When you need to access cash quickly, an online personal loan is often your best option. The best fast personal loans provide same-day or next-day funding for borrowers who qualify — but it’s important to keep an eye on rates, terms and conditions to ensure you’re getting the right loan for you, not just the speediest.
In 2024, the best fast personal loans provide money as soon as the same day or the next day after approval. They also have quick approval processes, reasonable eligibility requirements and high loan limits. Rates for fast loans might not be as very low, but still offer competitive rates to qualified borrowers.
Best fast personal loans
- SoFi: Best overall.
- LendingClub: Best for co-borrowers.
- LightStream: Best for low APR.
- Prosper: Best for good credit.
- LendingPoint: Best for below-average credit.
- Oportun: Best for small loans.
- Upgrade: Best for bad credit.
Best overall
SoFi
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
8.99% to 29.49%
Loan amounts
$5,000 to $100,000
Time to fund
As soon as the same day as approval
What should you know
With 86% of SoFi personal loan applications qualifying for same-day funding, this lender is among the fastest. SoFi personal loans are available from $5,000 to $100,000. In addition, you can choose a repayment term of two to seven years, giving you a great deal of flexibility.
The lender prides itself on the fact that it has no origination, prepayment or other hidden fees. Additionally, you can apply for a SoFi personal loan with a co-borrower, increasing your chances of approval and qualification for the best rates. Altogether, the speed of funding, the large range of loan amounts available, the low interest rates, the repayment term flexibility and the lack of fees make SoFi a clear standout for quick personal loans.
Pros and cons
Pros
- 86% of personal loans qualify for same-day funding.
- High loan amounts.
- Flexible loan terms from 2 to 7 years.
- No origination fees or other fees.
- Allows co-borrowers.
Cons
- Does not disclose minimum credit score online.
- No loans under $5,000.
- Not available in all 50 states.
More details
- Fixed APR: 8.99% to 29.49%.
- Loan amounts: $5,000 to $100,000.
- Repayment terms: 2 to 7 years.
- Discounts:0.25% autopay discount, 0.125% member rate discount.
- Fees: None.
- Min. credit score: 680.
- Can apply with a co-signer:No, but can apply with a co-borrower.
- Time to fund: As soon as the same day as approval.
Best for co-borrowers
LendingClub
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
8.98% to 35.99%
Loan amounts
$1,000 to $40,000
Time to fund
As soon as 24 hours after approval
What should you know
LendingClub is one of the few personal loan lenders that allows co-borrowers. There is no minimum credit score for borrowers looking to get a loan from LendingClub. However, the ability to apply with a co-borrower increases your chances of qualifying for the money. Once approved, expect the loan to be funded within a few days, possibly within 24 hours.
Loans are available in amounts ranging from $1,000 to $40,000 with terms from two to five years. LendingClub has a 3% to 8% origination fee, late fee of 5% of outstanding amount or $15, whichever is greater, and a $15 insufficient funds fee.
Pros and cons
Pros
- Allows for co-borrowers.
- No specific minimum credit score.
- No prepayment penalty.
Cons
- Charges fees for late payments and insufficient funds.
- Limited repayment term options.
More details
- Fixed APR: 8.98% to 35.99%.
- Loan amounts: $1,000 to $40,000.
- Repayment terms: 2 to 5 years.
- Discounts:None.
- Fees: Origination fee (3% to 8%), late fee (5% of outstanding amount or $15, whichever is greater) and insufficient funds fee ($15).
- Min. credit score: No minimum.
- Can apply with a co-signer:No (but can apply with a joint applicant).
- Time to fund: As soon as 24 hours after approval.
Best for low APR
LightStream
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
7.49% to 25.99%
Loan amounts
$5,000 to $100,000
Time to fund
As soon as the same day after approval
What should you know
LightStream offers personal loans with the lowest rates compared to most competitors. You can also borrow any amount from $5,000 to $100,000 and choose a repayment term of two to 12 years (depending on loan type). You can also potentially get your money the same business day you’re approved for the loan.
LightStream does not disclose its minimum credit score requirements, but it does state that it only approves good to excellent credit profiles, which is generally classified as a 670 or above. The lender reports that 11% of applicants qualify for the lowest available rates. There are no fees associated with a LightStream loan, and signing up for autopay entitles you to a 0.50% discount (included in the advertised rates).
Pros and cons
Pros
- Low interest rates, including a low maximum APR.
- Loans up to $100,000 available.
- Flexible repayment terms.
- No origination or any other fees.
- Can apply with a co-applicant.
Cons
- Minimum credit score undisclosed.
- May be difficult to qualify for.
- Longest repayment terms are only available for home improvement and boat/aircraft/RV loans.
More details
- Fixed APR: 7.49% to 25.99%.
- Loan amounts: $5,000 to $100,000.
- Repayment terms: 2 to 12 years (depending on loan type).
- Discounts:0.50% autopay discount.
- Credit score requirement: Does not disclose.
- Fees: None.
- Can apply with a co-signer:Yes.
- Time to fund: As soon as the same day after approval.
Best for good credit
Prosper
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
8.99% to 35.99%
Loan amounts
$2,000 to $50,000
Time to fund
Within 1 business day after approval
What should you know
If you have good credit, a personal loan from Prosper can help you get anywhere from $2,000 to $50,000 within one business day of approval. Prosper does not accept any borrowers with credit scores below 560, but this lender is one of the few that allows you to apply with a co-signer.
Prosper loans have repayment terms of two to five years. You’ll have to pay a 1% to 9.99% origination fee, check payment fee of 5% of your payment amount or $5 (whichever is less), late payment fee of $15 or 5% of the unpaid amount (whichever is greater) and a $15 insufficient funds fee. Prosper is not available in Iowa and West Virginia.
Pros and cons
Pros
- Flexible repayment terms of 2 to 5 years.
- Co-signed loans available.
- No prepayment penalties.
- Quick fund disbursem*nt.
Cons
- No rate discounts.
- Fee for paying by check.
- Not available in Iowa and West Virginia.
More details
- Fixed APR: 8.99% to 35.99%.
- Loan amounts: $2,000 to $50,000.
- Repayment terms: 2 to 5 years.
- Discounts:None.
- Credit score requirement: 560 minimum.
- Fees: Origination fee (1% to 9.99%), check payment fee (5% of your payment amount or $5, whichever is less), late payment fee ($15 or 5% of the unpaid amount, whichever is greater), and insufficient funds fee ($15).
- Can apply with a co-signer:Yes.
- Time to fund: Within 1 business day after approval.
Best for below-average credit
LendingPoint
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
7.99% to 35.99%
Loan amounts
$2,000 to $36,500
Time to fund
As soon as the next business day after approval
What should you know
LendingPoint offers quick loans to borrowers with credit scores as low as 600. You can borrow from $2,000 to $36,500 with repayment terms of two to six years. Unfortunately, LendingPoint does not allow you to apply with a co-signer or co-borrower.
Another benefit of LendingPoint is that approval decisions can occur in just a few seconds after completing the application. After approval, you can receive funds as quickly as the next business day.
Borrowers will need a minimum income of $35,000 to qualify for a LendingPoint loan, and you can expect to pay an origination fee from 0% to 10%. Unfortunately, LendingPoint personal loans are not available in Nevada and West Virginia.
Pros and cons
Pros
- Approval decisions in seconds.
- No prepayment penalties.
- Available for borrowers with low credit scores.
Cons
- Requires a minimum income of $35,000.
- No co-signers or joint applicants.
- Not available in all states.
More details
- Fixed APR: 7.99% to 35.99%.
- Loan amounts: $2,000 to $36,500.
- Repayment terms: 2 to 6 years.
- Discounts:None.
- Fees: Origination fee (0% to 10%).
- Min. credit score: 600.
- Can apply with a co-signer:No.
- Time to fund: As soon as the next business day after approval.
Best for small loans
Oportun
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR
35.99% maximum
Loan amounts
$300 to $18,500 (depending on your state and loan type)
Time to fund
Within 1 to 3 business days after approval
What should you know
If you need access to a small amount of cash in a hurry, Oportun could be a good lender to turn to. This lender offers $300 to $10,000 (unsecured); $2,525 to $18,500 (secured) – and it also allows for co-signers in certain situations.
There’s no specific minimum credit score requirement to borrow from Oportun. Instead, the lender simply asks for a valid ID, proof of income, list of recurring debts, proof of address, and employer contact information. This gives access to borrowers with little to no credit history or a bad credit score, but you can expect to pay a high interest rate in return. Expect to pay an origination fee, as well, although the specific amount will vary depending on your location.
Oportun is not available in all states. Residents in Colorado, Connecticut, Maine, Maryland, Massachusetts, Nevada, New York, West Virginia or Washington, D.C. cannot borrow from this lender.
Pros and cons
Pros
- Loans for as little as $300 available.
- Borrowers with bad credit or no credit history can qualify.
- Funding available in as little as 24 hours after approval.
Cons
- Origination fee not disclosed.
- With secured loan, loss of car is a possibility if delinquent.
- Not available in all states.
More details
- Fixed APR: 35.99% maximum.
- Loan amounts: $300 to $18,500 (depending on your state and loan type).
- Repayment terms: 1 to 5.33 years (depending on loan type and location).
- Discounts:None.
- Fees: Origination fee, late fee and returned payment fee (fee amounts will depend on your location).
- Min. credit score: No minimum.
- Can apply with a co-signer:Yes (in some cases).
- Time to fund: Within 1 to 3 business days after approval.
Best for bad credit
Upgrade
Via MoneyLion’s website
BLUEPRINT RATING
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Fixed APR *Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade’s bank partners. Information on Upgrade’s bank partners can be found at https://www.upgrade.com/bank-partners/.
9.99% to 35.99%
Loan amounts
$1,000 to $50,000
Time to fund
Within 1 business day after approval
What should you know
Borrowers with a credit score below 600 can struggle to be approved for a personal loan, but Upgrade will approve loans for borrowers with a credit score as low as No minimum—making it one of easiest personal loans to getwhen it comes to credit. This lender also offerspersonal loans with joint applicants, which can increase the odds of getting approved and potentially help you qualify for a better interest rate or higher loan amount than you’d qualify for.
Loans are available in amounts ranging from $1,000 to $50,000 and repayment terms from two to seven years. Upgrade offers some borrowers a lower rate if they sign up for automatic payments and use a portion of their loans to consolidate existing debt—but the size of this discount isn’t disclosed on Upgrade’s website.
Borrowers can expect to pay a 1.85% to 8.99% origination fee, $10 late fee and $10 returned payment fee.
Pros and cons
Pros
- Accepts borrowers with low credit scores.
- Permits joint applicants.
- No prepayment penalty.
- Offers direct payments to third-party creditors.
Cons
- Origination fee higher than most competitors.
- Higher interest rates compared to competitors.
- Charges fees for late payments and insufficient funds.
More details
- Fixed APR: 9.99% to 35.99%.
- Loan amounts: $1,000 to $50,000.
- Repayment terms: 2 to 7 years.
- Discounts:Available, but not specifically disclosed.
- Fees: Origination fee (1.85% to 8.99%), late fee ($10) and returned payment fee ($10).
- Min. credit score: No minimum.
- Can apply with a co-signer:No (but can apply with a joint applicant).
- Time to fund: Within 1 business day after approval.
Compare the best fast personal loans
| INTEREST RATES | LOAN AMOUNTS | REPAYMENT TERMS | MINIMUM CREDIT SCORE | TIME TO FUND | |
|---|---|---|---|---|---|
SoFi | 8.99% to 29.49% | $5,000 to $100,000 | 2 to 7 years | 680 | As soon as the same day as approval |
LendingClub | 8.98% to 35.99% | $1,000 to $40,000 | 2 to 5 years | No minimum | As soon as 24 hours after approval |
LightStream | 7.49% to 25.99% | $5,000 to $100,000 | 2 to 12 years (depending on loan type) | Does not disclose | As soon as the same day after approval |
Prosper | 8.99% to 35.99% | $2,000 to $50,000 | 2 to 5 years | 560 | Within 1 business day after approval |
LendingPoint | 7.99% to 35.99% | $2,000 to $36,500 | 2 to 6 years | 600 | As soon as the next business day after approval |
Oportun | 35.99% maximum | $300 to $18,500 (depending on your state and loan type) | 1 to 5.33 years (depending on loan type and location) | No minimum | Within 1 to 3 business days after approval |
Upgrade | 9.99% to 35.99% | $1,000 to $50,000 | 2 to 7 years | No minimum | Within 1 business day after approval |
All rates are accurate as of September 4, 2024 and include any applicable discounts as specified by the lender.
Methodology
Our expert writers and editors have reviewed and researched multiple lenders to help you find the best fast personal loan. Out of all the lenders considered, the seven that made our list excelled in areas across the following categories (with weightings): application process (35%), loan cost (15%), loan details (20%), eligibility and accessibility (20%) and customer experience (10%).
Within each major category, we considered several characteristics, including time to fund, APR ranges, late payment fees, maximum loan amounts and terms, minimum credit score requirements and co-signer acceptance. We also evaluated each provider’s customer support options and customer reviews.
Why some lenders didn’t make the cut
Of the personal loan lenders that we reviewed, only a fraction made the cut. The lenders that didn’t have high enough scores to be included, received lower ratings due to having longer funding times, higher interest rates, not allowing co-signers and charging more fees than many competitors.
How fast is a "fast" personal loan?
All the lenders highlighted in this article provide quick funding after borrowers are approved. That means these fast personal loans offer same-day funding or funding within one to two business days after approval.
How to get a fast personal loan with bad credit
If you need money fast but have bad credit or no credit history, you may need to apply for a fast personal loan with a co-signer or co-borrower. Applying with another applicant will allow you to take advantage of their better credit score and history to help you qualify for the loan and potentially receive more favorable rates and terms.
However, your co-signer or co-borrower will be equally responsible for paying back the loan, which means you will need to be on the same page with your co-applicant to ensure the loan is paid off.
Alternatives for getting cash fast
When you need money in a hurry, you may consider other short-term lending options before turning to a personal loan. Payday loans, pawn shop loans and car title loans are well-known as quick ways to access cash because you can usually get the money immediately instead of waiting for personal loan approval.
However, short-term loans tend to have much more significant risks than personal loans. Payday loans can charge APRs approaching 400%, making it difficult to get out of the payday lending cycle once you’ve started. Both pawn shop loans and car title loans require collateral, and defaulting on these loans will mean losing the valuable item or car you use to secure them.
Though it can take a little longer to apply, get approved and receive funding from a fast personal loan, this will generally be a much safer and less expensive option than turning to a short-term loan.
Frequently asked questions (FAQs)
There is no way to get cash instantly with a personal loan. “It usually doesn’t take much time to fund a personal loan, especially via an online lender,” says Leslie H. Tayne, Esq., Founder and Managing Director of Tayne Law Group. “[But usually] the approval process takes one to three days, while disbursal of funds takes up to another five days, especially if you bank with a smaller bank or credit union.”
However, just because you can’t get money immediately doesn’t mean you can’t expect quick funding. “In many cases, it may only take a couple of days between approval and receiving the funds in your bank account,” Tayne says.
Many online lenders offer quick funding for personal loans, but every reputable lender must take at least some time to approve your application before disbursing your funds. Tayne warns about lenders who make promises about lightning-quick funding.
“Some less reputable lenders may promise fast funding because they do not perform a credit check,” she says. “While that may seem more convenient, especially if you don’t have great credit, it’s a red flag. Best case, you’ll end up paying exorbitant interest rates and fees. Worst case, it’s a scam.”
Several online lenders specialize in helping borrowers with bad credit get personal loans. You may qualify for a loan with such lenders and receive funding anywhere from the same day to within two business days. But such loans will often come with higher interest rates, high origination fees or low borrowing limits—so make sure you do your research before agreeing to borrow from a lender.
