Note:<\/strong> On top of checking the same day loan provider\u2019s funding time-frame, loan size capacity, and underlying interest rates \u2013 you also need to make sure that the platform is authorized and regulated by Financial Conduct Authority (FCA).<\/div><\/div>\nStep 2: Start the application process<\/h3>\n
![\"example](\"https:\/\/learnbonds.com\/uk\/wp-content\/uploads\/sites\/2\/2019\/11\/Screenshot-2019-11-14-at-08.51.30.png\")
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Once you have found a lender that meets your individual needs, you will then need to start the online application. In the vast majority of cases, you will need to get the ball rolling by entering the amount that you wish to borrow, and for how long, via the homepage. You\u2019ll then be taken the main application page.<\/p>\n
As is the case with all credit-based applications, you will now need to provide the lender with your personal information. This will include your full name, home address, date of birth, driver\u2019s license or passport number, telephone number, and email address. After that, you\u2019ll then need to enter some information about your income.<\/p>\n
Not only will this include your employment status, but also the amount of money that you bring home each month, and the frequency at which you receive your salary (for example the last day of the month). You will also need to provide details about the place that you work, such as the name of the company, the address, and your direct line manager.<\/p>\n
Step 4: Read the digital loan agreement and sign it<\/h3>\n
![\"Man](\"https:\/\/learnbonds.com\/uk\/wp-content\/uploads\/sites\/2\/2019\/11\/debt-consolidation.loan_.jpg\")
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Once you have entered your personal and financial information, the same day loan provider will then run its electronic checks. They do this by cross-referencing your data with third-party sources \u2013 including that of credit bureaus. The key point here is that because you require the loan funds on the same day, they will attempt to verify your information without asking for supporting documentation.<\/p>\n
As such, if you are in possession of a good credit score with the main three bureaus, then you stand the best chance possible of having your application approved instantly. Once a decision has been made (which usually takes no more than a couple of minutes), you will then be able to view your pre-approval rates. This covers the interest payable on the loan, as well as when you will be required to pay it back. If you\u2019re happy with the terms outlined in the loan agreement, sign it to complete the application.<\/p>\n
Step 5: Satisfy the verification checks<\/h3>\n
![\"sample](\"https:\/\/learnbonds.com\/uk\/wp-content\/uploads\/sites\/2\/2019\/11\/Screen-Shot-2017-10-14-at-11.41.03-PM.png\")
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If the lender was unable to verify your information automatically via its third-party sources, you\u2019ll likely need to provide supporting documentation. Don\u2019t worry, as this will usually consist of a recent payslip or bank account statement \u2013 which is hopefully something you have access to. Once you upload the document, the same day loan provider will manually verify it, before sending you the digital loan agreement to read and sign.<\/p>\n
Reviewer\u2019s choice of best same day loan providers<\/h2>\n\n
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![\"\"](\"https:\/\/learnbonds.com\/uk\/wp-content\/plugins\/in-content-provider\/Library\/assets\/images\/entypo_shield.svg\")
\n Reviewers Choice <\/div>\n
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Piggy Bank<\/div> <\/div>\n\n
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![\"\"](\"https:\/\/learnbonds.com\/uk\/wp-content\/uploads\/sites\/2\/2020\/02\/piggy-bank-loans.png\")
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Rating<\/div>\n
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Available Loan Amount<\/div>\n
\u00a3100 - \u00a31000<\/div>\n <\/div>\n
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Available Term Length<\/div>\n
7 days to 5 Months<\/div>\n <\/div>\n
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Representative APR<\/div>\n
1,255% up to 1698.1%<\/div>\n <\/div>\n
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\n Rating
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![\"Man](\"https:\/\/learnbonds.com\/uk\/wp-content\/uploads\/sites\/2\/2019\/11\/same-day-payday-loans-without-unnecessary-documentation-formalities-1-638.jpg\")
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