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Pay day loans are the type of loans that are received or acquired quickly. Loans are the timely monetary support issued by financial institutions to fulfill people’s needs. People may face certain unpreventable situations where need of money is of primary importance. Though people can able to solve their financial needs with their monthly income there may be short comes in the middle of the month leaving him or her in monetary needs on urgent situations. Cash shortages are common to every one in this world and people choose their kind of financial support that provide them more flexible way of pay back. Loans such as cash advance loans are more common among people now a day due to the immediate funding of money without any delays. Availability of different variety of loans has eased the job of choosing the more appropriate funds from institutions. Pay day loans are re paid at the next financial statement of the customer who received the loan. A post dated cheque is usually used to repay the loan amount. Pay day loans are easier to acquire as the eligibility conditions laid by the financial institutions are more basic and thus any one can meet the terms and conditions more obviously.