Last Updated: 10/01/2025
SuperMoney User Recommendation Score +77
Strongly recommended326 total votes
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Highlights
Community Rating
Strongly recommended
APR (Fixed APR)
7.74% - 35.99%(Verified 10/01/2025)
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Amount Range
$1,000 - $50,000
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Loan Term (Months)
24 - 84
Number of Reviews
Upgrade Personal Loans Review
Upgrade Personal Loans is offered by Upgrade Inc, a nonbank financial services provider founded in 2016 and based in San Francisco, CA. Upgrade loans are available in 50 states and Washington, DC.
Key Takeaways
- APRs starting at 7.74%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Upgrade Personal Loans are on the lower end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Large loan amounts. You can apply for loan amounts of up to $50,000 with Upgrade Personal Loans .
- Prequalified rate. You can check your prequalified rate at Upgrade Inc with a soft pull that will not affect your FICO or VantageScore.
- Origination fees of 1.85% to 9.99%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
- Super long loan terms. Upgrade Personal Loans offers loan terms of up to 84 months. Most personal loans have a maximum term of 60 months.
Upgrade loans Pros & Cons
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Upgrade loans FAQ
What interest rates and personal loan terms does Upgrade loans offer?
Upgrade loans has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Upgrade loans offer?
Upgrade loans offers a fixed APR personal loan product that ranges from 7.74% APR up to 35.99% APR.
How much can you borrow via Upgrade loans?
Personal loan amounts start at $1,000 and go up to $50,000
What is the maximum loan term you can get with Upgrade loans?
Upgrade loans offers loans with terms of up to 84 months.
| Personal Loan Amount | $1000 - $50000 |
| Loan Term | 24 - 84 months |
| APR | 7.74% - 35.99% |
What fees does Upgrade loans charge?
Does Upgrade loans charge an origination fee?
Upgrade loans may charge a personal loan origination fee of 1.85% to 9.99% of the personal loan amount . Upgrade loans deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.
Does Upgrade loans charge a late fee?
Yes, Upgrade loans may charge a late payment fee if you miss one of the regularly scheduled payments of up to $10.
Does Upgrade loans charge prepayment fees?
No, Upgrade loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | 1.85% - 9.99% |
| Prepayment Fee | No |
| Late Payment Fee | $10 |
What do you need to qualify for Upgrade Personal Loans?
Applicants with a credit score of at least 600 and up to 850 may be eligible for Upgrade Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Upgrade Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Upgrade Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Recent pay stubs
- Proof of income
- Driver's license or other government photo ID
- Proof of identity
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 600 - 850 |
What is the estimated funding time for a personal loan via Upgrade loans?
Upgrade loans will typically fund loans within 1 business day of approval and clearing necessary verifications.
Does Upgrade Personal Loans report your account activity to credit bureaus?
Yes, Upgrade Personal Loans reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Upgrade Inc perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Upgrade loans allows you to check your rates with a soft credit pull.
Are Upgrade Personal Loans legit?
Upgrade Inc was founded in 2016, it is a well-established company that has been in business for 10 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Upgrade Personal Loans Disclosure: Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99% and a 1.85%-9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For certain discounts, collateral may be required. Repayment terms from 24 to 84 months. For example, if you receive a $10,000 unsecured loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR and other terms of your loan may vary and you may not be presented with multiple offers. If offered, your loan terms, including your rate, will depend on credit score, credit usage history, loan amount, and other factors. Late payments or other fees, as noted in your Borrower Agreement, may increase the cost of your fixed rate loan. Certain loan offers may not be available in all states.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Upgrade loans
Message from our editor
What we love about the Upgrade personal loan
Upgrade loans stand out because of their consumer-friendly features, such as credit monitoring tools, low minimum credit score requirements, and competitive interest rate offers.
Upgrade's personal loans are designed to appeal to borrowers with a wide range of incomes and credit scores. Interest rates and fees are competitive when compared to similar lenders. What sets Upgrade apart from the competition is that it offers interest rate discounts to borrowers who agree to send funds directly to creditors when applying for a debt consolidation loan. It is also one of the few lenders that provide joint, co-signed, and secured loans.
The loans have comparable rates and fees to other online lenders targeting similar audiences. Still, Upgrade differentiates itself with features like rate discounts for setting up auto payments or having payments sent directly to creditors on debt consolidation loans. Upgrade is also one of few lenders to offer joint, secured, and co-signed personal loans.
Personal loans or credit cards with cash rewards
Upgrade has two lending products: personal loans and credit cards. Both provide attractive features and tools, but one may serve you better depending on your circumstances. Upgrade's credit card is a great way to borrow money at a reasonable rate and build your credit score.
Responsible underwriting policies
This lender looks at more than your credit score and debt-to-income ratio when reviewing a loan application. While debt-to-income ratio and credit scores are important, a spokesperson says, they don’t account for rent payments and other monthly expenses that can factor into your ability to repay a loan.
Finally, we love that it offers a hardship program for borrowers who experience financial hardship. If you have an Upgrade loan and you lose your job, for example, you could qualify for a temporary reduction of your monthly payment or even a loan modification that extends the term of your loan.
What could Upgrade loans do better?
An Upgrade loan is a great deal if you have good credit and qualify for low interest rates and origination fees. Not so much if you have poor credit and you only qualify for high interest rates and expensive origination fees.
For all its flexibility, Upgrade only offers limited repayment terms. This means you have fewer options if you would prefer a longer or shorter repayment plan. This shouldn't be a dealbreaker for borrowers since you can repay a loan early without worrying about a penalty fee.
Another issue to consider with Upgrade is the high origination fees. Charging an origination fee is common among personal loans, but Upgrade can be more expensive than most if your credit is not great.
Upgrade's backstory
Upgrade's founders are Renaud LaPlanche and Soul Htite. Sound familiar? If you've taken out a loan in the past several years, they should. That's because LaPlanche and Htite were both co-founders of LendingClub, America's largest loan marketplace.
LendingClub arranged over 28 billion dollars in loans to over 1.5 million customers. Htite also founded one of China's largest marketplace lending platforms, Dianrong.
In other words, both founders have a lot of experience and a good track record in the online lending business.
But unlike their previous ventures, Upgrade loans is not a marketplace that connects borrowers to lenders. It's a direct lender in partnership with Cross River Bank.
Upgrade's loan application process
- Go to Upgrade's home page. Enter the desired loan amount and the reason you want to borrow. Then, click "Check your Rate."
- Provide some basic information about yourself.
- Create your account with your email address, review the documents, and provide your electronic signature to agree. Then, click "Check my rates."
After these steps, Upgrade will provide the rates for which you qualify, or you will receive a message notifying you that your application has been denied.
If you are denied, you will receive an adverse action notice explaining why. If you are approved and want to go ahead with the offer, you will select it.
You will then need to provide additional information, officially agree to the terms, allow a hard credit inquiry on your credit report, and provide your bank account information.
The Verdict
If you have fair to good credit, Upgrade loans may be the best option available. However, Upgrade personal loans may not provide the best option for borrowers with bad credit or excellent credit. If you have bad credit, you could be hit with rates of up to 35.99%. But if you have excellent credit, you may be able to find better deals with other lenders.
Upgrade has competitive APRs and a fast and easy application process. Their credit history monitoring tools provide a convenient complement to an intuitive application process. Their commitment to educating and improving the credit scores of rejected applicants is admirable. Having the option of applying for a credit card with the same company is also a bonus. The customizable loan features and discount opportunities make Upgrade a good option for borrowers with less than perfect credit who have a strong monthly cash flow and are looking for a good APR.
The only concern is that the origination fee can be expensive. If you can live with the origination fee and can afford the monthly payments, Upgrade is definitely worth considering. This lender provides a wide range of loan amounts and competitive rates -- even if you have less than perfect credit.
Hours of Operation
Sunday
6:00AM - 5:00PM
Monday
5:00AM - 7:00PM
Tuesday
5:00AM - 7:00PM
Wednesday
5:00AM - 7:00PM
Thursday
5:00AM - 7:00PM
Friday
5:00AM - 7:00PM
Saturday
6:00AM - 5:00PM