BEST OF

Fast Personal Loans: Best Lenders for Quick Cash

Fast personal loans are one way to pay for emergencies and other short-term borrowing needs. Compare rates and terms and stick with reputable lenders.

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Fast cash loans can help pay for car repairs, unexpected medical bills or moving expenses. Online lenders are convenient and quick — some can provide same-day or next-day funding for qualified borrowers.

The personal loans listed here are from reputable online lenders that check your credit as part of the application process. Their rates don't exceed 36%, which is the maximum considered affordable by financial experts and consumer advocates.

Consider rates and terms — in addition to the time a lender takes to fund a loan — when you compare these options for fast cash personal loans from online lenders.

Summary of Fast Personal Loans: Best Lenders for Quick Cash

Our picks for

Same-day loans

Lightstream
Check rate

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Est. APR

4.49 - 20.49%

Loan Amount

$5,000 - $100,000

Min. Credit Score

660
Check rate

on LightStream's website


Min. Credit Score

660

Key facts

LightStream offers same-day funding if your application is approved before 2:30 p.m. ET on a business day.

Pros

  • No fees.

  • Competitive rates among online lenders.

  • Rate discount for autopay.

  • Special features including rate beat program and satisfaction guarantee.

Cons

  • No option to pre-qualify on its website.

  • Requires several years of credit history.

Qualifications

  • Minimum credit score: 660.

  • Several years of credit history; excellent-credit borrowers have at least five, according to LightStream.

  • Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

  • Strong payment history with few or no delinquencies.

  • Investments, retirement savings or other evidence of an ability to save money.

  • Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. AutoPay discount of .50% points is only available when selected prior to loan funding. Rates without AutoPay will be .50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 6.14% APR with a term of 3 years would result in 36 monthly payments of $304.85. Truist Bank is an Equal Housing Lender. ©2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

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OneMain
Check rate

on OneMain Financial's website

OneMain Financial

4.0

NerdWallet rating 
OneMain

Est. APR

18.00 - 35.99%

Loan Amount

$1,500 - $20,000

Min. Credit Score

None
Check rate

on OneMain Financial's website


Min. Credit Score

None

Key facts

OneMain Financial, an option for borrowers with poor credit, funds personal loans as soon as the same day if you complete an online application early in the day and visit a branch to receive your loan funds via check. Sending funds automatically to your bank account can take one to two business days.

Pros

  • Option to choose your payment date.

  • Offers joint and secured loans.

  • Able to fund a loan the same or next business day.

  • Offers online educational resources.

Cons

  • Rates are high compared to other online lenders.

  • Charges origination fee.

  • Does not offer direct payment to creditors on debt consolidation loans.

Qualifications

  • Minimum credit score: None.

  • Minimum income: Not disclosed; average is $45,000.

Available Term Lengths

2 to 5 years

Fees

  • Origination fee: $25 to $400 or 1 - 10%.

Disclaimer

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600. Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

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RocketLoans
See my rates

on NerdWallet's secure website

Rocket Loans

4.0

NerdWallet rating 
RocketLoans

Est. APR

7.16 - 29.99%

Loan Amount

$2,000 - $45,000

Min. Credit Score

640
See my rates

on NerdWallet's secure website


Min. Credit Score

640

Key facts

Rocket Loans requires you to complete your application and get approved before 1 p.m. ET.

Pros

  • Soft credit check with pre-qualification.

  • Competitive rates among fair-credit lenders.

  • Rate discount for autopay.

  • Able to fund loans the same day.

  • Offers small loans of $2,000.

Cons

  • Charges origination fee.

  • Does not offer direct payment to creditors with debt consolidation loans.

  • No option to choose or change your payment date.

  • Borrowers can choose from only two repayment term options.

  • No co-sign, joint or secured loan option.

Qualifications

  • Minimum credit score: 640; borrower average is 710.

  • Minimum credit history: Over two years.

  • Minimum annual income: $24,000; borrower average is $85,000.

  • Maximum debt-to-income ratio: 40% or 70% including mortgage; borrower average is 14%.

  • Must be at least 18 years old (19 in Alabama and Nebraska).

  • Must provide Social Security number.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 1% to 6%.

  • Late fee: $15 after 10-day grace period.

  • Unsuccessful payment fee: $15.

Disclaimer

All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state required disclosures, licenses, and lending restrictions. Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval. Offered loan terms depend upon your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Please refer to RocketLoans.com and our Terms of Use for additional terms and conditions.

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Our picks for

Fast loans funded by the next day

Upstart
Check rate

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Est. APR

6.95 - 35.99%

Loan Amount

$1,000 - $50,000

Min. Credit Score

580
Check rate

on Upstart's website


Min. Credit Score

580

Key facts

Upstart personal loans can be funded by the next business day if you accept the loan offer by 5 p.m. ET. (Loans used for education-related expenses require a three-day waiting period.)

Pros

  • Accepts borrowers new to credit.

  • Able to fund loans within one business day.

  • Offers direct payment to creditors with some debt consolidation loans.

Cons

  • Borrowers can choose from only two repayment term options.

  • Charges origination fee.

Qualifications

  • Minimum credit score: 580.

  • Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.

  • Minimum gross income: $12,000.

  • Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.

  • Must have U.S. residential street address where borrower resides (unless military personnel on active duty).

  • Must be at least 18 years old.

  • Valid email account required.

  • Personal bank account with U.S. routing number required.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 0% - 8%.

  • Late fee: 5% of past due amount or $15, whichever is greater.

Disclaimer

The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 24.4% and 36 monthly payments of $36 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

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FreedomPlus
Check rate

on FreedomPlus's website

FreedomPlus

4.0

NerdWallet rating 
FreedomPlus

Est. APR

7.99 - 29.99%

Loan Amount

$7,500 - $50,000

Min. Credit Score

620
Check rate

on FreedomPlus's website


Min. Credit Score

620

Key facts

FreedomPlus is best for debt consolidation, with low starting rates and direct payment to creditors.

Pros

  • Able to fund loans within two business days.

  • Option to change your payment date.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • Charges origination fee.

  • High minimum loan amount.

  • No option to include co-signer.

Qualifications

  • Minimum credit score: 620; borrower average is 700. The company uses the FICO 8 credit scoring model.

  • Minimum debt-to-income ratio: 45%, excluding mortgage.

  • Minimum credit history: 3 years.

  • Minimum number of accounts on credit history: 2.

  • No bankruptcy in the last 24 months.

Available Term Lengths

2 to 5 years

Fees

  • Origination fee: 1.99% - 4.99%.

  • Late fee: $15 or 5% of amount due, whichever is greater.

  • Unsuccessful payment fee: $15.

Disclaimer

The loan terms presented are not guaranteed and APRs presented are estimates only. To obtain a loan you must submit additional information and documentation and all loans are subject to credit review and our approval process. The range of APRs is 7.99% to 29.99% and your actual APR will depend upon factors including your credit score, usage and history, the requested loan amount, the stated loan purpose, and the term of the requested loan. To qualify for a 7.99% APR loan, a borrower will need excellent credit on a loan for an amount less than $12,000.00, and with a term equal to 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could help you also qualify for the lowest rate available. All loans are made by Cross River Bank and MetaBank®, N.A., Members FDIC.

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Discover
Check rate

on Discover's website

Discover® Personal Loans

5.0

NerdWallet rating 
Discover

Est. APR

6.99 - 24.99%

Loan Amount

$2,500 - $35,000

Min. Credit Score

720
Check rate

on Discover's website


Min. Credit Score

720

Key facts

Discover applicants can get funding the next business day, as long as you promptly provide the required documents and accept the loan terms.

Pros

  • No origination fee.

  • Offers direct payment to creditors.

  • Offers mobile app to manage loan.

  • Able to fund loans within one business day.

  • Wide variety of repayment term options.

Cons

  • Charges late fee.

  • No co-signed, joint or secured loan options.

  • No rate discount for autopay.

Qualifications

  • Minimum credit score: 720; borrower average is 750.


  • Must be a U.S. citizen or permanent resident.

  • Must be at least 18 years old.

  • Must have a minimum household income of $40,000.

Available Term Lengths

3 to 7 years

Fees

  • Origination fee: None.

  • Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 6.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

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LendingPoint
Check rate

on LendingPoint's website

LendingPoint

3.5

NerdWallet rating 
LendingPoint

Est. APR

15.49 - 35.49%

Loan Amount

$2,000 - $25,000

Min. Credit Score

600
Check rate

on LendingPoint's website


Min. Credit Score

600

Key facts

LendingPoint accepts low credit scores and has flexible payments. Rates are high but comparable to competitors.

Pros

  • Soft credit check with pre-qualification.

  • Option to change your payment date.

  • Can fund a loan the business day after approval.

Cons

  • No co-signed or joint loan option.

  • Rates are high compared to other bad-credit and online lenders.

  • Reports payments to two of the three major credit bureaus.

Qualifications

  • Minimum credit score of 600; borrowers’ average is 670. LendingPoint uses the FICO 9 credit scoring model.

  • At least $20,000 in annual income; average customer earns $85,000.

  • Debt-to-income ratio of less than 40%; average customer is 15%.

Available Term Lengths

2 to 4 years

Fees

  • Origination fee: 0% - 6%.

  • Late fee: $30 after 15-day grace period.

Disclaimer

Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint's final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 15.49% APR to a high of 34.99% APR, with terms from 24 to 48 months.

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Fast credit union loans

Some federal credit unions can fund personal loans quickly. Navy Federal, for example, can approve and fund a loan the same day you apply for it. First Tech borrowers can get their funds between the day they apply and two business days later.

Federal credit unions cap annual percentage rates at 18% on personal loans, while other lender APRs can reach nearly double that. Credit unions may also use an applicant's history as a member to inform loan decisions, so if you've been in good standing with a credit union for a while, that may be a factor in a loan decision.

Fast loans: What to know before you borrow

  • Loans from payday lenders and pawnshops can get you money quickly, but these options carry high annual percentage rates. Loans from reputable online lenders may take longer, but they cost far less.

  • Know what you need to apply for the loan so the lender can quickly verify your identity and other information. Some lenders say their ability to fund a loan quickly relies on borrowers' responsiveness to requests for documentation.

  • Calculate your estimated payments and determine how they impact your budget over the loans' repayment term.

  • Shop at multiple lenders and choose the loan with the lowest rate. Most online lenders let you pre-qualify to estimate your rate. Doing so won't impact your credit score.

Fast loans for bad credit

Some lenders offer fast loans for borrowers with bad credit (629 or lower FICO). If you have bad credit, a low debt-to-income ratio and proof of stable income will help you qualify.

Your credit score doesn't affect how long it takes for a lender to fund your loan, but your loan is likely to have a high APR and you may not be approved for a large loan amount.

Though many online lenders can fund loans quickly, take the time to compare bad-credit loans before borrowing and make a plan to repay the loan.

Fast cash without a loan

Before you borrow — and especially if the rate you qualify for is high — see if you can delay the expense or find interest-free cash sources. NerdWallet recommends trying all these cheaper alternatives before taking a high-cost loan:

Next step: Pre-qualify on NerdWallet

When you pre-qualify with multiple lenders, you get the chance to compare rates, loan features and terms. Pre-qualifying on NerdWallet with lenders that partner with us won’t affect your credit score.

Last updated on July 13, 2021

Methodology

NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews.

To recap our selections...

NerdWallet's Fast Personal Loans: Best Lenders for Quick Cash

Frequently asked questions