Unlike payday loans, credit cards and other emergency funding sources, personal loans often come with lower interest rates—especially for applicants with good to excellent credit. Plus, many lenders offer same- or next-day funding so you can get the cash you need, when you need it.

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The best personal loans for emergencies offer fast and convenient applications and approvals, accessible lending standards and quick funding.

• planbloan.com - Convenient monthly payment solution
• yourpayday.com - Best payday loans for poor credit scores
• fundsjoy.com - Fast payday loans for bad credit
• usanewloan.com - Easy payday loans for bad credit

Tips for Comparing Emergency Loans

#Personal loans often are available through traditional banks, credit unions and online lending platforms so you can apply quickly and conveniently, without having to visit a bank branch. Many of these lenders also offer competitive interest rates and flexible repayment terms, meaning you won’t have to sacrifice cost for speed.

Consider these tips when comparing personal loans:

Where possible, prequalify. Many personal loan providers offer prospective borrowers the ability to prequalify for a loan. This means the applicant can submit details about their financing needs, income, housing situation and other relevant information to find out what kind of loan amounts, rates and repayment terms they are likely to qualify for. Even better, this process typically only requires a soft #credit inquiry so you can shop around without hurting your credit score. If you need to access loan funds quickly, the prequalification process can save you time by ruling out lenders with more stringent requirements.

Consider the purpose of your loan. While personal loans can be used for a broad range of purposes, they are limited to things like consumer debt consolidation, home improvements, vacations, weddings, funerals, large purchases and other personal expenses. For that reason, lenders often restrict the use of personal loans for postsecondary education expenses, business purposes and illegal activities, at a minimum. When considering a lender, confirm that your intended use is permissible under its borrower agreement—especially if you’re on a tight timeline and need money fast.

Keep an eye out for additional fees. Some lenders offer fee-free personal loans that don’t require #borrowers to pay origination fees, late payment fees, prepayment penalties or other common loan costs. However, this is more the exception than the rule, so it’s important to ask about fees when shopping for the best loan terms. Keep in mind that you may end up paying more in fees to qualify for a lender with fast funding. If a lender charges an origination fee, find out whether it’s built into the APR or taken out of the loan amount prior to funding, as this may impact the loan amount you need to request.

Evaluate the lender’s customer support options. If you’ve found a lender that’s prepared to quickly offer the money you need at acceptable terms, there’s one more thing to consider before signing the #loan agreement. While customer support may not seem like a big deal in the honeymoon phase of your loan, it can make a huge difference if you encounter issues with payments or face a financial hardship during your repayment period. Review the lender’s customer service resources and read reviews from past and current borrowers to make sure it’s a good fit.