Here at Loan Owl our aim is to provide you with a lot of information surrounding payday loans and the best practices on how to obtain one but a lot of you might simply be wanting to know what are instant payday loans? Well you are in luck as we look in to what on-the-spot pay day loans actually are and how they can both help you at times of need but also cause a lot of trouble if not dealt with sensibly.

The first thing to be aware of is that these quick decision loans are not too be taken on as long term solutions for money problems as if you go in it with this mind set then you are definitely going to end up in a worse off situation. The purpose of these short term loans is simply to help you out if you need money on the spot but KNOW that you will be able to pay back the lender in the agreed time period, for example if you get a surprise bill through near the end of the month but know you will have enough money to pay it off with come payday. This is a very suitable time to make use of an express payday loan as the interest will be kept at a minimum, you have money coming in to pay it off and it gets you out of a potentially stressful situation as you won’t have people chasing you for bills.

The reason these prompt loans are getting so much negative press is because if you fail to meet the agreed repayment timescale then you could face some really hefty interest payments as most of these lenders charge around 1700% APR on the loans so even by missing the payment date by a week could result in hundreds of pounds extra depending on how large the loan was in the first place.


Q: How Much Money Can I Borrow?

A: It varies from each lender however generally speaking you can borrow up to £2000 with a payday loan.

Q: How Long Do I Have To Pay Back The Loan?

A: Again it does vary depending on which loan provider you choose, most of the time you usually have up to 28-31 days to pay back your loan. If you are looking for a longer term loan then consider using a 12 month loan.

Q: I Have A Bad Credit Rating, Can I Still Take Out A Loan?

A: Yes, even if you have make poor decisions before or found yourself in bad financial situations you can still take out a fast pay day loan.

Q: Am I Guaranteed To Get A Payday Loan?

A: Most people will be approved a payday loan however in some circumstances you may find that you will be denied the loan due to previous financial history or if you are not currently in work or have regular income coming in.

So there you have it the ins and outs of instant decision payday loans and how they should be used, let us know if you have any questions in the comments and we will try to respond!


Weekend Payday Loans

Picture the scene, it’s the last Friday of the month and it’s your best mate’s Birthday, by a trail of unfortunate decisions you find yourself completely broke with no money put aside for the weekend. You’ve asked to borrow money from friends and family but they too are in the same position, just waiting for payday to come around so you are left with a decision to make… do you stay home with a less than appetising microwave meal for one or do you use a payday loan so you can borrow enough money to make it to your friend’s Birthday night out and have enough money to last you until your next payday? I know which one I would choose! This is one of the many practical uses of a weekend payday loan and seeing as you can have the money in your bank account within a matter of hours you can rest assured that you will have enough cash for the whole weekend!

VN:F [1.9.22_1171]
Rating: 10.0/10 (2 votes cast)
VN:F [1.9.22_1171]
Rating: +1 (from 1 vote)

Instant Payday Loans, 10.0 out of 10 based on 2 ratings


How This Site Works

  • This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
  • We link to other websites a lot, but we cannot be responsible for the content on those websites.