How Long Does It Take To Get A Personal Loan

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

If you don't have the cash saved in the bank to cover a major cost, taking out a personal loan could be a good idea.

It usually takes one and seven business days to get a personal loan — though this will depend on which type of lender you work with.

Here's how long it typically takes to get a personal loan:

Online lenders: Less than 5 business days
Banks: 1-7 business days
Credit unions: 1-7 business days
Payday loans, pawn shop loans, and car title loans: Can be same day

Online lenders: Less than 5 business days

If you need money quickly, an online lender could be a good option. You can often apply online within minutes and might even get an instant decision, depending on the lender. If you're approved, you'll typically get the funds within five business days.

Some lenders send money even faster — for example, Lightstream might fund your loan as soon as the same business day.

Be sure to consider as many lenders as possible before taking out a personal loan. This way, you can find the right loan for you. Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes.

Lender	Fixed rates	Loan amounts	Time to fund
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	9.95% - 35.99% APR	$2,000 to $35,000 ^**	As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Fixed APR: 9.95% - 35.99% APR Variable APR: N/A Min. credit score: 550 Loan amount: $2,000 to $35,000** Loan terms (years): 2, 3, 4, 5* Time to fund: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday) Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except CO, IA, HI, VT, NV NY, WV Customer service: Phone, email Soft credit check: Yes Loan servicer: Avant Loan Uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes Min. Income: $1,200 monthly
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	6.79% - 17.99% APR	$10,000 to $50,000	Next business day
Fixed APR: 6.79% - 17.99% APR Variable APR: N/A Min. credit score: 700 Loan amount: $10,000 to $50,000 Loan terms (years): 3 to 6 Time to fund: Next business day Fees: No prepayment penalty Discounts: None Eligibility: Available in all 50 states Customer service: Phone Soft credit check: Yes Min. Income: Does not disclose Loan Uses: Debt consolidation, home improvement, self-employment, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.99% - 35.99% APR	$2,000 to $50,000	As soon as 1 - 3 business days after successful verification
Fixed APR: 4.99% - 35.99% APR Variable APR: N/A Min. credit score: 600 Loan amount: $2,000 to $50,000 Loan terms (years): 2, 3, 4, 5 Time to fund: As soon as 1 - 3 business days after successful verification Fees: Origination fee Discounts: None Eligibility: Available in all states except DC, IA, VT, and WV Customer service: Phone Soft credit check: Yes Loan servicer: Best Egg and Blue Ridge Bank Min. Income: None Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.99% - 24.99% APR	$2,500 to $35,000	As soon as the next business day after acceptance
Fixed APR: 5.99% - 24.99% APR Min. credit score: 660 Loan amount: $2,500 to $35,000 Loan terms (years): 3, 4, 5, 6, 7 Time to fund: As soon as the next business day after acceptance Fees: Late fee Discounts: None Eligibility: Available in all 50 states Customer service: Phone Soft credit check: Yes Loan Uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	7.99% - 29.99% APR	$10,000 to $35,000	As soon as 2 business days
Fixed APR: 7.99% - 29.99% APR Min. credit score: Does not disclose Loan amount: $10,000 to $50,000 Loan terms (years): 2, 3, 4, 5 Time to fund: As soon as 2 business days Fees: Origination fee Discounts: No Eligibility: Available in all states except CO, CT, HI, KS, NH, NY, ND, OR, VT, WV, WI, and WY Customer service: Phone Soft credit check: Yes Min. Income: None Loan Uses: Debt consolidation, home improvement, wedding, travel, medical expenses, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	7.04% - 35.89% APR	$1,000 to $40,000	Usually takes about 2 days^†
Fixed APR: 7.04% - 35.89% APR Min. credit score: 600 Loan amount: $1,000 to $40,000 Loan terms (years): 3, 5 Time to fund: Usually takes about 2 days^† Fees: Origination fee Discounts: None Eligibility: Available in all 50 states Customer service: Phone, email Soft credit check: Yes Loan servicer: LendingClub Bank Min. Income: None Loan Uses: Debt consolidation, paying off credit cards, home improvement, pool loans, vacations, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	9.99% - 35.99% APR	$2,000 to $36,500	As soon as the next business day
Fixed APR: 9.99% - 35.99% APR Min. credit score: 580 Loan amount: $2,000 to $36,500 Loan terms (years): 2, 3, 4 Time to fund: As soon as the next business day Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except NV and WV Customer service: Phone, email Soft credit check: Yes Min. Income: $20,000 Loan Uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.49% - 19.99% APR	$5,000 to $100,000	As soon as the same business day
Fixed APR: 2.49% - 19.99% APR Min. credit score: 660 Loan amount: $5,000 to $100,000 Loan terms (years): 2, 3, 4, 5, 6, 7* Time to fund: As soon as the same business day Fees: None Discounts: Autopay Eligibility: Available in all states except RI and VT Customer service: Phone, email Soft credit check: No Loan servicer: LightStream Min. Income: Does not disclose Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	6.99% - 19.99% APR¹	$3,500 to $40,000²	Many Marcus customers receive funds in as little as three days
Fixed APR: 6.99% - 19.99% APR¹ Min. credit score: 660 (TransUnion FICO®️ Score 9) Loan amount: $3,500 to $40,000² Loan terms (years): 3, 4, 5, 6 Time to fund: Many Marcus customers receive funds in as little as three days Fees: None Discounts: Autopay Eligibility: Available in all 50 states Customer service: Phone Soft credit check: Yes Loan servicer: Goldman Sachs Min. Income: $30,000 Loan Uses: Credit card refinancing, debt consolidation, home improvement, major purchase, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	18.0% - 35.99% APR	$1,500 to $20,000	As soon as the same day, but usually requires a visit to a branch office
Fixed APR: 18.0% - 35.99% APR Min. credit score: None Loan amount: $1,500 to $20,000 Loan terms (years): 2, 3, 4, 5 Time to fund: As soon as the same day, but usually requires a visit to a branch office Fees: Origination fee Discounts: None Eligibility: Must have photo I.D. issued by U.S. federal, state or local government Customer service: Phone, email Soft credit check: Yes Min. Income: Does not disclose
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.99% - 24.99% APR	$5,000 to $40,000	As soon as 2 - 5 business days after verification
Fixed APR: 5.99% - 24.99% APR Min. credit score: 600 Loan amount: $5,000 to $40,000 Loan terms (years): 2, 3, 4, 5 Time to fund: As soon as 2 - 5 business days after verification Fees: Origination fee Discounts: None Eligibility: Available in all states except MA, NV, and OH Customer service: Phone, email, chat Soft credit check: Yes Min. Income: None Loan Uses: Debt consolidation and credit card consolidation only
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.99% - 17.99% APR	$600 to $50,000 (depending on loan term)	2 to 4 business days after verification
Fixed APR: 5.99% - 17.99% APR Min. credit score: 660 Loan amount: $600 to $50,000* Loan terms (years): 1, 2, 3, 4, 5 Time to fund: 2 to 4 business days after verification Fees: None Discounts: None Eligibility: Does not disclose Customer service: Phone, email Soft credit check: No Min. Income: Does not disclose Loan Uses: Debt consolidation, home improvement, transportation, medical, dental, life events
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	6.95% - 35.99% APR	$2,000 to $40,000	As soon as one business day
Fixed APR: 6.95% - 35.99% APR Min. credit score: 640 Loan amount: $2,000 to $40,000 Loan terms (years): 3, 5 Time to fund: As soon as one business day Fees: Origination fee Discounts: None Eligibility: Available in all states except IA, ND, WV Customer service: Phone, email Soft credit check: Yes Min. Income: None Loan Uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.74% - 19.28% APR¹⁰	$5,000 to $100,000	3 business days
Fixed APR: 4.74% - 19.28% APR¹⁰ Min. credit score: Does not disclose Loan amount: $5,000 to $100,000 Loan terms (years): 2, 3, 4, 5, 6, 7 Time to fund: 3 business days Fees: None Discounts: Autopay Eligibility: Available in all states except MS Customer service: Phone, email Soft credit check: Yes Min. Income: Does not disclose Loan Uses: Solely for personal, family, or household uses
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	8.93% - 35.93% APR⁷	$1,000 to $50,000	Within one day, once approved⁹
Fixed APR: 8.93% - 35.93% APR⁷ Min. credit score: 560 Loan amount: $1,000 to $50,000 Loan terms: 3 to 5 years ⁸ Time to fund: Within one day, once approved⁹ Loan types: Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases Fees: Origination fee Discounts: Autopay Eligibility: A U.S. citizen or permanent resident; not available in DC, SC, WV Customer service: Phone, email Soft credit check: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.94% - 35.97% APR	$1,000 to $50,000	Within a day of clearing necessary verifications
Fixed APR: 5.94% - 35.97% APR Min. credit score: 560 Loan amount: $1,000 to $50,000* Loan terms (years): 2, 3, 5, 6 Time to fund: Within a day of clearing necessary verifications Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except West Virginia Customer service: Email Soft credit check: Yes Min. Income: Does not disclose Loan Uses: Debt consolidation, credit card refinancing, home improvement, and other purposes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.37% - 35.99% APR⁴	$1,000 to $50,000⁵	As fast as 1 business day⁶
Fixed APR: 4.37% - 35.99% APR⁴ Min. credit score: 580 Loan amount: $1,000 to $50,000⁵ Loan terms (years): 3 to 5 years⁴ Time to fund: As fast as 1 business day⁶ Fees: Origination fee Discounts: None Eligibility: Available in all 50 states Customer service: Phone, email Soft credit check: Yes Min. Income: $12,000 Loan Uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes
Compare rates from these lenders without affecting your credit score. 100% free! Get Rates Now
All APRs reflect autopay and loyalty discounts where available \| LightStream disclosure \| ¹⁰SoFi Disclosures \| Read more about Rates and Terms

With online lenders, you can often apply for preapproval to check your rates before submitting a full application and undergoing a hard credit inquiry. This way, you can shop around before choosing a lender.

Keep in mind: Many online lenders have strict credit and debt-to-income (DTI) ratio requirements.

If you have less-stellar-credit or a significant amount of debt, you might not qualify for the lowest interest rates.

Check Out:

Secured Personal Loans
How to Check If a Personal Loan Company Is Legitimate

Banks: 1-7 business days

If you already have a checking or savings account with a bank, you might be interested in applying for a loan through that same institution.

Personal loans from banks typically take one to seven days to fund, depending on the bank and whether you have an account with them. Wells Fargo is one of the fastest personal loan issuers, disbursing funds often by the next business day.

Some banks allow you to apply online, while others require you to apply in person at a local branch. The lender will review your information, including your income and credit score, before making a decision on your loan application.

You might also qualify for interest rates discounts if you have an existing relationship with the bank.

Keep in mind: Several major banks don't issue personal loans, including Bank of America, Capital One, and Chase.

If you do your banking with any of these institutions, you'll need to find another lender.

Here are some popular banks that offer personal loans. Note that these lenders are not partnered with Credible, so you won't easily be able to compare your rates all at once.

Lender	Rates	Loan amounts	Time to fund
Citibank	Check with lender	$2,000 to $30,000	Check will be mailed within five business days
Discover	Check with lender	$2,500 to $35,000	As soon as the next business day after acceptance
HSBC Bank	Check with lender	$3,000 - $50,000 (depending on relationship with HSBC Bank)	As soon as the same or next business day (depending on relationship with HSBC Bank)
TD Bank	Check with lender	$2,000 to $50,000	As little as one business day
Wells Fargo	Check with lender	$3,000 to $100,000	As soon as the next business day

Learn More: Small Loans

Credit unions: 1-7 business days

As nonprofit organizations, credit unions often offer lower interest rates than traditional banks. This could make them a good option for a personal loan.

Credit unions also sometimes have less stringent requirements, which means it might be easier to qualify for a personal loan through a credit union compared to other lenders.

Keep in mind: To get a personal loan through a credit union, you'll need to be a member of that credit union.

Each credit union has its own set of membership eligibility requirements, so be sure to research which credit unions you might qualify to join.

Like banks, the disbursement time for a personal loan from a credit union can range from one to seven business days. However, there are some credit unions that are especially fast.

For example, Alliant Credit Union and Navy Federal Credit Union both typically deposit the money into your account the same day you're approved.

Here are a few credit unions that offer personal loans. Note that these lenders are not partnered with Credible, so you won't easily be able to compare your rates all at once.

Lender	Rates	Loan amounts	Time to fund
Alliant Credit Union	Check with lender	$1,000 to $50,000	Typically same-day deposit
First Tech Federal Credit Union	Check with lender	$500 to $50,000	Same day your loan is approved for most applicants
Navy Federal Credit Union	Check with lender	$250 to $50,000 ($30,000 minimum for home improvement loans)	Same-day funding in most cases

Check Out: Short-Term Loans

Payday loans, pawn shop loans, and car title loans: Can be same day

If you need money as soon as possible, payday, pawn shop, or car title loan lenders can usually give you cash on the spot. But this convenience comes at a hefty price.

Here are the average interest rates you can expect from these types of loans:

Payday loans: 300% to 500%
Pawn shop loans: 12% to 240% (or higher)
Car title loans: 300%

Borrower beware: These astronomically high fees and interest rates could make it difficult to pay off your loan, causing you to end up further in debt as interest charges accrue.

Also keep in mind that these lenders that provide these types of loans can also be predatory in nature.

A payday loan, pawn shop loan, or car title loan should be a last resort if you need quick cash. A same-day personal loan or even a credit card could be a much less costly choice in the long run.

If you're considering a personal loan, use our personal loan calculator below to estimate how much you'll pay for it over time.

Enter your loan information to calculate how much you could pay

Loan amount ? Enter the total amount borrowed $

Interest rate ? Enter your annual interest rate %

Loan term ? Enter the amount of time you have to repay your loan years

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.

Need a personal loan?
Compare rates without affecting your credit score. 100% free!

Check Personalized Rates

Checking rates won't affect your credit score.

Learn More: Cash-Advance Loans

What you need to apply for a loan

To ensure the application process goes as quickly as possible, it's a good idea to prepare ahead of time. Lenders will ask you for basic information, which often includes the following:

Name
Social Security number
Address
Phone number
Proof of identity (such as a driver's license or passport)
Annual income
Proof of income (such as a pay stub or W-2 form)

To qualify for a personal loan, you'll generally need at least good credit. However, there are some lenders — such as Avant and LendingPoint — that are willing to work with borrowers who have poor or fair credit.

Keep in mind that you'll need good to excellent credit to qualify for the best interest rates.

Tip: If your credit score doesn't mean lender requirements, having a creditworthy cosigner might help you qualify. A cosigner is someone with good or excellent credit who shares responsibility for the loan.

Not all lenders allow cosigners, but some — such as LendingClub and SoFi — do, which could improve your chances of getting approved. Even if you don't need a cosigner to qualify, having a cosigner might help you get a lower interest rate.

Learn More:

How to Get a Fast Personal Loan for Quick Cash
Cosigned Personal Loans

Getting a personal loan from an online lender is convenient

How long it takes to get a personal loan generally depends on which lender you choose. Choosing an online lender is often the fastest and easiest option — if you're approved, you might get your funds as quickly as the same day you apply.

If you decide to take out a personal loan, be sure to consider as many lenders as possible to find the right loan for you. With Credible, you can easily compare your prequalified rates from multiple lenders in two minutes after filling out a single form.

Plus, all of Credible's partner lenders are online, meaning the application and funding process will be quick and simple.

Ready to find your personal loan?
Credible makes it easy to find the right loan for you.

Free to use, no hidden fees
One simple form, easy to fill out and your info is protected
More options, pick the loan option that best fits your personal needs
Here for you. Our team is here to help you reach your financial goals

Find My Rate
Checking rates won't affect your credit

About the author

Kat Tretina

Kat Tretina is a freelance writer who covers everything from student loans to personal loans to mortgages. Her work has appeared in publications like the Huffington Post, Money Magazine, MarketWatch, Business Insider, and more.