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National Payday is an online payday loan company that has been in service since 2000. It offers loans of up to $1,000 in all 42 states where payday loans are allowed. This service, however, has some of the highest APRs we saw when reviewing payday loans. It does not offer extensions or rollovers, so you will want to make sure you pay off your entire loan in a timely fashion to avoid paying exorbitant amounts of interest.

This direct lender approves loans up to $1,000, but first-time lenders generally receive $100 to $400. This company provides loans at an APR between 560% and over 1,000%, or $25 per $100 borrowed, which is significantly higher than any other service on our lineup.

The service offers fast payday loans. When you complete your loan application, you get your approval within minutes. To apply, you need general personal information, a valid checking account and proof of employment, among other things. You are required to be employed and take home at least $1,000 after taxes monthly. Generally, you receive your money the next day, but you may even receive it the same day as you apply, depending on the time you submit your application and the approval process.

National Payday deposits your money directly into the checking account you provide. Your payments automatically withdraw from that account when they are due. The maximum term for a payday loan is 16 days, giving you time until your next paycheck to pay it off. This company does not offer extension or rollovers, but you can apply for another loan the same day you pay off your current loan.

The National Payday website is very basic and easy to navigate. Unfortunately, the APR disclosure table is not visible, despite text indicating it should be there. If you have questions, you can search the FAQs page, complete an online contact form or call customer service for assistance, but this company does not approve or deny loans over the phone.

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National Payday Summary:
7.2/10

National Payday is a direct lender that reviews and approves your loan in minutes, and you can have your cash deposited directly into your checking account as soon as the same day; however, in most cases you get your cash the following day. The loan fee is typical at $25 per $100 borrowed, but the interest rates on your loans may be over 1,000%, one of the most costly APRs relative to other payday loan companies.

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National Payday

Pros
You may be eligible to receive your cash deposit the same day you apply for your loan.

Cons
You could potentially pay an APR of over 1,000%.

The Verdict
: 7.23/10

While this company's fees are typical, the possible APR is much higher than those of other services we reviewed, making this a less appealing option than most other services.