Can You Borrow Money Online Instantly?

You can borrow money online very quickly depending on the type of loan you choose. Getting your cash fast is possible, but you’ll want to make sure you’re dealing with a trustworthy lender. The most common quick cash loans online would be personal installment loans, payday loans, and cash advances. Some of these options, like title loans, can be very expensive and risky. So make sure you do plenty of research before choosing your loan and lender. 

Common Types of Fast Cash Loans 

If you’re in the market for a cash loan in a hurry, then you need to familiarize yourself with all the options available to you. Read on to learn just a little bit about the most popular options when you need an instant cash loan. 

Personal Installment Loan

This is an unsecured personal loan that offers quick cash and allows borrowers to repay over the course of several months in most cases. Payments are made on a monthly basis so borrower’s can spread out their payments over time. 

These loans tend to carry lower interest rates than payday options, and you’ll have longer to repay them. The best part is that you won’t need to have a perfect credit score to be approved. Plenty of online lenders offer these, and typically they will deposit your money directly into your checking account. 

CreditNinja’s poor credit installment loans usually show up in one business day once you’re approved. 

Payday Loan

These are unsecured personal loans that require the borrower to repay the principal and interest by their next payday. Typically, you’ll need to return the loan and interest within two weeks. 

Because these loans come with such high interest rates and fees, it can be very difficult to repay on time for many customers. And if you can’t repay on time, the lender will likely add more fees and interest. Many payday lenders won’t even perform a credit check before offering a loan agreement. This is a red flag that the lender may not be trustworthy. 

Auto Title Loan

These are secured, bad credit loans that require the borrower to offer collateral to the lender. The collateral would be your vehicle title in this case. The lender likely won’t care too much about your credit score because if you can’t repay, they can keep your vehicle. 

This is a risky instant cash option if you need your vehicle for important daily activities. 

Instant loans may be tempting, but make sure you know what you’re getting into before agreeing to a loan with any financial institution. Rushing into a cash advance loan, online payday loans, auto title loans, or any other emergency cash options could wreak havoc on your bank account for years to come if you’re not careful.