Twenty minutes is the limit for 50% of customers when applying for finance online, according to research by credit reference agency Equifax.
The survey, conducted by polling company YouGov found that immediate decisions were expected by 34% of those applying for short term loans, 25% for credit card applications, and 18% for bank loans.
This was also true of longer term financial commitments, with 37% expecting a decision on their mortgage within a day.
Equifax said this was linked to the rise in mobile technology, allowing people to manage their finances remotely. It claimed that 81% of people managed their bank account online or through apps.
A plurality, 35%, of those surveyed preferred to submit copies of supporting documents for applications electronically.
Jake Ranson, banking and financial institutions director at Equifax UK, said: “The reluctance for half of the population to spend more than 20 minutes filling in an online form, combined with the growing demand for a prompt response, shows companies need to invest in their application processes to improve the customer experience."