It’s possible to get a loan and have the funds in hand the same day you apply — under certain circumstances. Some online lenders offer same-day loans, and you may even be able check your rates without impacting your credit scores by applying for prequalification.
Benefits of instant payday loans? Payday loans are a blessing during emergencies because: They have relatively hassle-free and fast approval time. Unlike low-interest personal loans from a traditional bank, which take a long time to be approved, these loans are approved almost immediately.