5 lenders that offer loans in 24 hours or less
These online lenders can fund your loan in one business day after you sign your loan agreement. In some cases, you can get your money as soon as the same day you apply.
LightStream personal loans
4.8 / 5
★★★★★
LightStream is an online lender with some of the most competitive interest rates available. You can get your loan the same day you apply — if you sign the document agreeing to the terns and conditions of the loan by 2:30 p.m ET. But it’s one of the few online lenders that doesn’t let you check the rate you might qualify for without affecting your credit score — called preapproval. Its eligibility requirements are also stricter than other online lenders like Upstart.
*Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of 3 years would result in 36 monthly payments of $303.99.
Truist Bank is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Pros
- Same-day funding available
- Wide range of repayment terms
- Loans up to $100,000
Cons
- No loans under $5,000
- No preapproval process
- No customer service number listed online
| Loan amount | $5,000 to $100,000 |
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| APR | 7.49% to 25.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | Good to excellent credit |
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| Turnaround Time | As soon as same day |
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| Maximum Loan Term | 12 years |
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| Minimum Loan Term | 2 years |
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| APR | 7.49% to 25.99% |
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| Min. credit score | Good to excellent credit |
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| Loan amount | $5,000 to $100,000 |
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OneMain Financial personal loans
3.4 / 5
★★★★★
OneMain Financial can fund a loan within one hour of approval — as long as you have a debit card that was issued by a bank. It’s also one of the only lenders that accepts bad credit, which is usually defined as a credit score below 580. This makes it a good alternative to other bad credit options like payday loans, which can come with rates upwards of 400% APR. But you may be able to find less-expensive options if you have a credit score over 580. Its starting APR is about twice the average interest rate on a personal loan — around 9% according to the Federal Reserve.
- Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
* OneMain Disclosures:
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
Pros
- One-hour funding
- Accepts poor credit
- No prepayment penalties
Cons
- Origination fee of up to 10%
- High minimum APR
- Secured loans may be slower
| Loan amount | $1,500 to $20,000 |
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| APR | 18% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | Not specified |
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| Turnaround Time | As soon as the same business day |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 2 years |
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| APR | 18% to 35.99% |
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| Min. credit score | Not specified |
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| Loan amount | $1,500 to $20,000 |
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Upstart personal loans
4.2 / 5
★★★★★
With Upstart, you can receive your funds as soon as the next day if you accept your loan offer before 5 p.m. on a weekday. Otherwise, it can take two business days to get your funds. Even that’s significantly faster than a bank loan, which can take weeks. And because this lender considers factors like education and career, you can still qualify if you have a fair credit score — usually defined as a credit score between 580 and 670. But where most lenders only charge an origination fee of up to 5%, Upstart's reach 12%. Like most lenders, Upstart deducts this fee from the loan before sending over the funds, so you'll receive less money than you're approved for. And if you want to fund an education-related expense, it can take three more days.
- Not available in: West Virginia
Pros
- Next-day funding
- Accepts fair credit
- No prepayment penalty
Cons
- Potentially high origination fee
- Only offers 36 or 60 months terms
- Longer turnaround for education loans
| Loan amount | $1,000 to $50,000 |
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| APR | 7.80% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 300 |
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| Turnaround Time | 1 to 3 business days |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 3 years |
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| APR | 7.80% to 35.99% |
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| Min. credit score | 300 |
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| Loan amount | $1,000 to $50,000 |
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Upgrade personal loans
4 / 5
★★★★★
Upgrade can fund most loans within one business day after approval — if you’re sending the money to your account. For debt consolidation, it can take up to two weeks to clear, depending on your creditor’s policies. Like Upstart, this may be a good option for fair credit borrowers who have at least $1,000 in monthly income after covering bills. But it also has a high origination fee that can reach , which it also deducts from the loan funds.
- Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% 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 17.98% APR (which includes a 14.32% 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 $343.33. Over the life of the loan, your payments would total $12,359.97. 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 lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/.
Pros
- Fair credit OK
- Next-day funding
- No prepayment penalty
Cons
- Long turnaround for debt consolidation
- Potentially high origination fee
- Requires monthly cash flow of $1,000
| Loan amount | $1,000 to $50,000 |
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| APR | 8.49% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 620 |
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| Turnaround Time | 1 to 4 business days |
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| Maximum Loan Term | 7 years |
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| Minimum Loan Term | 2 years |
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| APR | 8.49% to 35.99% |
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| Min. credit score | 620 |
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| Loan amount | $1,000 to $50,000 |
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Rocket Loans personal loans
3.8 / 5
★★★★★
True to its name, Rocket Loans can fund your loan as soon as the same day you apply — as long as you accept your loan offer by 1 p.m. ET on a business day. This makes it one of the fastest lenders out there. But all borrowers pay an origination fee of 1% to 6% which Rocket Loans deducts from your balance before sending over the funds on the loan. If you have an excellent credit score of over 760, you may be able to qualify for a loan from a lender that doesn't charge origination fees — but it may take longer.
- Not available in: Iowa, Nevada
Pros
- Same-day funding available
- Quick online application
- No prepayment penalty
Cons
- Origination fee deducted from balance
- Only offers terms of 3 or 5 years
- No loans over $45,000
| Loan amount | $2,000 to $45,000 |
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| APR | 9.116% to 29.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 640 |
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| Turnaround Time | As soon as the same day |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 3 years |
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| APR | 9.116% to 29.99% |
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| Min. credit score | 640 |
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| Loan amount | $2,000 to $45,000 |
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Consider these factors to find a fast personal loan
When speed is your top priority, compare these factors to make sure you’re getting the best loan to fit your needs:
- Turnaround time it takes to get a loan from the moment you start the application to the moment the money shows up in your bank account. Most online lenders prominently display this on their website — or in their frequently asked questions.
- Eligibility requirements are a lender’s minimum requirements to qualify for a personal loan. For faster approval, avoid lenders where you just barely make the cutoff for credit score and income.
- Annual percentage rate (APR) tells you the percentage of your loan balance that you pay in interest and fees over one year. It’s the fastest way to compare cost on loans with the same term.
- Loan amounts tell you the minimum and maximum available through a lender. Eliminate all lenders that don’t offer the amount that you need.
- Monthly payments are how you’ll have to repay the lender each month. Most lenders will give you an estimate of the monthly after you prequalify for a loan. If not, use a personal loan calculator to estimate payments from your top choice.
Fast personal loans work by automating the application
Fast personal loans usually work by using software to process your application. This cuts down the processing time from days to minutes. And it means that the speed of the application depends on you, the borrower. The faster you’re able to upload documents your lender needs to verify the information in your application, the faster you’ll receive the money.
Generally, lenders with online applications are faster than a lender that asks you to apply at a branch in person.
Who can get the fastest personal loans?
Some borrowers have an easier time getting money than others. Lenders typically prefer to work with people who work full-time, have few other debts and good credit — that’s a credit score above 670. But some borrowers can have a hard time qualifying for a loan quickly:
- Self-employed applicants may have a more difficult time verifying their income.
- Hourly workers with irregular shifts can also have a hard time verifying their income.
- Anyone applying for a large loan amount may also have a hard time getting a loan quickly. Lenders tend to take extra precautions if you apply for a loan close to the maximum amount available because repayments last several years.
5 ways to get a personal loan faster
While turnaround time varies depending on the applicant and the lender, there are a few ways to speed up the time it takes for a personal loan:
- Apply in the morning. If you sign off on your loan by the early afternoon, you can sometimes receive the funds through a bank transfer the same day at no additional charge.
- Use an online marketplace like Fiona, which allows you to prequalify with multiple lenders with only one form. This allows you to quickly choose a provider based on personalized offers, rather than the general range of rates, fees and terms a lender offers.
- Consider a lender that you already have a checking account with. They’re already familiar with your finances and can immediately put the money in your account without having to bother with sending funds between banks.
- Have all of your documents ready before you apply, such as last year’s tax returns, bank statements and statements from other loan or credit card accounts that you’re paying off. That way you won’t have to go scrambling to find the information you need.
- Pay for a wire transfer or ask if the lender can send the funds directly to your debit card if a same-day bank transfer is not an option. This can get you money in a few hours — though there may be a $15 fee for wire transfers.
Alternatives to fast personal loans
For people with bad credit or irregular income, a personal loan can take longer than other options. If you can’t qualify with a lender that offers fast funding, an alternative may be better.
- Pay advance apps let you access wages you’ve already earned and are made for hourly workers. Often these apps also offer financial wellness services like credit score tracking and help building up an emergency fund.
- Some employers also offer paycheck advances directly through a payroll software provider like Gusto or an employer-based pay advance provider like PayActiv.
- Short-term lenders like payday loan providers can also offer same-day funding if you apply in person at a branch. But these can come with APRs upwards of 400%. While these often have terms of 30 days or less, a Consumer Financial Protection Bureau study found that most borrowers take at least 11 months to pay off a payday loan.
Visit our guide to personal loans to learn more about how this type of financing works. If personal loans aren’t your best option, check short-term loan alternatives for more resources.
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