Shortage of fund in moments of crisis is a tension that often afflicts individuals and Payday Loan with a fixed regular income but with Same Day Payday Loans it is really possible to have more control over the situation and manage your unexpected expenses better. Most salaried people are extremely conscious about borrowing but in recent years hundreds and thousands of them have used to take care of their urgent financial requirements in between two pay dates and easy availability of these loans has also contributed to its popularity. The most important advantage of Paydayloan is your chance of getting the money deposited in your bank account the same day and that certainly allows you to feel relieved and confident in emergency situations. There is another very prominent plus point of pay day loans and that is as a borrower you are not required to put any sort of collateral against the money lender or the lending agency. Payday loans are Small Loans and you can avail up to $1000 with them without any kind of difficulty. Most of the time the borrower is required to pay back within a month at Same Day Payday Loans but on request the period can be extended too and most of the time you are only required to pay a nominal fee too the money lender. Apart from this, there is another thing that you are also required to consider about Same Day payday Loans and that is as there is no security involved in the whole process the levied interest rate on the borrowed amount is a bit high. But as the loans are actually available only for a short duration of time and only Small Loans are sanctioned, paying back the loan is not difficult at all and that certainly makes them dependable. Unlike other types of loans that allows you to use the loan amount for a particular purpose only there is no restriction of usage on a Paydayloan and you can always use them as per your requirements. Though they are available pretty easily still you are required to fulfill certain pre-requisites to fulfill them. Only a citizen of the country above the age of eighteen with a fixed monthly income is eligible for these loans and you must also be working with your current employer for a minimum period of six months. You must also have a valid bank account to which the Small Loans amount will be credited whence it is sanctioned.