Payday loan is a short term loan comprising of small amount but bearing high interest rate. It is also called cash advances loan because of its nature. There are many types of payday loans.

The first type is 30day Payday Advance Loan. The payday loan is usually has to return within 2 weeks. But in this type of loan the return period is extended to 30 days. Due to long time period the fee in this loan is relatively high than others.

The second type of payday loan is 1 Hour Payday Advance Loan. In this type when you get loan from the lender the lender gets possession of all the funds in your account till the return of debt. This loan also bears higher fees because there is chances that lender may not be on the safe side.

The third type is No Credit Check Payday Advance Loan. Before lending the loan, lenders always check the credit score and previous credit history of the borrowers. But in this type of loan nothing is checked. Borrower merely has to given employment card to prove his or her employment.

The fourth type is Bad Credit Payday Advance Loan. This loan is given to borrowers even there credit score is not so good. It does not rely on the credit scores.

The more popular type nowadays is online cash advances. In this type all the process of borrowing is done online and virtually.

Another type is Instant Payday Loan. This quick payday loans are approved within hours.