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Rocket Loans vs Upstart: Which Personal Loan Is Better?

Ante Mazalin avatar image
Last updated 08/13/2025 by
Ante Mazalin
Edited by
Andrew Latham
Andrew Latham
Summary:
Rocket Loans and Upstart both offer fast, unsecured personal loans — but they cater to different borrower types. Rocket Loans stands out for same-day funding and a streamlined application. Upstart, on the other hand, is ideal for borrowers with limited credit history, thanks to its AI-driven approval process. If speed is your top priority, Rocket Loans delivers. But if your credit isn’t perfect and you want a better shot at approval, Upstart may be the smarter choice.

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Side-by-Side comparison Rocket Loans vs. Upstart

FeatureRocket LoansUpstart
Loan Amounts$2,000 - $45,000$1,000 - $50,000
APR Range8.01% - 29.99%6.53% - 35.99%
Loan Terms36 months - 60 months36 months - 60 months
Minimum Credit ScoreStarting at 660620 - 850
Origination FeesUp to 9.99%0% - 12%
Late Payment Fee$15$15
Prepayment FeeNoNo
Checking Account RequiredYesYes
Pre-Qualified Soft Credit InquiryYesYes
SuperMoney User Scorestrongly recommendedstrongly not recommended

About Rocket Loans Personal Loans

Rocket Loans is a fintech lender offering personal loans with lightning-fast approval and funding, sometimes on the same day. It’s a great choice for emergency expenses or quick debt consolidation.
Key Features of Rocket Loans:
  • Loan amounts range from $2,000 - $45,000
  • APRs range from 8.01% - 29.99%
  • Same-day funding often available
WEIGH THE RISKS AND BENEFITS
Here is a list of the benefits and drawbacks to consider.
Pros
  • Same-day funding available for qualified borrowers
  • Quick online approval process
  • Low minimum loan amount — $2,000 - $45,000
  • APR range starts at 8.01% - 29.99%
Cons
  • Origination fee can be up to Up to 9.99%
  • Late payment fee: $15
  • Shorter loan terms than some competitors
  • No perks like forbearance or unemployment protection

About Upstart Personal Loans

Upstart uses AI to evaluate borrowers, making it more accessible to people with short credit histories or lower credit scores. It’s a solid option for those who are new to credit or rebuilding.
Key Features of Upstart Personal Loans:
  • Loan amounts range from $1,000 - $50,000
  • APRs start at 6.53% - 35.99%
  • AI-powered approvals for faster decisions
WEIGH THE RISKS AND BENEFITS
Here is a list of the benefits and drawbacks to consider.
Pros
  • AI-driven approval process benefits new borrowers
  • Low minimum credit score — 620 - 850
  • Funding available as soon as the next business day
  • APR starts at 6.53% - 35.99%
Cons
  • Origination fee as high as 0% - 12%
  • Late payment fee: $15
  • Shorter loan term range than some lenders
  • No joint applications or co-signers allowed

Key Differences

Here’s how Rocket Loans and Upstart compare where it matters most:
  • Funding Speed: Rocket Loans can deliver same-day funding, while Upstart typically funds the next business day.
  • Credit Accessibility: Upstart uses AI to evaluate nontraditional factors, making it easier to qualify with a limited credit history.
  • Fees: Both lenders charge origination fees. Rocket Loans charges up to Up to 9.99%, while Upstart ranges up to 0% - 12%.
  • Loan Terms: Rocket Loans offers terms of 36 months - 60 months, while Upstart has slightly more flexibility with 36 months - 60 months.
  • Use Cases: Rocket Loans is great for speed, while Upstart is better for those with less-than-perfect credit or a thin credit file.
  • User Ratings: Rocket Loans has a strongly recommended score on SuperMoney, while Upstart scores strongly not recommended.
Bottom line: Choose based on whether you need speed or accessibility.

Choosing the Right Lender: Rocket Loans or Upstart?

Choose Rocket Loansif:
  • You need funds quickly — possibly on the same day
  • You want a simple, fast application with no extra perks
  • You’re borrowing a small-to-medium amount and can repay quickly
  • You have decent credit and value speed over flexibility
Choose Upstartif:
  • You’re building or rebuilding your credit history
  • You want a lender that considers your education, job history, and more — not just your credit score
  • You’re comfortable with AI-driven underwriting
  • You don’t qualify with traditional lenders but need fast personal loan access

What’s Next

Still deciding? Dig deeper with the full reviews:

Compare more lenders

Or explore our full list of personal loan lenders.

Key Takeaways

  • Rocket Loans is best for fast funding and quick approvals.
  • Upstart offers broader access to borrowers with limited credit history.
  • Both lenders charge origination fees and have short-to-medium loan terms.
  • Choose Rocket Loans for speed, Upstart for credit flexibility.

FAQs

Which lender offers faster funding?

Rocket Loans often delivers same-day funding, while Upstart funds next business day.

Does Upstart accept borrowers with bad credit?

Yes, Upstart’s AI model can approve borrowers with lower scores — 620 - 850.

Do both lenders charge origination fees?

Yes. Rocket Loans: Up to 9.99%. Upstart: 0% - 12%.

Which is better for a thin credit file?

Upstart is better for borrowers with limited credit history, thanks to its alternative approval criteria.

Which lender has better reviews?

According to SuperMoney users:
  • Rocket Loans: strongly recommended
  • Upstart: strongly not recommended

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