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If you don’t have the cash saved in the bank to cover a major cost, taking out a personal loan could be a good idea.
It usually takes one and seven business days to get a personal loan — though this will depend on which type of lender you work with.
Here’s how long it typically takes to get a personal loan:
- Online lenders: Less than 5 business days
- Banks: 1-7 business days
- Credit unions: 1-7 business days
- Payday loans, pawn shop loans, and car title loans: Can be same day
Online lenders: Less than 5 business days
If you need money quickly, an online lender could be a good option. You can often apply online within minutes and might even get an instant decision, depending on the lender. If you’re approved, you’ll typically get the funds within five business days.
Some lenders send money even faster — for example, Lightstream might fund your loan as soon as the same business day.
Be sure to consider as many lenders as possible before taking out a personal loan. This way, you can find the right loan for you. Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes.
| Lender | Fixed rates | Loan amounts | Time to fund |
|---|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.99% - 35.99% APR | $10,000 to $35,000 | If approved, funds sent within 24-72 hours† |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 9.95% - 35.99% APR | $2,000 to $35,000** | As soon as the next business day (if approved by 4:30 p.m. CT on a weekday) |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.99% - 15.19% APR | $10,000 to $50,000 | Next business day |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.99% - 35.99% APR | $2,000 to $50,000 | As soon as 1 to 3 business days after successful verification |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.99% - 24.99% APR | $2,500 to $35,000 | As soon as the next business day after acceptance |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 10.5% - 29.99% APR | $5,000 to $40,000 | As soon as 2 to 5 business days after verification |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.3% - 35.89% APR | $1,000 to $40,000 | Usually takes about 2 days† |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.99% - 35.99% APR | $2,000 to $36,500 | As soon as the next business day |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.99% - 23.99% APR | $5,000 to $100,000 | As soon as the same business day |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 18.0% - 35.99% APR | $1,500 to $20,000 | As soon as 1 to 2 business days after approval |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.74% - 17.99% APR | $600 to $50,000 (depending on loan term) | 2 to 4 business days after verification |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.99% - 35.99% APR | $2,000 to $50,000 | As soon as one business day |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.99% - 23.43% APR10 | $5,000 to $100,000 | 3 business days |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 11.69% - 35.93% APR7 | $1,000 to $50,000 | Within one day, once approved9 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.49% - 35.97% APR | $1,000 to $50,000 | Within a day of clearing necessary verifications |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.4% - 35.99% APR4 | $1,000 to $50,0005 | As soon as 1 - 3 business days6 |
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With online lenders, you can often apply for preapproval to check your rates before submitting a full application and undergoing a hard credit inquiry. This way, you can shop around before choosing a lender.
If you have less-stellar-credit or a significant amount of debt, you might not qualify for the lowest interest rates.
Check Out:
Banks: 1-7 business days
If you already have a checking or savings account with a bank, you might be interested in applying for a loan through that same institution.
Personal loans from banks typically take one to seven days to fund, depending on the bank and whether you have an account with them. Wells Fargo is one of the fastest personal loan issuers, disbursing funds often by the next business day.
Some banks allow you to apply online, while others require you to apply in person at a local branch. The lender will review your information, including your income and credit score, before making a decision on your loan application.
You might also qualify for interest rates discounts if you have an existing relationship with the bank.
If you do your banking with any of these institutions, you’ll need to find another lender.
Here are some popular banks that offer personal loans. Note that these lenders are not partnered with Credible, so you won’t easily be able to compare your rates all at once.
| Lender | Rates | Loan amounts | Time to fund |
|---|---|---|---|
| Citibank | Check with lender | $2,000 to $30,000 | Check will be mailed within five business days |
| Discover | Check with lender | $2,500 to $35,000 | As soon as the next business day after acceptance |
| HSBC Bank | Check with lender | $3,000 - $50,000 (depending on relationship with HSBC Bank) | As soon as the same or next business day (depending on relationship with HSBC Bank) |
| TD Bank | Check with lender | $2,000 to $50,000 | As little as one business day |
| Wells Fargo | Check with lender | $3,000 to $100,000 | As soon as the next business day |
Learn More: Small Loans
Credit unions: 1-7 business days
As nonprofit organizations, credit unions often offer lower interest rates than traditional banks. This could make them a good option for a personal loan.
Credit unions also sometimes have less stringent requirements, which means it might be easier to qualify for a personal loan through a credit union compared to other lenders.
Each credit union has its own set of membership eligibility requirements, so be sure to research which credit unions you might qualify to join.
Like banks, the disbursement time for a personal loan from a credit union can range from one to seven business days. However, there are some credit unions that are especially fast.
For example, Alliant Credit Union and Navy Federal Credit Union both typically deposit the money into your account the same day you’re approved.
Here are a few credit unions that offer personal loans. Note that these lenders are not partnered with Credible, so you won’t easily be able to compare your rates all at once.
| Lender | Rates | Loan amounts | Time to fund |
|---|---|---|---|
| Alliant Credit Union | Check with lender | $1,000 to $50,000 | Typically same-day deposit |
| First Tech Federal Credit Union | Check with lender | $500 to $50,000 | Same day your loan is approved for most applicants |
| Navy Federal Credit Union | Check with lender | $250 to $50,000 ($30,000 minimum for home improvement loans) | Same-day funding in most cases |
Check Out: Short-Term Loans
Payday loans, pawn shop loans, and car title loans: Can be same day
If you need money as soon as possible, payday, pawn shop, or car title loan lenders can usually give you cash on the spot. But this convenience comes at a hefty price.
Here are the average interest rates you can expect from these types of loans:
- Payday loans: 300% to 500%
- Pawn shop loans: 12% to 240% (or higher)
- Car title loans: 300%
Also keep in mind that these lenders that provide these types of loans can also be predatory in nature.
A payday loan, pawn shop loan, or car title loan should be a last resort if you need quick cash. A same-day personal loan or even a credit card could be a much less costly choice in the long run.
If you’re considering a personal loan, use our personal loan calculator below to estimate how much you’ll pay for it over time.
Enter your loan information to calculate how much you could pay
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.
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Learn More: Cash-Advance Loans
What you need to apply for a loan
To ensure the application process goes as quickly as possible, it’s a good idea to prepare ahead of time. Lenders will ask you for basic information, which often includes the following:
- Name
- Social Security number
- Address
- Phone number
- Proof of identity (such as a driver’s license or passport)
- Annual income
- Proof of income (such as a pay stub or W-2 form)
To qualify for a personal loan, you’ll generally need at least good credit. However, there are some lenders — such as Avant and LendingPoint — that are willing to work with borrowers who have poor or fair credit.
Keep in mind that you’ll need good to excellent credit to qualify for the best interest rates.
Not all lenders allow cosigners, but some — such as LendingClub and SoFi — do, which could improve your chances of getting approved. Even if you don’t need a cosigner to qualify, having a cosigner might help you get a lower interest rate.
Learn More:
Getting a personal loan from an online lender is convenient
How long it takes to get a personal loan generally depends on which lender you choose. Choosing an online lender is often the fastest and easiest option — if you’re approved, you might get your funds as quickly as the same day you apply.
If you decide to take out a personal loan, be sure to consider as many lenders as possible to find the right loan for you. With Credible, you can easily compare your prequalified rates from multiple lenders in two minutes after filling out a single form.
Plus, all of Credible’s partner lenders are online, meaning the application and funding process will be quick and simple.
Ready to find your personal loan?
Credible makes it easy to find the right loan for you.
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Checking rates won’t affect your credit
