Grace Enfield, Content Writer
@grace_enfield
Yes, some banks may offer emergency loans, providing approval as soon as the same day you apply and funding as quickly as one business day after approval. In other cases, banks may take up to a few business days to approve you for a personal loan, which may be too long of a waiting period for you.
The best emergency loans from a bank are from Wells Fargo. The bank offers loans of $3,000 - $100,000, APRs of 7.24% - 24.74%, approval as soon as the same day you apply and funding as soon as the next business day. You’ll need a credit score of 660+ to qualify.
Best Emergency Loans from Banks
| Bank | Funding As Soon As | Loan Amounts | APRs |
| 1 business day after approval | $3,000 - $100,000 | 7.24% - 24.74% | |
| 1 business day after approval | $2,500 - $40,000 | 7.99% - 24.99% | |
| As soon as the same business day for most customers when deposited directly to a Citi® bank account or within 2 business days when deposited directly to a non-Citi® bank account | $2,000 - $30,000 | 9.99% - 19.49%** | |
| 1 business day after approval | $2,000 - $50,000 | 8.99% - 23.99% | |
| 1 business day after approval | $2,500 - $100,000 | 10.34% - 18.51% | |
| 1 business day after approval | $1,000 - $35,000 | 8.14% - 24.99% |
For more information, check out WalletHub’s complete picks for the best personal loans from banks.
Other Ways to Borrow Money Quickly from Banks
If you have a qualifying Bank of America checking account, you may be able to get a Balance Assist™ loan of up to $500 for a $5 flat fee. This program offers funding minutes after approval, and the loan must be repaid monthly over 90 days.
Similarly, you may want to consider My Chase Loan if you have a Chase credit card. My Chase Loan is not a cash advance, but it lets you borrow at least $500 from your credit line and deposit the money directly into your bank account. It also has no fees and a lower APR than your regular purchase APR. You can receive the money within 1 - 2 business days and choose how long you want to take to repay it.
You may also be able to use an existing bank credit card or take out a cash advance to access emergency funds. Keep in mind, getting a new credit card may take 7 - 10 business days after approval. To see the top-ranked offers, check out WalletHub’s picks for the best credit cards.
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