Payday loans are a very quick and convenient way for us to get our hands on some instant cash. Not everyone uses a credit card or has a great credit rating so a payday loan can be a good way to get some finance when a traditional means is unavailable to use.

The Payday Loan

A payday loan is unsecured borrowings that you must repay when your next payday falls due. These short term loans are charged at a greater interest rate than banks but there are a few different reasons for what is generally regarded as high fees.

• A payday loan is quick, easy and convenient with your application processed almost immediately and funds available to you within the hour in the majority of cases.
• A payday loan is for a short period of time so if a payday loan lender was going to charge you the same interest rates as a traditional lender would offer you for larger loans then it simply wouldn't be worth it financially to lend you money. The costs involved in approving and funding loan applications would outweigh the profits.
• Payday loans have a more liberal view towards the credit ratings of the borrower. You may not be able to have a loan approved through a traditional lender due to a default you may have had while a payday loan lender is more interested in your current working history.

Instant Cash Loans

These payday loans have become increasingly popular in recent times due to their convenience more than anything else. You can get an instant cash loan approved and have the funds credited directly into your account within an hour in most cases.

This quick access to cash has seen the short term lending industry boom in recent times. However, when applying for a quick cash advance loan through a payday lender you should make sure that you shop around for the best price.

There are many payday loan lenders that will offer you the facility to take out an instant cash advance but be sure to check the fees and charges on their payday loan product because the fees and charges do vary from lender to lender.

In fact, there are payday loan lenders online who have their own web site yet you canít find any mention of their fees and charges.

Instant cash loans can help you get out of a tight squeeze when faced with an unexpected expense that is going to be a financial burden until your next payday. If you are happy to pay the fees and charges to get you out of a bind then an instant payday cash loan is a convenient way to overcome any short term financial hardships you may encounter.

Please note that short term instant payday loans are not an answer to long term financial difficulties you may facing. If you find that you are applying for a payday loan so that you can tread water for an extra week before needing to borrow again and again, then you are better off looking at a traditional lending product such as a personal loan or credit card, which will be far cheaper in the long term.

Cash Doctors Payday Loans

You can apply for a payday loan online through one of Australia's leading payday loan lenders, Cash Doctors. The Cash Doctors team process instant payday loans within an hour with many satisfied customers receiving their funds within 30 minutes.

Cash Doctors give you the convenience of submitting your payday loan application form online making their payday loan a faxless or paperless loan. You get instant cash within an hour and you don't even have to send them any documentation.

Cash Doctors has been helping thousands of Australian's with payday loans and with over 100 offices around the country, Cash Doctors also caters for those who are skeptical about forwarding their private information over the internet.