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triple-digit interest rates, meaning they should only be used as a last resort.The easiest personal loans to get offer less-restrictive qualification requirements, instant approvals and fast funding — some as soon as the same day. That’s what makes emergency personal loans, bad credit loans, no-credit-check loans and payday loans a popular choice in a time of need.But borrower, beware. These easy loans often come with rates that are much higher than average personal loan interest rates and unfavorable terms. This is especially true of no-credit-check and payday loans, which should be avoided whenever possible.If used carefully, alternative loans can help meet urgent financial needs in tough situations. They can also be the easiest loans to get, especially when you have trouble qualifying for traditional loans. But it’s important to consider the long-term financial risks, like rapid, high-interest debt accrual or significant credit damage. Knowing the risks before you sign can empower you to make the right decision for your current and future finances.Know your credit scoreIf you don’t have a good credit score (at least 670) and a solid income, your loan may come with high rates and fees. Look for a loan with an interest rate below 36%.An emergency loan helps you cover unexpected expenses, such as medical bills or car repair costs. A personal loans can be a type of emergency loan that is considered safer than high-interest payday loans and risky title loans. These loans typically range from $1,000 to $50,000 and the lender may deposit funds the same day you’re approved. Emergency loan rates from online lenders may reach 35.99%, but payday loans can have rates up to 600% or higher.LenderAPR rangeLoan amountsFunding timelineMinimum credit scoreRocket Loans8.01%-29.99%$2,000–$45,000As soon as the same dayNot SpecifiedLightStream6.49%-24.89% (with autopay)$5,000–$100,000As soon as the same day660LendingPoint7.99%-35.99%$1,000–$36,500As soon as the next business day600A bad credit loan is a personal loan for borrowers with less-than-stellar credit or minimal credit history. Although bad credit loan requirements vary by lender, you’ll typically need a credit score above 500. Since they’re riskier loans, you may not qualify for the loan amount you need or get the longest repayment term. 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