How to Get a Large Payday Loan With a Low APR

(May 2024)

How to Get a Large Payday Loan With a Low APR

In This Article

Stuck with an unexpected medical bill? Struggling to pay for urgent home repairs? Need a large payday loan, but worried about the often triple-digit interest rates?

Do you want to get a large payday loan with a low APR?

If your answer is yes to all of these questions, you’re in the right place!

Don’t fret if you’re having trouble finding a payday loan with a manageable APR. This article shows you how to take care of your large expenses in an affordable way.

To get a large payday loan with a low APR:

  • Check Your Credit Score
  • Compare Lenders
  • Make Sure You Have Verifiable Income
  • See if You Prequalify
  • Apply for the Loan
  • Secure Your Funds

Also, make sure to:

  • Repay on Time
  • Save for Future Emergencies

Excited? Let’s dive in!

1. Check Your Credit Score

To get a huge payday loan with a low APR, check your credit score first. 

Who knows? Maybe you have a decent FICO score you can use to apply for an emergency loan at your bank or credit union. This option is much cheaper than applying for a payday loan from alternative lenders.

Keep in mind that many payday loan lenders don’t check your credit score when you apply. They want to know if you can repay the loan.

However, some lenders do review your credit standing. If your FICO score is poor, the lender gives you a higher APR. So know where you stand, credit-wise.

Check your credit scores via your bank, loan or existing credit card statements. You can also create a myEquifax account online to view your VantageScore® 3.0 credit score for free.

Have a low FICO score? Take steps to raise it. For example, pay your bills on time and stay under your credit card limit.

2. Compare Lenders

To obtain a large payday loan without a triple-digit APR, compare lenders. Research online lenders to get through the application process faster.

Before researching, decide how much money you need to borrow.

While you compare lenders, focus on the loan’s overall cost—not just the lender’s APR. Know your budget for repaying the loan’s principal plus interest. If you don’t have enough money in your bank account when it’s time to repay the loan, you end up paying a “nonsufficient funds” charge.

Check out these reputable payday loan networks:

Request up to $10,000 with an APR between 5.99% and 35.99%.

Secure up to $10,000 with an APR ranging from 5.99% to 35.99%.

Request up to $35,000 with an APR between 5.99% and 35.99%.

Keep in mind that payday loans aren’t legal in every state. Check the fine print at the bottom of the lender’s website to see if they do business where you live. You can also contact your state attorney general’s office for more information.

3. Make Sure You Have Verifiable Income

To get a massive payday loan with a decent APR, make sure you have verifiable income.

“Income” doesn’t necessarily mean your paycheck from a 9-to-5 job. As long as you’re making money from a legitimate occupation—full time, part time, temporary, etc.—you’re good to go.

Payday lenders focus primarily on your level of income and want to ascertain that you can repay the loan.

4. See if You Prequalify

To snag a large payday loan with an affordable APR, see if you prequalify.

To prequalify, you must be at least 18 years old, live in the U.S. and have verifiable income. Some lenders require a minimum income level for approval—for example, over $1,000 per month after taxes.

Complete the lender’s loan request form by providing details like your:

  • Social Security number
  • Email address and phone number
  • Active checking account details

Remember, the lender doesn’t automatically approve the loan when you prequalify. You simply get a snapshot of your chances at getting the loan.

5. Apply for the Loan

To get a high payday loan with a manageable APR, apply online, by phone or in person. Complete the application online to get a decision within minutes.

Give your personal and financial details, including your:

  • Name and address
  • U.S. citizenship or proof of permanent residency
  • Employer information
  • Monthly income and tax information

When you apply, some lenders do a hard pull on your credit. This affects your credit score. However, most lenders pay more attention to whether you can repay your debt on time.

Review the loan’s amount, interest rate and fees before you sign the contract.

6. Secure Your Funds

To get a large payday loan with low interest rates, secure your funds after the lender approves your application. You get your funds as cash, a direct deposit or a check within a few hours or business days.

Now you have your payday loan funds. However, don’t forget the following steps:

Repay on Time

Repay your loan on time.

Some lenders let you repay over a few months, but many lenders require that you repay as quickly as within 14 days. You repay the loan’s principal and interest as a lump sum.

Can’t pay on time? Sometimes you can “roll” the debt over and repay at a later date. However, you pay extra charges like rollover fees. You also hurt your credit score.

Save for Future Emergencies

If you’re not saving for future unexpected costs, now is a good time to start. You don’t want to risk getting into debt every time an emergency arises.

Even if funds are tight, save a little money each month to build your emergency fund. Contact your financial institution and open an additional savings account to use specifically for emergencies.


To get a large payday loan with a low APR, check your credit score first. Then, research and compare lenders. Check that you have verifiable income before you prequalify. Once you apply for the loan, receive your funds within a few hours or days.

Make sure to repay your loan on time and save for future emergencies so you avoid trapping yourself in a cycle of debt.

With these steps, you can navigate your financial emergency in an affordable and stress-free way!

Related Articles

Become a

S'witty Kiwi Credit Insider!

Get the latest credit tips and hacks in your inbox!