Whether you're facing an unexpected car repair, home improvement or medical expense, a personal loan can provide a quick infusion of much-needed cash in an emergency.
To find the best emergency loans, we looked for lenders that approved smaller amounts and that fund loans within 24 or 48 hours. We also considered rates, fees, repayment terms and other factors. You can read more about our methodology below.
Best emergency loans
- Best for bad credit: Upstart
- Best for low rates: LightStream
- Best for co-borrowers: Happen Bank
- Best for no credit: OneMain Financial
- Best for fair credit: Avant
- Best for discounts: Upgrade
- Best for large loans: SoFi
- Best peer-to-peer lender: Prosper
- Best for same-day funding: Rocket Loans
- Best for using collateral: Best Egg
Best for bad credit: Upstart
We like that Upstart considers factors besides credit score, including education, income and employment history. However, co-signers aren't accepted.
- Accept applicants with bad or no credit
- Minimum APR is lower than many competitors'
- Approves personal loans up to $75,000
- Most loans are funded the next business day
- Origination fee of 0% to 10%
- Doesn't allow co-signers or co-borrowers
Who's this for? Upstart approves loans for borrowers with any credit score or without enough credit history to generate a score. It uses alternative factors to determine approval, including your education and employment history, and claims its model results in 33% lower rates than traditional lenders.
Standout benefit: Upstart offers personal loans with terms of 3 years (36 months) or 5 years (60 months), but there's no prepayment penalty if you want to pay off your balance sooner.
Funding speed: According to Upstart, 99% of personal loans are funded the next business day if you accept the loan before 5 p.m. ET on a business day.
Best for low rates: LightStream
We like that LightStream offers competitive APRs, no late or origination fees and long loan term options. But you can't prequalify and the loan minimum may be too high if you only need to borrow a small amount.
- Same-day funding available.
- Loan amounts up to $100,000.
- No origination fee or late fee.
- The minimum loan amount is $5,000.
- Prequalification not available.
- No option to pay your creditors directly.
Who's this for? LightStream promises to beat a competitor's lower rate on a secured loan by 0.10%. In addition, there is no origination fee and borrowers can enjoy an autopay discount of 0.50%
Standout benefits: LightStream offers terms of up to 20 years, the longest on this list. It also offers a $100 guarantee if you're not completely satisfied with the loan process.
Funding speed: Same business day
Best for co-borrowers: Happen Bank
Formerly LendingClub, Happen Bank offers competitive rates on a wide range of loan amounts, with funds available in as little as 24 hours after final approval.
- Accepts borrowers with fair credit.
- High loan limit of $75,000.
- Funds may be available in as little as 24 hours.
- Repayment terms range from two to seven years.
- Co-borrowers are permitted.
- Doesn't accept co-signers.
- Origination fee of 2% to 6% of the loan amount.
- No autopay discount.
Who's this for? If you have weak credit, Happen Bank allows borrowers to apply for a joint personal loan with a co-borrower. Applying jointly can help you qualify for a loan or access more favorable terms.
Standout benefits: Happen Bank offers a 15-day grace period to avoid penalties and eligible borrowers can adjust their payment due dates.
Funding speed: As quickly as 24 hours after loan closing.
Best for no credit: OneMain Financial
We like that OneMain accepts borrowers with bad credit and offers secured loans and fast funding. However, its minimum APR is on the high side and the $30,000 financing maximum may be too low if you need a larger loan.
- Approves applicants with bad/fair credit
- Same-day funding available
- Can apply with collateral
- Co-applicants allowed
- High origination fee
- High minimum interest rate
- No autopay discount
- Co-signers not allowed
*You must complete a loan application and continue to meet any criteria used to select you for a loan offer. Not all applicants are approved. Loan approval and actual loan terms depend on applicant's state of residence and ability to meet OneMain Financial credit standards such as a responsible credit history, sufficient income after monthly expenses, and if applicable, availability of eligible collateral.
Not all approved applicants qualify for larger loan amounts, lower APRs, or the most favorable loan terms. For example, larger loan amounts typically require a first lien on a motor vehicle that is no more than ten years old, meets our value requirements, and is titled in applicant's name with valid insurance. APRs are generally higher on loans not secured by a vehicle.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
OneMain charges origination fees allowed by law. Depending on the state where the loan is opened, the origination fee may be either a flat amount or a percentage of the loan amount. Flat fees vary by state, ranging from $25 to $500. Percentage-based fees vary by state, ranging from 1% to 10% of the loan amount subject to certain state limits on the fee amount.
For information about these fees and minimum and maximum loan sizes available in certain states, visit omf.com/loanfees.
Current OneMain Customers: Loan offers presented to a consumer assume the individual has no active loan with OneMain or one of its affiliates. If a customer applies for a new loan offer, a OneMain representative will discuss available options.
Active-duty military, their spouse or dependents covered by the Military Lending Act (MLA) may not pledge any vehicle as collateral. If you are covered by the MLA, you are not eligible for secured loans.Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB's Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Time to Fund Loans: Funding within one hour after loan closing through SpeedFunds® must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after closing.
Who's this for? Since it has no minimum credit score requirements, OneMain Financial is a good option if you have a thin credit history. It considers factors like your income, debt-to-income ratio and overall ability to repay the loan.
Standout benefits: Borrowers can use an eligible vehicle as collateral, as long as it is titled in their name, insured and meets valuation requirements.
Funding speed: Once you accept your loan, funds may be available in as little as one hour.
Best for fair credit: Avant
This online lender approves borrowers with lower credit and income requirements than many competitors. We also like that it can deliver speedy approval and next-day funding, although it won't pay your creditors directly if you have a debt consolidation loan. The APR and origination fee for applicants with weak credit can be high, but the tradeoff may be worth it if you've been unable to get approved elsewhere.
- Lends to applicants with poor credit
- Funding often available next day
- Late-payment grace period of 10 days
- Origination fee of up 9.99%
- No autopay discount
- Doesn't offer direct payment to creditors for debt consolidation loans
- No co-signers or collateral
Who's this for? Most Avant customers have a FICO Score between 600 and 700, making it a great choice if you have fair credit.
Standout benefits: Avant offers a 10-day grace period for payments without penalty.
Funding speed: Money is available the next business day if the loan is approved by 5:30 p.m. ET, Monday through Friday.
Best for discounts: Upgrade
We like that Upgrade considers borrowers with fair credit and allows you to apply with a co-borrower, which can improve your odds of approval and receiving favorable rates. The maximum interest rate is on the high side, however.
- Accepts applicants with fair credit
- Approves loans of up to $75,000
- Discount for having creditors paid directly
- Funding in as little as one day*
- Accepts co-borrowers.
- High maximum interest rate
- Origination fee of up to 9.99%
- No physical branches
Why Upgrade is the best for financial literacy:
- Free credit score simulator to help you visualize how different scenarios and actions may impact your credit
- Charts that track your trends and credit health over time, helping you understand how certain financial choices affect your credit score
- Ability to sign up for free credit monitoring and weekly VantageScore updates
Who's this for? Upgrade offers numerous rate reductions, including for enrolling in autopay, using the loan to pay off existing debt and for having other eligible Upgrade financial products.
Standout benefits: Upgrade loans come with a 15-day grace period and secured loans are available with a potentially better rate.
Funding speed: Money is available the next business day if the loan is approved by 5:30 p.m. ET, Monday through Friday.
Best for larger loans: SoFi
No origination fees required, no early payoff fees, no late fees
- No origination fees required, no early payoff fees, no late fees
- Unemployment protection if you lose your job
- DACA recipients can apply with a creditworthy co-borrower who is a U.S. citizen/permanent resident by calling 877-936-2269
- Can have more than one SoFi loan at a time (state-permitting)
- May accept offer of employment (to start within the next 90 days) as proof of income
- Co-applicants may apply
- Applicants who are U.S. visa holders must have more than two years remaining on visa to be eligible
- No co-signers allowed (co-applicants only)
Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
Who's this for? SoFi's upper limit for personal loans is $100,000, making it a good choice if you need a large amount of cash.
Standout benefits: If you're using your loan to pay down debt, SoFi's Direct Pay feature will pay your creditors directly. It also offers a 0.25% discount on your APR for signing up for autopay and doesn't charge any late fees, origination fees, or prepayment penalties.
Funding speed: You may qualify for same-day funding if you accept your loan offer and sign your final agreement by 5:30 p.m. ET. Otherwise, the money is usually available the following business day.
You can sign with collateral or a co-borrower to better your approval odds and secure a lower rate. Funding can be quick.
- Approves loans of up to $50,000
- Repeat borrowers may qualify for an APR discount
- Borrowers can choose their payment date
- Co-borrowers permitted
- Higher maximum APR than other lenders
- Funding may take several days
- No direct payment to creditors
- Numerous fees
Best peer-to-peer lender: Prosper
Who's this for? If you are looking for an alternative to a commercial bank or credit union, Prosper facilitates loans directly between borrowers and individual or institutional investors. And you only need a credit score of 560 to 660.
Standout benefits: Prosper lets you add a co-applicant to boost your approval odds and lower your rate.
Funding speed: Prosper advertises that some borrowers can receive their direct deposit as soon as the next business day.
Best for same-day funding: Rocket Loans
Can receive your funds as soon as the same business day and there's no penalty for paying off your loan early.
- No early payoff fee
- Offers autopay discount
- Can receive your funds as soon as the same business day
- Charges a late fee
- Origination fee is quite high
Who's this for? If you sign your Rocket Loans loan agreement by 4 p.m. ET, you can get your money the same business day. Rocket claims more than 80% of its clients receive funds in under 24 hours.
Standout benefits: Most applications don't require documents or calls with a representative. Rocket Loans offers a 0.30% discount for enrolling in autopay.
Best for using collateral: Best Egg
Best Egg Personal Loan
Annual Percentage Rate (APR)
6.99%–35.99%
Loan amounts
Up to $50,000
Terms
36 to 84 months
Credit needed
Not disclosed
Origination fee
0.99%–9.99% of the loan amount
Late fee
$15 fee if the borrower's bank account has insufficient funds
Terms apply.
Pros
- Secured loans have an average APR discount of 20% compared to unsecured loans.*
- Factors besides credit scores are considered when applying.
- Possible to get financing in as little as 24 hours.
- Vehicles and home fixtures can be used as collateral.
Cons
- The origination fee is higher than some competitors'.
- Best Egg does not allow co-signers or co-borrowers.
*The Best Egg Secured Loan is a personal loan secured using a lien against fixtures permanently attached to your home such as built-in cabinets, light fixtures, and bathroom vanities. Rest assured, your home itself will not be used as collateral.
Who's this for? Best Egg allows homeowners to secure their loan with fixtures permanently attached to their property, such as built-in cabinets and light fixtures, rather than the house itself. According to the lender, securing your loan can lower your APR by an average of 20%.
Standout benefits: Loans are available for up $100,000. If you refer a friend who takes out a loan with Best Egg, you're both eligible for a $150 gift card.
Funding speed: About half of borrowers receive their money by the next business day, according to Best Egg.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
7.99%–35.99%
Up to $50,000
9.95% to 35.99%
$2,000 to $35,000
How to choose an emergency loan
The two keys to a good emergency loan are getting approved and getting your money quickly. Beyond that, you want a good rate, few fees and a loan range that matches your need.
Here's what to consider when choosing an emergency loan.:
- Eligibility: Each lender has different standards for approving loans, so knowing your credit score and other financial information can help you narrow your selection.
- APR: A lower APR means lower interest payments, so shopping around for lower rates before committing to your loan could end up saving you a chunk of change.
- Funding time: Once approved, you should receive your funds either the same day or the next business day.
- Payment timeline: Because they're for smaller amounts, emergency loans generally have shorter repayment terms, so that you're paying less interest over time.
- Fees: You may have to pay an origination fee on your emergency loan, but none of the loans on this list charge a prepayment penalty.
How to get an emergency loan with bad credit
A broken taillight doesn't care that you have a 580 credit score. If you need financing but you have rocky credit, you still have options.
1. Use collateral
Some lenders let you secure your loan with an asset, like your house, car or savings account. Because you're offering something of value to guarantee you'll make payments, the lender is taking on less risk. Best Egg reports that using collateral can mean getting a rate that's 20% lower.
OneMain Financial allows borrowers to use their vehicle as collateral, as does Upstart, although only in some states.
Upgrade and Best Egg both allow borrowers to use their home fixtures as collateral, and Upgrade also approves auto-secured loans.
2. Add a co-signer or co-borrower
A co-signer with good credit can greatly improve your chances of approval. That's because they're on the hook if you default. A co-borrower has the same obligation, but also shares legal ownership of the asset purchased with the loan.
Because there are two applicants, approval can take longer. And while many lenders allow co-borrowers, co-signer options are less common for personal loans.
3. Increase your income
Aside from your credit score, your debt-to-income ratio is the second biggest factor in whether you'll get approved. Lenders want to make sure you have enough cash flow to comfortably afford payments.
Don't just include your paycheck — qualifying sources of income include alimony, child support, rental income, dividends and Social Security benefits.
4. Improve your credit score
Granted, if it's an emergency, you may not have time to raise your credit score. According to Experian, one of the three main credit reporting bureaus, it can take 30 to 60 days for your credit report to catch up to changes in your credit utilization or payment history.
But if you have that breathing room, something as simple as asking your credit card company to increase your limit can improve your score. You can also look over your credit reports for mistakes or signs of fraud. And, of course, work to pay your credit card bill on time and in full.
FAQs
What credit score do you need for a loan?
There is no universal score to get approved for a loan, although many lenders want to see at least a FICO Score of 580 for approval and 670 for favorable good rates. Lenders like OneMain Financial and Upstart focus on borrowers with poor or thin credit.
How quickly can you get an emergency loan?
The exact timeline will vary depending on several factors, but you can be approved for an emergency loan and receive funds the same day or within one business day.
What's the difference between a secured and unsecured loan?
The main difference is that a secured loan is guaranteed by an asset owned by the borrower. It can be a car, a house or even a CD or savings account. Because they're backed by collateral, secured loans generally have lower APRs than unsecured loans. But they can take longer to get approved.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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Our methodology
CNBC Select analyzed dozens of personal loans offered by both U.S. brick-and-mortar and online banks and credit unions.
When narrowing down and ranking the best personal loans, we focused on the following features:
- Eligibility requirements: Lenders with flexible credit requirements — or who do not use credit scores to determine eligibility — were given more weight.
- Flexible loan lengths: Lenders with shorter term limits were prioritized.
- Fees: We favored lenders who don't charge an origination or application fee. None of the lenders on our list charge a prepayment penalty.
- Application process: We considered whether lenders offered a fast online application process and same-day approval.
- Customer support: Every provider on our list has customer service available via telephone, email and online messaging. Lenders with robust customer service hours were given more weight.
- Unsecured loans: Every provider on this list offers unsecured loans, although some also offer secured loans.
- Fund disbursement: The loans on our list are funded quickly, typically the same day approval is finalized or one business day later.
- Loan sizes: The lenders on this list offer loans in a range of sizes, but we favored providers with smaller loan minimums.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
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Fixed rates from 8.74% APR to 35.49% APR. APR reflects the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts are available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers.
Your actual rate will fall within the range listed above and will depend on a variety of factors, including an evaluation of your creditworthiness, income, and other factors.
