What is a payday loan?
A payday loan is a cash boost which will help you make it through to payday when you have run out of money. Payday loans are high-interest and are only effective if used on occasion and for the short term. If you intend to apply for a payday, it is imperative that you can afford to make the repayments.
An instant payday loan is when you have an unexpected or emergency expense, and you need a loan fast, so you don’t go into an unauthorised overdraft. If you are looking for an instant payday loan because you want an immediate payout, Quick Loans Express offer an instant decision with a 1-hour payout on most loans if approved.
What does an instant loan mean?
Most people think that an instant loan means you will receive your payday loan instantly after submitting your application. However, an instant loan rarely means that. The delay in funding is due to the approval period that FCA regulated and authorised lender must perform. For most applications, the approval period can take only 90 seconds and the funding on the same day. However, occasionally applications are put under review and underwriters have to get in touch before making a loan decision.