Our experts answer readers’ personal loan questions and write unbiased product reviews (here’s how we assess personal loans). In some cases, we receive a commission from our partners; however, our opinions are our own.
Not every personal loan has funding available the same or next business day for quick cash, but some lenders offer this option. The best personal loans for quick access to cash can get you money as soon as the same day.
Here are Insider’s top picks for same-day or next-day funding:
Best Personal Loans for Quick Funding
LightStream Personal Loan – Product Name Only Upstart Personal Loan – Product Name Only Avant Personal Loan – Product Name Only Best Egg Personal Loan – Product Name Only LendingPoint Personal Loan – Product Name Only Rocket Loans Personal Loan – Product Name Only OppLoans Personal Loans – Product Name Only
Compare the Best Personal Loans for Quick Funding
Our Experts’ on Choosing the Best Fast Personal Loan
We consulted personal loan and financial experts to give their insights into finding the best low-interest student loans for your needs.
- Markia Brown, certified financial education instructor and registered financial associate at Money Plug, LLC
- Ryan Wangman, loans reporter at Personal Finance Insider
Quick Funding Personal Loans Frequently Asked Questions
Can I be approved for a personal loan without a credit check?
With most lenders, no. All lenders Insider considered in this list required credit checks. OneMain Financial, which we considered, doesn’t have a minimum credit score requirement. A credit check could help you get the best interest rate that you qualify for. If you can’t qualify for a personal loan, there are alternatives for borrowing money such as using a credit card with an intro APR offer.
What can a personal loan be used for?
Personal loans can be used for a variety of reasons, and lenders generally specify what loans can be used for. Generally, they’re best used for emergencies, like a home repair or medical expenses.
Personal loans can also be used to cover large purchase expenses that don’t qualify for other loans, like a motorcycle or RV purchase, or for a wedding. Credit card debt consolidation is another common use, making credit card debt easier to manage by putting it all into one monthly payment. Check with your lender to make sure your plans fit the lender’s personal loan options.
Could I save money by waiting longer for my cash?
In some cases, yes. Some lenders will charge higher interest rates or fees for the convenience of quick cash. Working with a lender that has a lower interest rate and waiting a few days for your money could help you save on interest over time.
However, that’s not always the case. Anyone with excellent credit scores looking for a personal loan should certainly consider LightStream, as low interest rates make it a top contender for personal loans even for people who don’t need the cash immediately. The same goes for borrowers with fair credit scores and Avant, which also topped our list of best personal loans in 2022.
LightStream Personal Loan – Product Name Only
However, this lender won’t be a good option for anyone with a poor credit score or little credit history. LightStream requires that applicants have a minimum credit score of 660.
For anyone who does qualify for a personal loan with LightStream, this is the most affordable option for fast cash. If your loan is verified and signed before 2:30 p.m. ET, same-day funding is available.
Read Insider’s full review of Lightstream.
Avant Personal Loan – Product Name Only
LightStream offers lower rates, faster service, and more flexibility than Upstart, but its minimum credit score is high.
Upstart offers only three-year and five-year loans. While the platform has no prepayment penalties, there’s less flexibility in terms than for loans offered by other lenders.
Next-business-day funding is available as long as the personal loan is accepted by 5 p.m. ET.
Read Insider’s full review of Upstart.
Avant Personal Loan – Product Name Only
However, it’s worth noting that this lender charges
Read Insider’s full review of Avant.
Best Egg Personal Loan – Product Name Only
About half of Best Egg’s customers get money the next day after a successful verification process, but it may take one to three business days to see money deposited in your account.
Read Insider’s full review of Best Egg.
LendingPoint Personal Loan – Product Name Only
The application process is fast with LendingPoint, and the company may approve you for a loan the same day you apply. You often get your funds the next business day after approval.
Read Insider’s full review of LendingPoint.
Rocket Loans Personal Loan – Product Name Only
Rocket Loans also has a quick application process, and you can complete it within several minutes.
Read Insider’s full review of Rocket Loans.
OppLoans Personal Loans – Product Name Only
Additionally, you won’t pay any fees with an OppLoans loan, including an origination fee, late fee, or prepayment penalty. Other lenders on our list charge fees.
Read Insider’s full review of OppLoans.
Other Fast Personal Loans We Considered
Not all banks that offer personal loans will fund them quickly. Insider found seven personal loans from reputable lenders that fund loans the same or next business day.
Alliant Credit Union Personal Loan : Alliant has minimum credit score requirements in the mid-600s, the same as Lightstream. However, Alliant’s interest rates are higher than Lightstream’s. Read Insider’s full review of Alliant Credit Union.OneMain Financial personal loans : While this lender is open to those with fair credit, interest rates are relatively high. Lower interest rates and the same next-day funding is available through Avant or Upstart. Read Insider’s full review of OneMain Financial.HSBC personal loans : This lender requires an excellent credit score for approval, but interest rates start higher than with LightStream. Borrowers who aren’t current customers will pay higher interest rates than those who are. Only existing customers can receive same-day loans; non-customers will receive money the next business day.Wells Fargo Personal Loan : While this bank offers same-day funding and a secured loan option for lower interest rates, Wells Fargo’s personal loans are difficult to apply for if you’re not a customer. Read Insider’s full review of Wells Fargo.
Which Quick Loan Lender Is the Most Trustworthy?
The Better Business Bureau, a non-profit organization focused on consumer protection and trust, evaluates businesses using factors like their responsiveness to consumer complaints, honesty in advertising, and clarity about business practices. Here is each company’s score:
| Lender | BBB Grade |
| A+ | |
| A+ | |
| A | |
| A+ | |
| A | |
| A+ | |
| A+ |
All of our three top picks are rated A or higher by the BBB. Keep in mind that a top-notch BBB score does not ensure a positive relationship with a lender. You should keep doing research and talking to others who have used the company to get the most information possible.
Alternatives To Personal Loans for Quick Cash
It’s worth noting that if you have an emergency fund or cash savings, dipping into those resources is a better option than borrowing. If you need to borrow money in an emergency, there are a few other avenues to explore.
Payday alternative loans from a credit union
Not to be confused with traditional payday loans, payday alternative loans are offered by many different credit unions and work with all types of borrowers. Only available to members, these loans are good for anyone needing a small loan, and who can repay it quickly.
According to the National Credit Union Administration, payday alternative loans typically range from $200 to $1,000 and have terms between one and six months. Check with your credit union to see if this option is available, and what interest rates and borrowing amounts are available.
Loans from friends or family
While loans from family or friends aren’t to be taken or made lightly, it could be an option for anyone needing cash quicker than a bank could send it.
If you plan to make or ask for this type of loan, one financial planner recommends putting loan terms and repayment plans in writing, and paying interest if possible.
A 0% interest credit card
If you happen to have (or can open) a 0% interest credit card that’s still within the intro APR term, it could be a useful option for spending. However, you’ll need to repay the balance before the 0% term expires. Most cards have between nine and 21 months of interest-free borrowing.
See our full ratings methodology for personal loans »
How Do I Choose the Best Fast Cash Personal Loan for Me?
To find the best personal loan for fast cash for you, consider the factors that are most important to you. Many borrowers prioritize the speediest funding time, but also take into account the lowest interest rate, any fees, the minimum credit score needed, and the accessibility of the lender’s customer service. You’ll also want to make sure you’re able to select a term length that works for you and that your loan’s purpose is allowed by the lender you choose.
Guides like this one will help you compare multiple lenders in the same place to weigh their pros and cons. Make sure to also read individual reviews of any lenders you’re considering.
Why Trust Our Recommendations?
At Personal Finance Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of dozens of personal loans so you don’t have to.
We understand that “best” is often subjective, however, so in addition to highlighting the pros of a lender’s personal loan, we outline the cons, too.
Methodology
All personal loans considered for this roundup had funding available either same-day or next business day. To find the best personal loans for quick cash, we considered the interest rate, range of loan terms available, and amount available to borrow. To make more effective recommendations, winners were broken down into three different credit score categories. Winners offered the lowest APRs of the competition, and the quickest funding.
Our Experts’ Advice on Choosing the Best Fast Personal Loan
How do borrowers decide on their repayment terms?
Markia Brown:
“Repayment options are important when considering a lender for a loan because some lenders may charge you a fee if you repay your loan early. When you pay your loan off early, it means you pay the lender less in interest. They charge this prepayment penalty to get some of that money anyway. This fee varies by lender and loan type, so keep this in mind when shopping for a lender.”
Ryan Wangman:
“Repayment terms can be crucial in determining the overall cost of your loan. One of the biggest things to watch out for are origination fees. Origination fees are taken out of the total proceeds of your loan and reduce the overall amount of money you receive.”
What makes the best personal loan?
Markia Brown:
“The best personal loans meet your financial needs without exceeding your budget. They have the lowest interest rate and fees, flexible repayment options, and the money is available quickly.”
Ryan Wangman:
“Especially when it comes to fast funding, the best personal loans will get you your cash quickly without saddling you with an overwhelming amount of fees. You’ll also want a lender that has minimum credit score requirements that fit your financial situation.”