Best Same-Day Loans in July 2025

If you need money now, consider a same-day loan. Same-day loans can take many forms, including a credit card cash advance, a cash app advance, a BNPL purchase, or a personal loan. Of these, personal loans are the best same-day loans because loan amounts are higher, interest rates are generally much lower, and you have longer to pay the loan back (meaning smaller monthly payments).

Compare personal loan rates

Best same-day loans

Though you can get same-day personal loans, not all lenders offer them. Here are three that do. Just be sure to apply before the lender’s same-day funding cutoff time (see chart below).

Approximate cutoff times for same-day lending

Methodology

Credible chose the best same-day loans out of 31 partner and non-partner lenders based on customer experience, interest rates, origination fees, loan amounts, loan terms, discounts, the availability of secured loans, whether joint loans are offered, and more. 

All lenders selected can fund approved loans as soon as the same day you apply, provided you apply by that lender’s cutoff time for same-day funding. Credible's team of experts gathered information from each lender's website, directly from our partners, and via internal documentation. Each data point was verified by a senior editor to make sure it was accurate and up to date.

We chose the best lenders based on the following weighted categories:

• Rates and fees: 18%
• Loan terms: 18%
• Customer experience: 17%
• Eligibility: 14%
• Customer satisfaction: 10%
• Efficiency: 10%
• Options for poor credit and no credit: 9%
• Discounts: 4%

Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.

How to compare same-day personal loans

Given that there are different types of same-day loans and different purposes for getting one, there are a few factors to consider when deciding between them.

APR

The most important feature to compare between same-day loans is APR. The APR, or annual percentage rate, is a measure of how much the loan costs on an annual basis, inclusive of the interest rate and upfront fees. This is important because some zero-interest or no-interest loans charge steep fees relative to the amount borrowed and the timeline for repayment, which can make them much more expensive and difficult to repay than an interest-charging personal loan.

APR example (cash advance app)

For example, you might borrow $250 via a cash app and have the money deposited into your account instantly. But since most cash apps charge instant transfer fees or fees to expedite delivery, you’d need to account for that in the total cost of the loan. A regular personal loan calculator won’t get you there, but you can use a payday loan calculator or another calculator for short-term loans to figure out the APR. 

• Amount borrowed: $250
• Instant transfer fee: $5.99
• Payment due in two weeks
• APR: 62.5%
• APR with $5 tip: 114.6%

The 62.5% APR associated with the cash advance above makes this an expensive way to borrow — it’s even more expensive if you add a tip. (The instant transfer fee is based on Earnin’s fees for expedited delivery.)

What are same-day loans and how do they work?

Same-day loans can be approved and funded on the same day you apply. In other words, you could apply for a loan in the morning, be approved in the afternoon, and receive the money before evening. Some same-day loans, like cash advances via an app, your credit card, and payday loans, are nearly instant. But they typically have much higher rates than personal loans and shorter payback periods — which could lead to a cycle of repeat borrowing. 

Personal loan interest rates (by credit score)

Personal loan interest rates vary primarily based on your credit score. Check out the table below to get an idea of the rate you might get. Keep in mind even for bad credit and fair credit, personal loan rates are still often much lower than payday loans (over 600% APR in some states), cash advance apps (367% APR), and credit card cash advances (around 30% variable APR). 

Types of same-day loans

Here are the most common types of same-day loans:

• Personal loans: Personal loans have a fixed interest rate and term, and payments are made in equal monthly installments. Personal loans deliver a lump sum to your bank account and typically don’t require collateral, unlike a home loan or auto loan. Loan amounts range from under $1,000 to over $50,000, depending on the lender and what you can qualify for. Repayment terms typically last up to 7 years.
• Payday loans: Payday loans are typically two-week loans for less than $500. Repayment is deducted from your bank account when your next paycheck is deposited. Payday loans have been widely criticized by lawmakers and consumer advocates because of exploitative costs and lending practices — APRs commonly range up to and over 400%, depending on your state. Even if you have bad credit or no credit, there are better options. 
• Cash-advance apps: Cash-advance apps such as Chime MyPay, EarnIn Cash Out, and Empower use your banking history to determine how much you can borrow, which are potentially less costly versions of payday loans. Funds can be available within minutes, but that will cost you. Cash apps are generally not recommended if you need to pay for instant delivery or have an ongoing need for cash.
• Buy now, pay later apps: BNPL companies such as Affirm, Afterpay, and Klarna commonly let you split a purchase into four equal payments, with an initial down payment, then due every two weeks with no interest. Longer terms are also available, but often carry interest charges similar to personal loans. 
• Pawnshop loans: You might borrow money from a local pawnshop based on the value of an item you own, such as a wedding ring or laptop. What you think your item may be worth, however, is likely much more than what the pawnshop will, and you’ll only be able to borrow a portion of its assessed value. If you don’t repay the loan, you’ll lose your item.

Same-day loan interest rates and repayment terms

Depending on the type of same-day loan you get, your overall cost can vary greatly. As can the amount you can borrow and the amount of time you have to pay it back. Generally speaking, the lower the APR, the lower the cost.

Pros and cons of same-day loans

The pros and cons of same-day loans depend on the type of same-day loan you get. We break it down below:

Same-day personal loans

Small same-day loans

These loans include payday loans and cash advance apps, as well as some pawnshop loans.

How to apply for a same-day personal loan

If you've never borrowed money or you've only used other forms of short-term borrowing, it might feel uncomfortable applying for a same-day personal loan. Getting familiar with the application process before you go through it may help. Here's what you'll need to do:

1. Prequalify: Through a simple online prequalification process, you can find out which lenders are more likely to approve your application. Just enter some basic personal information and you'll get an estimate of the APR, loan amount, and repayment terms you might qualify for. (Click any “Check Rates” button in this article to see which Credible partners might approve you.) Prequalification doesn’t affect your credit score, but a personal loan application that involves a hard credit inquiry — which is typical — could lower your score by up to 10 points for up to a year.
2. Pick a loan: From the loans you prequalified with, choose the option that works best for you. That might be the least expensive loan, the one that can provide money the soonest, or the one with the lowest monthly payments. Note the lender’s same-day funding cutoff time.
3. Complete the application early: You’ll complete your application directly on the lender's website. Do this as early as is feasible so you can get money today. Lenders may ask for your state-issued identification, recent paystubs, and/or recent bank statements.
4. Review and sign the loan agreement: Once you're approved, take your time to review the loan agreement. Make sure you understand the loan requirements and that you're OK with the APR, loan term, monthly payment, and, especially, upfront fees. Even though you're in a hurry to get money, don't rush this step.
5. Get your money: After returning your signed documents to the lender, it should tell you when to expect the funds in your account.

Learn More: How To Apply for a Personal Loan

Alternatives to same-day loans

• Payday alternative loans (PALs): Payday alternative loans, offered by some federal credit unions, are similar to personal loans but APRs top out at 28%. You may be able to borrow up to $2,000 at a fixed rate and repay it over 12 months. However, you’ll need to be a member of a credit union offering them to qualify or be eligible for membership. 
• Family and friends: It might be better to set up a loan arrangement with a family member. You could potentially benefit from a much lower rate, and they could benefit from earning interest on the amount you borrow. But if mishandled, such an arrangement can ruin relationships. Put everything in writing and get professional advice if borrowing more than $10,000. 
• Government and local resources: If your need is ongoing rather than a one-time expense or you don’t know if you can repay the loan, try to reduce your cost of living via government and local resources. Check 211.org for help with housing, food, utilities, disaster recovery, and more. 

Learn More: 9 Personal Loan Alternatives

Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.