SuperMoney
  Upstart Personal Loans

Upstart Personal Loans

in Personal Loans from Upstart

Claimed

Upstart Personal Loans

Claimed

in Personal Loans from Upstart

SuperMoney Net Recommendation Score -53%

SUPERMONEY NET RECOMMENDATION SCORE

-53%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

Strongly not recommended

9 users recommend
3 users are unsure
33 users don't recommend
Cast your vote
Cast your vote

Would you recommend Upstart Personal Loans to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Highlights
Highlights
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 45

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).

Key Takeaways
  • 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 cash. In some cases you can get your money within 1 business day.
  • Fair credit accepted. The credit score needed for Upstart Personal Loans is relatively low. Borrowers with a credit score as low as 620 may qualify for Upstart Personal Loans.
  • Large loan amounts. You can apply for loan amounts of up to $50,000 with Upstart Personal Loans.
  • 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
Upstart Personal Loans Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Considers applicants with poor credit.
  • Fast funding.
  • APRs as high as 35.99%.
  • Charges an origination fee of up to 8% of the loan amount.
  • Charges a late fee of up to $15.
  • No co-sign option.
Upstart Personal Loans FAQ

What rates and terms does Upstart Personal Loans offer?

Upstart Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Upstart Personal Loans offer?

Upstart Personal Loans offers a fixed APR personal loan product that ranges from 6.53% APR up to 35.99% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Upstart Personal Loans?

Loan amounts start at $1,000 and go up to $50,000

What can a personal loan from Upstart Personal Loans be used for?

Personal loans from Upstart Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.

What is the maximum loan term you can get with Upstart Personal Loans?

Upstart Personal Loans offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Upstart Personal Loans Rates & Terms
Loan Amount $1000 - $50000
Loan Term 36 - 60 months
APR 6.53% - 35.99%

What fees does Upstart Personal Loans charge?

Does Upstart Personal Loans charge an origination fee?

Upstart Personal Loans may charge a loan origination fee of 0% to 8% of the loan amount. Upstart Personal Loans deducts the fee directly from your 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 Personal Loans charge a late fee?

Yes, Upstart Personal Loans may charge borrowers a late payment fee of up to $15.

Does Upstart Personal Loans charge prepayment fees?

No, Upstart Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

Upstart Personal Loans Fees
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 are 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
Upstart Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 620 - 850

    What is the estimated funding time for a personal loan via Upstart Personal Loans?

    Upstart Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.

    Does Upstart Personal Loans report your account activity to credit bureaus?

    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 can help improve your credit.

    Upstart Personal Loans Disclosure: This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Duplicate offers received as a result of multiple injuries by the same person are void. This offer may be accepted only by the person identified in this offer and legally able to enter into a contract for the extension of credit and a U.S. citizen or permanent resident and currently a resident in the US. You may be eligible for loan amounts from $1,000 to $50,000, subject to final loan approval. The minimum loan amount is $6,000 for borrowers in Ohio and $7,000 for borrowers in Massachusetts. APRs range from 6.00% - 29.99%. Not all applicants will qualify. Loan approval, APR and loan amount will be determined based on your credit, income and other information provided in the application. Closing your loan is contingent upon you meeting our eligibility requirements, our verification of your information and your agreement to all of the terms and conditions on the www.upstart.com website. If you accept your loan by 5 PM ET (except weekends and holidays) you will receive your funds the next business day. Education-related loans are subject to a mandatory 3 business day waiting period, following the applicant’s acceptance of the loan terms.
    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.

    Contact

    • Headquarters
    •   2 Circle Star Way
      San Carlos, CA 94070
    •   Visit Site

    Other Services by Upstart

    Availability

      Available in 49 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Prepayment Fee  
    Late Fee Amount $15
    Origination Fee (%) 0% - 8%
    Checking Account Required  
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted Individual Applications
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Minimum Age 18
    Minimum Annual Income $12,000
    Supported Income Types
    • 1099 Misc. Income
    • Cash
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    Verification Documents Required
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 620 - 850
    Approval Speed 24 hours
    Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
    Customizable Payment Dates  
    Funding Time Range 1 - 7 days
    Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
    Pre-Approved Soft Credit Inquiry  
    Loan Amount $1,000 - $50,000
    APR (Fixed APR) 6.53% - 35.99%
    Loan Term 36 - 60 months

    Upstart Personal Loans Community Reviews

     

    Would you recommend Upstart Personal Loans to your friends?

    Before we publish your vote:

    Please explain your vote by sharing your experience.

    Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

    Please write a review to submit your vote
    Cancel my vote
    (will require moderator approval)

    SUPERMONEY NET RECOMMENDATION SCORE

    -53%

    -100% 0% +100%
    No one recommends Everyone recommends

    Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

    sorted by

    Other Personal Loans