Instant payday loans are taken out by consumers who are in between paydays to help supplement their income, and they are generally repaid on their next payday. Instant payday loans are very useful when you are in financial trouble and are looking for a little assistance in managing your day to day expenses. Instant payday loans are relatively small loans ranging from $100 to $1500 and they can be directly deposited into your bank account. An instant payday loan is usually a loan that you will pay back on your next payday, but there are online lenders available that have installment payment options to ease the stress of repaying the loan.