Applying for Payday Loans? Here Are 6 Basic Personal Requirements


When you’re running out of cash, and there’s still a few more days before payday, taking out a payday loan might be an option for your important and urgent needs. Payday loans are short-term, fast-application, cash advances that fill in the dead air left before it’s payday again! They are mostly and ideally availed for emergencies and urgent cash demand purposes. Repayment would be coming from the next payday. These loans are made specially for high-priority needs in times of financial shortage, unexpected or not.

If you are planning to apply for a payday loan, you must be well-aware that there are requirements before your request can be approved. Actually, there aren’t so many, however, keep them in mind because they will be vital for your first application attempt and because many overlook and fail to have their request granted due to failure of complying to these requirements.

Here is a list of 6 important personal requirements that payday loan lenders ask for from borrowers to determine the consideration of application.



You need to let the lender know that you are in real need of cash at the moment and not some sort of deceitful scammer. Provide important personal information only for the lender to recognize you and your application. They must be verifiable. Government-issued identification cards with a photograph of yourself are preferred by lenders since they are surely and legally accredited. Your social security number is needed.



Payday loan lenders might have or not have age requirements for people they are accepting applications from, depending on the state regulations. For the United States, you must be at least 18 years of age. In Singapore, 21 must be the minimum age. In Australia, you must be over 18 years old. Sometimes though, some lenders require a different age limit based on other conditions mentioned in their regulations and the state’s.



Aside from cards to identify you, an operational phone number that you own and the address where you are living at must be entailed. Also, you will be contacted through SMS or a phone call to confirm some information and to respond to questions.



If the transaction is online, you might not be required of an email address, but some do ask for it so that they have other ways to reach you if other details are unreachable or if email is the only means they can tell you something. Some might also use it to send you updates regarding their services even after your transaction with them. Meanwhile, your working and used email address is surely asked for when it’s an online transaction since it is one of the main means to connect with each other.



Most lenders ask details of your active bank account allowing direct deposits. This is to work on both the receipt of the processed amount and your repayment. Payday loans are unsecured loans. A tangible collateral is not required to get a payday loan. Only a check or an automatic deposit permission form serves as a backup in case you, the borrower, don’t give the repayment on the exact due date. Having your bank account details, the lender can withdraw.

Just like a bank account, you might also be required of a union credit account or prepaid card before your application gets processed. Although it is termed as “unsecured”, a good payday loan lender still has established operations to confirm and validate account information you provide. Through those measures, threats due to identity theft are avoided and wiped out. Your personal and financial information are given attention to as well.



A payday loan, as its name hints, is directly linked to “payday”, and you can’t have a payday without a job or a source of income. To apply and to qualify, you must be employed and/or earning money. A proof that you have a stable source of income is required. It could be a job you work for or a business you yourself own and handle. Your proof of income will be the only assurance of lenders that you can and you will pay back what you borrowed.

Lenders need contact information of your employer as well to authenticate your employment and the validity and truth of details you provide. For your own business on the other hand, the approximate amount of what your gain from it should be disclosed by you. Common payday loan lenders accommodate those who have been employed for at least a month.

A copy of your paycheck might be asked from you. The lender needs to be informed about your income because the amount that will be lent will vary depending on how they perceive your ability to repay [in relation also to your expenses]. That determines the qualification of your request.




There you have them! 6 basic personally required from you as you apply for a payday loan. It is very necessary that you meet all of them so that you’ll have a bigger chance to borrow. Before anything else, before giving them out to the lender you’re planning to applying a payday loan for, make sure that the lender is legit and trustworthy. You’ll know through their accreditation, client feedback and many others which you can look up on the Internet or find out by yourself.

Make sure you take care of what is required of you before you apply for a payday loan. After all is set, you can now hand them out all these requirements and everything else you have to fill out for you to have a smooth and safe payday loan application.


Nicole Ann Pore is a daytime writer for Quick Cash Loans, an Australian company that provides cash loans and payday loans lending services. She writes well-researched pieces about loans to help those who need assistance and pieces of advice in times of financial difficulties. 


Nicole Ann Pore is a writer, an events host and a voice over artist. She is also interested in film critiquing and filmmaking. Nicole graduated Cum Laude from De La Salle University Manila, Philippines with a Bachelor’s Degree in Communication Arts.


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