Get payday loans online net reviews

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Online loans are a convenient and fast option for borrowing money. Online personal loans typically have annual percentage rates between 6% and 36%, and amounts range from $1,000 to $100,000.

A key benefit of online loans is the ability to pre-qualify and see personalized rates before applying. Look for lenders that offer perks like rate discounts, flexible payment options and free access to credit scores.

Here is how online lenders compare, the pros and cons of online personal loans, and how to apply for one.

Discover: Best online loans for excellent credit.
SoFi: Best online loans overall.
Best Egg: Best online loans for good credit.
Happy Money: Best online loans for credit card consolidation.
Upstart: Best online loans for fair credit.
Upgrade: Best online loans for bad credit.
LendingPoint: Best online loans for same-day funding.

Need a personal loan? SoFi makes it easier

SoFi offers prime borrowers competitive rates, no fees and rate discounts. Its perks include fast funding, a wide range of loan amounts, plus financial advice.

“

The quickest and most painless loan I have ever gotten. If only real estate transactions were this easy! The entire process from start to finish took less than an hour.Edison Gore

Easy online application, corelated information fed to the software making the online application simple, comprehensive and short.The response was fast and I got the loan I applied for the next morning.John Hamzawsky

Quick and professional services fastest I've ever used to fill out loan paperwork and get it processed it only took a few minutes.Michael Jordan

Best Online Loans in 2023

Lender

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NerdWallet Rating

▾

Est. APR

▾

Loan amount

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Min. credit score

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Learn more

Upstart

Go To Lender Siteon Upstart's website

on Upstart's website

Check Rateon NerdWallet

on NerdWallet

4.5

Best for Online loans for fair credit

6.40-35.99%

$1,000-$50,000

None

Go To Lender Siteon Upstart's website

on Upstart's website

Check Rateon NerdWallet

on NerdWallet

SoFi Personal Loan

Go To Lender Siteon SoFi's website

on SoFi's website

Check Rateon NerdWallet

on NerdWallet

🏆 Top 3 most visited

5.0

Best for Online loans overall

Rate discount

8.99-25.81%

$5,000-$100,000

None

Go To Lender Siteon SoFi's website

on SoFi's website

Check Rateon NerdWallet

on NerdWallet

Upgrade

Go To Lender Siteon Upgrade's website

on Upgrade's website

Check Rateon NerdWallet

on NerdWallet

5.0

Best for Online loans for bad credit

8.49-35.99%

$1,000-$50,000

560

Go To Lender Siteon Upgrade's website

on Upgrade's website

Check Rateon NerdWallet

on NerdWallet

Discover® Personal Loans

Go To Lender Siteon Discover's website

on Discover's website

Check Rateon NerdWallet

on NerdWallet

5.0

Best for Online loans for excellent credit

7.99-24.99%

$2,500-$40,000

660

Go To Lender Siteon Discover's website

on Discover's website

Check Rateon NerdWallet

on NerdWallet

Best Egg

Go To Lender Siteon Best Egg's website

on Best Egg's website

Check Rateon NerdWallet

on NerdWallet

4.5

Best for Online loans for good credit

8.99-35.99%

$2,000-$50,000

600

Go To Lender Siteon Best Egg's website

on Best Egg's website

Check Rateon NerdWallet

on NerdWallet

Happy Money

Go To Lender Siteon Happy Money's website

on Happy Money's website

Check Rateon NerdWallet

on NerdWallet

4.5

Best for Online loans for credit card consolidation

11.72-24.67%

$5,000-$40,000

640

Go To Lender Siteon Happy Money's website

on Happy Money's website

Check Rateon NerdWallet

on NerdWallet

LendingPoint

Go To Lender Siteon LendingPoint's website

on LendingPoint's website

Check Rateon NerdWallet

on NerdWallet

4.5

Best for Online loans for same-day funding

7.99-35.99%

$2,000-$36,500

660

Go To Lender Siteon LendingPoint's website

on LendingPoint's website

Check Rateon NerdWallet

on NerdWallet

LendingClub

Check Rateon NerdWallet

on NerdWallet

4.5

Best for Online loans for joint loans

9.57-35.99%

$1,000-$40,000

600

Loan amount

$1,000-$40,000

What is an online loan?

With online personal loans, the entire loan process — from pre-qualification to signing — happens online. These loans are typically unsecured, and your credit score, income and debt heavily determine whether you qualify. Approved borrowers receive loan funds in a lump sum and pay back the loan in fixed monthly installments over the loan term, typically two to seven years.

Online loans can be used for almost any purpose, including emergencies, home repairs or debt consolidation. Loans are available for borrowers across the credit spectrum, but interest rates may be higher for borrowers with lower credit scores. Financial experts recommend an annual percentage rate below 36% for a loan to be affordable to a borrower.

Some online lenders offer features like flexible payment dates, an option to refinance an existing personal loan or the ability to add a co-borrower. Consider and compare loan features when shopping for an online loan.

Pros and cons of online loans

It’s a good idea to weigh the pros and cons when deciding whether to go with an online lender versus an in-person lender like a bank or credit union. Certain features may vary from lender to lender, but here is generally what you can expect with online loans:

Pros

Convenience: You can complete the entire loan process from your computer or, in some cases, your phone. The best online lenders also have mobile apps you can use to manage your loan during the repayment term.
No-risk estimates: Most online lenders let you pre-qualify within a few minutes and preview estimated rates without impacting your credit score. (All lenders require a hard credit check before you finalize a loan.)
Quick and simple shopping: Since each online lender uses its own underwriting formula, the rates can differ between lenders. Comparison websites allow borrowers to fill out one application to see loan offers from multiple lenders. This is easier than banks or credit unions that may only service loans in person or require you to visit a branch during the application process.
Debt help: With some online lenders, borrowers can opt to have the loan money sent directly to creditors with a debt consolidation loan, removing the burden of paying off individual credit cards.

Cons

More expensive than credit unions and some banks: On average, loans from online lenders are not as cheap as those from credit unions. And if you already have a relationship with a bank, it may offer you lower rates than online lenders. Compare rates from multiple lenders online and offline before you take out an online loan.
No face time: Some online lenders have physical locations, but many only service loans digitally. This can be a challenge if you ever want to speak to a representative face-to-face.
Smallest loans not available: Online loans under $500 may be hard to find at rates below 36%. Many online lenders have loan minimums from $1,000 to $2,000. Some credit unions may be able to provide smaller loans starting at $250.
Predators lurk: Reputable online lenders compete alongside predatory online lenders. Reputable lenders check your credit and ability to repay, and they usually have APRs that top out at 36%. Predatory lenders typically don’t check credit, but you pay for the added risk with APRs well above 100%.

Online loans pros

Online loans cons

Fast and convenient application process.
Most online lenders let you pre-qualify to preview estimated rates.
Easy to comparison shop between lenders.
Manage your loan online.
Rates may be higher than rates from credit unions and some banks.
The smallest loans, below $500, may not be available.
No in-person customer service.
Can be hard to distinguish reputable lenders from predatory online lenders.

How to apply for a personal loan online

Calculate your loan payments. Use a personal loan calculator to estimate monthly payments on personal loans with different rates and loan terms. A longer term will give you lower monthly payments, but also cost more in total interest.
Pre-qualify. Check rates with multiple online lenders and compare offers to find the lowest interest rate. The pre-qualification process involves a soft credit check, which doesn’t affect your credit score.
Select a lender and loan option. Pick the online loan with the rate, monthly payment, loan amount and term that best fits your budget and financial needs.
Collect loan documents. Upload the required documents, which may include a form of identification and proof of income such as a pay stub or W-2.
Complete the application and submit. Once you’ve read and understand the fine print of your loan, submit the application. Once approved, you may receive your loan within a day or two, depending on the lender.

Can I get a loan with bad credit?

Borrowers with bad credit (scores of 629 or lower) may qualify for a rate on the high end of a lender's range or be approved for a lower amount when compared to borrowers with good or excellent credit (scores above 690).

Some online lenders who offer loans to bad credit borrowers look beyond credit score when assessing a borrower’s application. They may consider factors like cash flow, employment and education history, which can help chances of approval.

There are ways bad-credit borrowers can strengthen an application for an online loan:

Joint loan. Add a co-signer or co-borrower to the loan application to boost your eligibility or get a lower rate or higher loan amount. This person is responsible for the loan amount and any fees if you fail to repay.
Secured loan. A secured loan requires putting up collateral, like your car or a savings account, to help guarantee the loan. However, you risk losing the collateral if you default on the loan.
Build your credit. If you don’t need the loan immediately, you can take steps to build your credit before applying.

No-credit-check and online payday loans

Payday loans and no-credit-check loans don’t require credit checks and can seem like easy options for short-term cash needs. However, both of these types of loans can be predatory and expensive, with rates in the triple digits.

Online payday loans are a fast way to get loans for amounts less than $1,000, especially if you don’t have good credit. Payday lenders typically withdraw repayments directly from your bank account on the due date. These loans have APRs close to 400%, which can quickly lead borrowers to owe more in interest than the original loan.

No-credit-check loan amounts typically range from $100 to a few thousand dollars and are repaid in fixed amounts over several months.

Both no-credit-check and payday loans should be considered only as a last resort after you’ve exhausted alternatives to high-cost loans.

Last updated on December 1, 2023

Methodology

NerdWallet’s review process evaluates and rates personal loan products from more than 35 technology companies and financial institutions. We collect over 50 data points from each lender and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.

Is net payday advance legit?

Yes, Net Pay Advance is a legitimate business. Since 2007, Net Pay Advance has provided cash assistance through payday loans. Our company is licensed in Califonia, Kansas, Missouri, Texas, and Utah to provide payday loans online. Plus, we're accredited by the Better Business Bureau, where we have an A rating.

How do you know if a payday loan is legit?

Signs of Payday Loan Scams.

They request personal information or payment upfront. ... .

They insist on using wire transfers or prepaid cards instead of a traditional method for loan repayment. ... .

They refuse to provide information about the company. ... .

The lender reaches out to you unsolicited..

Is NetCredit a payday loan?

Both NetCredit and Fig are slightly lower-cost alternatives to payday loans, many of which have interest rates around 400%. However, you'll still pay a much higher interest rate with these three than you would with a traditional personal loan lender. Fig Loans and NetCredit both don't have credit score minimums.

Does Net Pay Advance report to credit bureaus?

Likewise, any other lender, even a home loan provider, wouldn't know about your payday loan application with Net Pay Advance. Soft credit checks are cool in that way. You have nothing to worry about. From start to finish, there's nothing reported to the credit bureaus that you took out a short-term payday loan.