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What Is The Easiest Loan To Get?

Miranda Crace6 minute read
UPDATED: July 26, 2023


The word “easy” doesn’t always come to mind when thinking about getting a loan. Seasoned borrowers may recall a past search for the right lender, gathering paperwork and financial documents, and hoping their credit score could net them decent interest rates. Some borrowers may want to skip the traditional process altogether in favor of an easier approval.To help simplify matters, let’s take a look at the easiest loans to get, where to get them and what makes them easier than other financing options.

What Makes For The Easiest Loan Approval?

The biggest issue many borrowers face when seeking a loan is time. Depending on the type of loan you need and how quickly you need it, some lenders may not be able to deliver it fast enough. The easiest loans will typically promise fast or immediate disbursal of your funds, however.

Convenience is also key for you if you’re looking for an easy time getting a loan. With options to apply for a loan online, you can complete the whole process from the comfort of your home.

A bigger roadblock than convenience for many borrowers is credit score. Numerous loans require credit checks, and if your score isn’t high enough, you could face a high interest rate for your loan – if you’re approved at all. Some of the easiest loans to get skip the credit check entirely, leaving your approval up to collateral or other factors.

What Is The Easiest Loan To Get With Bad Credit?

If your credit report isn’t what it needs to be for most loan options, you can get any of the following loans without a credit check. These same-day loans can also deliver your money the day you apply.

Payday Loans

Quick take:

400% APR

Highest rates and risky terms


Same day

A payday loan is a short-term loan meant to be repaid when the borrower receives their next paycheck from their employer – hence the “payday” in the name. You can find payday loans online through private lenders or at physical branches. Requirements typically only call for you to have an active bank or credit union account, show personal identification and proof of income, and be at least 18 years old.

Payday lenders often forego credit checks, which may attract borrowers with poor credit, but their fees and APR (annual percentage rate) can add up to an expensive ordeal. Lending fees are typically $10 – $30 for every $100 borrowed, and APRs can be nearly 400%. Rolling the loan over also incurs another lending fee charge.

So while a payday loan is an easy loan to qualify for, the financial risks involved may make another option more attractive.

Auto Title Loans

Quick take:

25% APR

Short-term loan

Risk losing your vehicle


Same day

Title loans operate much the same as payday loans, but with one catch: The lender requires you offer your vehicle’s title up as collateral in what’s called a secured loan.

The repayment period for an auto title loan is typically 15 – 30 days. This type of loan can include rollover options, but with financing fees of around 25%. With the short turnaround time and high fees, plus the risk of losing your vehicle, title loans can be a dangerous loan to take on.

Pawn Shop Loans

Quick take:

200% APR

Risk losing valuable collateral


Same day

Pawn shop lenders will also forego a credit check in exchange for a loan, if you can offer a valuable item as collateral. Loan terms such as interest rates can vary between pawnbrokers, but the APR on pawn shop loans is generally around 200%. As with a title loan, you also stand to lose your collateral if you default on the loan.

Often, the easiest pathway to a loan isn’t the best way. If your credit is holding you back from better loan options, it’s best to take steps to improve your credit score.

Alternatives To Getting An Easy Loan

The loans discussed above are some of the easiest to get approved for, but they carry risks that some other financing options don’t. If you want to avoid the pitfalls of these “easy” loans, consider some of the following options.

Apply For A Personal Loan

Quick take:

Average 10% APR

Great rates and terms

Credit check required


1 – 7 business days

A personal loan is relatively easy to get, but it does involve credit checks. Because personal loans are unsecured loans that don’t require risking any collateral, your interest rate and APR will largely depend on your credit score – a score of 650 or higher can qualify for good rates and terms. Personal loans are a type of installment loan, meaning repayment happens through monthly payments over the life of the loan.

The personal loan application process is straightforward and doable entirely online through various lenders or lending platforms. Borrowers should strongly consider getting prequalified to help make sure they can land the loan amount, rates and terms they want.

Once a full application is submitted, approval and the disbursal of funds should happen in 1 – 7 business days. Some lenders and lending platforms, like Rocket Loans℠, can offer same-day funding to certain borrowers.*

Under the right circumstances, getting a personal loan can be a fast, easy and safe option for borrowers in need of cash.

Get A Credit Card Cash Advance

Quick take:

Costs 3% – 5% of the total

loan amount



If you have a credit card, a cash advance can get you immediate funds right from an ATM. Cash advances borrow against your credit line and add the loan amount to your balance. There’s no credit check required, as being a cardholder is enough to qualify you with your card issuer or bank.

Cash advances come with service fees and charges, typically 3% – 5% of the loan amount, and higher APRs than a regular credit card purchase. Additionally, there’s no grace period before interest starts accruing on your advance.

Have A Co-Signer

Quick take:

Better chance for loan approval and better rates with a co-signer


Personal discussions,

1 – 7 business days

If your credit is too low for a personal loan, consider having a co-signer on your application. If the person co-signing your loan has good credit, a lender may grant you a better interest rate based on their creditworthiness.

Another option is to have a co-borrower on a joint loan.

Use Your Emergency Fund

Quick take:

Use savings and lose savings




Building an emergency fund is an excellent way to always have cash on hand in case of an emergency. Since it’s money that’s already yours, there’s no credit check, application or approval process, and you certainly won’t need to worry about interest rates or APR. Building a fund takes time, though, so you’ll want to start saving early enough to have adequate resources in an emergency situation.

FAQs About Easy Loan Approval

What is the easiest loan to get approved for?

Payday and pawn shop loans can be the easiest to get approved for, but their repayment processes can turn into nightmares. Borrowers with lower credit can still get approved for personal loans, but their loans may come with higher rates.

What is the fastest and easiest way to get a loan?

For the fastest and easiest loans, apply online through a lender or lending platform that offers loans with fast approval and funding. Always research and compare lending options, and do your best to avoid predatory lenders.

What is the easiest loan to get online?

Personal, payday and most other types of loans are available through online lenders. Choose the loan type easiest for your circumstances, and you’re likely to find an online provider.

Final Thoughts

The right financing can be a challenge to find, but some options are easier to find than others. Bad credit loans often don’t require credit checks, but their risks in fees and interest rates can outweigh their benefit. If you have good credit, a personal loan can also be an easy option. In the end, the simplest option for you depends on your situation and what you’re comfortable with.

Wondering what rates and terms you can get with a personal loan? Apply online today with Rocket Loans.

*Same day funding is available for clients completing the loan process and signing the Promissory Note by 1:00 p.m. ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary, and your bank may have rules that limit our ability to credit your account. We are not responsible for delays that may occur due to an incorrect routing number, an incorrect account number or errors of your financial institution.

Getting a personal loan has never been easier.

The Rocket LoansSM application process makes borrowing simple.

Miranda Crace

Miranda Crace is a Senior Section Editor for the Rocket Companies, bringing a wealth of knowledge about mortgages, personal finance, real estate, and personal loans for over 10 years.