9 Best Fast Personal Loans for Quick Cash Access
When you need cash fast, turning to a personal loan can be a great option. Whether it’s for an unexpected expense or you simply need some extra money to tide you over until your next paycheck, personal loans can offer you the quick cash access you need. But with so many options out there, it can be hard to know where to start. That’s why we’ve rounded up the 9 best fast personal loans that can help you get the money you need when you need it. So, let’s get started!
Looking for quick cash access? Here are 9 of the best fast personal loans to consider:
- 1. Rocket Loans
- 2. Upgrade
- 3. LendingClub
- 4. Avant
- 5. Marcus by Goldman Sachs
- 6. OneMain Financial
- 7. Discover Personal Loans
- 8. SoFi Personal Loans
- 9. LightStream
1. SoFi Personal Loans
Why We Like It: SoFi offers competitive interest rates and flexible repayment terms.
Who Should Get It: People with good credit scores and stable income looking for larger loans.
- No fees
- Loan amounts up to $100,000
- Flexible repayment terms up to 7 years
- High minimum credit score requirement
- Longer processing time compared to other lenders
2. LendingClub Personal Loans
Why We Like It: LendingClub offers fast approval and funding, along with competitive interest rates.
Who Should Get It: People looking for a fast loan with reasonable interest rates.
- No prepayment penalties
- Loan amounts up to $40,000
- Funding as soon as the next business day
- Origination fees up to 6%
- Not available in all states
3. Marcus by Goldman Sachs Personal Loans
Why We Like It: Marcus by Goldman Sachs offers low interest rates and no fees.
Who Should Get It: People with good credit scores who want to avoid fees and save money on interest.
- No origination fees
- Loan amounts up to $40,000
- Flexible repayment terms of up to 6 years
- High minimum credit score requirement
- No co-signer option available
4. Avant Personal Loans
Why We Like It: Avant offers loans to people with lower credit scores and has flexible repayment terms.
Who Should Get It: People with fair to poor credit scores who need a fast loan.
- Loan amounts up to $35,000
- Fast funding as soon as the next business day
- Flexible repayment terms up to 5 years
- Higher interest rates compared to other lenders
- Origination fees up to 4.75%
5. OneMain Financial Personal Loans
Why We Like It: OneMain Financial offers loans to people with poor credit scores and has physical branches for in-person assistance.
Who Should Get It: People with poor credit scores who want to apply for a loan in-person.
- Loan amounts up to $20,000
- Physical branches for in-person assistance
- Flexible repayment terms up to 5 years
- Higher interest rates compared to other lenders
- Origination fees up to 10%
6. Upstart Personal Loans
Why We Like It: Upstart uses alternative data to evaluate borrowers and offers fast funding.
Who Should Get It: People with limited credit history who need a fast loan.
- Loan amounts up to $50,000
- Fast funding as soon as the next business day
- Flexible repayment terms up to 5 years
- Higher interest rates compared to other lenders
- Origination fees up to 8%
7. Discover Personal Loans
Why We Like It: Discover offers flexible repayment terms and no fees.
Who Should Get It: People looking for a loan with no fees and flexible repayment terms.
- No origination fees
- Loan amounts up to $35,000
- Flexible repayment terms up to 7 years
- Higher interest rates compared to other lenders
- Hard credit check may affect credit score
8. Rocket Loans Personal Loans
Why We Like It: Rocket Loans offers fast funding and a paperless application process.
Who Should Get It: People looking for a fast loan with a simple application process.
- Funding as soon as the next business day
- Loan amounts up to $45,000
- Flexible repayment terms up to 7 years
- Higher interest rates compared to other lenders
- Origination fees up to 6%
9. Best Egg Personal Loans
Why We Like It: Best Egg offers fast funding and competitive interest rates.
Who Should Get It: People looking for a fast loan with reasonable interest rates.
- Funding as soon as the next business day
- Loan amounts up to $35,000
- Flexible repayment terms up to 5 years
- Origination fees up to 5.99%
- Higher interest rates compared to other lenders
Frequently Asked Questions
Here are some common questions about fast personal loans for quick cash access.
1. What are fast personal loans?
Fast personal loans are unsecured loans designed to provide quick access to cash for individuals needing immediate financial assistance. These loans typically have a shorter repayment period and higher interest rates compared to traditional bank loans.
They are ideal for those who need money urgently and cannot wait for the lengthy approval process of traditional loans. Fast personal loans are typically offered by online lenders and can be approved within a few hours.
2. What are the requirements for getting a fast personal loan?
The requirements for getting a fast personal loan vary depending on the lender. Generally, lenders require borrowers to be over the age of 18, have a steady income, and have a good credit score. Some lenders may also require proof of income, such as pay stubs or bank statements, and may conduct a credit check before approving the loan.
It is important to research the specific requirements of each lender before applying for a fast personal loan to ensure that you meet the eligibility criteria.
3. What are the advantages of fast personal loans?
The main advantage of fast personal loans is their speed and convenience. These loans can be approved quickly, allowing borrowers to access the cash they need within a few hours. Additionally, fast personal loans do not require collateral, making them accessible to a wider range of individuals.
Fast personal loans are also flexible, allowing borrowers to use the funds for a variety of purposes, such as debt consolidation, home improvements, or unexpected expenses.
4. What are the disadvantages of fast personal loans?
The main disadvantage of fast personal loans is their high-interest rates. These loans typically have higher interest rates compared to traditional bank loans, making them more expensive in the long run.
Additionally, fast personal loans can be risky for borrowers who cannot repay the loan on time. Late payments or defaulting on the loan can result in additional fees and damage to the borrower’s credit score, making it harder to obtain credit in the future.
Each of these fast personal loans has its unique features, such as low-interest rates, flexible repayment terms, and quick approval processes. Moreover, they are designed to cater to different financial needs, whether it’s a medical emergency or a home renovation project, there is something for everyone.
In conclusion, getting a personal loan is an excellent way to access quick cash when you need it the most. However, it’s essential to choose the right lender and loan product to avoid getting into debt. By choosing from our list of the nine best fast personal loans, you can be sure to get the financial assistance you need without any hassle.
