Many people with average income, find them selves in lurch, when an unexpected financial need arises. Most of the time, we don’t have so much economic back up that we can tackle such an emergency. At this point, payday loans come to the rescue. These are the loans which one has to payback when one gets their salary. You don’t even have to rush from bank to bank for loan approval. All the processing is done online.Most of the time the process is fast and simple and loans are approved within a day or two. If you payback the loan before the payday, you don’t have to pay interest either.