Whether you're facing a sudden home repair or unexpected medical expenses, emergency loans may be able to help if you need cash. Emergency loans generally have much more favorable interest rates and fees than payday loans.
CNBC Select rounded up the best emergency loans with fast applications and quick access to funds. We also considered factors like interest rates, fees, loan amounts and term lengths offered, plus other features including how your funds are distributed, any discounts and customer service options.
Read more about our methodology below.
Best emergency loans
- Best for low credit scores: Upstart
- Best for longest loan terms: LightStream
- Best for co-borrowers: LendingClub
- Best for no credit: OneMain Financial
- Best for fair credit: Avant
- Best for discounts: Upgrade
- Best for large emergency loans: SoFi
- Best for peer-to-peer loans: Prosper
- Best for same-day funding: Rocket Loans
- Best for secured options: Best Egg
Compare personal loans from these lenders
Best for low credit scores
Upstart offers accessible personal loans for people with fair or average credit.
- Accept applicants with low or no credit
- No early payoff fees
- Most loans funded the next business day
- High late fees
- Origination fee of 0% to 10% of the target amount
- $10 fee for paper copies of loan agreement
Who's this for? Upstart is ideal if you have a poor credit score as it only requires a minimum score of 300. It also considers applicants who don't have enough history to generate a credit score.
Standout benefits: Upstart looks at more factors than just your credit when reviewing applications, including your education and employment history. You can check your loan terms without a hard inquiry before you apply. Once approved, you can get the funds as quickly as the next business day.
Best for longest loan terms
LightStream Personal Loans offer low APRs, no fees and the ability to apply online. Its terms are as long as 20 years, or 240 months.
- Same-day funding available through ACH or wire transfer (conditions apply)
- Loan amounts up to $100,000
- No origination fees, no early payoff fees, no late fees
- LightStream plants a tree for every loan
- Requires several years of credit history
- No option to pay your creditors directly
- Not available for student loans or business loans
- No option for pre-approval on website (but pre-qualification is available on some third-party lending platforms)
Who's this for? LightStream is worth looking into if you want more time to repay your loan. It offers low annual percentage rates (APRs) and loan terms for as long as 20 years, the longest on this list.
Standout benefits: LightStream offers its users a $100 guarantee if they are not completely satisfied with their loan process.
Best for co-borrowers
LendingClub Personal Loans
Annual Percentage Rate (APR)
8.98% to 35.99% APR
Loan purpose
Debt consolidation, major expenses, emergency costs, moving, weddings
Loan amounts
$1,000 to $40,000
Terms
24 or 60 months
Credit needed
Good
Origination fee
3.00% to 8.00% of the loan amount
Early payoff penalty
None
Late fee
15-day grace period to make payments with no penalty
See our methodology, terms apply.
Pros
- Co-borrowers are permitted
- No prepayment penalty
- Loan amounts as low as $1,000
- Quick application you can submit in just a few minutes
- Ability to check your rate without hurting your credit score
Cons
- Doesn't accept co-signers
- Origination fee of 2% to 6% of the loan amount
- Only two loan terms to choose from (3 or 5 years)
Who's this for? LendingClub is a great option if you want the option to add a co-borrower to your loan to potentially boost your approval odds. The co-borrower's income and credit history will also be considered, and they will also be responsible for paying the debt.
Standout benefits: LendingClub offers a 15-day grace period to make payments to avoid any penalty fees.
Best for no credit
Approves applicants with bad or fair credit and offers secured loans.
- Approves applicants with bad or fair credit
- Relatively low $1,500 loan minimum
- Same-day funding available
- Option to apply with collateral for a lower rate
- Co-applicants allowed
- High origination fee
- High interest rates
- No autopay discount
- No co-signers
*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? OneMain Financial could be a good option if you have little or no credit history as it has no minimum credit score requirements.
Standout benefits: Once you accept your loan you could receive access to your funds in as little as one hour. OneMain Financial also doesn't charge prepayment penalties if you pay off your loan balance earlier than expected.
Best for fair credit
Lends to applicants with poor credit and offers next-day funding.
- Lends to applicants with poor credit
- No early payoff fee
- Can prequalify with a soft credit check
- Funding often available next day
- Late-payment grace period of 10 days
- Origination fee
- Potentially high interest
- No autopay discount
- No direct payments to creditors for debt consolidation
- No co-signers
Who's this for? Avant appeals to those with fair credit scores as most of its customers have a score between 600 and 700.
Standout benefits: Avant offers a 10-day grace period to make payments without a penalty. It also has a user-friendly mobile app where you can receive notifications about your loan, change key dates and make payments.
Best for discounts
Accepts applicants with fair credit
- Accepts applicants with fair credit
- Approves loans of up to $50,000
- Creditors can be paid directly
- Autopay discount available
- Funding in as little as one day*
- 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 can help you save money thanks to its many discounts, such as for enrolling in autopay, using the loan to pay off existing debt and for having other eligible Upgrade products.
Standout benefits: Upgrade loans come with a 15-day grace period. Upgrade also offers secured loans that require collateral in exchange for a potentially better rate.
Best for large emergency loans
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 could be a good fit if you're looking to take out a large emergency loan as it has high upper limits of $100,000.
Standout benefits: If you're planning to use your loan to pay down credit card debt, SoFi offers Direct Pay, which will pay your credit card company directly using your loan funds. 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.
Best for peer-to-peer loans
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
Who's this for? Prosper is worth considering if you are looking for an alternative lender than a big bank or credit union.
Standout benefits: Prosper is a peer-to-peer lender and allows you to use a co-applicant to boost your approval odds or lower your rate. You can check your rates before applying without affecting your credit score.
Best for same-day funding
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? Rocket Loans offers you the ability to receive your funds within the same day of your approval depending on eligibility.
Standout benefits: Rocket Loans offers a discount for making automatic payments and doesn't charge a prepayment penalty.
Best for secured options
Best Egg Personal Loan
Annual Percentage Rate (APR)
7.99%–35.99%
Loan purpose
Debt consolidation, home improvement, moving expenses, major purchases, adoption and more
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
Early payoff penalty
None
Late fee
$15 fee if the borrower's bank account has insufficient funds
Terms apply.
Pros
- Possible to financing in as little as 24 hours
- An average APR discount of 20% compared to their unsecured loan*
- Factors besides credit scores are considered when applying
- Access to Best Egg Financial Health
Cons
- 0.99% to 9.99% origination fee
- Home may be difficult to sell or refinance before the loan is repaid
*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 offers both unsecured and secured loans which might appeal if you are still on the fence about some of your options.
Standout benefits: Best Egg offers a $150 gift card to you and a friend should you refer them and they complete the required steps.
More on our top emergency loans
Upstart
Upstart has originated over $39 billion in loans for its customers. It offers three and five-year loans between $1,000 and $50,000. It charges no prepayment penalty fees but its loans can still potentially come with high costs. For instance, you may have to pay up to 12% in origination fees. Funds can be disbursed as quickly as the next business day if you accept the loan before 5 p.m. EST Monday through Friday.
- Loan amounts: $1,000 to $50,000
- Loan terms: 36 and 60 months
- Credit needed: Credit score of 300 on at least one credit report, but may accept applicants with insufficient credit history
- Quickest funding time: 1 business day
LightStream
LightStream, part of Truist Bank, offers loans with competitive rates and flexible terms for people with good credit or higher. It doesn't charge any origination, administration or early payoff fees and offers an autopay discount of .50% off your interest rate. If you get approved for an unsecured loan with a lower rate from a competing lender, LightStream promises to beat it by 0.10%.
- Loan amounts: $5,000 to $100,000
- Loan terms: 24 to 144 months
- Credit needed: Good
- Quickest funding time: Same day
LendingClub
LendingClub launched in 2007 and has since helped more than 4.8 million members. Loans start at $1,000 and can be as high as $40,000. Loan term lengths range from 24 to 60 months and there are no prepayment penalties. While it doesn't accept co-signers you can have a co-applicant where both of your credit histories will be considered. In addition to personal loans, LendingClub offers banking products like the LendingClub Rewards Checking Account, LendingClub LevelUp Savings Account and LendingClub CDs, as well as auto refinancing.
- Loan amounts: $1,000 to $40,000
- Loan terms: 24 or 60 months
- Credit needed: Good
- Quickest funding time: Same day
OneMain Financial
OneMain Financial aims to provide nonprime customers access to credit. It has over 1,300 physical branches across 44 states. While there are no early payoff penalties, the lender charges origination fees of either a flat fee ranging from $25 to $500 or a percentage of the loan you've taken out, ranging from 1% to 10%, depending on your state. And while most personal loans are unsecured, OneMain Financial offers borrowers the option of using collateral to potentially receive better loan terms.
- Loan amounts: $1,500 to $30,000
- Loan terms: 24 to 60 months
- Credit needed: Poor/fair
- Quickest funding time: 1 hour after closing
Avant
Avant Personal Loans can be a good option for those who need money in a pinch. It works with applicants with credit scores as low as 580 and you can prequalify with only a soft inquiry. You can receive your funds as early as the next day, can borrow as little as $2,000 and as much as $35,000, and loan terms range from 24 to 60 months. While there are no early payoff penalties, there is an origination fee of up to 4.75% and a late fee of up to $25 after the 10-day grace period.
- Loan amounts: $2,000 to $35,000
- Loan terms: 24 to 60 months
- Credit needed: Poor/fair
- Quickest funding time: 1 business day
Upgrade
Upgrade was founded in 2016 and has since provided its users with over $31 billion in credit. You can borrow up to $50,000 with terms ranging from just two years to 84 months. The online application process can be completed in minutes and you can receive your funds as quickly as one day.*
If you have an Upgrade Rewards Checking Plus account and contribute a $1,000 monthly direct deposit, you can qualify for loan interest rates of up to 20% lower.
- Loan amounts: $1,000 to $50,000
- Loan terms: 24 to 84 months
- Credit needed: 600+
- Quickest funding time: 1 business day
SoFi
Founded in 2011, SoFi has helped its customers pay off over $34 billion in debt. You can receive up to $100,000 in personal loan funding, the largest amount available on this list. SoFi personal loans do not require origination fees and there's a 0.25% interest rate reduction for signing up for autopay.
In addition to personal loans, SoFi offers a range of other financial products, such as checking and savings accounts, mortgages, investing accounts, credit cards, credit monitoring and more. SoFi customers also enjoy special perks like free personalized advice from a financial planner.
- Loan amounts: $5,000 to $100,000
- Loan terms: 24 to 84 months
- Credit needed: Good/excellent
- Quickest funding time: Same day
Prosper
Prosper was started in 2005 with the goal of helping their customers achieve financial well-being through their reasonable rates and quick approvals. It offers a peer-to-peer personal loan marketplace that provides an alternative to large financial institutions. Origination fees are between 2.41% to 5% and get deducted from the loan proceeds. Similar to many lenders, checking your rate with Prosper will not impact your credit score. If approved, you can have your money deposited into your bank account in as little as one business day.
- Loan amounts: $2,000 to $50,000
- Loan terms: 24, 36, 48 or 60 months
- Credit needed: 640+
- Quickest funding time: 1 business day
Rocket Loans
Rocket Loans is one of the sister companies of Rocket Mortgage, one of the nation's largest mortgage lenders. Rocket Loans can provide same-day funding and doesn't charge a prepayment penalty. It only offers two repayment terms: three or five years.
- Loan amounts: $2,000 to $45,000
- Loan terms: 36 or 60 months
- Credit needed: Not disclosed
- Quickest funding time: Same day
Best Egg
Best Egg aims to provide users with the financial products they need to succeed. It offers secured and unsecured personal loans of up to $50,000, though the maximum may be slightly lower in some states. Borrowers are charged an origination fee of 0.99% to 8.99% which is deducted from the loan proceeds. According to the site, about half of its customers get their funds the next day. To be considered for a term of up to 84 months, you must apply for the secured loan option. Otherwise, the maximum loan term is 60 months.
- Loan amounts: Up to $50,000
- Loan terms: 36 to 84 months
- Credit needed: Not disclosed
- Quickest funding time: 1 business day
What is an emergency loan?
An emergency loan often refers to a shorter-term, unsecured loan, that can provide you with funds quickly to cover an unexpected financial need. The timeline is a key part of emergency loans as they are typically paid off within one to three years — more traditional loan lenders often have repayment terms of around one to seven years, with some even longer.
Paying off your loan quickly means you'll pay less in interest compared to the same loan with a longer repayment term. Similarly to other loans, having a strong credit score will often benefit you through more favorable terms.
How to choose an emergency loan
There are a few factors to consider when choosing an emergency loan, including:
- 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.
- Payment timeline: Generally, emergency loans have shorter repayment terms, but it's most important to pick a timeline you feel confident you can meet financially.
- Funding time: Once approved, you should receive your funds within days, or even hours.
- Fees: Emergency loans come with different fees, including an origination fee. None of the loans on this list charges early repayment fees.
FAQs
Do you need a credit score for an emergency loan?
While having a strong credit score will often mean you get more favorable loan rates, some lenders, like OneMain Financial, do not have a minimum credit score requirement.
What is the easiest loan to get approved for?
One of the easiest loans to get approved for is a payday loan. However, payday loans can charge exorbitant interest rates, some as high as 400%. Theyre' considered predatory lending by the National Association of Consumer Advocates and
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 is an emergency loan?
While the exact definition varies, emergency loans are short-term, unsecured personal loans meant to cover urgent needs, such as car repairs or medical bills.
Can you pay back personal loans early?
While some lenders charge a penalty for early payment, none of the lenders on this list have prepayment penalties.
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. See our methodology for more information on how we choose the best emergency loans.
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Our methodology
To determine which emergency loans may be the best fit for applicants, CNBC Select analyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions. Some of those options may have origination fees. We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
When narrowing down and ranking the best personal loans, we focused on the following features:
- Fixed-rate APR: With a fixed-rate APR, you lock in an interest rate for the duration of the loan's term, which means your monthly payment won't vary.
- Flexible loan lengths: Each lender offers multiple loan terms to choose from.
- No early payoff penalties: The lenders on our list do not charge you for paying off loans early.
- Streamlined application process: We considered whether lenders offered same-day approval decisions and a fast online application process.
- Customer support: Every provider on our list has customer service available via telephone, email or online messaging.
- Unsecured loans: Every provider on this list offers unsecured loans, while some may also offer secured loans.
- Fund disbursement: The loans on our list deliver funds promptly and securely, some within the same day of approval.
- Creditor payment limits and loan sizes: The above lenders provide loans in an array of sizes, from $1,000 to $100,000. Each lender advertises its respective payment limits and loan sizes, and completing a preapproval process can give you an idea of what your interest rate and monthly payment would be for such an amount.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
The rates and fee structures advertised for personal loans are subject to fluctuate in accordance with the Fed rate. However, once you accept your loan agreement, a fixed-rate APR will guarantee your interest rate and monthly payment will remain consistent throughout the entire term of the loan. Your APR, monthly payment and loan amount depend on your credit history and creditworthiness. To take out a loan, many lenders will conduct a hard credit inquiry and request a full application, which could require proof of income, identity verification, proof of address and more.
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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.
