Best Emergency Loans in 2026

NerdWallet's picks for the best emergency loans

Discover: Best for no fees

Why we chose this lender: With next-day funding, Discover personal loans can help you handle emergency expenses. This lender also charges no fees — unlike many lenders that charge origination fees, which add to the cost of borrowing.

What to be aware of: You’ll need a credit score of at least 660 to qualify, and your desired loan amount must be no less than $2,500 and no more than $40,000.

Earnest: Best for borrowers with good or excellent credit

Why we chose this lender: Earnest has next-day funding, so you don’t have to wait long for money in an emergency. You’ll need a credit score of at least 680 to qualify, making this a fitting option if you have good or excellent credit (a score of 690 or higher).

What to be aware of: You can’t borrow less than $3,000. Also, Earnest offers an optional origination fee ranging from 1% to 8% of the loan amount. It’ll lower your loan’s annual percentage rate, but the fee will be deducted from your loan before the money is sent your way.

Upgrade: Best for small loans

Why we chose this lender: Upgrade says it provides instant loan approval decisions and will send funds within one business day. This lender offers loans as low as $1,000, which can be suitable for small borrowing needs. Other lenders require minimum loan amounts of $2,000 or more.

What to be aware of: Upgrade charges an origination fee that ranges from 1.85% to 9.99% of the loan amount.

SoFi: Best for large loans

Why we chose this lender: You can’t get any better than same-day funding, which is what SoFi offers. You can borrow up to $100,000, which is higher than most personal loan lenders and could help you cover a particularly pricey emergency.

What to be aware of: You’ll likely need good or excellent credit to qualify. Sign your loan documents by 5:30 p.m. ET on a business day to be eligible for same-day funding.

Happen Bank (formerly LendingClub): Best for joint loans

Why we chose this lender: You can get next-day funding with Happen Bank, which is important when you need to cover an emergency expense. Happen Bank also lets you share the loan with a spouse, partner, family member or other individual. This can be useful if you’re financing a shared expense — like emergency repairs for a vehicle or home you co-own. Getting a joint loan can also help you secure a lower rate or larger loan, especially if your co-borrower has a better credit score or higher income than you.

What to be aware of: Happen Bank may charge an origination fee of up to 8%.

Upstart: Best for borrowers with bad or fair credit

Why we chose this lender: Upstart says it makes instant loan approval decisions and can fund a loan as soon as the next business day. This lender doesn’t set a minimum credit score requirement. It considers applicants with bad and fair credit scores — plus those with thin credit histories.

What to be aware of: Upstart charges an origination fee of up to 12%, which is higher than many lenders.

LightStream: Best for home improvement emergencies

Why we chose this lender: LightStream can fund a loan the same day you’re approved, which is essential in an emergency. Just make sure to sign your loan documents by 2:30 p.m. ET. LightStream’s competitive rates, large loan amounts and long repayment terms make its loans suitable for big home improvement emergencies, like a new roof or HVAC system.

What to be aware of: You can’t get a LightStream loan lower than $5,000. You also aren’t able to pre-qualify for a LightStream loan directly from its website. However, you can pre-qualify through a third-party partner like NerdWallet.

Rocket Loans: Best for borrowers with low income

Why we chose this lender: Rocket Loans can fund a loan the same day it approves the application, as long as you sign the loan documents by 4 p.m. ET on a business day. It only requires you to have a minimum annual income of $24,000, which is much lower than the median U.S. salary.

What to be aware of: Your debt-to-income ratio must be no higher than 40% (or 70%, if you include a mortgage). Be prepared to pay an origination fee that can be up to 9.99%.

How to get an emergency loan

» MORE: How to get a quick loan

Calculate your loan costs

Before applying for a loan, use our personal loan calculator to determine your monthly loan payment and total interest costs, based on your desired loan amount, repayment term and estimated APR.

The following table shares average rates by credit score bands for those who pre-qualified through NerdWallet in the last 30 days. These rates are based on aggregate, anonymized offer data and are not specific to any lender. They’re a good starting point to use when estimating loan costs with a personal loan calculator.

What the nerds think

“Even when you need to borrow money for an emergency, it’s important to take a moment to evaluate whether you can sustain monthly loan payments over the entire loan term. Defaulting on a personal loan can damage your credit score and could lead to legal action and wage garnishment. If you absolutely need the loan but your estimated monthly payments seem too high, take action to score a lower APR or consider a longer loan term.”

Nicole DowLead Writer & Content Strategist

Tips to get an emergency loan with bad credit

Credit scores are often a big factor in loan approval decisions. However, having bad credit (a score below 630) doesn’t automatically disqualify you from getting a loan.

Here are a few tips to get an emergency loan with bad credit.

Add a co-signer or co-borrower

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.

Add collateral

Some lenders let borrowers secure a personal loan with collateral (usually a vehicle or savings account).

Adding collateral can improve your chances of qualifying, but approval time can be longer. Also, the lender can take the collateral if you don’t repay the loan as promised.

Add up income streams

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

Beware using no-credit-check loans

In an emergency, it can be tempting to turn to lenders that don’t require a credit check, especially if you don’t have good credit. These lenders offer loans that can be fast and easy to get, but they’re typically high-interest loans. The high costs and short repayment terms of these loans may lead to more debt, so they should be only considered as a last resort.

Be wary of these high-cost loans, as well as straight-up scams. Check lenders’ licenses, read customer reviews and check the fine print before signing anything.

» MORE: 7 signs of personal loan scams

Consider these borrowing alternatives

Even when you’re trying to get money quickly, it’s important to explore your options for borrowing. There may be cheaper solutions for your financial emergency — though they may not be as fast or convenient and could require asking for help.

Here are some possible alternatives to an emergency loan.

Local financial assistance programs

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.

Friend or family loan

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

Payday alternative loan

Best for: Credit union members looking for a small loan.

Several federal credit unions offer payday alternative loans (PALS), which let you borrow up to $2,000 and repay the loan within a year. Annual percentage rates are capped at 28%, making these options considerably more affordable than payday loans. However, you’ll need to be a member of a credit union that offers these loans.

Small bank loan

Best for: Small loans from the bank where you have an account.

Some banks, including Bank of America, U.S. Bank and Wells Fargo, offer small-dollar loans of no more than $1,000 that you repay over a few months with a small fee. The cost of borrowing typically equates to rates under 36%, and you can receive the money within minutes.

Not all banks offer these types of loans, and you’ll usually have to be a current customer in good standing to qualify.

Medical bill assistance

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

0% APR credit card

Best for: A large purchase you can pay off within a year or two.

A 0% APR credit card lets you finance expenses without any interest cost as long as you pay off the card’s balance by the end of the no-interest introductory period — usually the first 15 to 21 months. You may need good credit to qualify for a 0% APR credit card.

While it can take a week or longer to receive your physical card in the mail, the card issuer may provide you with digital access to the card once you’ve approved so you can use it right away in an emergency.

» MORE: Best 0% APR credit cards

Buy now, pay later

Best for: A large purchase that you want to repay over a few weeks or months.

“Buy now, pay later” plans 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. The shortest plans tend to be interest free.

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.

Paycheck advance

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.

Next step: Pre-qualify for a personal loan

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.

How we chose the best personal loans

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.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.

Affordability

25%

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

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.

NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

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