Compare personal loans with fast approval

Find a lender that can get you funds the same day you apply.


On a time crunch? In today’s online world, more and more lenders are making it possible to take out a personal loan and receive your funds in as little as 1-2 days. However, you might want to base your loan on more than just speed to find the most competitive deal.

How do fast personal loans work?

Applying for a personal loan is typically the same across lenders — where they differ is how long it takes them to process your application and disburse your loan funds. Online lenders tend to have the quickest process. Many are able to transfer funds to your bank account as soon as the next business day after getting approved, while banks and credit unions usually take longer.

Can I get my loan funds on the same day I apply?

Some lenders do offer same-day funding, but generally, you’ll find most take 1-2 business days to fund your loan. Those that do offer same-day funding usually require you to apply during business hours, and some may even require you to visit a physical branch to complete your application in person.

Compare lenders that offer fast personal loans

Name Product Interest Rate Max. Loan Amount Loan Term Fees Min. Credit Score Link
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
6 months - 5 years
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Fairstone offers unsecured personal loans up to $20,000
Cash Money Installment Loan
6 months - 5 years
Vary across provinces/territories
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Cash Money offers installment loans up to $10,000 for AB, MB and NB residents.
LendDirect Personal Loan
19.99% - 46.93%
No end dates
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Borrow up to $15,000, based on your income and credit history, with a personal line of credit from LendDirect.
LendingMate Personal Loan
43% (British Columbia and Ontario) and 34.90% (Quebec)
1-5 years
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LendingMate offers loans to Canadians with poor credit with no credit checks. Guarantor required for application.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
3-10 years
Varies by province
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Fairstone offers secured personal loans up to $35,000.
Alpine Credits Home Equity Loan
10.00% - 22.99%
Up to 60 months
Between 5% - 8% of your APR will cover closing and admin fees.
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Alpine Credits offer home equity loans in amounts from $10,000 to $500,000. Must be a homeowner to qualify. Check eligibility for this loan through LoanConnect.

Compare up to 4 providers

4 personal loan providers that offer fast personal loans

Not all lenders will allow you to get your funds the same day you apply, let alone within a few hours, but some do. The following loan providers are great to consider if you’re looking for fast approval.

1. Ferratum

  • Loan amount: $5,000 to $100,000
  • APRs: Varies
  • Terms: 3 years to 5 years

With Ferratum, you can receive your money in as little as 1 hour unless you apply after traditional banking hours. In this case, you may receive your funds the next day.

2. LendingMate

  • Loan amount: $1,500 to $20,000
  • APRs: 18% to 35.99%
  • Terms: 2 years to 5 years

LendingMate does not consider applicants’ credit scores when deciding whether to lend funds. Instead, all applicants must apply with a guarantor who agrees to make payments if the loan applicant cannot (home equity is not required to secure a loan). Once a guarantor is accepted, LendingMate can get you funds within 24 hours. The delivery time can be even sooner if the guarantor completes the loan application online, assuming there are no issues.

3. LendDirect

  • Loan amount: $2,000 to $45,000
  • APRs: 7.16% to 29.99%
  • Terms: 3 years to 5 years

If you opt to receive your loan money by Interac e-Transfer, LendDirect can get your funds to you in 2 hours or less. If you choose Direct Deposit instead, you’ll have to wait until the next business day.

4. Cash Money

  • Loan amount: $1,000 to $50,000
  • APRs: 7.35% to 35.99%
  • Terms: 3 years to 5 years

Going directly to a Cash Money location to apply for an installment loan can get you funds immediately (if you’re approved). You can get money in 1 hour or less if you receive funds through Interac e-Transfer instead.

How should I compare fast personal loans?

When choosing between different loan offers, consider these factors in addition to the loan speed to find the best deal:

  • Annual percentage rate (APR). This is the annual cost of a loan and accounts for both interest and fees. Alongside the speed of your loan, it should be a top consideration. After all, it may be worth waiting a week for processing if it means you’ll save thousands of dollars in interest.
  • Loan amount. Not all personal loan providers offer the same range of funding, so you’ll want to first find a lender than can meet your exact borrowing needs. Otherwise, how fast you can get your loan won’t matter.
  • Loan term. This affects the total cost of your loan as well as how much you pay each month. Keep in mind that a fast personal loan may not be worth it if it means you’ll be saddled with a short loan term and unaffordably high monthly repayments.
  • Secured or unsecured. Deciding whether you want to back your loan with collateral or not can help you narrow down providers before looking at how fast you can receive your funds.

What if I don’t qualify for a traditional personal loan?

If you don’t have the credit to qualify for a traditional personal loan, you may want to consider a fast short-term lender instead. These providers can often fund loans in 1-2 days, but be cautious: Payday loans tend to have high APRs that can make repayments difficult to afford.

If you have something to offer as collateral, you can also look into pawn shop loans. You can usually leave the shop with cash the same day you walk in.

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