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| Community Rating | Strongly not recommended |
| APR (Fixed APR) | 6.53% - 35.99% |
| Loan Amount | $1,000 - $50,000 |
| Loan Term (Months) | 36 - 60 months |
| Number of Reviews | 48 |
Upstart Personal Loans Review
Upstart Personal Loans is offered by Upstart, a marketplace lending platform founded in 2012 and based in San Carlos, CA. Upstart Personal Loans is available in 49 states (and Washington, DC).
- APRs starting at 6.53%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Upstart Personal Loans are on the lower end of the spectrum.
- Fast access to funds. In some cases you can get your money within 1 business day.
- Large loan amounts. You can apply for loan amounts of up to $50,000 with Upstart Personal Loans.
- Prequalified rate. You can check your prequalified rate at Upstart with a soft pull that will not affect your credit score.
- Origination fees of up to 8%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- Minimum income of $12,000. You will need an annual income of at least $12,000 to apply for Upstart Personal Loans, which is below average for the lenders in our database
| Pros | Cons |
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What interest rates and personal loan terms does Upstart loans offer?
Upstart loans has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Upstart loans offer?
Upstart loans offers a fixed APR personal loan product that ranges from 6.53% APR up to 35.99% APR.
How much can you borrow via Upstart loans?
Business loan amounts start at $1,000 and go up to $50,000.
What is the maximum loan term you can get with Upstart loans?
Upstart loans offers loans with terms of up to 60 months.
| Personal Loan Amount | $1000 - $50000 |
| Loan Term | 36 - 60 months |
| APR | 6.53% - 35.99% |
What fees does Upstart loans charge?
Does Upstart loans charge an origination fee?
Upstart loans may charge a personal loan origination fee of 0% to 8% of the personal loan amount. Upstart loans deducts the origination fee directly from your personal loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Upstart loans charge a late fee?
Yes, Upstart loans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $15.
Does Upstart loans charge prepayment fees?
No, Upstart 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 | 0% - 8% |
| Prepayment Fee | No |
| Late Payment Fee | $15 |
What do you need to qualify for Upstart Personal Loans?
Applicants with a credit score of at least 620 and up to 850 may be eligible for Upstart Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.To qualify for personal loans with Upstart Personal Loans, applicants need a minimum annual income of $12,000 or higher. Upstart Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Upstart Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Upstart Personal Loans. Permanent resident / green card holders are also eligible to apply.
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
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
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| Credit Score | 620 - 850 |
What is the estimated funding time for a personal loan via Upstart loans?
Upstart loans will typically approve (or deny) a loan application within 24 hours and fund loans within 7 business days of approval.
Does Upstart Personal Loans report your account activity to credit bureaus?
Yes, Upstart Personal Loans reports your account activity to the following credit reporting agencies:
- 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 improve your credit.
Message From Upstart Personal Loans
Message From Our Editor
Contact
- Headquarters
-
2 Circle Star Way
San Carlos, CA 94070 - Visit Site
- Email Support
Other Services by Upstart
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- Wyoming
Feature Breakdown
| No Prepayment Fee | |
| Late Fee Amount | $15 |
| Origination Fee (%) | 0% - 8% |
Upstart Personal Loans Community Reviews
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