9
Best Fast Personal Loans For Quick Cash
Compare the Best Fast Personal Loans
Best Fast Personal Loan Lenders: A Closer Look
BEST OVERALL FAST PERSONAL LOAN
SoFi®
Loan amounts
$5,000 to $100,000
APR range
6.99% to 35.49%*
with all discounts
Minimum Credit Score
Does not disclose
$5,000 to $100,000
6.99% to 35.49%*
with all discounts
Does not disclose
SoFi is an online lending platform that offers unsecured fixed-rate personal loans in every state. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.
Loans are available from $5,000 to $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum does not disclose) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.
Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum. The platform also offers customers several other perks and discounts.
- Offers comprehensive member benefits and perks
- Does not charge origination, late payment or prepayment fees
- Offers direct payment to creditors
- Loan amounts of up to $100,000
- Higher minimum loan amount ($5,000)
- Longer average funding time (4 days)
- High maximum loan APR ( 35.49%*)
- Live chat is limited to business hours
Lender Details
Eligibility
- Minimum credit score: Does not disclose
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Funds should generally be available within a few days after signing the loan agreement.
Disclosures
*Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 06/03/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
*Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 06/03/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
BEST FOR LOW INTEREST RATES
LightStream
Loan amounts
$5,000 to $100,000
APR range
6.49% to 24.89%
with autopay
Minimum Credit Score
700
$5,000 to $100,000
6.49% to 24.89%
with autopay
700
LightStream offers loans with both a low minimum and maximum interest rate, along with a rate-beat program. LightStream’s unsecured personal loans range from $5,000 to $100,000 with loan amounts varying based on the loan purpose. In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay.
- Does not charge origination, late payment or prepayment fees
- Lower maximum APR (capped at 24.89%)
- Same-day funding is possible
- Offers consolidation loan amounts of up to $100,000
- Higher minimum loan amount ($5,000)
- No option for prequalification
- No option for direct payments to creditors
- No mobile app
Lender Details
Eligibility
- Minimum credit score: 700
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Same-day funding may be available if you sign documents, provide a bank account and complete the loan verification process before 2:30 p.m. ET.
BEST FOR SAME-DAY FUNDING
Rocket Loans
Minimum Credit Score
640
APR range
7.99% to 29.99%*
minimum rate includes autopay discount
Loan amounts
$2,000 to $75,000
640
7.99% to 29.99%*
minimum rate includes autopay discount
$2,000 to $75,000
A sister company to Rocket Homes and Rocket Mortgage, Rocket LoansSM offers personal loans through Cross River Bank. The personal loan provider’s availability in most states and low minimum credit score requirement (640) make Rocket Loans an accessible option. However, borrowers will face origination fees and repayment terms limited to three or five years.
Rocket Loans scored high on our list of personal loans for emergencies, however, because borrowers can receive funds as soon as the same day they apply. To prequalify for this fast funding, approved applicants must complete their application and sign the promissory note before 1 p.m. Eastern time on a business day. If same day funding is not possible, the average time to receive funds is two to four days.
Keep in mind that funding speed and accessibility come with a price—Rocket Loans charges an origination fee of up to 9% of the loan amount and APRs range from 7.99% to 29.99%* (minimum rate includes autopay discount). So, if you have a high credit score, or can wait a little longer to receive funds, cheaper loan options may be available. You can prequalify for a loan amount from $2,000 to $75,000.
- Discounts for using autopay
- No prepayment penalty fees
- Strong customer feedback on review sites
- Origination fees
- Not available in all states
- Only two repayment terms
Lender details
Eligibility
- Minimum credit score: 640
- Co-signers/co-borrowers: Not disclosed
Funding Speed
Same-day funding may be available depending on what time of day your loan is approved and signed.
BEST FOR QUICK APPROVAL
LendingPoint
Minimum Credit Score
600
APR range
7.99% to 35.99%
with autopay
Loan amounts
$1,000 to $36,500
600
7.99% to 35.99%
with autopay
$1,000 to $36,500
LendingPoint is an online lender that offers personal loans to prospective borrowers in 48 states and Washington D.C.; it doesn’t offer loans in Nevada and West Virginia.
Why We Like It
LendingPoint offers longer loan terms than many other lenders—24 to 60 months—or two to five years—providing borrowers with more flexibility in their repayment plans.
What We Don’t Like
High maximum APRs and origination fees up to 10% may make LendingPoint more costly for less-qualified borrowers.
Who It’s Best For
LendingPoint is best for borrowers who want a longer repayment period.
- Funding as soon as the next business day
- Low credit score requirement
- No prepayment penalty
- Origination fee up to 10%
- Co-signers or joint loans not permitted
- Not available in Nevada or West Virginia
Eligibility:
- Minimum credit score. 600
- Minimum annual income. $35,000
- Co-signers. Not permitted
Customer service
After testing and evaluating LendingPoint’s customer service, we found it to be one of the most helpful and transparent lenders on our list after waiting only 46 seconds to be connected to a representative. The customer service representative we spoke with shared an in-depth perspective of their loan offers, including information about loan amounts, eligibility requirements, how interest rates are determined and prequalification.
LendingPoint’s team also disclosed late fees but didn’t confirm origination fees. While customer service didn’t share this information wasn’t, the lender discloses a fee of up to 10% on its website. LendingPoint was also one of few lenders that shared how they report payments to credit bureaus, which it typically does at the start of the month.
BEST FOR FLEXIBLE REPAYMENT TERMS
Avant
Loan amounts
$1,000 to $40,000
APR range
9.95% to 35.99%
Minimum Credit Score
580
$1,000 to $40,000
9.95% to 35.99%
580
Avant is a lender that offers secured and unsecured personal loans through a third-party bank. The lender offers loans in Washington, D.C. and every state but Hawaii, Iowa, Maine, New York, Vermont and West Virginia.
Why We Like It
Avant may deposit loan funds as soon as the next business day after approval, making it a great option for borrowers who need money fast.
What We Don’t Like
Avant’s APRs range from 9.95% to 35.99%. It also charges an administrative fee of up to 4.75% of the loan amount, which further increases the cost of borrowing.
Who It’s Best For
Avant is best for individuals with damaged or limited credit who need quick funding.
- Low minimum credit requirement of 580
- Funding as soon as the next business day
- Seven-day customer support available
- High minimum APR of 9.95%
- Administration fee up to 9.99%
- Doesn’t pay creditors directly
BEST FOR SMALL LOANS
Upstart
Loan amounts
$1,000 to $75,000
APR range
6.60% to 35.99%
Minimum Credit Score
620
$1,000 to $75,000
6.60% to 35.99%
620
Upstart uses artificial intelligence (AI) to evaluate applications, allowing the lender to consider factors such as employment and education when determining eligibility.
Why We Like It
Upstart’s minimal credit score requirements allow more borrowers to qualify for loans. The Consumer Financial Protection Bureau estimated Upstart has approved 27% more borrowers than possible under a traditional lending model.
What We Don’t Like
Upstart’s three- or five-years loan terms are more limited than other lenders. However, this is likely an acceptable tradeoff for applicants who might not be approved in a traditional lending environment.
Who It’s Best For
Upstart is best for individuals with limited credit history who want a more inclusive approach to the lending process.
- Low minimum APR of 6.60%
- Low credit score and income requirements
- Offers instant approval decisions
- Maximum and minimum amounts vary by state
- Limited repayment options
- Doesn’t offer co-signer or co-borrower options
How We Picked the Best Fast Personal Loans
How We Evaluate the Best Fast Personal Loans
-
25
Lenders researched
We chose which lenders to review based on loan volume and availability
-
5
Methodology factors considered
Includes cost, details, eligibility, customer experience and application process
-
13
Metrics examined
Most weight given to average turnaround time, eligibility and loan amounts and terms
| Product Name | Consumer Sentiment Index | Interest Rates and Fees | Customer Service | Loan Terms and Flexibility | Ease of Approval and Process | Overall Satisfaction |
|---|---|---|---|---|---|---|
|
SoFi®
|
|
3/10
|
3/10
|
3/10
|
4/10
|
3/10
|
|
LightStream
|
|
3/10
|
2/10
|
3/10
|
4/10
|
3/10
|
|
Rocket Loans
|
|
3/10
|
3/10
|
4/10
|
3/10
|
4/10
|
|
LendingPoint
|
|
3/10
|
4/10
|
4/10
|
4/10
|
4/10
|
|
Avant
|
|
3/10
|
4/10
|
4/10
|
5/10
|
4/10
|
Former Staff Writer
Amber Barkley
Loans & Mortgages
Amber Barkley is a writer and editor with over 10 years of experience in topics ranging from personal finance to marketing analytics to fiction. She found her niche in personal finance in 2022, when she joined GOBankingRates as an editor, providing people with the information they need to make good decisions with their money.
Kiah Treece
Kiah Treece, senior staff writer, has written and edited dozens of personal loan and business loan articles for Forbes Advisor, bringing her expertise as a small business owner to her writing. Treece also has owned numerous small businesses and developed expertise in small business and personal lending, real estate, insurance and other areas of personal finance.
Tips to Compare Fast Personal Loans
If you need a loan fast, there are some things you can do to make sure you get the best deal possible while still receiving funds quickly. Follow these tips when comparing fast-approval personal loans:
- Find a funding speed that works for you. If your primary goal is to access cash quickly, compare lenders based on application approval and loan disbursement times. Fast funding speeds may come with higher interest rates or less flexible loan amounts, but the best personal loans offer a combination of competitive features.
- Compare available interest rates. Look at the interest rate ranges available from each lender. Some lenders publish their rates as APRs, which include the interest rate plus additional fees and give a better idea of the overall cost of the loan. Some of the best cash loans come with APRs between about 6% and 36%.
- Choose a repayment term that fits your budget. Compare loan terms for each lender, and make sure you can afford the monthly payments before you apply. The longer the repayment term, the smaller the monthly payment—but this translates into more interest and a higher cost of borrowing in the long run.
- Pay attention to each lender’s reputation. Ask for referrals from friends or family members who have taken out a fast personal loan in the past. Also read online reviews to see how past and current borrowers feel about the lender’s application process, approval odds and customer support. This can help you find a lender that is reputable and trustworthy.
- Carefully read the loan agreement. Even if you need an emergency loan, make sure you understand all the details of the loan agreement before signing on the dotted line. By reading the fine print, you can avoid surprises down the road—especially if you are trying to get loan funds quickly and may be inclined to rush through the borrowing process.
What Is a Fast Personal Loan?
A fast personal loan is one where you can receive funding quickly; with some lenders, it can be as soon as the same day. That quick turnaround includes the entire process, including applying, receiving a decision and then receiving the funds in your bank account.
Personal loans are extremely flexible, so you can use them for a wide range of purposes, including consolidating debt, financing a large purchase or paying for unexpected expenses. You can also use funds to pay for moving expenses, finance home improvements, pay medical bills, cover wedding costs or go on vacation.
That said, you may not be able to use personal loan disbursements to pay for higher education, make a down payment on a home or cover certain business expenses. You also can’t use personal loan funds for illegal purposes.
Rocket Loans is one lender that advertises same-day turnaround times, for some loans. In contrast, it can take up to a week to actually see funds in your account from the time you apply for the loan with most personal lenders.
Pros and Cons of Fast Personal Loans
Getting a personal loan fast can be appealing, but before you accept the financing, be sure to understand the pros and cons of a quick loan:
Pros
- Online applications. Fast personal loans often come with online applications that streamline the lending process. Once you apply, a lender representative may contact you to provide additional information or documents, often through an online portal.
- Quick approval and funding. Many fast personal loans can be approved within hours or even minutes of applying. Some lenders even offer same- or next-day funding, though your bank may take longer to release the funds once disbursed by the lender.
- Lower interest rates than credit cards. Personal loans typically come with interest rates between 6% and 36%, making them cheaper than credit cards. Still, you may face origination fees or other borrowing costs, so review the loan terms carefully.
- No collateral requirements. Fast personal loans are usually unsecured, meaning you don’t have to pledge any collateral to back the loan.
Cons
- May require good credit. Many lenders require borrowers to have a credit score in the mid-600s to qualify for a personal loan. However, some fast personal loans are available with a score of at least 580 or 600.
- Smaller choice of lenders. Not all lenders offer personal loans with fast approval times and same- or next-day funding. If you need money quickly, you’ll need to choose an online lender or other financial institution that advertises quick funding, then meet eligibility criteria to receive your funds on the advertised timeline.
- Funding times can vary. While some lenders advertise same-day funding, you must typically meet application requirements by a certain time of day to qualify for the lender’s fastest advertised lending speed. Likewise, the method of transfer and the bank receiving your funds can impact how long it takes to receive funds.
- Risk of overborrowing. If you opt for a fast personal loan, you may have to borrow more than you actually need. Access to fast funding speeds may also tempt you into making rushed financial decisions that don’t align with your budget and financial goals.
How Fast Can You Get a Personal Loan?
You can usually get a personal loan pretty quickly, with some lenders offering almost immediate approvals and same-day funding. Even with personal loan instant approval options, though, it’s more common to receive personal loan funds within three to five business days of loan approval and completion of the loan verification process.
Personal loan funding speeds also depend on your bank and how quickly it processes—and makes accessible—the loan proceeds. So if you need cash quickly, ask your bank how long it will take to see funds deposited in your account.
How To Get a Loan Quickly
There are a few things you can do to increase your chances of getting approved and receiving funds quickly. Here’s how to get a quick loan:
- Check your credit score. Borrowers with a credit score of at least 670 are more likely to get approved for a personal loan than less creditworthy applicants. Having a strong credit history also makes it easier to qualify with a lender that offers accelerated funding speeds with competitive rates. Check your credit score and report early in the borrowing process so you have time to make improvements or dispute issues.
- Calculate how much you need and how much you can afford to borrow. Personal loan amounts generally range anywhere from $1,000 to $100,000, but flexible loan amounts are not always available with fast funding. Consider how much money you need before you choose a lender and apply for a loan. This will help you narrow down your options and choose a loan that works with your timeline, rather than wasting time on lenders that don’t meet your needs.
- Compile all of the necessary documents. The documents required to apply for a personal loan vary by lender but typically include your driver’s license, Social Security number, proof of income and address. It also may be necessary to provide the lender with a copy of bank statements. If you need to access personal loan funds quickly, organize these documents before applying so you can move through the approval process as fast as possible.
- Prequalify with multiple lenders. Compare personal loans from multiple lenders to find the most competitive interest rate, flexible repayment terms and lowest fees available. Where possible, prequalify to see the loan amount and rate you’re likely to qualify for before committing time to the application process.
- Apply for a loan at your preferred lender. Once you prequalify with several lenders, complete the application and underwriting process with the lender that offers the fastest funding speed—or otherwise addresses your needs. This often can be completed online, but you may need to discuss your application with a loan officer over the phone or provide additional documents to complete the verification process. Respond to lender requests quickly to prevent delays in underwriting.
What Are the Credit Requirements for a Quick Loan?
The credit requirements for a quick loan vary by lender and loan type, but you’ll need a score of at least 580 to qualify, and many lenders look for a score in the mid-600s. Online lenders with quick funding may impose more accessible credit requirements than traditional banks, but you’re more likely to qualify for competitive loan terms with a score in the 700s or higher. If you have fair or poor credit, look for lenders with low credit score requirements and prequalify to evaluate your approval odds.
How To Get Quick Loans With Bad Credit
If you have bad credit, it might be hard to get approved for fast funding loans because lenders will worry about your ability to make payments. You can try to find a lender who is willing to work with you, but it will likely take longer and you might have to pay more in interest and fees. If you need money quickly but have less-than-stellar credit, consider the best emergency loans for bad credit.
Also consider applying with a co-signer who can improve your personal loan approval odds. A co-signer is someone with good credit who agrees to sign the loan with you and is responsible for making the payments if you can’t. This can be a family member or friend, but keep in mind that co-signers assume substantial risk.
Alternatives to Quick Personal Loans
If you need cash fast but don’t want to take out a personal loan, consider these alternatives:
- Cash-advance apps. These let consumers access cash from their paycheck before it’s deposited in their account. The app links to the user’s account and then automatically withdraws the advanced amount after they get paid.
- Friends and family. If you feel comfortable, consider asking friends or family for a temporary cash infusion. Make sure you communicate your needs clearly and record all of the important loan terms in writing, including the loan amount, interest rate and repayment term. This can add clarity and help you avoid conflict down the road.
- 0% APR credit card. Some credit cards offer qualified applicants a 0% interest introductory period. These 0% APR credit cards can be a good option if you need to make a large purchase and can pay off the balance within the introductory period—usually between six and 21 months.
- Payday loans. These involve borrowing money for a short period of time and can come with fast funding speeds. However, we don’t recommend them because the interest rates are typically extremely high, and the loans can lead to a cycle of borrowing.
- Payday alternative loans (PALs) from a credit union. This type of loan is offered exclusively to eligible credit union members and can help you avoid a typical payday loan. Loan amounts are usually limited to $200 to $1,000, with repayment terms from one to six months.
Forbes Advisor Contributor Lindsay VanSomeren contributed to this article.
Frequently Asked Questions (FAQs)
Which lenders offer the fastest personal loans?
Online lenders like SoFi, LightStream and Rocket Loans are known for offering some of the fastest personal loans. Some top lenders offer near-instant prequalification, same-day approval and funding within one to two business days. If you have an established relationship with a local bank or credit union, you may also be able to access quick funding when faced with an urgent financial need.
Are fast personal loans more expensive?
Fast personal loans can be more expensive than slower alternatives due to higher interest rates and the fees some lenders charge for the convenience of fast funding. That said, loan costs vary by lender and are lower for well-qualified borrowers. Comparing loan options can make it easier to find the lowest available APR.
When should I take out a fast personal loan?
When you should take out a fast personal loan depends on your needs and how urgently you need the funds. A fast personal loan can take up to a couple of days from when you apply until when you receive funds.
That said, there’s no guarantee that you’ll receive a loan within a couple of days, especially if you apply over the weekend or if the lender needs more information. If you need financing, it’s likely best to not wait to apply for a fast personal loan.
How can I get an instant personal loan ?
There is no such thing as an instant personal loan—all personal loans take some time to process. However, it is possible to get a same-day personal loan, and there are some steps you can take to increase your chances of getting approved and receiving funds quickly. Still, you will need to meet certain requirements, and your interest rates may be higher than what you’d get with lending options with slower funding speeds.
Can I get a personal loan without a credit check?
Most personal loans require a credit check because lenders use your credit score to determine loan eligibility and interest rate. However, some lenders specialize in loans for people with bad credit and offer no-credit-check loans. It’s usually best to avoid no-credit-check loans, though, because they have higher interest rates and shorter repayment terms than other financing options.