have a longer duration for repayment. 

2. CashUSA – Top Payday Loans for Installment Payments


  • Competitive APR
  • Quick application & lender offers
  • Long-term installments
  • Automatic payment option


  • No upfront interest rates

CashUSA is one of the most popular payday loan websites that can also make the process very quick. 

It’s a good option for those looking for installment loans for longer terms, as the repayment time can be as long as 72 months. 

Once you apply, CashUSA does a soft credit pull, which is safer than a hard credit pull. That way, the credit check does not impact your credit score. It works with several lenders that ultimately fund the loan. 

Best of all? 

On CashUSA it’s possible to get a loan in as quick as 24 hours, as well as negotiate the terms with the partner lender. 

Eligibility Requirements: 4.5/5

To be eligible to apply for an online payday loan on CashUSA, you must be 18 years or older,  a U.S. citizen or resident, and have been employed for the past 90 days with a monthly income that meets the lender’s minimum requirements (typically $1,000 or higher after taxes). 

Additionally, to receive the funds, you must also have a checking account, as well as a valid phone number, address, and email to sign up with.

Lending Amount: 4.5/5

On CashUSA, you can ask for a loan from as low as $500 and as high as $10,000. If you get an offer from a partner lender and accept it, you can get the funds in your checking account within one business day. 

Interest Rates and Fees: 4.5/5

The interest rates depend on the loan amount, where you live, and your credit score. So the APR will vary for each application. 

That said, the APR normally ranges between 5.99% to 35.99%, which is comparable with rates offered by banks and credit unions. 

There might be other fees in addition to the interest rate, which the lender will mention in their offer. 

Repayment: 4/5

Repayment terms can be as long as 72 months as short as 90 days. However, that depends on the loan provider. Also, the penalty on early repayment depends on the lender. 

3. BadCreditLoans – Best Payday Loan for Bad Credit


  • Good for credit scores of 500 or lower
  • Free application
  • Competitive APR
  • Easy applying process


  • Low lending amount for poor credit score
  • Does not tell interest rate upfront

If you have a credit score of 500 or lower, you may find BadCreditLoans a viable option as it’s designed for such individuals. 

However, anyone can apply for a loan through the platform, regardless of their creditworthiness. 

The application process is completely free and encrypted, so all the info you provide is safe. Normally, it takes 24 to 48 hours to receive funds. Many applicants may even receive more than one offer from lenders – which allows them to go with the best terms offered. 

BadCreditLoans, unlike many other such platforms, also offers 24/7 customer support. 

Eligibility Requirements: 4.5/5

The eligibility requirements are pretty straightforward; you must be a U.S. citizen or resident of age 18 years or more, have a steady income with proof of employment, and have a bank account where the funds can be deposited. 

Lending Amount: 4.5/5

The lending amount on BadCreditLoans ranges from $500 to $10,000. However, those with a credit score of 500 or lower may only be able to get a loan of up to $1,000. 

Interest Rates and Fees: 4/5

You would expect that with a poor credit score, the interest rate would probably be in three digits, but that’s not the case with BadCreditLoans. 

Although the interest rate varies case by case, normally, it’s within the competitive range of 5.99% to 35.99%. 

BadCreditLoans itself does not charge any fee for using the platform or getting the loan, as it does not fund the loan itself. 

Repayment: 4/5

The repayment terms for loans on this platform range from 3 to 36 months. Of course, penalties on late and non-payments will apply as per lender conditions. 

4. 247 Dollar Loan – Best Payday Loan With a Quick Approval


  • Quick application & approval
  • Secure platform
  • Installments may be available


  • High APR range
  • Small loan amount

247 Dollar Loan provides instant payday loans online through its lending partners. 

Note that the company does not lend money itself. 

It’s a payday loan service in the true sense of the word, as the loans are small, short-term, and normally need to be paid on your next payday. 

The application process is quite simple, involving just 5 steps. The decision also comes within minutes, according to the company, so it’s a good option for when you need funds for an emergency. 

Eligibility Requirements: 4.5/5

The eligibility requirements for getting a payday loan on 247 Dollar Loans are that you must be a U.S. citizen or permanent resident. You must also be 18 years or older, and employed with a minimum of $800 in monthly income. 

As there’s no minimum credit requirement, you may be able to get a loan even with a poor credit score. 

Lending Amount: 3.5/5

The loan amount can be only up to $1,000. 

Interest Rates and Fees: 3/5

As these are short-term payday loans, the APR is generally high. The interest rate can range from 235% to 1304%. However, the rate will depend on the amount and creditworthiness, as determined by the lender. 

Repayment: 4/5

The repayment time varies but is generally within 30 days, so most likely, the amount with the APR will be due on your next payday. 

5. Zippyloan – Best for Unsecured Personal Loans


  • Options for poor credit scores
  • Small lower limit of loan ($100)
  • Quick application
  • Can help improve credit score


  • Interest rates not competitive
  • No match guarantee

Zippyloan is another personal loans marketplace that connects borrowers with lenders with an easy and quick application form.

It’s suitable for both short-term and long-term personal loans for people with all levels of creditworthiness. Of course, the rates will vary depending on your credit score.

It’s a better option for long-term loans as short-term payday loans have high fees. You can use these loans for important financial commitments like paying off debt, paying the mortgage, or taking on a home improvement project. 

Eligibility Requirements: 4/5

You must be a U.S. citizen or permanent resident, 18 years or older, employed, and have a bank account to qualify. Also, Zippyloan is not available in Washington D.C. and some states, including New York, Oregon, and West Virginia. 

Lending Amount: 4.5/5

You can ask for a loan as small as $100 and as big as $15,000. Your credit score may also impact the loan amount you can qualify for. 

Interest Rates and Fees: 3.5/5

Zippyloans does not give much information about the APR on the loans upfront, as they vary case by case. 

Generally, short-term loans have a high-interest rate, especially if you have a poor credit score. The lender may also charge other fees in addition to the interest rate. 

Repayment: 4/5

The repayment term is dependent on loan type and lender. While short-term loans may need to be paid within a month, long-term loans have a term of 6 to 60 months. 

How Did We Choose the Best Cash Advance Loans?

Payday loans often fall in that gray area where they can be life-saving but also crushing at the same time. 

However, not all options are bad. 

We used the following criteria to find the top five payday loans online:

Credit Score Requirements

While traditional loans from banks have certain credit score thresholds that one must qualify for to even apply for a loan. Payday loans, especially short-term ones, often don’t have such requirements. 

However, that comes at the expense of high APR. 

We searched for payday loan platforms that do accept people with bad credit scores and do not apply incredibly high-interest rates. While the APR rates are still high compared to what you would get if you had a good credit score, the rates are competitive. 

Interest Rate

Of course, the APR rate is very important when applying for a payday loan. You don’t want to pay very high interest because, for many, that may prove counterproductive, and they may not even be able to pay back the loan with interest. 

We used both the APR range and how it is determined to select the best payday loans. In most cases, it’s the lenders who decide the APR. 

However, it’s at the borrower’s discretion whether they accept the APR proposed or not. 

Application Procedure and Time

Payday loans are supposed to be quick because people are often taking out these loans for imminent expenses like mortgage payments, essential household expenses, medical emergencies, etc. 

When you’re in such dire need of funds, time is of the essence, and you cannot wait for days to find a lender and get approved. So, we only shortlisted payday loans that take less than 48 hours to process.

Some of them can even result in lender offers in a matter of hours and funds disbursement the very next business day.

Related reading: Best bad credit loans

Guide to Payday Loans Online

How do payday loans work?

Payday loans are quick loans that are usually short-term but can also be long-term, provided by a lender at interest and maybe a processing fee. 

These loans are available under certain conditions (eligibility requirements) to help offset pending expenses before you get your pay. 

These are available to working adults only. 

Can I get a loan with a poor credit score?

Many payday loan platforms do accept applications from individuals with low credit scores (lower than 670). 

However, typically the interest rate is higher if you have a poor credit score. 

Will the lender do a credit check?

In most cases, lenders do conduct a credit check before approving the application and offering the loan. 

However, it may not impact your credit score if they do a soft credit check. 

How do I choose the best online personal loans?

To choose the best payday loan service for you, make sure that you meet the eligibility conditions. More importantly, go for a platform that offers low or at least competitive interest rates and also offers a repayment term that may be feasible for you. 

You will get a chance to accept or deny a loan acceptance offer from a lender, so make sure to read the terms carefully before accepting. 

You also want to make sure that the lender is licensed. 

Top 5 Online Payday Loan Comparison

Payday Loans Eligibility Requirements Lending Amount
  • US Citizen or Permanent Resident
  • 18 years or older
  • Employed
  • Bank account
$200 to $5,000
  • US Citizen or Permanent Resident
  • 18 years or older
  • Employed (for 90 days at least) with minimum $1,000 monthly earning 
  • Bank account 
$500 to $10,000
  • US Citizen or Permanent Resident
  • 18 years or older
  • Steady monthly income
  • Bank account 
$500 to $10,000
247 Dollar Loans
  • US Citizen or Permanent Resident
  • 18 years or older
  • Monthly income of at least $800
  • Bank account 
Up to $1,000
  • US Citizen or Permanent Resident
  • 18 years or older
  • Steady monthly income
  • Bank account
$100 to $15,000

 How to Get Started With Payday Lenders?

You can get a payday loan online in three simple steps:

Step#1: Fill in the Online Application.

Visit the payday loan website and send the application with all the necessary information.

Step#2: Receive Loan Offer.

If your application gets accepted, you will have the opportunity to read all the terms of the loan and accept it.

Step#3: Receive the Loan.

Once you have accepted the loan offer from the lender, you will receive funds in the bank account you gave in the form. 

Best Online Payday Loan Lender – Easy Way to Get Quick Cash

If you’re living paycheck to paycheck, you already know the struggle of making ends meet. 

But somewhere along comes an expense that you just cannot bear right away, and that’s where the top payday loans like MoneyMutual and CashUSA – may just help you pay for it. 

The good thing is that on most of the platforms, it’s free to apply for such a loan. 

However, don’t go overboard with such applications as they can negatively impact your credit score. 

Also, never accept a loan offer without reading the entire terms and conditions. 

Good luck!

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