FAQ
The following table provides examples of the cost to obtain a payday loan or online cash advance. The APRs are based on example loan terms of one payment (“Check Amount”) due in 16, 14, and 7 days. The APR will increase if the actual loan term is shorter than these examples.
| LOAN AMOUNT (Amount Financed) |
LOAN TERM: 1 PAYMENT (# of Days) |
LOAN FEE (Finance Charge) |
CHECK AMOUNT (Total of Payments) |
APR |
| $100.00 | 16 | $25.00 | $125.00 | 506.94% |
| $100.00 | 14 | $25.00 | $125.00 | 651.79% |
| $100.00 | 7 | $25.00 | $125.00 | 1303.57% |
| $200.00 | 16 | $50.00 | $250.00 | 506.94% |
| $200.00 | 14 | $50.00 | $250.00 | 651.79% |
| $200.00 | 7 | $50.00 | $250.00 | 1303.57% |
| $300.00 | 16 | $75.00 | $375.00 | 506.94% |
| $300.00 | 14 | $75.00 | $375.00 | 651.79% |
| $300.00 | 7 | $75.00 | $375.00 | 1303.57% |
1. Question: How do I get a payday loan?
Answer: The process for receiving a payday loan is very simple. Complete this application and request cash now.
60 Minute Payday is a matching service that will use your application to help to introduce you to short-term cash lenders. While our company is not a lender and does not lend money, we do the legwork of trying to identify a lender that wants to work with you.
After completing an application at www.60MinutePayday.com we will do our best to help introduce you to a lender. If approved, a lender will make an offer to you within minutes of you completing an application on our site. If you accept their terms, they will deposit money directly into your account (in many cases the money can be in your account in under 1 hour).
2. Question: What’s needed to qualify for a payday loan?
Answer: Get an approval decision quickly when you complete our online form. In general, to qualify for a short-term loan, consumers must have regular income and an open bank checking account in good standing with an ability to accept direct deposits. Most lenders require that the borrower be at least 18 years old.
Initial pre-approval from 60 Minute Payday does not guarantee a loan, but does mean that you have completed the initial, basic application that lenders will review to make a decision on your loan.
3. Question: What is a payday loan?
Answer: A payday loan is a short-term personal loan available to people who are employed with regularly scheduled pay periods. Credit checks are usually not required to receive a payday loan or cash advance.
4. How Long Will it Take to Get My Money?
Answer: Deposit time will vary depending on your personal eligibility for a cash advance loan. In many cases, if a loan approval has been issued, money can be deposited as fast as 1 hour.
5. Question: What if I have bad credit?
Answer: Unlike traditional bank loans, payday loans do not require a credit check to borrow money. Less-than-perfect credit does not disqualify you from applying for a payday loan.
6. Question: Can I give my information over the telephone to an operator, rather than using the online application?
Answer: Yes, however we recommend that you complete your application online as the process is 100% secure and does not require any faxing. If you do not wish to complete your application online please call 1-877-60-PAYDAY (1-877-607-2932) during normal business hours to apply by telephone.
7. Question: Is it safe to apply on this site?
Answer: Yes, our site is safe and secure. You can feel confident entering your personal details knowing that we will respect your privacy. You can read our privacy policy for more information.
8. Question: How much will a loan cost? What are the rates?
Rate and repayment information is based on your personal eligibility for a loan and varies per customer. Rate and repayment information will be available to you if you are approved by a lender. No loan will be issued unless you accept the rate and repayment terms you are presented upon completion of your application.
9. Question: Where do I find my ABA / Routing Number & account number?
Answer: Reference the image below, or call your bank for more information.
10. Question: How much will a loan cost? What are the rates?
Answer: Rate and repayment information is based on your personal eligibility for a loan and varies per customer. Rate and repayment information will be available to you if you are approved by a lender. No loan will be issued unless you accept the rate and repayment terms you are presented upon completion of your application.
However a representative APR example is as follows: Rates vary by state, applicant information and lenders. An example loan of a $100.00 for 14 days could cost $25.00 in fees with an APR of 651.79%. The total amount to payback could be $125.00.