Upstart: Best for Fair-credit personal loans for thin credit histories
Est. APR
7.80-35.99%
Loan amount
$1K-$50K
Min. credit score
None
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 7 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Alliant Personal Loan: Best for Fair-credit personal loans from a credit union
Qualifications:
Key Facts:Alliant’s personal loans, with a wide range of loan amounts, fast funding and a rate discount, may be a good option for members.Qualifications:- Be an Alliant Credit Union member for at least three months.
- Supply your Social Security number, gross monthly income and employment information.
Available Term Lengths:1 to 5 yearsFees:
Upgrade: Best for Debt consolidation loans for fair credit
Qualifications:
Key Facts:Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more.Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
LendingPoint: Best for Fair-credit personal loans with fast funding
Qualifications:
Key Facts:LendingPoint personal loans are a solid borrowing option for fair- and bad-credit borrowers. They are funded quickly and have some flexible features.Qualifications:- Minimum credit score: 640. LendingPoint uses FICO version 9 and VantageScore version 3.0.
- Minimum credit history: 2 years.
- Maximum debt-to-income ratio: 45%, not including mortgage payments.
- Minimum annual income: $35,000. This lender accepts income from employment, alimony, retirement, child support, Social Security and disability benefits, but not a partner’s income.
- Must be at least 18 years old in most states.
- Must have a Social Security number, a government-issued photo ID and a personal bank account.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
SoFi Personal Loan: Best for Same-day approval, same-day funding
Est. APR
8.99-29.99%
Loan amount
$5K-$100K
Min. credit score
None
Qualifications:
Key Facts:Qualified borrowers will find few lenders better than SoFi, thanks to its zero fees and thoughtful perks like unemployment protection and free financial advising.
Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
LightStream: Best for Same-day approval, same-day funding
Est. APR
6.49-25.29%
Loan amount
$5K-$100K
Min. credit score
660
Qualifications:
Key Facts:LightStream’s low rates and zero fees make it one of the top lenders for borrowers with good or excellent credit.
Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
Rocket Loans: Best for Same-day approval, same-day funding
Qualifications:
Key Facts:Rocket Loans’ personal loans can be inflexible compared with competitors, but they stand out for fast funding.
Qualifications:- Minimum credit score: 640.
- Minimum annual gross income: $24,000.
- Maximum debt-to-income ratio: 40% or 70% including a mortgage.
- Minimum credit history: 2 years.
- Must be at least 18 years old.
- Must be a U.S. resident living in one of the states where the lender does business.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: Up to 9%.
- Late fee: $15.
- Non-sufficient funds fee: $15.
OneMain Financial: Best for Same-day approval, same-day funding
Est. APR
18.00-35.99%
Loan amount
$1.5K-$20K
Min. credit score
None
Qualifications:
Key Facts:OneMain prioritizes a borrower’s ability to repay on a loan application. Rates are high, but this lender accepts low credit scores.
Qualifications:- Must have a taxpayer identification number.
- Must be 18 or older in most states.
- Minimum credit score: None.
- Minimum credit history: None; this lender prefers some minimal credit history.
- Minimum number of accounts on credit report: 1 active account.
- Minimum income: None, but borrowers must have sufficient disposable income to make the monthly loan payment. This lender accepts income from employment, alimony, retirement, child support and Social Security payments.
Available Term Lengths:2 to 5 yearsFees:- Origination: $25 to $500 or 1% to 10%.
- Late fee: $5 to $30 or 1.5% to 15% of the payment amount, depending on your state.
- Nonsufficient funds fee: $10 to $50.
Discover® Personal Loans: Best for Same-day approval, next-day funding
Qualifications:
Key Facts:Discover’s online experience, strong customer support and borrower perks make it a top lender for good- and excellent-credit applicants.
Qualifications:- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
Available Term Lengths:3 to 7 yearsFees:- Origination fee: None.
- Late fee: $39.
Universal Credit: Best for Approval in a couple of days, next-day funding
Est. APR
11.69-35.99%
Loan amount
$1K-$50K
Min. credit score
580
Qualifications:
Key Facts:Universal Credit personal loans have a low minimum credit score requirement, credit-building features and perks for debt consolidation. The lender charges high rates but offers autopay and debt consolidation discounts.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
Avant:
Est. APR
9.95-35.99%
Loan amount
$2K-$35K
Min. credit score
550
Qualifications:
Key Facts:Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high.Qualifications:- Minimum credit score: 550. Avant uses FICO score version 8.0 and VantageScore version 3.0 from TransUnion.
- Minimum monthly net income: $1,200. This lender accepts income from employment alimony, retirement, child support, Social Security payments or disability benefits.
- Must be a resident of a state where Avant’s loans are available.
- Must provide a Social Security number.
- Must have a personal bank account in your name.
- No active bankruptcies.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: Up to 9.99%.
- Late fee: $25.
- Nonsufficient funds fee: $15.
Upstart: Best for Fair-credit personal loans for thin credit histories
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 7 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Alliant Personal Loan: Best for Fair-credit personal loans from a credit union
Qualifications:
Key Facts:Alliant’s personal loans, with a wide range of loan amounts, fast funding and a rate discount, may be a good option for members.Qualifications:- Be an Alliant Credit Union member for at least three months.
- Supply your Social Security number, gross monthly income and employment information.
Available Term Lengths:1 to 5 yearsFees:
Upgrade: Best for Debt consolidation loans for fair credit
Qualifications:
Key Facts:Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more.Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
LendingPoint: Best for Fair-credit personal loans with fast funding
Qualifications:
Key Facts:LendingPoint personal loans are a solid borrowing option for fair- and bad-credit borrowers. They are funded quickly and have some flexible features.Qualifications:- Minimum credit score: 640. LendingPoint uses FICO version 9 and VantageScore version 3.0.
- Minimum credit history: 2 years.
- Maximum debt-to-income ratio: 45%, not including mortgage payments.
- Minimum annual income: $35,000. This lender accepts income from employment, alimony, retirement, child support, Social Security and disability benefits, but not a partner’s income.
- Must be at least 18 years old in most states.
- Must have a Social Security number, a government-issued photo ID and a personal bank account.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
SoFi Personal Loan: Best for Same-day approval, same-day funding
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Qualified borrowers will find few lenders better than SoFi, thanks to its zero fees and thoughtful perks like unemployment protection and free financial advising.
Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
LightStream: Best for Same-day approval, same-day funding
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:LightStream’s low rates and zero fees make it one of the top lenders for borrowers with good or excellent credit.
Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
Rocket Loans: Best for Same-day approval, same-day funding
Qualifications:
Key Facts:Rocket Loans’ personal loans can be inflexible compared with competitors, but they stand out for fast funding.
Qualifications:- Minimum credit score: 640.
- Minimum annual gross income: $24,000.
- Maximum debt-to-income ratio: 40% or 70% including a mortgage.
- Minimum credit history: 2 years.
- Must be at least 18 years old.
- Must be a U.S. resident living in one of the states where the lender does business.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: Up to 9%.
- Late fee: $15.
- Non-sufficient funds fee: $15.
OneMain Financial: Best for Same-day approval, same-day funding
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:OneMain prioritizes a borrower’s ability to repay on a loan application. Rates are high, but this lender accepts low credit scores.
Qualifications:- Must have a taxpayer identification number.
- Must be 18 or older in most states.
- Minimum credit score: None.
- Minimum credit history: None; this lender prefers some minimal credit history.
- Minimum number of accounts on credit report: 1 active account.
- Minimum income: None, but borrowers must have sufficient disposable income to make the monthly loan payment. This lender accepts income from employment, alimony, retirement, child support and Social Security payments.
Available Term Lengths:2 to 5 yearsFees:- Origination: $25 to $500 or 1% to 10%.
- Late fee: $5 to $30 or 1.5% to 15% of the payment amount, depending on your state.
- Nonsufficient funds fee: $10 to $50.
Discover® Personal Loans: Best for Same-day approval, next-day funding
Qualifications:
Key Facts:Discover’s online experience, strong customer support and borrower perks make it a top lender for good- and excellent-credit applicants.
Qualifications:- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
Available Term Lengths:3 to 7 yearsFees:- Origination fee: None.
- Late fee: $39.
Universal Credit: Best for Approval in a couple of days, next-day funding
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Universal Credit personal loans have a low minimum credit score requirement, credit-building features and perks for debt consolidation. The lender charges high rates but offers autopay and debt consolidation discounts.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
Avant:
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high.Qualifications:- Minimum credit score: 550. Avant uses FICO score version 8.0 and VantageScore version 3.0 from TransUnion.
- Minimum monthly net income: $1,200. This lender accepts income from employment alimony, retirement, child support, Social Security payments or disability benefits.
- Must be a resident of a state where Avant’s loans are available.
- Must provide a Social Security number.
- Must have a personal bank account in your name.
- No active bankruptcies.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: Up to 9.99%.
- Late fee: $25.
- Nonsufficient funds fee: $15.
How to get a fast personal loan
There are a few steps you can take to prepare for your loan application to help move it along quickly:
Gather documentation: Know what you need to apply for the loan so the lender can easily verify your identity, income and other information. Lenders often say their ability to fund a loan quickly depends on borrowers’ responsiveness to requests for documentation.
Calculate estimated payments: Use a personal loan calculator to see how credit score and the length of the loan term can affect monthly payments. Then consider how the estimated monthly payment may impact your budget.
Pre-qualify and compare loans: Pre-qualifying for a personal loan helps lenders understand your creditworthiness and shows you how much you may qualify for. It doesn’t guarantee you a loan, but it can help you compare loans without affecting your credit score. It’s a good idea to research lenders to identify loans with the lowest rate. This may mean looking at your bank, local credit union and online lenders for comparison.
Apply: You can apply for a personal loan in person or online, depending on your lender. Smaller banks and credit unions may request in-person applications, while online lenders offer web-based applications. You can typically get a decision within a day after submitting all the necessary information. If you're approved, expect to receive the funds in your bank account within a day or two.
Fast loans online
Online lenders can be a convenient and fast option for personal loans. Many online lenders let you pre-qualify to estimate your rate without affecting your credit score. They often let you apply, receive the money and make payments completely online.
Online loans typically have annual percentage rates from 6% to 36%, and loan amounts range from $1,000 to $100,000. Researching lenders to find one that matches your needs and credit score can expedite the application process. Lenders like Discover and LightStream can be options for those with good or excellent credit (credit score of 690 or higher), while Upstart and Upgrade accept borrowers with fair or bad credit (credit score of 689 or lower).
» COMPARE: Best online personal loans
Fast credit union loans
Some federal credit unions can fund personal loans quickly. Alliant Credit Union, for example, funds loans the same day, though you’ll need to become a member before you apply.
Federal credit unions cap annual percentage rates at 18% on personal loans. Credit unions may also use an applicant's history as a member to inform loan decisions, so if you've been in good standing with a credit union for a while, that may be a factor in a loan decision.
Fast loans for bad credit
Some lenders offer fast loans for borrowers with bad credit (629 or lower credit score). If you have bad credit, a low debt-to-income ratio and proof of stable income will help you qualify.
Your credit score doesn't affect how long it takes for a lender to fund your loan, but your loan is likely to have a high APR, and you may not be approved for a large loan amount.
Though many online lenders can fund loans quickly, take the time to compare bad-credit loans before borrowing and make a plan to repay the loan.
» MORE: See your bad-credit loan options
Fast cash without a loan
Before you borrow — and especially if the rate you pre-qualify for is high — see if you can delay the expense or find an interest-free cash source. NerdWallet recommends trying all these cheaper alternatives before taking a high-cost loan:
Seek assistance from local nonprofits, charities and religious organizations.
Use a cash advance app to borrow a small amount from your next paycheck.
Get a pawnshop loan secured by something you own.
Try other ways to make money.
If you are comfortable with it, ask family and friends for a loan through lending circles or a loan agreement.
Next step: Pre-qualify on NerdWallet
When you pre-qualify, you get the chance to compare rates, loan features and terms. Pre-qualifying on NerdWallet with our lender partners won’t affect your credit score.
Last updated on August 1, 2023
Frequently asked questions
Some lenders say they can approve a loan application in minutes and fund a loan in a day or two of approval, while others may take a few days for each. Generally, you should expect to get the funds from a loan within a week of approval.
It is safe to get a loan from an online lender; you just need to choose a reputable lender. Features like no credit checks and annual percentage rates above 36% should be red flags. Know the signs of predatory loans to avoid a debt trap.
A credit union may be the best option for bad-credit borrowers. They offer lower rates on loans and look at more than just your credit score when reviewing your application. But they may not be your fastest funding option.
A bad credit loan from an online lender that caps rates at 36% may be deposited in your account more quickly. Online lenders typically report your payments to credit bureaus, which can help you build credit. If your timeline is a little flexible, choose the loan with the lower rate and monthly payments you can afford over the quick loan.
How we chose the best personal loans
35+
Lenders reviewed
25+
Categories assessed
70+
Data points analyzed
Star rating categories
5.0
Overall score
NerdWallet's Fast Personal Loans: Best Lenders for Quick Cash
- Upstart: Best for Fair-credit personal loans for thin credit histories
- Alliant Personal Loan: Best for Fair-credit personal loans from a credit union
- Upgrade: Best for Debt consolidation loans for fair credit
- LendingPoint: Best for Fair-credit personal loans with fast funding
- SoFi Personal Loan: Best for Same-day approval, same-day funding
- LightStream: Best for Same-day approval, same-day funding
- Rocket Loans: Best for Same-day approval, same-day funding
- OneMain Financial: Best for Same-day approval, same-day funding
- Discover® Personal Loans: Best for Same-day approval, next-day funding
- Universal Credit: Best for Approval in a couple of days, next-day funding
- Avant
