Best Fast Personal Loans

With Rocket Loans you can get up to $45,000 as soon as the same day you apply. According to the lender, same-day funding is available to customers who complete the loan process and sign the promissory note by 1 p.m. Eastern Time on a business day. Rocket Loans will disburse your funds via ACH transfer directly to your bank account (but your access to the funds will depend on your bank, as well). 

You can check your eligibility for a loan in minutes without affecting your credit score, and you can lower your interest rate by taking advantage of Rocket Loans’ autopay discount. 

However, Rocket Loans does charge an origination fee of up to 8% that is deducted from your loan amount. Its loans are made through a third party, Cross River Bank, and it doesn’t issue loans to residents of Iowa, Nevada, or West Virginia.

• Must be a U.S. resident
• Must be at least 18 years old
• Available in all states except Iowa, Nevada, and West Virginia

Out of all the lenders we reviewed, LightStream offers the lowest potential rates (as of publication). Plus, LightStream offers loans as high as $100,000, and you can choose a term as long as 12 years for some loan uses, like home improvement. LightStream doesn’t charge origination fees or late fees, and it allows borrowers to apply with co-applicants.

LightStream’s loans can be disbursed as soon as the same day you apply. Same-day funding is available to customers if their application is approved, they sign the loan agreement, and they complete the verification process by 2:30 p.m. ET. 

LightStream’s rates vary based on intended loan use. For example, rates for swimming pool loans tend to start lower than those of debt consolidation loans. And the longest loan terms—those longer than seven years—are only available on certain loan types. 

To qualify for a LightStream loan, you must have very good or excellent credit (or a co-applicant who does). 

• Be at least the age of majority in your state
• Be a U.S. citizen, eligible permanent resident, or non-permanent resident alien
• Reside in one of the 50 U.S. states or Washington, D.C. 
• Minimum recommended credit score of 680
• Qualify based on financial history, credit score, and other factors

If you have good to excellent credit—meaning a FICO score of 670 to 850—SoFi could be an excellent choice. It issues loans as high as $100,000 without origination fees, and it disburses the money as soon as the same day you apply. 

According to SoFi, 86% of typical loan applications that were signed before 7 p.m. ET on a business day were funded the same day (throughout most of 2021). 

However, larger loans, such as those for over $20,000, may require additional underwriting review time, so loan funding may not be until the next business day. 

SoFi doesn’t disclose its minimum credit score requirement for personal loans, but according to its latest annual report, the weighted average FICO score for originated loans was over 750. 

• Available in all states and Washington, D.C.
• Must be 18 years or older
• Must be a U.S. citizen, permanent resident, or non-permanent alien resident

As a credit union, First Tech Federal Credit Union offers competitive rates and doesn’t charge origination fees. And while lenders like SoFi and LightStream have loan minimums of $5,000, First Tech’s minimum is much lower; you can borrow as little as $500 to cover small emergency expenses. 

Co-signed loans are available, so you can apply with someone who has better credit, if necessary, to qualify for a larger loan or a lower interest rate than you’d get on your own. 

Depending on the loan amount and your credit, you could receive your loan funds as soon as the same day or the next day after applying. But for larger loan amounts or those with less-than-perfect credit, it can take two or three business days to disburse your loan funds. 

You must be a credit union member or become a member before applying for a loan. 

• Must be the age of majority in your state
• Must be a member of First Tech FCU

To join First Tech FCU, you must meet one of the below criteria: 

• Have a family or household member that is a current member of First Tech FCU
• Work for one of the credit union’s partner employers 
• Work or live in Lane County, Oregon
• Belong to the Computer History Museum or the Financial Fitness Association (you can join online; digital memberships start at $15 per year)

If you’re currently a customer with a large bank, you may qualify for personal loans with attractive terms from the same bank.

U.S. Bank is a leading example. Existing customers can borrow up to $50,000 and have up to seven years to repay the loan. Plus, it doesn’t charge origination fees, and qualifying borrowers can receive their loan funds in as little as one day. 

Non-customers can still take out loans, but U.S. Bank offers lower loan maximums and shorter repayment terms for non-customers. And non-customers must visit a local branch to close the loan. U.S. Bank doesn’t operate branches in every state, so the in-person requirement can be a major hurdle. 

• Must have a credit score of 660 or higher (higher for non-customers)
• Must be the age of majority in your state
• Must live in a state where U.S. Bank operates

LendingClub could be useful if you’re looking for fast personal loans with bad credit. It’s one of the few personal loan companies that allow you to apply with a co-borrower, so you can add someone with good credit and reliable income as a joint applicant. A joint application improves your odds of qualifying for a loan, and you may qualify for a larger loan amount or lower rates than you’d get on your own. 

According to the lender, on average, loans are disbursed within 42 hours of loan approval. And approximately 37% of its loans are funded within 24 hours of loan approval. 

However, LendingClub does have relatively high APRs, which is typical of lenders that cater to those with less-than-perfect credit. And LendingClub charges origination fees as high as 6% of the loan amount. 

• Must be a U.S. citizen or permanent resident, or living in the U.S. on a long-term visa
• Must be at least 18
• Must have a verifiable bank account