Best Fast Personal Loans for Quick Cash of April 2024

LightStream, a division of Truist Financial Corporation, is an online lender that offers same-day personal loans of up to $100,000. They advertise some of the lowest rates (starting at 7.49% as of this writing) and longest repayment terms of the lenders we explored. But you’ll likely need an excellent credit score and a strong credit history to get the best deal. LightStream states it only approves applicants with good to excellent credit.

You can apply for a LightStream personal loan online using your computer, mobile phone or tablet. LightStream does not offer preapprovals — where you can see the interest rate you qualify for without impacting your credit score. So submitting a loan application will trigger a hard credit check that can negatively impact your score.

If you apply during business hours, you can expect a decision quickly. Applicants with good credit are more likely to be approved than those with fair credit, but it’s not guaranteed. You may be able to receive your money the same day if you sign your loan documents, complete final verification and provide your bank information by 2:30 p.m. Eastern time on a banking business day.

SoFi provides same-day personal loans from $5,000 to $100,000 with payoff periods between two and seven years. It offers multiple member discounts and stand-out customer service programs like career coaching and financial planning at no extra cost. SoFi may also offer to pause your payments if you lose your job. Applicants can check their rate without impacting their credit score.

You can apply for a SoFi fast personal loan online and see what interest rate you’re eligible for almost immediately. Choose from repayment periods between two and seven years. Once you’ve reviewed and agreed to all terms, you can sign your documents. Applications signed on a business day before 7 p.m. Eastern time may be funded on the same day.

PenFed Credit Union’s personal loans start at $600, the lowest loan on this list. However, you may be able to borrow up to $50,000, and funding can be available within one to two business days with direct deposit. Anyone can apply for a PenFed loan, but you’ll have to join the credit union before accepting an offer. Members enjoy low interest rates (starting at 7.99% as of this writing) and discounts on several financial products and services.

You can apply for a PenFed fast personal loan online. When checking your rates, you may get a prompt to log in or sign up as a member. You don’t have to be a member to check your rates, but you will have to join the credit union if you decide to move forward with an offer from PenFed.

Once you’re approved and have completed the verification process, you can receive your funds within one to two business days if you select to procure your funds via direct deposit. Physical checks can take up to seven business days.

Discover offers fast personal loans between $2,500 and $40,000, for which borrowers can take up to seven years to pay off. Discover markets some of the lowest interest rates compared to other personal loan lenders we researched, ranging from 7.99% to 24.99% APR as of this writing.

However, the rate you actually get will depend on your financials and other factors. You can see what rate you qualify for without impacting your credit score. Approved and accepted loan applications can get quick funding, often within one business day.

After prequalifying for a Discover personal loan, you can complete your application online and receive a decision on the same day. Once your application is approved and you’ve accepted the loan terms, expect your money within one business day. You can also opt for Discover to pay your creditors directly when using the loan for debt consolidation.

Upstart is a lending marketplace that connects borrowers to banks, credit unions and other financial institutions. But it doesn’t require good credit: Instead, Upstart uses an applicant’s education level and employment experience — in addition to their credit score — to determine their loan rates and terms. So you may be able to qualify even with poor credit. Potential borrowers can apply for loan amounts of up to $50,000 through Upstart and receive funds within the next business day.

Applying for an Upstart fast personal loan starts with checking what interest rate you qualify for and choosing the best offer. Because you’ll likely view offers from multiple lenders, you may want to review the terms of each loan carefully. One lender may charge an origination fee, while another does not. Once you find a deal that works for you, you can expect your money within one business day of accepting the loan agreement.

U.S. Bank offers same-day personal loans between $1,000 and $50,000 at competitive rates. They are ideal for bank switchers because they reserve the best loan terms for existing customers. You’ll need a checking account or another product with U.S. Bank to qualify, so if you’re shopping for a new bank as well, this could be a good option.

Current U.S. Bank customers who meet other qualifications could see their funds within hours. If you’re not a customer, you can still apply for a U.S. Bank loan, but you’re limited to $25,000 — and it can take up to four business days to get your money.

In general, the fastest way to receive a U.S. Bank personal loan is to get a U.S. Bank checking account. Existing customers can check their rates online, submit an application and get a decision in minutes. If approved, you could have your money within hours. But if you’re not a customer, getting your money can take up to four business days. Non-customers also face higher minimum credit score requirements, lower loan amounts and shorter repayment terms.

Upgrade offers personal loans for up to $50,000 that can be deposited into your account as early as the next business day. In addition to an autopay discount, Upgrade offers savings for borrowers who open a Rewards Checking Plus account and have all or a portion of their debt paid directly. Applicants can choose a repayment term of up to seven years.

If you’re interested in an Upgrade fast personal loan, you can check the interest rate you qualify for online. Then, you can choose whichever of the available offers will meet your needs. After your application is approved, any money sent to your bank account could be available within one business day. If you opted for Upgrade to pay your creditors directly, like for debt consolidation, it could take up to two weeks.

Wells Fargo offers personal loans for eligible existing customers at low interest rates, starting at 7.49% APR as of this writing. Approved applicants can borrow between $3,000 and $100,000 and take up to seven years to pay them off, depending on the loan amount. Credit decisions can be made on the same day, with funding often available in one to three business days. Wells also offers what most other lenders don’t: The ability to apply in person, at one of its more than 7,000 branches across the country.

Existing Wells Fargo customers can apply for a personal loan online, over the phone or in person and get an approval decision on the same day. Once approved, you can expect your money within one to three business days after signing your loan agreement. If you’re not a current customer, applying for a personal loan can take longer, as you’ll first need to sign up for a checking account.