You can get a money loan instantly by applying for a personal loan, payday loan, or car title loan. Many online lenders, banks, and federal credit unions offer same day funding with these fast cash loans.
Only about 1.7% of the U.S. population has a perfect 850 credit score.¹ But, the minimum credit score requirement for instant loans is generally low. This means bad credit borrowers could qualify to borrow money without excellent credit!
If you’re currently in need of quick cash loans, read about your options below.
Loan Options for Unexpected Expenses
These same day funding options are typically designed for borrowers with lower-than-average credit scores that need money fast:
Personal Installment Loan
A personal loan is an unsecured loan from a bank, credit union, or online lender. You’ll be approved for low or high loan amounts based on your borrowing history and your income in most situations. This is generally considered to be a good alternative to other fast cash options, such as payday loans or auto title loans. Typically, you can get several hundred dollars up to several thousand dollars in some cases. You’ll likely have between a few months and even a couple of years to repay it, depending on the specific lender and your financial situation.
Payday Loan
Payday loans are short-term, small-dollar options for fast cash with easy loan approval. Payday loan lenders do not require collateral. These loans are usually for smaller amounts, such as a few hundred dollars in most cases. Generally, borrowers have to return the principal and interest within two weeks or by their next payday. The high interest rates coupled with the short repayment period make these bad credit loans tough to repay on time.
Car Title Loan
Car title loans are secured loans, which means you will have to offer up collateral. The collateral for a car title loan is the title to your car, truck, SUV, motorcycle, or another vehicle. This means that if you don’t repay your loan the lender can take your vehicle and sell it to recover their money. As you can see, this is a risky option if you rely on your vehicle for everyday use. These types of emergency personal loans may allow you to get a decent amount of cash, but they’re usually due back in 15-30 days which makes them very difficult to pay off on time.
CreditNinja: Personal Loans for Instant Bank Account Funds
CreditNinja offers fast personal loans through a streamlined loan process. If you are looking for loans like Rocket Loans, consider a CreditNinja installment loan. Apply today and if eligible, you could get money in your bank account quickly!
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