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Upstart personal loans review

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This lending platform looks beyond your credit to get you a loan based on your work experience and education.

finder.com’s rating: 4.1 / 5.0


  • Best for borrowers looking for competitive rates with quick turnaround.
  • Pick something else if you want to avoid a steep origination fee.


Max. Loan Amount

6.46% to 35.99%



Min. Credit Score


Product NameUpstart Personal Loans
Min. Loan Amount$1,000
Max. Loan Amount$50,000
APR6.46% to 35.99%
Interest Rate TypeFixed
Min. Credit Score620
Origination FeeUp to 8%
Late Fee$15 or 5% of the amount due — whichever is greater
Minimum Loan Term3 years
Maximum Loan Term5 years
Turnaround TimeUp to 1 business days
Go to Upstart Personal Loans's website

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

Upstart personal loans are ideal if you’re looking for competitive rates and a quick turnaround. APRs start at 5.67%, and you might be able to get your funds just one business day after approval.

You only need to have fair credit to qualify. And on top of looking at your credit score, it considers other factors like your education and employment history when determining the rate you qualify for.

However, it comes with steep origination fees as high as 8% — it’s possible to find lenders that don’t charge these at all. It also has strict debt-to-income ratio requirements compared to other lenders out there. And you can’t apply with a cosigner to help you qualify.

Not sure about Upstart? Compare your other options below.

First, am I eligible?

To qualify for a personal loan from Upstart, you’ll need to meet a few eligibility requirements:

  • Credit score of 620 or higher
  • Regular source of income
  • Personal banking account at a US financial institution with a routing transit number
  • US citizen currently living in the US, or a permanent resident currently living in the US
  • Not a resident in West Virginia or Iowa
  • Verifiable name, date of birth and social security number
  • Valid email address
  • At least 18 years old (applicants from Alabama and Nebraska must be at least 19 years old)

You may also need to provide your college transcript, SAT scores and pay stubs.

Residents of West Virginia and Iowa are currently unable to apply for a personal loan from Upstart.

According to Upstart, its average applicant

  • Is a college graduate
  • Earns approximately $93,206 a year
  • Has a credit score of 689

Upstart’s average personal loan

  • Lasts three years
  • Has an APR of 21%
  • Has monthly payments of about $35 per $1,000 borrowed


  • Holistic approval process
  • Fair credit OK
  • Low starting rates
  • Available in most states


  • Origination fee up to 8%
  • Debt-to-income ratio must be under 18%
  • Debt consolidation may be difficult
  • Cosigners aren’t accepted

Case study: Rhys’ experience

profile pic

Rhys Subitch

Upstart was my first venture into personal loans. I was in a pinch and needed to get funds to pay the remainder of my taxes before April 15 rolled around. After applying online and being accepted on the evening of April 9, the funds hit my account two days later.

Keeping up on payments has been easy enough so far using Upstart’s autopay feature. The clean dashboard makes it easy to see how much I’ve paid off, how much is left and where I can edit my recurring payments.

As easy as it’s been to manage the loan, I’m looking forward to paying it off early — especially since I won’t have to pay any extra fees.

Compare other personal loan providers

Updated January 22nd, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
Upgrade Personal Loans*
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.
Even Financial Personal Loans
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
NetCredit Personal Loans
34% to 155% (Varies by state)
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo Personal Loans
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
PenFed Credit Union Personal Loans
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
LendingClub Personal Loan
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
5.99% to 20.01%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

What do customers say about Upstart?

BBB accreditedYes
BBB ratingA+
BBB customer reviews3 out of 5 stars, based on 28 customer reviews
Trustpilot score5 out of 5, based on 5,572 customer reviews
Customer reviews verified as of26 December 2019

While some applicants complain about not being approved for a loan, most are pleased with Upstart’s customer service and their overall positive borrowing experience.

Go to Upstart Personal Loans's site

How do I apply?

When you’re ready to apply, follow these steps to get started online:

  1. Click the Go to Site button to be redirected to Upstart’s website.
  2. Select your reason for borrowing and click Check Your Rate.
  3. Enter your loan amount and enter some details about yourself, including your date of birth and highest level of education.
  4. Enter your email address and password to create an account.
  5. Read over Upstart’s terms and click Agree and See Your Rate to submit your application.

What information do I need to apply?

To complete an application, you will need to provide some basic information:

  • Highest level of education
  • Amount in savings and investments

Upstart may also ask for your Social Security number if it needs to confirm your identity.

What happens after I apply?

It should only take about five minutes to complete Upstart’s application. If preapproved, Upstart will provide instructions on how to finalize your loan request. If you aren’t approved, you can apply again within 30 days.

How do repayment work with Upstart?

You can make your payments biweekly or monthly, and there’s no prepayment penalty if you choose to make a payment before the due date or repay your loan entirely before the end of the loan term. And if you run into financial trouble, you can work with Upstart to find a new payment plan.

Contact Upstart if you think you may be unable to make your payment on time. If you’re late, Upstart may charge a fee of either $15 or 5% of the payment due — whichever is greater. If your check bounces, you may also be charged a $15.

You should always read up on your options before making a decision, and if possible, compare similar lenders to see where you can find the best deal.

Frequently asked questions

Personal loan ratings

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Read the full methodology of how we rate personal loan providers.

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  1. Default Gravatar
    July 16, 2017

    I own my home but with my life estate the house will go to my son. i have a loan that i paid for years and on time.. my son took it over past 6yrs nd recently it went into forecloser. my daughter saved my house but i would like to refinance it i owe 11,000 on the loan but i have 85,000 in equity

    • Avatarfinder Customer Care
      July 17, 2017

      Hi Jelene,

      Thank you for your inquiry.

      Should you need to refinance your current home loan you may be interested on this options.

      I hope this information has helped.


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