Best emergency loans for good credit

Best Egg
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- Min. credit score:
- 600
- Fixed APR From:
- 8.99% –35.99%
- Loan amount:
- $2,000– $50,000
- Term lengths:
- 3 to 5 years
- Min. annual income:
- Not disclosed
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Heidi Rivera is a student loans writer for Bankrate. She began her journey in the personal finance space in 2018 and is passionate about collecting data and creating content around higher education and student loans.
Hannah has been editing for Bankrate since late 2022. They aim to provide the most up-to-date information to help people navigate the complexities of loans and make the best financial decisions.
Mark Kantrowitz is an expert on student financial aid, the FAFSA, scholarships, 529 plans, education tax benefits and student loans.
Emergency loans are personal loans designed to help cover unexpected expenses such as medical bills and last-minute home repairs. Personal loans allow you to take out a lump sum of money and pay it back in monthly installments. But because these loans are intended for immediate needs, they tend to have higher interest rates than other types of loans.
Bankrate outlines the best personal loans for emergencies based on interest rates, terms and features each lender offers. We also explain how to find and apply for an emergency loan, the types of emergency loans that are available and the pros and cons of taking one out.
The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products. Bankrate does not endorse or recommend any companies.
Bankrate’s scores for personal loan lenders evaluate 11 data points related to loan costs and terms, as well as customer experience. | The annual percentage rate (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing. | The range of loan amounts that a lender will service. The maximum value is the largest amount a lender will give although this amount may not be available to borrowers who don’t have good or excellent credit. Amount ranges may vary for non-loan products. Term refers to the amount of time you have to repay the loan. | The minimum credit score typically required to qualify for a loan with a given lender. Exact thresholds are not always disclosed by a lender and in certain cases the minimum score is the best estimate based on publicly available information. Credit score refers to FICO 9.0 unless otherwise stated. | ||
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APR from 8.49- 35.97% with AutoPay | Loan Amount $1k–$50K Term: 2-7 yr | Min. Credit Not disclosed | ![]()
Personal loans made through Upgrade feature APRs of 7.99%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/. | Check rate with Bankrate | |
APR from 8.99- 35.99% | Loan Amount $2k–$50K Term: 3-5 yr | Min. Credit 600 | ![]()
GENERAL AFFILIATE DISCLOSURE UPDATE AS OF 03.2023 *Trustpilot TrustScore as of December 2022. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable. The term, amount, and APR of any loan we offer to you will depend on your credit sc¬ore, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; Ohio, $5,000; and Georgia, $3,000. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Joseph Walsh – Operations Manager, Email: ccrt-resolution@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-82-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories. | Check rate with Bankrate | |
APR from 6.99- 35.99% | Loan Amount $2k–$50K Term: 2-5 yr | Min. Credit 640 | ![]()
APRs presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at Prosper.com. The estimated APR presented does not bind Prosper. The range of APRs available through Prosper is 6.99% to 35.99%. Only borrowers with excellent credit qualify for the lowest rate available. Your actual APR depends upon credit score, Prosper Rating, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. All personal loans made by WebBank, Member FDIC. For example, a two-year $10,000 personal loan would have an interest rate of 11.5% and a 4.00% origination fee for an annual percentage rate (APR) of 15.64% APR. You would receive $9,600 and make 24 scheduled monthly payments of $468.40. A three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A four-year $10,000 personal loan would have an interest rate of 11.50% and a 5.00% origination fee for an annual percentage rate (APR) of 14.27% APR. You would receive $9,500 and make 48 scheduled monthly payments of $260.89. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 1%-5%. Personal loan APRs through Prosper range from 6.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. **You may receive your funds one business day after your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s ability to quickly process the transaction. | Check rate with Bankrate | |
APR from 18.00- 35.99% | Loan Amount $1.5k–$20K Term: 2-5 yr | Min. Credit Not disclosed | ![]()
You must apply for this offer and continue to meet the criteria used to select you for this offer. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Maximum APR is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expenses; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Current OneMain Customers: The above offer assumes that you do not have a current loan with OneMain or one of its affiliates. If you apply for the offer, a OneMain representative will discuss options available for current customers.
Additional conditions for secured loans: Secured loans require a first lien on a motor vehicle that meets our value requirements, titled in your name with valid insurance. Active duty military, their spouse or dependents covered by the Military Lending Act may not pledge any vehicle as collateral. If you are covered by the Military Lending Act, you are not eligible for secured offers.
Time to Fund Loans: Funding within one hour after 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 loan closing. | Check rate with Bankrate | |
APR from 9.95- 35.95% | Loan Amount $2k–$35K Term: 1-5 yr | Min. Credit Not disclosed | ![]()
Overview: Avant is a popular lender for borrowers with fair to poor credit. Its minimum credit score requirement is 580 FICO and 550 Vantage, lower than many other lenders. Avant is also a good choice for borrowers who haven’t built up much credit yet. | Check rate with Bankrate | |
APR from 34.00- 155.00% | Loan Amount $1k–$10K Term: 0.5-5 yr | Min. Credit Not disclosed | ![]()
NetCredit is an industry-leading online financial services provider. Depending on your state, your loan will be originated by NetCredit or a lending partner bank. You may be asked to provide additional documents to verify your income, identity and bank account. In some states, Annual Percentage Rate may be inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments may incur additional fees and may increase the cost of your fixed rate loan. Please refer to NetCredit's Terms of Use, Rates & Terms and Borrower Agreement for all terms, conditions and requirements. | Check rate with Bankrate |
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At Bankrate, our mission is to empower you to make smarter financial decisions. We’ve been comparing and surveying financial institutions for more than 40 years to help you find the right products for your situation. Our award-winning editorial team follows strict guidelines to ensure the content is not influenced by advertisers. Additionally, our content is thoroughly reported and vigorously edited to ensure accuracy.
When shopping for an emergency loan, compare APRs across multiple lenders to make sure you’re getting a competitive rate. Also look for lenders that keep fees to a minimum and offer repayment terms that fit your needs.
Loan details presented here are current as of the publication date. Check the lenders’ websites to confirm information.
LENDER | CURRENT APR RANGE | LOAN AMOUNT | MINIMUM CREDIT SCORE | BEST FOR |
---|---|---|---|---|
Best Egg | 8.99%-35.99% | $2,000-$50,000 | 600 | Good credit |
Avant | 9.95%-35.95% | $2,000-$35,000 | 580* | Fair credit |
LendingPoint | 7.99%-35.99% | $2,000-$36,500 | 600 | Bad credit |
OneMain Financial | 18.00%-35.99% | $1,500-$20,000 | Not specified | Small loan amounts |
Upgrade | 8.49%-35.97% | $1,000-$50,000 | 560 | Fast funding |
Upstart | 6.70%-35.99% | $1,000-$50,000 | No requirement | Range of loan amounts |
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Time to receive funds: Next business day after approval.
Requirements:
Check rate with Bankrate
Who it’s for: Borrowers with less-than-perfect credit who need quick cash.
Fees: Origination fee of up to 8%.
Time to receive funds: Next business day after approval.
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Who it’s for: Borrowers who only need to borrow a small amount.
Time to receive funds: Same day after closing or within 2 business days, depending on the disbursement method.
Requirements: None
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Time to receive funds: Next business day after approval.
Requirements: Lender verifies your overall financial health.
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Emergency loans are personal loans that are used for unexpected expenses, such as medical treatment or a car breakdown. Compared to other types of loans, emergency loans may have high interest rates.
There are different types of emergency loans with their own unique features. Oftentimes, they are made for a few thousand dollars and can be disbursed within a few days. Some emergency loan lenders even disburse funds on the same day as approval, making it easier to address urgent needs.
If you need fast cash to cover an emergency expense, an emergency loan may be a good option. If your air conditioner breaks down in the middle of summer you can receive the money you need with an emergency loan to repair it as soon as possible.
Once the repair is made, you'll be able to have the flexibility to pay the loan back in installments. Likewise, emergency loans may be a lifesaver if you've suddenly lost your job and could use some extra cash to pay your bills.
There are many ways to get funds in an emergency. Types of emergency loans include:
Personal loans are a good option for emergencies because they can be disbursed quickly, sometimes within the same day of approval. They can also be less expensive to use than credit cards — while many credit cards have interest rates upwards of 20 percent or more, the average personal loan interest rate hovers below 11 percent, and good-credit borrowers can score rates as low as 6.5 percent.
Home equity loans and home equity lines of credit (HELOCs) are less common for emergency uses since they're typically slower to disburse funds. However, they will usually offer the lowest rates since they're secured by your home.
Your credit card company may extend you a short-term loan in the form of a cash advance. This type of loan is one of the fastest ways to access money, but the interest rates and fees can be sky-high.
Payday loans are short-term loans that don't require a credit check and will typically need to be repaid by your next payday. Payday loans are extremely risky and not recommended; they charge triple-digit interest rates and high fees, and failing to make payments could send you deeper into debt.
Generally, personal loans do not have restrictions on what you use it for. Lenders typically have a few rules about things you can't use the money for, such as gambling or for illegal activities. Otherwise, you can generally use your loan money for whatever you want.
Because emergency loans don't have rules about what you need to use them for, you could get a loan for situations like the following:
While you can use an emergency loan for nearly anything, make sure that you only borrow as much as you need and what you can repay.
When you need money in a pinch, it's easy to jump to the lender with the lowest advertised APR. However, it's usually best to compare personal loan offers from a few lenders before committing to one. When comparing lenders, look for features like:
The easiest loan to get is not always the best loan. For instance, payday lenders will approve loans quickly and without checking credit, but their risk is often not worth the benefit.
Instead of searching out these types of lenders, look for emergency loans from reputable banks, credit unions and online lenders. Many of these lenders list their credit requirements on their websites, and most offer prequalification — meaning you can easily apply and see if you'll be approved within minutes and without damaging your credit score.
You can get an emergency loan from any lender that provides personal loans. This includes banks, credit unions, online lenders and even payday lenders. However, some of these are better options than others.
Banks and credit unions can offer several advantages in rates and loan terms, but their loan processes tend to take longer than other options. If you need money right away, you may not have the time to wait.
If you need money quickly, an online lender may be your best option. Some lenders offer immediate, same-day or next-day approval. Even if the funding isn't available on the same day, several offer funding within a day or two.
The variety of the options also means you can shop around to find the best rates and loan terms for you, and you can likely find an option no matter what your credit score is.
Taking out a loan always causes your credit score to dip a bit at first, but as long as you make your monthly payments on time, your credit score will not be permanently damaged. Making on time payments can actually improve your credit score over time.
Getting a loan can be more difficult if you don't have a job. Lenders want to make sure that you can repay what you borrow. If you have other forms of income, you might still be able to qualify. If you can't qualify for a loan on your own when you are unemployed, you may need to look for a lender that allows co-signers or co-borrowers.
Funding time depends on the individual lender. Some lenders distribute funds the same day you apply, while others may take a few days. While most online lenders offer funding within a week of applying, slower institutions can take up to a few weeks.
To select the top emergency personal loan lenders, Bankrate reviewed and scored 32 personal loan lenders across three main categories: availability, affordability and overall customer experience.
Our selection of lenders feature relatively low fees, flexible loan amounts, fast funding and flexible repayment terms. Additionally, they offer perks, like prequalification tools, autopay discounts, mobile account management and a range of customer service hours, that enhance the overall borrowing experience.