If you want a quick cash loan, these 6 online lenders could provide you the money the same day. These banks are SoFi (Personal Loans), LightStream, Rocket Loans, Upstart, TD Bank, and US Bank. They offer one of the lowest interest personal loans in the industry from starting from 3.50% APR.
Summary table of these US Banks offering a Quick Cash Loan
| Bank Name | Loan Amount | Interest Rates (APR) | Loan Terms |
|---|---|---|---|
| SoFi Personal Loans ⭐⭐⭐⭐⭐ | $5,000 – $100,000 | 4.99% – 19.65% | 2-7 years |
| Upstart Personal Loan | $1,000 – $50,000 | 3.50% – 35.99% | 3-5 years |
| Rocket Personal Loans | $2,000 – $45,000 | 9.12% – 29.99% | 3-5 years |
| LightStream Personal Loans | $5,000 – $100,000 | 7.49% – 25.65% | 2-7 years |
| TD Bank Personal Loans | $2,000 – $50,000 | 8.99% – 23.99% | 3-5 years |
| US Bank Personal Loans | $1,000 – $25,000 | 8.78% – 24.99 | 1-5 years |
Although there are several online lenders in the US offering fast personal loans online, the interest rate on most of them is very high, as well as their strict requirements. With the lenders on this list, you can get fast and lowest interest personal loans with same-day approval and funding.
1. ⭐⭐ SoFi Personal Loans ⭐⭐
- Loan Amount Between: $5,000.00 to $100,000.00
- Interest Rates (APR): 4.99% to 19.65% (Fixed)
- Loan Terms: 2 to 7 years
- Approval Time: In many cases it’s same-day Approval and Funding
- Fees Required: No
- Perks: Unemployment Protection. If you lose your job, SoFi will temporarily help you modify your payments to be less stressful for you.
- Requirements: Usually requires a good credit score of not less than 670 and proof of income. They might also consider other financial aspects.
Learn more about SoFi Personal Loans in this review ➔
2. Upstart Personal Loan
- Loan Amount Between: $1,000.00 to $50,000.00
- Interest Rates (APR): 3.50% to 35.99% (Fixed)
- Loan Terms: 3 to 5 years
- Approval Time: In one business day as long as you apply before 12:00 AM ET
- Fees Required: No
- Requirements: Unlike traditional lenders, Upstart considers factors beyond credit score, such as education and employment. You can get a personal loan with upstart even if your credit score is 300. But the interest rates will be on the higher end.
Learn more about Upstart Personal Loans in this review ➔
3. Rocket Personal Loans
- Loan Amount Between: $2,000.00 to $45,000.00
- Interest Rates (APR): 9.12% to 29.99% (Fixed)
- Loan Terms: 3 to 5 years
- Approval Time: Same-day Approval
- Fees Required: You have to pay origination fee of up to 9% of the loan amount which adds up to the cost of the loan.
- Requirements: Requires proof of income and a fair min credit score of 640 and a minimum annual income of $24,000.00
4. LightStream Personal Loans
- Loan Amount Between: $5,000.00 to $100,000.00
- Interest Rates (APR): 7.49% to 25.65% (Fixed)
- Loan Terms: 2 to 7 years
- Approval Time: Same-day Approval and Funding depending on the time of the day you applied
- Fees Required: No
- Requirements: You need good credit score of at least 600 and a proof of income.
Learn more about LightStream Personal Loans in this review ➔
5. TD Bank Personal Loans
- Loan Amount Between: $2,000.00 to $50,000.00
- Interest Rates (APR): 8.99% to 23.99% (Fixed)
- Loan Terms: 3 to 5 years
- Approval Time: Same-day Approval but funds arrive the next business day.
- Fees Required: No application, origination nor early payoff penalty fees.
- Requirements: Requires proof of income and a fair min credit score of 640 and a minimum annual income of $24,000.00
Note: Although TD Bank does provides quick cash loan, they conduct a hard credit pull if you decide to apply for their personal loans. This hard credit pull might have impact your credit score. So make sure yo fulfil their requirements before applying.
6. US Bank Personal Loans
- Loan Amount Between: $1,000.00 to $25,000.00 for non customers.
- Interest Rates (APR): 8.78% to 24.99% (Fixed).
- Loan Terms: 1 to 5 years for non customers.
- Approval Time: Same-day Approval and Funding within few hours after approval.
- Fees Required: No origination fees or prepayment penalty.
- Perks: You save 0.50% if you set up automatic payment (debit authorization).
- Requirements: To get a personal loan from US Bank, they will require your Social Security number (SSN), Home address, Employment information. If your credit score is below 720, your APR could be higher, thus making this loan a bit expensive.
Based on your needs, you can easily get a quick cash loan from the above lenders as long as you meet their requirements. These banks and lending providers are reputable in the industry when it comes to having a straight forward loan services. You can easily take advantage of these same day personal loans offers and get funds deposited in your account within 24hrs.
Bottom Line
In my opinion, it’s important to be cautious with other quick cash loans, since they could carry high interest rates and fees. Payday loans, in particular, are known for high APRs, often around 400%, and should be considered as a last resort due to their short repayment terms and high costs. Similarly, car title loans and pawn shop loans also come with high interest rates and risks, such as the possibility of losing your collateral.
If you do not qualify for traditional personal loans or are concerned about high rates, alternatives like applying for a loan with a cosigner or getting a secured loan might be viable options in my opinion. Secured loans require collateral, which can make lenders more willing to approve your loan application. However, remember that failing to repay a secured loan could result in losing your collateral.
