Hey, I know this answer is probably too late, but for anyone looking for an answer, here are my experiences.
I dropped my galaxy note 5 into water for no more than 3 seconds. For a few minutes after dropping it in the water, it seemed to work just fine. Then the screen starting glitching and flickering, and then the screen went black, the on/off button did not work, and the only thing that gave me hope that it was still on was by pressing the home button, which would light up the back button and the split screen button/switch app button, whatever it is called.
I read somewhere online that dry oats works better than rice. My fiancee advised to heat the oats to help dry the phone faster. I did what she and the internet advised and left the phone in the oatmeal for, I kid you not, 2 HOURS. Not 24 or 36 with rice, but 2 hours. Every now and then she or I would check it, each time we pulled it out, it would improve some. The screen status went from black to some sad shade of green to partially flickering for a moment or two, to flickering for a bit longer, and so on. Eventually the screen stayed on fully. After one more go with turning the screen on and off again, the screen lit up like nothing ever happened.
TL;DR: Put the phone in heated (not too hot) dry oats. Check it occasionally. As long as you don't have -severe- water damage (Like, leaving the phone in water for 10 seconds, or if the phone is either not turning on or the screen is not responsive) it should work within a few hours if less.