Emergencies can happen in your life anytime. Instant Payday Loans can be of great help at these times of emergencies. What are these Instant Payday Loans? As the name suggests, these are short term and fast loans which anyone can apply to meet their urgent needs. There are certain eligibility criteria which determines who gets the loan and who doesn’t. Here are some of the most common criteria which most of the loan providers put forward. First of all, you have to be a citizen of the country and have to be 18 years or older. Secondly, and the most important factor, is a constant and stable source of income. You need to have a source of income which earns you at least $1000 or more per month. If you do not have one, you are not eligible to get an Instant Payday Loan. Having a bank account also is essential as the loan provider will be depositing the amount directly to your bank account.