Personal loans can help pay for emergency expenses such as medical care or home repairs. See if you pre-qualify for emergency loans, and compare loan offers with borrowing alternatives.
Checking rates is free and won't impact your credit score.
Best for good- or excellent-credit borrowers
2025 NerdWallet award winner
7.99 - 24.99%
$2.5K - $40K
660
3 to 7 years
Best for joint emergency loans
2025 NerdWallet award winner
7.90 - 35.99%
$1K - $60K
600
2 to 7 years
Best for small emergency loans
2025 NerdWallet award winner
7.74 - 35.99%
$1K - $50K
600
2 to 7 years
Best for low rates
2025 NerdWallet award winner
6.49 - 24.89%
$5K - $100K
660
2 to 7 years
Best for large emergency loans
2025 NerdWallet award winner
8.74 - 35.49%
$5K - $100K
None
2 to 7 years
Best for bad- or fair-credit borrowers
6.70 - 35.99%
$1K - $75K
None
3 to 5 years
Best for same-day emergency loans
8.01 - 29.99%
$2K - $45K
640
3 to 5 years
Best for rate discounts
8.99 - 29.99%
$5K - $50K
640
2 to 5 years
Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.
30+
Lenders reviewed
We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.
25+
Categories assessed
Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.
60+
Data points analyzed
Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
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Emergency loans are personal loans used to cover urgent, unexpected and necessary expenses.
To curate this list of the best emergency loans, we considered factors such as funding time, loan size, eligibility requirements and affordability. All the lenders on this list can fund a loan the day after approval or sooner, which is important when you’re dealing with an emergency.
Here are additional reasons why these lenders made our list.
With a minimum credit score requirement of 660, Discover is fitting for borrowers with good or excellent credit. The lender told NerdWallet its average borrower has a credit score around 750.
LendingClub offers joint personal loans, so you and a co-borrower can get an emergency loan together. This can be useful if you need money for a shared expense — for example, car repairs for a vehicle you co-own with your significant other.
Upgrade provides loans as low as $1,000, which can be suitable for small borrowing needs. Other lenders have minimum loan amounts of $2,000 or $5,000.
LightStream has one of the lowest starting annual percentage rates of the lenders NerdWallet reviews. The lender says it will provide a lower rate than a competitor’s offer with the same loan terms.
SoFi offers loan amounts up to $100,000, which is higher than most personal loan lenders. This lender may be a good choice if you need to borrow a large sum of money.
Upstart considers loan applicants from across the credit spectrum, including those with less-than-ideal credit. The lender uses an underwriting model that factors in thousands of data points rather than relying heavily on credit scores.
Rocket Loans can fund a loan the same day it approves the application as long as the applicant signs the loan documents by 4 p.m. ET on a business day. Fast funding is a crucial factor for an emergency loan.
Achieve offers three rate discounts to help borrowers save money over the life of their loan. Borrowers can get rate discounts for applying with a co-borrower or having sufficient savings in a retirement account. Borrowers who use the loan to consolidate debt can get a rate discount for having Achieve send funds directly to their creditors.
You can use a personal loan for a wide variety of reasons. Some examples of emergencies you can pay for with a personal loan include:
Some lenders prohibit borrowers from using a personal loan for education or business expenses. Check with the lender before signing your loan agreement if you plan to use the money for those reasons.
» MORE: How to get a quick loan
Credit scores are often a big factor in loan approval decisions. However, having bad credit (a score in the high 500s or lower) doesn’t automatically disqualify you from getting a loan.
Here are a few tips to get an emergency loan with bad credit.
A co-signer or co-borrower can help your chances of qualifying or getting a good rate. That’s because lenders see loans as less risky when there’s another individual who’s also responsible for making payments.
When you add a co-signer to your loan, that person is essentially vouching for your ability to repay the loan. The co-signer is on the hook for making payments if you don’t.
When you apply with a co-borrower, you’re sharing the funds and payment responsibilities with the other individual.
Approval time can be longer when you apply with a co-signer or co-borrower, since the lender has to evaluate both people’s qualifications.
Some lenders let borrowers secure a personal loan with collateral (usually a bank account or vehicle).
Adding collateral can improve your chances of qualifying, but approval time can be longer. Also, the lender can take the collateral if you miss too many payments.
Your monthly income is another important factor on a loan application. Most lenders want to see that you have enough to cover regular expenses, make the new loan payment and have a little left over.
Include all income sources on your application for a better chance of qualifying. Many lenders consider income from Social Security benefits, alimony or child support — not just wages or salary from employment.
» MORE: NerdWallet's picks for best bad-credit loans
When you need money quickly in an emergency, it can be tempting to turn to high-interest loans, such as pawn, car title and payday loans. These emergency loans can be fast and easy to get because lenders aren’t typically checking your credit.
However, these no-credit-check loans are often more expensive than personal loans and could lead to long-term financial damage. They should be considered as a last resort after you’ve exhausted all other options.
Pawn loans require you to hand over a valuable item to a pawnshop as collateral for a small loan. You have to repay the loan, with interest, within a few months, or the pawnshop will keep your item. APRs can reach above 100%.
With car title loans, a lender assesses the value of your vehicle, lends you a percentage of that amount and takes possession of your car title. The lender may charge APRs around 300% and offer repayment terms of 15 to 30 days. If you don’t repay the loan, the lender can take your car.
Payday loans are short-term loans with fees that can equate to APRs of 400% or more. Borrowers who aren’t prepared to repay the loan on their next payday often borrow again, causing them to slip into a cycle of debt.
Nerdy Tip
Beware of predatory lenders that may take advantage of people’s need to borrow money in an emergency. Avoid a personal loan scam by checking the lender’s license, reviewing customer reviews and reading all the fine print before signing anything. A reputable lender won’t ask you to pay fees upfront or send a gift card.
Even when you’re trying to get money quickly, it’s important to explore all your options for borrowing. Alternatives to personal loans could be cheaper — though they may not be as fast or convenient and could require asking for help.
Here are some possible alternatives to an emergency loan.
Best for: Help meeting basic needs.
Community organizations such as charities, food banks and free loan associations could help you with home repairs, groceries, transportation to job interviews and other basic necessities.
Contact 211 to get connected to nonprofits and financial assistance programs in your area.
Best for: A no-credit-check loan that may not include interest.
Though it may be uncomfortable to ask, borrowing from someone you trust may be the most affordable and safest option. A loan from a friend or family member probably won’t require a credit check.
You can draw up a loan agreement that includes when and how the money will be repaid as well as any interest the lender chooses to charge.
» MORE: How to borrow from and lend to family
Best for: Paying off medical debt at a low cost.
When you get a high medical bill, start with your free options: Set up a payment plan with your provider and negotiate the costs on your own.
If you still need help, you could get a low-cost medical credit card or find a reputable medical bill advocate to negotiate on your behalf.
» MORE: How to pay down medical debt
Best for: Fast cash if you’re able to meet other financial obligations.
If you need money for a one-time emergency like a car repair or vet bill, try asking your employer for an advance on part or all of your paycheck. You can also use a cash advance app with low mandatory fees.
These options effectively let you access your own money early, rather than providing additional cash that you repay over time. Be sure you can meet all your other monthly financial obligations with a rearranged pay schedule.
Best for: A large purchase that you want to repay over time.
“Buy now, pay later” apps can help you make a big purchase, such as a mattress or laptop, and pay for it over time (typically four biweekly payments). This option is offered at many major retailers.
Make one purchase with BNPL at a time, and pay it off in full before making another. Making multiple BNPL purchases in a short period can lead to overspending.
If you’ve considered your options and have decided to move forward with a personal loan, NerdWallet can help you pre-qualify with multiple lenders. You’ll just answer a few questions, and you can get personalized loan offers within minutes.
Pre-qualifying does not affect your credit score.
You can use a personal loan to pay for unexpected expenses if you don't have savings or don't want to max out a credit card. In an emergency, personal loans can be a fast and convenient source of funding for borrowers who qualify.
Yes, it may be possible to qualify for a loan with low income. Some lenders care more that you have steady income or a low debt-to-income ratio rather than a specific amount. Learn what it takes to get a loan with low income.
