Lenders including the AA, Intelligent Finance, Natwest and Smile all promise applicants an online decision, often emailed direct to them within minutes.

But although the opportunity to apply for one in three personal loans online improves convenience for rushed customers, it could mean they omit vital stages in the process and damage their chances of getting a loan.

In the last six months, around 1.39 million loan applications have been rejected – a tally which MoneyExpert.com links to borrowers’ readiness to apply for a loan before checking their credit status or speaking to an advisor.

“Providers are keen to point out that they can offer you credit quickly,” observed Sean Gardner from the comparison website, but less haste could improve customers’ chances of having their application accepted, he stressed.

Moreover, if they do have their over-rapid requests rejected, this could impair customers’ credit record, which may show any rejected past applications, he said.

Nevertheless, rising numbers of rejections should also be linked to tightening lenders’ criteria after last year’s revelations of record indebtedness in Britain.

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