Payday advances are short term loans that should be returned with applicable interest after receiving next salary. Such loans are meant to meet immediate expenses like medical bills, electric bill, car repairs or mortgage payment. There are occasions when you may find that you have no money left for paying essential bills and your next salary is still a few weeks away. Payday advances are ideal for such conditions. It allows you to borrow small amount of money instantly and tide over the situation.

Payday loans are easy to obtain and involve minimum processing time. In most cases it is sanctioned within 24 hours of application. Most lenders of same day loans have prominent presence online that makes the process of enquiry and application simpler for you. Such loans are usually small amount and borrowers with bad credit record, those fighting insolvency or struggling to make mortgage payments may also be eligible provided they fulfill other conditions.

To apply for payday advance you need to be over 18 and employed. Proof of monthly income and identity from your employer should be furnished. Some lenders may also ask for proof of residence or contractual terms with employer. You should have a valid checking account and provide its number to the lender. Repayment may be in the form of a post dated cheque or direct cut from salary if your employer agrees. As an applicant of same day loan you must provide contact details of your employer as well as yours. If you provide inaccurate personal details or invalid account number then your application for payday advances is liable to be rejected. In most cases the loan is sanctioned and deposited in your account within a day. If that does not happen then check what went wrong and make a fresh application if required.