Best Same-Day and Instant-Approval Loans

 

Best Same-Day and Instant-Approval Loans

Same-day loans are available from certain online lenders and even some banks and credit unions. Few major personal loan providers offer same-day approval and funding, as most take at least 2 business days, but there are some worthwhile exceptions. The best same-day personal loans offer low APRs and fees, in addition to nearly instant access to money.

Best Same-Day and Instant-Approval Loans

• Lig
  
  
  htstream - Best overall
• Alliant CU- Best credit union
• Rocket Loans - Fair Credit
• Avant - Bad credit
• Wells Fargo- Big loans
• OppLoans - No credit check
• Upgrade - No SSN required

Other instant loan options exist, too, but most are not worth applying for. In particular, it’s important to stay away from payday loans and auto title loans, which can provide same-day cash but are known for predatory costs. Below, you’ll find an in-depth explanation of the different types of same-day loans that might be available, along with information on how to get an instant loan safely.

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in loan selection.

Editor’s Thoughts

LightStream offers the best same-day loans because of its combination of low APRs, $0 origination fees, large loan sizes and long payoff periods. It’s the perfect package, if you have the 660 credit score needed to qualify.

Key Facts About LightStream Personal Loans:

• Approval/funding timeline: Same day - 2 business days
• WalletHub Editors’ Rating: 4.4/5
• BBB Rating: A+
• Range of APRs: 3.99% - 19.99%
• Minimum credit score: Reportedly 660
• Loan sizes: $5,000 - $100,000
• Origination fee: $0
• Payoff period: 24 - 144 months

Editor’s Thoughts

Alliant Credit Union is the best credit union for same-day loans because it has low APRs and offers up to $50,000 in funding. In addition, anyone can join Alliant Credit Union for free by becoming a member of Foster Care to Success (Alliant CU will pay the $5 membership fee for you).

Key Facts About Alliant Credit Union Personal Loans:

• Approval/funding timeline: As soon as same day
• BBB Rating: A+
• Range of APRs: 6.24% - 17.24%
• Minimum credit score: Not disclosed
• Loan sizes: $1,000 - $50,000
• Origination fee: $0
• Payoff period: 12 - 60 months

• Editor’s Thoughts

  Rocket Loans offers the best same-day loans for fair credit because it requires a credit score of 640 for approval, which is right at the start of the fair credit range. Rocket Loans also offers quite a bit of funding, with loans ranging from $2,000 to $45,000 for 36 or 60 months.

  Key Facts About Alliant Credit Union Personal Loans:

  • Approval/funding timeline: Same day - 4 business days
  • WalletHub Editors’ Rating: 3.9/5
  • BBB Rating: A+
  • Range of APRs: 7.16% - 29.99%
  • Minimum credit score: 640
  • Loan sizes: $2,000 - $45,000
  • Origination fee: 1% - 6%
  • Payoff period: 36 or 60 months

  • Editor’s Thoughts

    Avant offers the best loans with quick funding for people with bad credit because it reportedly only requires a credit score of 600 for approval. In addition, Avant offers decent interest rates and up to $35,000 in funding.

    Key Facts About Avant Personal Loans:

    • Approval/funding timeline: 2 - 3 business days
    • WalletHub Editors’ Rating: 3.6/5
    • BBB Rating: A
    • Range of APRs: 9.95% - 35.99%
    • Minimum credit score: 600, reportedly
    • Loan sizes: $2,000 - $35,000
    • Origination fee: Up to 4.75%
    • Payoff period: 24 - 60 months