If you’re considering a personal loan, Upgrade and Upstart may both appeal to you for different reasons. Upgrade requires a lower credit score minimum and offers direct payment to your creditors. Upstart, on the other hand, considers factors outside your credit score. Both lenders offer quick turnaround times and approve loans for those with fair credit profiles.
| Upgrade | Upstart | |
|---|---|---|
|
| |
| Finder rating | ★★★★★ | ★★★★★ |
| Loan products offered |
|
|
| Interest rates | 7.74% to 35.99% | 6.5% to 35.99% |
| Fees | Between 1.85% and 9.99% origination fee | Between 0% and 12% origination fee |
| Loan amounts | $1,000 to $50,000 | $1,000 to $75,000 |
| Turnaround time | 1 to 4 business days | As soon as the same day |
| Eligibility requirements |
|
|
| Ratings |
|
|
| State availability | Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia | Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia |
| Pros |
|
|
| Cons |
|
|
Upgrade and Upstart both welcome borrowers with fair to good credit scores and can approve up to $50,000 in personal loans. Upgrade allows you to have a wide range of term lengths, while Upstart’s AI-driven model approves borrowers with criteria outside of credit scores, such as education and employment. While Upgrade may offer a suite of education resources and generous personal loan term lengths, both borrowers are a great option for borrowers depending on their needs.
Upgrade may be the right lender for you if you need:
Upstart may be a more compatible option if you want:
While Upstart has lower minimum APRs and is available in more US states, both lenders offer quick application processes, fast funding and are highly rated by the Better Business Bureau (BBB).
Compare up to four lenders side-by-side to see how they stack up.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
If neither lender suits your needs, check out these similar personal loan lenders.
Compare five lenders that offer personal loans for business purposes.
Are payments for your timeshare becoming a burden? Here’s how to refinance.
LendWyse advertises large loans with fast funding — but reviews reveal a surprising twist.
A review of TriPoint Lending, a company that claims to offer personal loans but may try to get you to enroll in a debt settlement program.
Compare some of the best allotment loans for federal employees, with competitive rates and lenient credit requirements.
6 options when you’re struggling to pay your legal fees out of pocket.
Find out how you can borrow more and pay less each month with a long-term loan. But watch out for high interest charges.
These sites like NetCredit offer personal loans online, accept bad credit and can improve your credit score.
SoFi provides personal loans for different purposes and its online application process takes little time to complete.
Personal loans from credit unions can lead to big savings on interest. How do they differ from a regular personal loan and what do you need to apply?
