10 Best Online Payday Loans with Same Day Deposit

Thang Truong
Thang Truong
Updated on:

Roughly one-third of Americans have less than $1,000 saved for emergencies. A payday loan is usually a very short-term loan made by a lender who specializes in these loans. They are meant to get you through to your next payday. In addition to being short-term loans, they are usually for small amounts–$500 or so. 

People usually get a payday loans at one of the shops in their local neighborhood or city. However, more and more companies offer payday loans online these days. They also offer same day deposit, making it easier, more convenient, and faster to obtain a payday loan. We research and list the 10 best online payday loans with same day deposit for your consideration.

The 10 best online payday loans with same day deposit

Here are the 10 best lenders of online payday loans with same day deposit.

Advance America

In addition to payday loans (depending on your state) Advance America also offers installment loans, title loans and lines of credit. Advance America has been in business for 23 years, and has granted over 134 million loans. You can get approved for a payday loan in minutes and have the money in your account the same day. 

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Technically, MoneyMutual isn’t a lender, but an aggregate that will identify lenders for you. They work with over 60 lenders and the application process takes less than five minutes. Many of the lenders they work with can deposit the money for you the same day—some within minutes. You can borrow up to $5,000. Reviews are positive, although it should be noted that MoneyMutual doesn’t actually lend any money and is not responsible for your experience with your lender. 

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BadCreditLoans is like MoneyMutual, in that it doesn’t lend any money, but rather hooks you up with approved lenders who can get you the money you need. 

The application process takes about five minutes, and you can choose whatever lender gives you the best terms. Some lenders can deposit the money in your account the same day. They also have customer service available 24/7 in case you have questions. The application does go into things like current debt, income, and any savings you have. 

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CashNetUSA has been in business since 2004, so they are a well-established company. They operate in 30 states (payday loans are illegal in some states). If you have bad credit, you can still get a loan and sometimes the deposit will be in your account the same day. 

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If you apply by noon, Cash Advance can deposit money into your account the same day. The application process is easy and requires only that you be at least 18 years old, have a checking account and a steady source of income. You will then get multiple offers from payday lenders and you can choose the one that best meets your needs. There is no credit check and you’ll get a decision within minutes. 

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24CashToday also offers Title loans and installment loans, in addition to payday loans. If you apply before noon on a business day, you have an excellent chance of getting your money the same day. They do soft credit checks, though, to determine how much interest to charge, but people with bad credit can absolutely qualify for a loan from 24CashToday. 

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Green Day Online

Like most payday loan lenders, Green Day Online requires only that you be at least 18, have a checking account and a steady source of income. You can get your money the same day, for the most part, unless you apply on a weekend or a holiday. 

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Payday Champion

Although Payday Champion only has seven reviews on Trustpilot, they do average 4.2 stars, which is very good for a payday lender. You’ll need to apply before 11 a.m. to get the funds in your account the same day. You can get up to $1,500 (in some states) and if you qualify, you can an installment loan or a title pawn loan. You can get a payday loan with bad credit or even no credit. 

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Wise Loan

Wise Loan doesn’t do payday loans, per se, they offer installment loans. You can get between $200 and $2000, often on the same day you apply. They are not available in every state, however. You’ll need to be a resident of:

  • Delaware
  • Idaho
  • Mississippi
  • Louisiana
  • Missouri
  • South Carolina
  • Texas
  • Utah
  • Wisconsin

Unlike most payday loan companies, Wise Loan earns an A+ from the BBB, with 309 mostly positive reviews. If you repay your loan on time, you’ll earn cash rewards for your “nest egg.” You can earn from $1 to $5 in rewards for every $100 you pay back on time. 

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It’s nice that 67CashToday cautions you against taking out payday loans, even though they offer them. They are also upfront that these are short-term, high-interest loans and should only be sought in emergencies. All you need is your banking information and a steady income, plus an email address and a phone number. They’ll try to match you with a lender. They are also refreshingly honest that if you have a bad credit score, you might not get any offers. Then they recommend offering something for collateral, such as a title loan. 

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Online payday loans with instant approval

All 10 online payday loan lenders that we list above also provide instant approval. Traditionally if you apply for a loan at a bank, they could take a few days to have a decision. However, almost all online payday loan lenders offer instant approval. After you fill out the application online, which usually just takes 5 minutes or less, you will receive the decision immediately.

As long as you have a checking account, a verified income, and verified personal information, you should be able to get an instant approval decision for your online payday loan application.

What is a payday loan?

Roughly one-third of Americans have less than $1,000 saved for emergencies. A payday loan is usually a very short-term loan made by a lender who specializes in these loans. They are meant to get you through to your next payday. In addition to being short-term loans, they are usually for small amounts–$500 or so. 

Sometimes emergencies come up, and you need access to cash as quickly as possible. Most personal loan lenders such as banks take at least a few days to process. However, you can get a payday loan with same day deposit, giving you the cash you need right away. 

All of this sounds great, but you should be aware that payday loans are quite expensive. A typical fee is $15 for every $100 borrowed, which means if you borrow $500, you’ll have to pay back $575. This is the equivalent of a 391% interest rate. You might be thinking, “Whoa! What are you talking about? $15 on a $100 is 15%, not 391%.” This is true, but keep in mind you have to pay the loan back in two weeks, so if you calculated it based on a full year loan, borrowing a $100 would cost you $391. 

Which states are payday loans not allowed legally?

Payday lending is not allowed legally in the following 13 states: Arizona, Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, West Virginia, and the District of Columbia

How does a payday loan work?

You need a bank account and some kind of verifiable income. The lender will set a date the loan is due, somewhere between two and four weeks after you receive the money. You will fill out a form, saying the lender can electronically debit your account for the amount of the loan on an agreed upon date. Sometimes, you’ll just give them a post-dated check for the amount due. 

How much can I borrow from online payday lenders?

While a common amount of a payday loan is $500, they can range from $50 to $1,000. Many states set caps on how much you can borrow. For example, California and Montana set the cap at $300, while Delaware, Idaho and Illinois allow you to borrow up to $1,000. Nevada and New Mexico limit payday loans to 25% of the borrower’s monthly income. And of course, some states won’t let you take out a payday loan at all. 

What if I can’t pay back a payday loan?

Basically, the lending company will take the funds out of your account. If you don’t have that much money in your account, or not the entire amount, the lender will charge you penalty fees and more interest, digging you into a deeper hole than where you started. Your bank will also charge you an overdraft fee. If they can’t get their money at all, (and up to 20% of those who take out payday loans can’t pay it back) the lender will turn it over to a debt collection agency. They could take you to small claims court, too. Both actions will damage your credit, making it more difficult to get financing in the future. 

What is a rollover loan?

If you can’t pay your loan back, there are some lenders that will “roll” the loan over into a new loan or renew the existing loan. This comes with more interest and additional fees. Technically, you could just pay the fees and extend the life of the loan, but it’ll cost you more money. 

Can I get a payday loan if I am in the military?

No. Payday lenders are reined in by the Military Lending Act, which caps interest rates at 36%. They can’t take the repayment out of your paycheck automatically, either. There are a few other protections the MLA gives members of the military. If you are a member of the military and are considering a payday loan, there are better options available for you. Many lenders offer low interest loans for military members. 

What are some alternatives to a payday loan?

Many people who take out payday loans do it because they don’t see any other options and payday loans are easy to get. That said, if you can, you should absolutely explore other options, such as:

Bad credit personal loans: while the interest rates on a bad credit personal loan is higher than for someone with good credit, the advantage is that you’ll have longer to pay the money back. The interest rate will still be much lower than with a payday loan. 

Bad credit credit cards: Secured credit cards require a deposit, which won’t help you at all if you’re having an emergency cash flow problem. However, you might find a credit card if you have fair credit. If you can plan ahead and take out a secure card with a deposit before you really need it, many secured cards allow you to move to a regular credit card after six months of responsible use. 

Family/friends: if you’re really in a spot, you could ask family or even a friend to spot you some cash for the short-term. Yes, it is embarrassing, and if you don’t pay the money back, your relationship might be damaged. On the plus side, family and friends don’t usually charge interest. If you go this route, take it seriously and make a payment plan. 

Paycheck advance: There are apps that will advance you money from your next paycheck—usually between $100 and $500. They charge far less for this service than payday loans do, and it’s a good alternative if you have a steady income. Try Earnin, Brigit, or Chime. 

Best Payday loans with same day deposit and bad credit

Many people who apply for payday loans have bad credit. A bad credit score is anything below 670 on the FICO scale. At least 35% of people have poor credit. 

If you do have a poor credit rating, you should probably attempt to improve your credit score. Obviously, this is easier said than done when you’re barely eeking out a living. You could consider a secured credit card. You’ll need to deposit money, which acts as collateral for the credit card. For example, if you deposit $200, you’ll have a credit limit of $200. If you carry a balance, you’ll be charged interest. If you pay your balance in full, you won’t be charged interest. This may seem like a terrible deal since you’re essentially paying interest to use your own money, but if you use the card responsibly, you can move to a regular credit card with a higher credit limit—no deposit required. 

Best Payday loans with same day deposit and no credit

Most payday loans won’t do a credit check, so if you don’t have any credit, it shouldn’t prevent you from getting a payday loan. All you need is a bank account, a steady source of income, and an email address. 


How does the lender determine my interest rate on a payday loan?

It depends on state laws and on the lending company. A typical rate is $15 per $100 borrowed, which sounds okay. But keep in mind, you have to pay this money back in two weeks, potentially digging you into a bigger hole than you started in. 

How do I apply for a payday loan?

It’s usually very easy. Most lenders have a form for you to fill out. They’ll ask your name, checking account numbers, and where you work, plus verification of your income. If you apply by 12 noon, you can usually get the money the same day. 

Is there an application fee for a payday loan?

No, not usually. 

What if I can’t pay it back?

This happens to many people who take out payday loans. It’s possible to roll the loan over into a new loan with some lenders, and some may give you an extension on the loan. However, there are additional fees and interest charges. As soon as the money is in your account, the payday lender will take it as soon as they can, which is why payday loans are fairly low risk for the lender. 

What do I need to do to get a payday loan with same day deposit?

Make sure you submit the online application by 11AM to ensure the loan amount will be deposited in your bank account on the same day.

Payday loan regulations by states

Payday loan has been under serious scrutiny of public and regulators due to their predatory nature, some states prohibit payday loans altogether. Check out the complete list of state regulations around payday loans below to see what your state allows. If your state prohibits these loans, you can’t just get one online or go to a different state—you’ll have to seek out other options. 

StateLegalAPR RegulationsMax Loan AmtLoan TermsCost per $100Small Loan Rate Cap
AlabamaYes456.25%$50010 – 31 days$17.50N/A
AlaskaYes520%$500Min: 14 days$20N/A
ArizonaNoN/AN/AN/AN/A36% per year plus 5% fee
ArkansasNoN/AN/AN/AN/A17% per year
CaliforniaHeavily Regulated459%$300Max: 31 days$17.65N/A
ColoradoHeavily RegulatedN/A$500Min: 6 months$7.50N/A
ConnecticutNoN/AN/AN/AN/A30.03% APR or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest
DelawareYesNo Limit$500 per loan, $1,000 max per borrower at a one timeMax: 60 daysNo LimitN/A
FloridaYes419%$5007 – 31 days$16.11N/A
GeorgiaNoN/AN/AN/AN/A16% per year (10% per year discounted plus fees); 60% per year criminal usury cap
HawaiiHeavily Regulated459%$600Max: 32 days$17.65N/A
IdahoYesNo Limit$1,000Not SpecifiedN/AN/A
IllinoisHeavily Regulated403%lesser of $1000 or 25% gross monthly income13 – 45 days$15.50N/A
IndianaHeavily Regulated390%$550 or 20% of gross monthly incomeMin: 14 days$15N/A
IowaHeavily Regulated433%$500Max: 31 days$16.67N/A
KansasHeavily Regulated390%$5007 – 30 days$15N/A
KentuckyHeavily Regulated459%$50014 – 60 days$17.65N/A
LouisianaHeavily Regulated780%$35060 days or less$30N/A
MaineHeavily RegulatedN/AN/AN/AN/A30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 for amounts financed $75.01-$249.99; or $25 for amounts financed of $250 or more.
MarylandNoN/AN/AN/AN/A2.75% per month; 33% per year.
MassachusettsNoN/AN/AN/AN/A23% plus $20 administrative fee upon the granting of a loan
MichiganHeavily Regulated390%$600Max: 31 days$15N/A
MinnesotaHeavily Regulated390%$350Max: 30 days$15N/A
MississippiHeavily Regulated520%$500Under $250: maximum of 30 days; $250 – $500: 28 – 30 days$20N/A
MissouriYes1950%$50014 – 31 days$75N/A
MontanaHeavily Regulated36%$300Max: 31 days$1.39N/A
NebraskaHeavily Regulated459%$500Max: 34 days$17.65N/A
NevadaYesNo Limit25% of expected gross monthly incomeMax: 35 days; up to 90 days allowed if the initial agreement provides for installment payments and is not subject to extensionNo LimitN/A
New HampshireHeavily Regulated36%$5007 – 30 days$1.38N/A
New JerseyNoN/AN/AN/AN/A30% per year
New MexicoNo175%N/AMinimum maturity period of 120 daysN/AN/A
New YorkNoN/AN/AN/AN/A25% per year
North CarolinaNoN/AN/AN/AN/A36% per year
North DakotaYes520%$500Max: 60 days$20N/A
OhioHeavily Regulated28%$500Min: 31 days$1.08N/A
OklahomaHeavily Regulated390%$50012 – 45 days$15N/A
OregonYes156%Not specifiedMin: 31 days$13 for a 31-day loanN/A
PennsylvaniaNoN/AN/AN/AN/A$9.50 per $100 per year for interest, plus a service charge of $1.50 per $100 per year.
Rhode IslandYes260%$500Min: 13 days$10N/A
South CarolinaYes390%$550Max: 31 days$15N/A
South DakotaYesNo Limit$500Not SpecifiedNo LimitN/A
TennesseeYes459%$425 ($500 check)Max: 31 days$17.65N/A
TexasHeavily Regulated309.47%Not specified7 – 31 days$11.87N/A
UtahYesNo LimitNo LimitMay not exceed 10 weeksNo LimitN/A
VermontNoN/AN/AN/AN/A18% per year
VirginiaHeavily Regulated687.76%$500Min: 2 pay periods$26.38N/A
WashingtonHeavily Regulated390%$700 or 30% of gross monthly income, whichever is lessMax: 45 days$15N/A
West VirginiaNoN/AN/AN/AN/A31% per year on a loan of $2,000 or less
WisconsinYesNo LimitLesser of either $1,500 including fees or 35% gross monthly income90 days or less$30N/A
WyomingYes780%Not Specified1 calendar monthNo LimitN/A
Washington DCNoN/AN/AN/AN/A24% per year

Last thoughts

Payday loans are a terrible idea. They charge exorbitant interest rates, and they target people who can least afford them. If you do get a payday loan, pay it back right away and then evaluate your budget and income so that you never have to resort to a payday loan again. 

Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.