Fast Personal Loans: Best Lenders for Quick Cash

Key facts

Pros

• No fees.

• Competitive rates among online lenders.

• Offers .5% rate discount for setting up autopay.

• Special features including rate beat program and satisfaction guarantee.

Cons

• No option to pre-qualify on its website.

• Requires several years of credit history.

• Does not offer direct payment to creditors with debt consolidation loans.

Qualifications

• Minimum credit score: 660.

• Several years of credit history.

• Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

• Strong payment history with few or no delinquencies.

• Investments, retirement savings or other evidence of an ability to save money.

• Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Late fee: None.

Disclaimer

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. AutoPay discount of .50% points is only available when selected prior to loan funding. Rates without AutoPay will be .50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 6.14% APR with a term of 3 years would result in 36 monthly payments of $304.85. Truist Bank is an Equal Housing Lender. ©2021 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.

Key facts

Pros

• Soft credit check with pre-qualification.

• Option to choose and change your payment date.

• Can fund a loan the business day after approval.

Cons

• No co-signed, joint or secured loan option.

• Rates are high compared to other bad-credit lenders.

• Reports payments to two of the three major credit bureaus.

• Does not offer direct payment to creditors with debt consolidation loans.

Qualifications

• Minimum credit score of 580; average is 673.

• No minimum income; average customer earns $80,000.

• Debt-to-income ratio of less than 50%, not including mortgage; average customer's ratio is 13%.

Available Term Lengths

2 to 4 years

Fees

• Origination fee: 0% - 6%.

• Late fee: $30 after 15-day grace period.

Disclaimer

Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint's final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 15.49% APR to a high of 34.99% APR, with terms from 24 to 48 months.

Key facts

Pros

• No origination fee.

• Offers direct payment to creditors with debt consolidation loans.

• Offers mobile app to manage loan.

• Able to fund loans within one business day.

• Wide variety of repayment term options.

Cons

• Charges late fee.

• No co-signed, joint or secured loan options.

• No rate discount for autopay.

Qualifications

• Minimum credit score: 720; borrower average is 750.


• Must be a U.S. citizen or permanent resident.

• Must be at least 18 years old.

• Must have a minimum household income of $40,000.

Available Term Lengths

3 to 7 years

Fees

• Origination fee: None.

• Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 5.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

Key facts

Pros

• Option to choose your payment date.

• Offers joint and secured loans.

• Able to fund a loan the same or next business day.

• Offers direct payment to creditors on debt consolidation loans.

Cons

• Rates are high compared to other online lenders.

• Charges origination fee.

• No rate discount for autopay.

Qualifications

• Minimum credit score: None.

• Minimum income: None; average is $45,000.

Available Term Lengths

2 to 5 years

Fees

• Origination fee: $25 to $400 or 1 - 10%.

Disclaimer

Not all applicants will qualify for larger loan amounts or most favorable loan terms. 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). 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. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. 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 $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; 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. 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. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

Key facts

Pros

• Soft credit check with pre-qualification.

• Competitive rates among fair-credit lenders.

• Offers a 0.3% rate discount for setting up autopay.

• Able to fund loans the same day.

• Offers small loans of $2,000.

Cons

• Charges origination fee.

• Does not offer direct payment to creditors with debt consolidation loans.

• No option to choose or change your payment date.

• Borrowers can choose from only two repayment term options.

• No co-sign, joint or secured loan option.

Qualifications

• Minimum credit score: 640; borrower average is 710.

• Minimum credit history: Over two years.

• Minimum annual income: $24,000; borrower average is $85,000.

• Maximum debt-to-income ratio: 40% or 70% including mortgage; borrower average is 14%.

• Must be at least 18 years old (19 in Alabama and Nebraska).

• Must provide Social Security number.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 1% to 6%.

• Late fee: $15 after 10-day grace period.

• Unsuccessful payment fee: $15.

Disclaimer

All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state required disclosures, licenses, and lending restrictions. Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval. Offered loan terms depend upon your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Please refer to RocketLoans.com and our Terms of Use for additional terms and conditions.

Key facts

Pros

• Soft credit-check with pre-qualification.

• Offers 0.25 percentage point rate discount for setting up autopay.

• Reports payments to all three credit bureaus.

• Offers mobile app to manage loan.

Cons

• May charge origination fee.

• No option to choose or change your payment date.

• No co-sign, joint or secured loan options.

• Borrowers can only choose from two repayment terms.

Qualifications

• Minimum credit score: 680; borrower average is 710.

• Maximum debt-to-income ratio: 60% excluding housing expenses; borrower average is 39% including a Figure loan.

• Minimum monthly cash flow (income minus expenses) of $1,000 after signing the loan agreement.

• Must have a valid government-issued U.S. ID.

• Must be at least 18 years old.

• Must be a U.S. citizen or permanent resident.

• Must be employed.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 0% - 3%.

Key facts

Pros

• Allows secured and joint loans.

• Offers a wide range of repayment terms.

• Offers a 0.5% rate discount for setting up autopay.

• Offers significant rate discount for checking account customers.

• Offers rate discount with direct payment to creditors on debt consolidation loans.

Cons

• Charges origination fee.

• No co-signed loan option.

Qualifications

• Minimum credit score: 560; borrower average is 678.

• Minimum annual income: None; borrower average is $78,000.

• Minimum number of accounts on credit history: Two accounts.

• Maximum debt-to-income ratio: Less than or equal to 75%, including mortgage and calculating in your new personal loan.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 5.94%-35.47%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. 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/. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Key facts

Pros

• Offers rate discount with direct payment to creditors on debt consolidation loans.

• Option to change your payment date.

• Offers free credit score access.

• Offers a .5% rate discount for setting up autopay.

Cons

• Charges origination fee.

• No co-sign, joint or secured loan option.

Qualifications

• Minimum credit score: 560.

• Minimum number of accounts on credit history: 2 accounts.

• Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 4.25% to 8%.

• Late fee: Up to $10.

Disclaimer

Personal loans made through Universal Credit feature APRs of 8.93%-35.93%. All personal loans have a 4.25% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 27.65% APR (which includes a 22.99% yearly interest rate and a 6% one-time origination fee), you would receive $9,400 in your account and would have a required monthly payment of $387.05. Over the life of the loan, your payments would total $13,933.62. 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.