Upstart vs. SoFi®: Which is better?

Paying for unexpected expenses or seeing high-interest debt accumulate can feel like a strain. Whether you’re looking to fund home improvements, medical expenses or a special occasion, a personal loan usually serves as a lower-interest option than other financial tools such as a credit card. But, not all lenders are created equal. Upstart and SoFi are both marketplaces offering personal loans, but each caters to a different type of borrower. We’ll compare the rates, fees and more to help you decide which marketplace fits your needs best.

Upstart vs. SoFi: A quick comparison

• SoFi's terms and conditions

  Fixed rates from 8.99% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 04/24/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plusby paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

Upstart vs. SoFi: Which one’s better?

While Upstart and SoFi both offer personal loans, Upstart’s loans may offer more flexibility in terms of repayment plans, maximum lending amounts and eligibility requirements. Its 300 minimum credit score requirement and a rubric that includes educational background means younger or lower-credit score borrowers may have an easier time qualifying. Meanwhile, SoFi requires a higher credit score but has zero additional fees.

When to consider Upstart

Upstart has a lower minimum credit score requirement and may work best if:

• You have a lower credit score. Upstart lends to borrowers with a minimum of 300 credit scores.
• You have a short employment history. Upstart also considers your education if you don’t have an extensive employment history.

When to consider SoFi

SoFi offers quick approval and more flexible loan terms that may work best if you need:

• Faster loan funding. SoFi offers same-day funding for approved borrowers.
• Flexible repayment options. Depending on your loan’s terms, you may have up to seven years to repay the full amount and interest.
• No additional fees. SoFi has zero fees, so you won’t pay late fees, origination fees or prepayment penalties.

The similarities

Upstart and SoFi are digital lenders that offer personal loans for debt consolidation, higher education, home improvements and more. They both have positive reviews from verified third-party organizations such as Better Business Bureau and Trustpilot.

SoFi stands out in the marketplace due to its lower APRs and longer repayment periods. On the flip side, Upstart caters to those with fair to poor credit and offers loans as little as $1,000 in select states. At the end of the day, we recommend comparing other loan options to determine which lender best suits your credit profile, ideal repayment terms and overall life needs.

Alternatives to SoFi and LendingClub:

Here are three alternatives to SoFi and Lending Club:

• Upgrade: Upgrade offers fixed-interest loan products also up to $50,000. Depending on set terms by the lender, you may have up to seven years to repay your loan. A hardship program is also available to help with repayments.
• Best Egg: Best Egg offers personal loans with APRs starting from 6.99% and offers loan amounts up to $50,000 with a variety of repayment methods. It was ranked the number-one company in 2021 by Best Company, a consumer review site.
• Avant: Avant is more lenient than most lenders since it does not require a credit score and welcomes self-employment income.

Compare other personal loans

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Finder Score	APR	Min. credit score	Loan amount
Promoted Finder score 8.6 Great Upgrade personal loans	Finder score 8.6 Great	7.74% to 35.99%	580	$1,000 to $50,000	Check your rates with this online lender without impacting your credit score.	Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.6 Great Best Egg personal loans	Finder score 8.6 Great	6.99% to 35.99%	640	$2,000 to $50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent LightStream personal loans	Finder score 9.4 Excellent	6.24% to 24.89%	Good to excellent credit	$5,000 to $100,000	Borrow up to $100,000 with low rates and no fees.	Go to site More info Compare product selection Compare	loading
Finder score 8.9 Great SoFi personal loans	Finder score 8.9 Great	8.99% to 35.49% fixed APR	680	$5,000 to $100,000	A highly-rated lender with competitive rates, high loan amounts and no required fees.	Go to site More info Compare product selection Compare	loading
Finder score 7.7 Great Upstart personal loans	Finder score 7.7 Great	6.7% to 35.99%	300	$1,000 to $75,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site More info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The 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.

Read the full breakdown

See how other lenders stack up

Want to learn how other lenders compare?

• LendingCLub vs. LendingTree
• Upstart vs. Prosper
• Prosper vs. LendingClub vs. Upstart
• SoFi vs. LendingClub
• BestEgg vs. Upstart
• LightStream vs. SoFi
• Upgrade vs. Upstart

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Dhara Singh

Writer

Dhara Singh was a freelance personal finance writer at Finder specializing in loans. Formerly she was a top 10 journalist at Yahoo Finance with more than 38+ million content views where she covered retirement and mortgages. She has also written for Bankrate, and CNET and continues to write for a variety of outlets, such as Investopedia and Worth magazine. Her articles focus on equipping readers with the right information and data so they can make the most informed decisions related to their finances. Dhara previously worked as an insights analyst for Finder’s PR team, where she started the Deadliest Cities to Drive series in 2018, connecting interesting data analysis to a suite of car insurance products. When she’s not writing, Dhara coaches small business owners through her Stories to Sales programs and empowers them to use their life experiences to help other people. She has also self-published a poetry book on Amazon called Tell her She’s Lovely. Dhara holds a B.S. in Finance and Supply Chain Management from Rutgers University and a M.S. in Journalism from Columbia University. See full bio