Next Day Personal Loan: What It Is & Best Offers

Personal loans have long been the most popular choice for borrowers because they have many advantages. They can be used for almost any legitimate purpose, have a low APR compared to credit cards, and are affordable even to people with low FICO scores.

Another significant advantage of this type of loan is that many lenders provide them within 1-3 days. So, if you need funds today or tomorrow, you should contact a financial institution that offers next-day personal loans. We will tell you more about them in this article.

Best Next-Day Personal Loans

There are many factors to consider when choosing a lender, from the requirements for borrowers to the various fees. But, of course, if you need money urgently, you don’t have time to go through all the offers in detail, which is why we’ve added six of the best lenders from whom you can get from $100 to $100,000 the next day.

Read more about each option and choose the one that best meets your needs.


Upgrade is one of the best personal loan lenders in the United States, except in Iowa, West Virginia, and Washington, D. C. Here, you can borrow from $1,000 to $50,000 even with a bad credit score as long as you are officially employed.

Of the advantages of this option, we can highlight the following:

  • Large selection of repayment terms (from 2 to 7 years).
  • Standard APR of up to 35.97% (the average for lenders; only 5% have lower interest rates).
  • Possibility to get a loan in just one business day (your application will be processed in just a few minutes, and funds will come into your account within 24 hours).
  • Upgrade offers a rate discount for connecting auto payments and allows borrowers to change the date of repayment of the loan so that it is more convenient for them to pay it off.
  • The company has a handy app where you can monitor your loan payments, take free financial literacy courses, and use credit monitoring.

The main drawback to this option is the high origination fee of 2.9% to 8% and late fees of up to $10. Otherwise, it’s an excellent choice for anyone who needs a next-day personal loan.


Upstart allows you to get next-day personal loans at an APR of 0.07% to 35.99%, even for those with no credit history. This online platform is from $1,000 to $50,000 for 3 or 5 years but charges an origination fee of 0% to 10%.

Upstart uses artificial intelligence and nontraditional data to make loan decisions, allowing users with low credit scores to have access to favorable personal loans. In addition, an essential advantage of this company is the ability to get money in less than 24 hours, thanks to soft credit checks and instant approval.

When applying for a loan with Upstart, you will need to provide the following information and documents:

  • Your first and last name, ID.
  • Proof of formal full-time employment or job offer that starts within six months.
  • Bank account information.
  • Proof of income (must be at least $12,000 per year).

The only significant drawback of this company is the lack of a mobile app to manage the loan. Also, some users complain that they can only choose two loan terms.

Considering all the information above, we can conclude that Upstart is the best option for next day personal loan lenders for those just starting to build their credit history.

CashAdvance is best for those who need to get a few hundred dollars before payday in a hurry. The company lends up to $1,000 with no credit check, so it usually takes no more than 24 hours from the business day application to the time you get the money in your account.

We noticed the following advantages of this company:

  • It does not impose credit score requirements on its clients and works with all categories of borrowers.
  • The chance of getting a loan through this platform is very high, as it has a broad base of lenders.
  • You can borrow a small amount before payday to cover urgent expenses, while many lenders lend at least $1,000 or $5,000.

Of course, has a few drawbacks as well. For example, most users complain about high interest rates, from 782% to 1564%. In addition, the company’s disadvantage can be considered the fact that it gives loans only to officially employed people whose income exceeds $1,000 a month.

When you need to borrow a small amount of money to spend today or tomorrow, may be a good option. However, in all other cases, it’s better to consider other companies with lower APRs.


SoFi is an excellent option for borrowers with good credit scores. Here, you can borrow from $5,000 to $100,000 and, most importantly, get the funds into your account within one business day!

What advantages of this next-day personal loan lender should you know?

  • The company offers a low APR of 7.99% to 23.43%
  • You can choose any convenient repayment period from 24 to 84 months.
  • SoFi does not charge origination fees or late fees.
  • Borrowing is available even to those whose annual income is only $3,500.
  • SoFi has a feature-rich app where you can apply, find out the company’s response, and even pay off the loan after you receive it.

Judging by user reviews, SoFi has only two major drawbacks – a high minimum loan threshold and the need to have a good FICO score and official employment to qualify. Otherwise, it’s a great lender.


Avant is one of the best next day personal loan lenders for those with bad credit scores because borrowers need only 550 points to qualify. The company can lend you anything from $2,000 to $35,000 at 9.95% – 35.95% for terms of 1 to 5 years.

In addition to working with all types of borrowers, Avant also has a low origination fee of 0% – 4.75% and allows you to receive funds within 24 hours of application approval. You will also have to pay a late fee of $25 for each late monthly payment, but if you pay back the loan early, Avant will not charge any penalties.

Among the company’s other strengths, users note the ability to switch monthly payment dates and a convenient online application. On the other hand, they complain that to get a loan, they must have a minimum income of $1,200 or more, which is higher than many competitors.

Avant is a great lender for those with bad credit. However, if you have more than a 670 FICO score, you are better off going to another financial institution with better terms.

Rocket Loans

This financial organization allows people with more than 640 FICO points to get next-day personal loans ranging from $2,000 to $45,000. Unlike many other lenders, this company has an APR range of 8.416% – 29.99% but offers only two repayment terms of 3 and 5 years.

To qualify for a loan from this financial organization, you need a credit history of over two years old and a minimum income of $24,000. However, if you qualify, you should consider this option, as the company offers same-day approval, and even same-day funding may be possible.

If you connect autopay, you can get a discount on the interest rate, which is a plus for the lender. However, at the same time, the company charges relatively high origination and late fees, which many users point out as its disadvantage.

Rocket Loans will be the best choice for those who need a loan today. Remember, however, that borrowers with bad credit need to go to another company.

What Is Next Day Personal Loan?

Personal loans are a great option to get a large sum of money at a low interest rate in just a few days. What’s more, many lenders now provide a next-day personal loan and allow you to have funds deposited into your account within 24 hours of applying.

It is essential to understand that such loans are available to everyone, even borrowers with low FICO scores. That’s why if you need money urgently, you don’t have to pay instant transfer fees but find a lender who provides such a service.

How Next-Day Personal Loans Work

Next-day personal loans are no different from standard ones. However, it is worth noting that most often, they can be obtained from online lenders who provide unsecured loans.

To do this, complete a pre-qualification form and provide basic information about yourself. The lender will then show you the terms available, and you can choose the best loan option.

The next step is signing a loan agreement, after which lenders usually send money to your account immediately. For example, if you apply to a financial institution that provides next-day personal loans, you will receive your loan funds in as little as 24 hours.

Next-Day Personal Loan Requirements

Each lender has the right to set its requirements for borrowers, but we can still highlight a few of the most basic:

  • Credit Score

Lenders need this score to determine if you are a sound borrower quickly. It summarizes your entire credit history; the higher it is, the better your chances of getting a loan.

Credit scores range from 300 to 850. More often than not, financial institutions prefer to work with people with at least a 670 FICO score, but there are companies on the market lending money to people with no credit history.

  • Income level

Lenders want to know that your salary will be enough to make your monthly payments on time, so almost all of them set a minimum annual income threshold for all their clients. To have a better chance of being approved for an application, you should earn at least $20,000 a year.

  • Debt-to-income ratio

The Debt-to-income ratio shows how much of your income you spend to pay off all your debts. The higher it is, the less chance you have of getting a loan. Preferably, your DTI should not exceed 40%.

  • Availability of official employment

Usually, financial institutions only lend money to people who can prove a full-time job and regular income. However, you can also find companies that work with unemployed borrowers and accept, for example, social benefits or investments as income.

How to Apply For the Next-Day Personal Loan?

Before you apply for a loan, you should always calculate the amount you want to borrow and the monthly payment. Never lend money if you’re unsure you can pay it back on time, and don’t skip the calculation stage.

Once you have determined the amount you want to borrow, you can apply on the lender’s website to see what interest rates and terms are available to you. Usually, personal loan lenders do soft credit checks to determine if the borrower qualifies, so you will need to wait 3 minutes to an hour for the company to verify all information and give their response to the application.

If your application is approved, you can proceed to sign the contract. To do this, you must provide primary documents such as proof of income, address and official employment, ID, and Social Security Number. After signing the contract, the lender sends the funds to your bank account, and you can receive them the same or the next day.

Are Next-Day Personal Loans Safe?

They are safe if you take them from a reputable lender. To make sure you don’t fall into the hands of scammers, avoid financial institutions that:

  • They ask you to pay any fees upfront.
  • They call you on the phone and offer you a loan.
  • They have no physical address on their website.
  • Do not have a license to provide credit.
  • They promise you guaranteed approval before you apply for a loan.

Many lenders provide next-day personal loans. In addition, it is a legally regulated service, so it is safe in most cases.

How Much Next-Day Personal Loan Costs

It is essential to understand that such advances do not have a general cost. Instead, lenders determine what the terms of your loan will be after they see your credit history and other indicators that are important to them. For example, if your FICO score is good, you can most likely borrow money at 15% APR, but with a score of less than 670, you must pay 20% to 36% APR.

Accordingly, to calculate the price of the loan, you need to do the following steps:

  • First, determine how much APR you will repay over the life of the loan proceeds. For example, if you borrowed $10,000 for five years at 20%, you will pay back 100% of the APR, which is another $10,000.
  • Add to this amount all the additional fees. This is the total price – APR + any fees.

Pros and Cons of Next-Day Personal Loan

Such loans have the following advantages:

  • They allow you to get a relatively large amount of money at once.
  • Often, they do not require a deposit.
  • Personal loans are available to all categories of borrowers.
  • They allow you to plan your budget quickly and easily because they are paid in fixed monthly installments.
  • Getting money the next business day can save you in any emergency.
  • They allow you to build a credit history if you make all your monthly payments on time.
  • You can use them for almost any individual purpose.
  • They are cheaper than payday loans and have competitive rates.

Of all the disadvantages of this type of borrowing, one major one is the high origination fees of up to 10%. It is also essential to understand that because of their availability, they are often overused, and because of this, they lead to unwanted debt. Remember that borrowing should not be a long-term solution to your problems.

Alternatives to Next-Day Personal Loans

If you don’t want to go to a lender and go through the loan application approval process, you can use one of the alternatives described below:

  • Credit cards

If you have a good FICO score, you can apply for a credit card with the required limit. Sure, it may have a higher APR and not allow you to get $100,000 at a time, but you can only pay that APR in the months you carry a balance.

  • Paycheck advance

If you need a small amount of money before your paycheck, you can avoid borrowing it from lenders and borrowing it from your future. The U.S. financial market has long had financial institutions that give you access to your paycheck a few days early, thus avoiding borrowing.

  • Borrow from family or friends

Try not to use this method if you are unsure you can return all funds on time, as you risk losing relationships with loved ones. Also, this option is rarely suitable for receiving large sums of money, but it avoids paying APR and additional fees.


No, they are different because there are financial institutions on the market that are ready to provide you with funds on the same business day that your application was approved. Next day personal loan you can usually only get the next business day after that.

This is one of the most profitable types of borrowings, with a reasonably low APR of up to 36%. However, choosing a lender with low origination fees is crucial, as some financial institutions charge up to 10% of the amount borrowed.

Such advances make sense for those who want money urgently. For example, if your car breaks down, you need to pay a medical bill or a business trip, you can go to a lender and get the amount you need the next business day.

The application process usually takes at most 10 minutes. After that, you need to wait for a response from the financial institution, which can take 5 minutes to an hour, and sign the loan agreement (about another half hour). The last step is transferring funds to your account, which is usually the longest. If you get the next day personal loan, you will need to wait up to 24 hours, and you will have the loan funds.