Emergency Loan Rates 2026
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Common uses for a personal loan
Questions about personal loans††
Here are some common questions from our members.
What are emergency loans?
If you’re in a financial bind and need cash quickly, an emergency loan might be able to help you get the money you need. Emergency loans come in the form of personal loans, credit card cash advances, payday loans, pawn shop loans and title loans. Depending on which of these options you choose, you may be able to get the money immediately or within a business day or two of approval. If you don’t like the idea of a loan, you might be able to use a cash advance app instead to borrow small amounts of money in between paychecks.
How do emergency loans work?
With an emergency loan, you’ll have to pay interest on the money you borrow. You may also face expenses such as a loan origination fee, so it’s important to know the total cost of the loan before accepting the money. With a traditional personal loan, you’ll pay back the loan amount, plus interest and fees, over a set period of time — usually at least a year.
Other types of emergency loans work differently. Riskier emergency loans, such as payday loans or title loans, often come with triple-digit interest rates and high fees that could make repayment difficult and add to your debt. Title loans require your car title as collateral. If you fail to pay back your loan, the lender can take your car. These types of loans have much shorter terms than traditional personal loans — you generally need to pay them back within two to four weeks.
How do I get an emergency loan?
If you need cash quickly to cover an immediate emergency expense, you may be able to get a same-day personal loan from a bank, credit union or online lender. If you’re approved, you could receive the money in your bank account as early as the same day you apply, though when you can actually access those funds will depend on your bank.
Keep in mind that when you apply for an emergency loan, a lender may perform a hard inquiry to check your credit. A hard inquiry can cause a slight drop in your credit scores. If you’re shopping around for an emergency loan and applying with multiple lenders, be sure to submit your applications within a 14-day period to help minimize the impact on your credit scores. Some credit-scoring models consider multiple credit inquiries within a two-week time frame as just one inquiry.
If you’re struggling to get financing or prefer to avoid taking out a loan, you might also consider borrowing money from family and friends to help cover your emergency expense.
How do I get a loan without a credit check?
For people in a pinch who want to get a loan without a credit check, a cash advance app might be a good option. Typically these apps let you borrow against your own paycheck, give you the money immediately and don’t charge interest. But the advance amounts you can usually get with these apps may not be enough to cover your emergency — caps can range from $50 to $250.
Some personal loan lenders may be willing to look at more than just your credit scores when reviewing your application. Although some of these lenders might still check your credit, they may also consider other factors, including your income and employment history. Just keep in mind that interest rates can be high with these lenders.
Payday lenders are another option, as they generally don’t perform credit checks and the cash might be available to you immediately. But these types of loans, which can be risky and expensive, are often due as early as your next payday.
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Hear from our editors: Best emergency loans of 2026
Updated September 8, 2026
This date may not reflect recent changes in individual terms.
Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.
Written by: Melanie Lockert
Edited by: Erin Dunn, Managing Editor, Loans
If you don’t have enough in savings to cover an emergency expense, an emergency loan that gives you the money you need quickly may help.
We’ll discuss the different types of emergency loans that could be available to you, as well as some lenders to consider. We’ll also give you tips on how to navigate the borrowing process — and any other options you may have.
- Good for people with strong credit: LightStream
- Good for secured loan option: OneMain Financial
- Good for paycheck advance: Earnin
- Good for small loan amounts: Possible Finance
- Good for retail purchases: Affirm
- Good for checking your rate before you apply: Avant
- Good for adding a co-applicant: Happen Bank
- What is an emergency loan?
- 5 types of emergency loans
- When is an emergency loan a good idea?
- What are some alternatives to emergency loans?
Good for people with strong credit: LightStream
Why a LightStream personal loan stands out: A solid choice for people with strong credit, LightStream offers competitive interest rates along with a “rate beat” program that promises to beat a competing lender by a small percentage if you qualify for a lower rate elsewhere and meet certain conditions.
Pros
- Potentially same-day funding
- No loan origination or prepayment fees
- Rate discount for autopay
Cons
- No prequalification option
- May not consider those with little credit history
- Only accepts applications online
Read reviews of LightStream personal loans to learn more.
Good for secured loan option: OneMain Financial
Why a OneMain Financial personal loan stands out: To secure a loan, OneMain lets you use cars, trucks, motorcycles, boats, campers or RVs. The lender says all vehicles need to be appraised before loan approval. For larger loan amounts, the vehicle must be less than 10 years old. And remember, if you default on the loan, the lender can take your collateral.
Pros
- Offers secured and unsecured loans
- Co-applicants accepted
- Small loan amounts available
Cons
- Charges an origination fee
- APRs are on the higher side
Read reviews of OneMain Financial loan to learn more.
Good for paycheck advance: Earnin
Why Earnin stands out: EarnIn is an app that lets you to take small cash advances against your paycheck. Instead of charging mandatory fees, EarnIn suggests (but does not require) people leave a tip.
Pros
- No interest or fees
- Low balance alerts
- Early paycheck access
Cons
- Eligibility is limited to those using direct deposit
- Withdrawal limits
- Certain types of income are not eligible
Read our review of Earnin to learn more.
Good for small loan amounts: Possible Finance
Why a Possible Finance personal loan stands out: Possible Finance is an online lender that provides small installment loans up to $500. Because of the lender’s high interest rates and short repayment terms, it’s important to carefully consider a Possible Finance loan before accepting it.
Pros
- Only small loan amounts available
- Opportunity to build your credit
- No penalty or late fees
Cons
- High APRs
- Not available in many states
- Short repayment terms
Read reviews of Possible Finance personal loans to learn more.
Good for retail purchases: Affirm
Why an Affirm personal loan stands out: Affirm partners with thousands of online retailers and stores to offer personal loans for purchases. Interest rates can start as low as 0% APR, but the actual rate you pay may be significantly higher depending on the merchant and your credit.
Pros
- Some retailers offer 0% APR
- No late, prepayment or annual fees
- Fixed payments available
Cons
- No refunds for interest paid on returned items
- Interest rates may be higher than credit card rates, depending on your credit
- Down payment may be required
Read reviews of Affirm loans to learn more.
Good for checking your rate before you apply: Avant
Why an Avant personal loan stands out: Avant allows you to prequalify without affecting your credit scores. That means you can check rates for the lender’s unsecured and secured personal loans with a soft credit inquiry, which won’t affect your credit. But keep in mind that if you move forward with your application, Avant says it will perform a hard inquiry, which could lower your credit scores by a few points. And your final loan term and rates may change after you officially apply.
Pros
- Ability to qualify with fair credit
- Possible fast funding
Cons
- High maximum interest rates
- Administrative fee
Read reviews of Avant personal loans to learn more.
Good for adding a co-applicant: Happen Bank
Why a Happen Bank personal loan stands out: If you want to apply with someone else, Happen Bank (formerly known as LendingClub) allows co-borrowers on your loan application. Adding a co-borrower with good credit might help you qualify for a lower interest rate.
Pros
- Personal loan amounts up to $60,000
- You can apply for prequalification
- Option to have Happen Bank pay your creditors directly
Cons
- Origination fee of up to 8%
- Maximum APR can be on the higher side
Read reviews of Happen Bank personal loans to learn more.
What is an emergency loan?
An emergency loan is a type of personal loan designed to quickly provide funds for unexpected expenses. This type of loan can be a lifesaver if you’re facing urgent financial needs and don’t have enough savings to cover the costs.
Emergency loans can come in various forms, including unsecured personal loans, credit card cash advances, payday loans, or even pawn shop loans.
Emergency loan funds can be deposited directly into your bank account — often within a business day or two of approval, depending on the lender and the details of the loan application.
To fully understand your options, make sure to do your research beforehand and read any fine print throughout the process.
5 types of emergency loans
If you need a loan in an emergency, there are several options to consider. But what type of loan you qualify for can largely depend on your credit.
Personal loans
With good credit, you may be able to qualify for an unsecured personal loan, which can be used for emergency situations. Personal loans are typically installment loans given out in a lump sum with a fixed interest rate. They often come with lower interest rates than credit cards and can be repaid over a set period of time.
You don’t need to borrow a large amount, either. If you need a smaller sum, a personal loan can help. For example, you could get a personal loan of $1,000 to help you out. Just remember to borrow only what you absolutely need and can comfortably afford to repay. In tough times, “comfortably” may be a stretch, so aim to borrow as little as necessary.
Credit card cash advance
A cash advance allows you to borrow money against your credit card’s available balance. Credit card companies usually charge a higher interest rate for cash advances compared to regular purchases, along with a processing fee. And keep in mind that interest begins accruing immediately when you take out the advance, so be mindful of how much you borrow.
Payday loans
A payday loan is a short-term loan that typically must be repaid by your next payday. Unlike a personal loan, which is typically paid back in installments, payday loans are paid back all at once.
But be aware: Payday loans can have costs that amount to APRs as high as 400%, according to the Consumer Financial Protection Bureau.
The problem with payday loans is that they can lead to a debt trap. Many borrowers may struggle to pay back the loan — and are then stuck in a cycle where they continue to borrow in order to pay off debt. The CFPB reports that four out of five payday loans are “re-borrowed” within a month — often around the time when the loan is due — so you should only turn to this option as a last resort.
Pawn shop loans
For a pawn shop loan, you typically have to use an item of value to secure the loan. A pawn shop will assess the value of the item and keep it on hand as collateral to back the loan.
If you’re unable to pay back the loan, the pawn shop can sell your item. Because a pawn loan doesn’t involve a credit check or application process, it could be good for those with few traditional credit options.
Title loans
Another option is a title loan. If you’re a car owner, you can use your car’s title as leverage to access a short-term loan. This might seem like an attractive option since there typically isn’t a credit check involved. But there’s a chance your car can be seized if you aren’t able to repay the loan, so this option should be carefully considered.
When is an emergency loan a good idea?
If you need access to cash for an unexpected expense, an emergency loan can be a convenient source of funding. This type of short-term loan can provide quick relief when you don’t have enough cash on hand to cover emergencies like medical care or home repairs.
But an emergency loan should be considered a last resort. Some lenders’ personal loan origination fees and high interest rates can make this an expensive option. It’s best to avoid this type of loan unless you’re facing a true emergency.
Pros
- Fast funding: Emergency loans can typically be approved quickly, with funds often available the next business day — or even the same day in some cases.
- Fixed interest rate: With fixed-rate financing, your loan’s interest rate remains constant, so you’ll know your exact monthly payments and total loan cost from the start.
- Availability: You may be able to qualify for a loan even if your credit isn’t perfect.
Cons
- Fees: Emergency loans may come with an origination fee, which lenders typically deduct from the loan amount.
- Potentially high interest rates: Emergency loans usually come with interest rates ranging from about 6% to 36%.
How can I get a quick loan?
If you have an emergency expense, you’ll want a quick loan that gives you access to cash fast. Keep in mind the most affordable loans with low interest are usually available to people with good credit and stable income.
But even with poor credit, you may have some options. Before you apply for a quick loan, take these steps …
- Calculate your budget — Determine how much you comfortably can afford to pay each month since late payments can hurt your credit.
- Compare rates and terms — The less you pay in interest, the more affordable your loan will be. Try to prequalify for more than one option to check your potential rate. Remember that your rate still may change when you officially apply.
- Check fees — Quick loans may charge extra fees to have your funds deposited faster into your bank account. The lender also may charge an origination fee that could add to your costs. Make sure to compare fees for the quick loan options you’re considering.
- Make a repayment plan — Setting up automatic payments can help ensure you don’t miss a payment. And once your finances are on solid footing, start saving for an emergency fund to help the next time an emergency expense occurs.
What are some alternatives to emergency loans?
Before rushing to take out an emergency loan, you may want to consider some alternative options.
Low-interest credit cards: If you have good credit, consider a low-interest credit card with a 0% intro APR on purchases for a set period. This can act as a short-term loan, allowing you to pay off expenses within the promotional period without accruing interest. Be aware that applying for a new card will result in a hard inquiry, which can affect your credit scores. And be sure you can pay off the balance before the intro APR period ends to avoid interest charges.
Medical bill repayment plans: If you need help paying medical bills, discuss repayment options with the hospital. Many providers offer payment plans and financial assistance programs, especially for under-insured or low-income families. Each hospital may have different programs, so contact them to see if you qualify.
Home equity line of credit: Homeowners can consider a HELOC, which uses your home as collateral for a loan. It’s important to understand the repayment terms, as you may need to repay the loan immediately after the draw period or within a set timeframe. Make sure you’re aware of all the details before proceeding.
Ask for a repayment plan: Instead of taking out a loan, try negotiating a payment plan or extended payment period for an existing bill. Creditors might offer a low-interest loan or reduce the amount you owe. It’s wise to discuss options with your current creditors before considering other loan alternatives.
Explore charitable financial assistance grants: Depending on your situation, you may qualify for an emergency assistance grant or loan. Some states and cities offer hardship grants to residents. For example, residents of Dane County, Wisconsin, can apply for emergency assistance grants if their family is facing eviction or foreclosure. Check with your state or local area to see what hardship grants may be available.
Ask your employer for a loan or advance: If you’re employed, your employer may be able to help you to bridge a short-term financial difficulty. Before you pursue an emergency loan, check with your employer to see if it can offer a loan or an advance on your next paycheck.
And if you’re a full-time or part-time federal employee, you may be eligible to receive a no-interest hardship loan of up to $1,200 through the Federal Employee Education and Assistance fund.
Our methodology: How we pick the best personal loans
Credit Karma’s editors evaluate the best personal loans by reviewing key features of dozens of popular lenders. Those features fall into three important categories:
- Affordability: We start by checking if a lender’s rates are competitive: are they higher than average or are they lower than many competitors? From there, we analyze if fees — particularly an origination fee — may make your loan more unaffordable. Last, we’ll check if the lender offers rate discounts for items such as automatic payments that may reduce your rate.
- Customer-friendly features: Taking out a personal loan is a big financial commitment, so we prioritize lenders that make things easier for you. For instance, do they offer a wide range of loan amounts for people with different borrowing needs? Do they offer at least several loan terms to give you more flexibility with your monthly payment? And, crucially, can they fund your loan quickly? A lender will also get bonus points for offering direct payments for debt consolidation or other customer-friendly features.
- Transparency: We believe personal loan terms should be easy to find and decipher. Prequalification, which lets you check what rate you may qualify for without a hard credit inquiry, is particularly important. We also check to see if a lender has been recently penalized by regulators.
Estimate personal loan costs
To better understand the total cost of any personal loans you’re considering, use an online calculator like Credit Karma’s simple loan calculator. A loan calculator can help you estimate your monthly payment and how much you’d pay in interest versus principal over the length of the loan.
*Annual Percentage Rates, terms of loan and monthly payments presented are estimated based upon analysis of information you entered, your credit profile and/or available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender's range might be 5% to 36%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. When evaluating offers, please review the lender's Terms and Conditions for additional details. The loan amount shown here may include possible origination fees charged by the lender. If the lender charges an origination fee, it may be deducted from your loan amount. Consider adjusting your loan amount to account for this. This estimate does not include any optional or add-on products you may be offered by the lender.,Advertiser Disclosure: Offers that appear on this site are from third party advertisers from which Credit Karma typically receives compensation. Except for mortgage loan offers, this compensation is one of several factors that may impact how and where offers appear on Credit Karma (including, for example, the order in which they appear). Other factors may include: your credit profile and what products we think you want. It is this compensation that enables Credit Karma to provide you with services like free access to your credit scores and free monitoring of your credit and financial accounts. Credit Karma strives to provide a wide array of offers for our members, but our offers do not represent all financial services, companies, or products.
††The opinions you read here come from our editorial team. Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted.