You can get an instant loan in 5 minutes if you borrow from a friend or family member since they can give you cash or use an electronic transfer service to send you money immediately. No reputable companies will send funds to you within minutes or even 1 hour after you apply. Personal loans are typically funded within 7 business days, and other options – like paycheck advance services – usually take a few business days.
Fortunately, some personal loans offer funding the same day. The best personal loans with the possibility of same-day funding are from LightStream. The company offers loans of $5,000 - $100,000, with APRs of 7.49% - 25.99% and repayment periods of 24 - 144 months to people with credit scores of 660 or higher.
To see if you’re pre-qualified for a same-day personal loan, you can try the free pre-qualification tool on WalletHub.
This answer was first published on 05/13/22 and it was last updated on 02/12/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
You can get an instant loan in 5 minutes if you borrow from a friend or family member since they can give you cash or use an electronic transfer service to send you money immediately. No reputable companies will send funds to you within minutes or even 1 hour after you apply.
How can I get an instant loan immediately? ›
Download an instant loan app that offers a small cash loan facility. The application is simple, involving few easy steps with paperless documentation, zero collateral and minimal eligibility criteria. All these benefits speed up the process, enabling instant loan approval in 1 hour.
What is the easiest loan to get immediately? ›
Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Personal loans with essentially no approval requirements typically charge the highest interest rates and loan fees.
How can I borrow money and get it instantly? ›
Fastest ways to borrow money
- Personal loan from an online lender. Compared to traditional lenders like banks or credit unions, online lenders boast convenience and speed given their fully online application and funding process. ...
- Loan apps. ...
- Cash advance from a credit card. ...
- Loan from family or friends. ...
- Pawnshop loan.
Where to get a $500 loan: 5 options and alternatives
- Cash advances. A cash advance is a short-term financing solution different from a personal loan. ...
- Personal loans. Not all lenders will approve personal loans for $500, as some require higher loan amounts. ...
- Credit card cash advance. ...
- Credit builder loans. ...
- Payday loans.
With large loan amounts and competitive rates, SoFi could be an excellent choice if you need a lot of money fast. If SoFi approves you, it's likely you'll receive your loan the same day you apply. That is, as long as you apply before 7 p.m. EST on a business day, and aren't getting a debt consolidation loan.
Which app gives instant personal loan? ›
List of 25 Best Personal Loan Apps
| Personal loan Lender | Interest Rate Charged | Approval and disbursal time |
|---|
| MoneyTap | 13-18% per annum | Few minutes |
| Kissht | 14-28% per annum | 10-15 minutes |
| IndiaLends | 10.25-25% per annum | 1-2 days |
| Navi | 9.9-45% per annum | 1 hour |
21 more rowsWhat Are My Options for Bad Credit Loans?
- Peer-to-Peer Lending. ...
- Car Title Loans. ...
- Borrow Money From a Friend or Family Member. ...
- Pawnshop Loans. ...
- Payday Loans. ...
- Credit Card Cash Advance.
A hardship loan is a loan to cover an unexpected financial shortfall, either because your expenses went up or your income went down. Hardship loans are not like other loans that are designed to meet an expected or planned need (like a car loan or a business expansion loan).
What is the easiest loan to get online? ›
The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.
A convenient and hassle-free borrowing experience is offered by Fibe Instant Personal Loan, which is intended to meet a range of emergencies. Fibe offers hassle-free ₹5 lakh loan approval in as little as 2 minutes.
What app can loan me 250$ quickly? ›
Best cash advance apps compared
| Cash advance app | Best for | Advance limit |
|---|
| Brigit | Building credit | $250 |
| Empower | App design | $250 |
| EarnIn | Higher advance amounts | $100 per day/$750 per pay period |
| MoneyLion | No monthly fee | $500 |
4 more rows4 days ago
MoneyLion and EarnIn are two apps that specialize in payday advances without credit inquiries. Splitit is an example of a BNPL service that doesn't have credit checks. Both physical storefronts and online lenders may offer payday or bad credit installment loans with a soft credit inquiry or no credit inquiry.
What is the app that gives you $500? ›
Cash advance apps like MoneyLion and Dave also offer up to $500 in cash, but you may not qualify for the maximum if it's your first time borrowing.
How to borrow 200 dollars today? ›
Options for a $200 loan today
- Income-Based Advance. An income-based advance (also known as Earned Wage Access) gives you money upfront based on how much you earn or expect to earn. ...
- Credit card. ...
- Payday loans. ...
- Ask a friend or family member. ...
- Sell things. ...
- FAQ.
How to make $1,000 fast
- Sell stuff you already own.
- Deliver food.
- Pick up a part-time job.
- Rent out unused space.
- Start freelance writing.
- Try affiliate marketing.
- Drive for a ridesharing service.
- Find odd jobs.
When you need a quick $1,000 loan, you may be able to borrow money from an online lender. If you meet their eligibility requirements, you can apply online. Approval is typically fast with online lenders. Your loan proceeds might hit your bank account the same day or within a few days of approval.
Can I get a loan from Google Pay? ›
You can apply for a personal loan offered by participating lenders on the Google Pay app . Every month, your loan payment is automatically deducted from your chosen bank account.
