Loans

Upstart Personal Loans review: is it worth it?

Keep reading and find out if this lender is the right option for your financial troubles. Get the money you need in 1 business day!

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Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.

Upstart Personal Loans review and benefits: Borrow up to $75,000

Upstart Personal Loans logo
Upstart Personal Loans review. Source: Stealth Capitalist

Read the Upstart Personal Loans review and find out what this lender is about! This lender will provide the money your need quickly!

card

Personal Loan

Upstart

Online Fast Funding

Up to $75,000 for several purposes. No prepayment fees!

You will be redirected to another website

However, to help you decide if it’s the right choice, we’ve taken an in-depth look at what Upstart Personal Loans offers and how it works. So keep reading to find out more!

APR6.5% – 35.99%;
Loan PurposeConsolidating credit card and other debts, Paying for moving expenses, Funding home improvements, Covering medical costs, Financing a wedding, and Starting or expanding a business;
Loan Amounts$1,000 – $75,000;
Credit NeededAll types of credit scores are accepted;
Origination FeeUp to 8%;
Late Fee5% of the unpaid amount or $15, whichever is greater;
Early Payoff PenaltyN/A.

Upstart Personal Loans: how does it work?

Upstart Personal Loans has the solutions for your financial needs. Thus, it provides personal loans for several purposes, including debt consolidation and home improvements.

With this lender, you can borrow up to $75,000 to put your financial life on track.

Also, you can count on 3 or 5-year terms over fixed rates and pay no prepayment fees.

In addition, borrowers can also have a financial education service. Furthermore, the requested amount is released from a few days to use.

Is it worth it to apply for Upstart Personal Loans?

Handsome black guy holding fan of dollars celebrating success
Decide if it’s worth it to apply for Upstart Personal Loans. Source: Adobe Stock

The Upstart Personal Loans are excellent for covering your emergency costs.

After all, you don’t need a good credit score to apply, and you can get up to $75,000 released.

However, you also have some disadvantages with this type of loan. In that sense, you can afford high APR and don’t rely on co-signers.

Moreover, check out the main positives and negatives!

Benefits

  • Financing is released quickly, within up to 1 business day;
  • Allows borrowers with all types of credit scores;
  • You can change the payment date according to your needs;
  • There is the possibility of quick and easy pre-qualification without significantly changing the credit score;
  • Financial education service included.

Disadvantages

  • It has some associated origination and late payment fees;
  • Does not allow co-signers or joint signatures;
  • No mobile app to monitor payments;
  • The term for repayment only has two options available.

What credit scores are required for the application?

Upstart Personal Loans has no minimum credit score requirements. Therefore, all scores are accepted, and you can conquer the maximum values allowed.

However, the lower your credit score, the higher the associated APR. Therefore, you may have lower rates if you have a good or excellent credit score.

Upstart Personal Loans: applying for this loan today

Grant access to financial relief for your business or personal expenses. Here’s how to apply for Upstart Personal Loans are making it easier than ever to get a loan.

card

Personal Loan

Upstart

Online Fast Funding

Up to $75,000 for several purposes. No prepayment fees!

You will be redirected to another website

Enjoy competitive rates and fast turnaround times that can help keep you on track. So read on to learn more about this lender’s application process!

Apply online

The process to apply for an Upstart Personal Loan is simple! First, you need to prequalify on their website, which we’ve provided above.

After that, you can preview loan offers and choose the best for your needs.

Then submit a formal application that may require proof of income such as W-2s, contracts, tax returns, or other documents.

If approved, you can get the requested amount as soon as 1 business day! Fast and simple, isn’t it?

Requirements

Young smiling happy fun caucasian woman wear knitted sweater hold in hand use mobile cell phone chatting isolated on plain pastel light blue cyan background studio portrait. People lifestyle concept.
Learn the requirements to apply for Upstart Personal Loans. Source: Adobe Stock

To be eligible to apply for an Upstart Personal Loans, you must be a U.S. citizen and at least 18 years old (or older, depending on the state).

Additionally, each applicant needs a valid email address, a verifiable name, and a date of birth. Moreover, you need a Social Security number.

Upstart requires applicants to have either full-time employment or a new job expected to start within six months from the time of application submission.

Lastly, all applicants must have an active bank account to disburse funds once approved for their loan.

Apply on the app 

You can only apply for Upstart Personal Loans through their official website. Therefore, it is necessary to have access to a mobile device with internet and browser.

Then, you will have to follow the same procedure as the online application.

Upstart Personal Loans vs. SoFi Personal Loans: which one is the best for you?

Upstart Personal Loans are an excellent option to fund emergencies and immediate needs.

After all, you have up to $75,000 to use as needed. But that’s not your only option.

You can also think of SoFi Personal Loans. With this loan, you can get up to $100,000 for your debts or dreams.

However, having more than 650 as a credit score is necessary. Check out both options’ features and choose which is best for you.

Upstart Personal LoansSoFi Personal Loans
APR 6.5% – 35.99%;7.99% – 23.43% Variable;
Loan PurposeConsolidating credit card and other debts, Paying for moving expenses, Funding home improvements, Covering medical costs, Financing a wedding, and Starting or expanding a business;Credit card consolidation, Home improvements, Relocation assistance, and Medical procedures;
Loan Amounts $1,000 – $75,000; $5,000 – $100,000;
Credit NeededAll types of credit scores are accepted; 650 minimum;
Origination FeeUp to 8%;None;
Late Fee5% of the unpaid amount or $15, whichever is greater; None;
Early Payoff PenaltyN/A. None.

SoFi Personal Loans has very interesting features to solve your financial issues.

However, it is important to know how to apply to be approved. Check the post below with all the tips!

Sofi Logo

SoFi Personal Loan: how to apply now!

Learn how to apply for the SoFi personal loan. No hidden fees. Borrow up to $100k and use it for multiple purposes. Read on to learn more.

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