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Upstart personal loans review

This online lender looks at multiple factors, including your education and work experience.’s rating: 4.1 / 5.0


Bottom line: For many borrowers, Upstart’s nontraditional underwriting criteria may make it easier to be approved for funding. However, it can be a pricey option for borrowers who just meet its minimum requirements.


Min. Loan Amount$1,000
Max. Loan Amount$50,000
APR5.55% to 35.99%
Interest Rate TypeFixed
Min. Credit Score580 or 600 depending on state of residence
Origination FeeUp to 8%
Late Fee$15 or 5% of the amount due — whichever is greater
Loan Term3 or 5 years
Turnaround Time1 to 3 business days
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Pros and cons

  • Counts education and career in underwriting process
  • Fair credit OK
  • No prepayment penalty
  • Most loans funded within one business day
  • Origination fee up to 8%
  • Debt consolidation may be difficult
  • Only two terms to choose from

Upstart rates, fees and terms

Upstart personal loans come with rates that range from 5.55% to 35.99%. This may include an origination fee between 0% to 8%, which Upstart takes from your loan before sending it to your bank account.

Upstart also charges a late payment fee of $15 or 5% of the amount due and a return check fee of $15. These won’t impact your APR, but they will add to the cost of your loan if you’re unable to make your repayment.

You can borrow between $1,000 and $50,000 with a choice of a 3 or 5 years term. However, the exact amount you can borrow depends on your state. For example, loans start at $3,100 Georgia, $5,100 in New Mexico, $6,000 in Ohio and $7,000 in Massachusetts. Factors like your level of education, career path, credit score and debt-to-income ratio can also affect your loan.

Our calculator can help you estimate your monthly repayment with Upstart.

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Upstart’s average personal loan

  • Lasts three years
  • Has an APR of 25.16%
  • Has monthly payments of about $37 per $1,000 borrowed

Its average applicant

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

Compare other personal loan providers

To see lenders like Upstart, select your credit score and state. Then click Show me my personalized options.

Name Product Filter Values APR Min. Credit Score Loan Amount
BHG personal loans
$20,000 – $200,000
A highly-rated lender with quick turnaround and reliable customer service.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$600 – $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Best Egg personal loans
5.99% to 29.99%
$2,000 – $50,000
A prime online lending platform with multiple repayment methods.
PenFed Credit Union personal loans
5.99% to 17.99%
$600 – $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
4.99% to 19.63%
$5,000 – $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

Upstart reviews and complaints

BBB accreditedYes
BBB ratingA+
BBB customer reviews1.61 out of 5 stars, based on 49 customer reviews
BBB customer complaints72
J.D. Power rankingRanked #6 in JD Power 2021 customer satisfaction
Trustpilot score4.9 out of 5 stars, based on 9,617 customer reviews
Customer reviews verified as of15 July 2021

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

How to qualify

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

  • Credit score of 600
  • Regular source of income
  • Personal bank account
  • No previous bankruptcies
  • Fewer than six credit inquiries in last six months
  • Not a resident of Iowa or West Virginia

How the application works

Upstart’s application should only take a few minutes. You’ll need to enter basic information about yourself — including your current savings and investments, which most lenders don’t ask for. Once you submit your information, Upstart will run a soft credit check to confirm your identity.

To get started, click Check my rate. If preapproved, Upstart will provide instructions on how to finalize your loan request. You may also need to provide your college transcript, SAT scores and pay stubs. However, Upstart states that most borrowers won’t need to provide additional documentation when they submit an application.

If you aren’t approved, you can apply again within 30 days.

Case study: Rhys’ experience

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.

Is Upstart legit?

Yes, Upstart is a legit online lender. Loans are funded by Cross River Bank, an FDIC-insured New Jersey–chartered commercial bank. It uses GoDaddy software to protect your personal information. And it breaks down how it collects and shares your information in its privacy policy.

But watch out for scams. Upstart reported to the BBB that its name was being used in a scam, where borrowers were asked to pay an upfront fee, buy insurance and provide gift cards before getting a loan. If you get an email claiming to be from Upstart, reach out to customer service before you apply.

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

What does Upstart look at on my credit report?

When Upstart checks your credit, it will make sure that you don’t have more than six inquiries on your credit report in the last six months — excluding those for mortgages, vehicle loans and student loans. It will also make sure you don’t have any bankruptcies, accounts in collections or delinquent or public records on your report.

Can I extend my loan term?

No. Upstart doesn’t allow extensions. However, you can request an alternative payment plan by reaching out to customer service.

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

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


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. APR starts at 8.27%, 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, Upstart 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.

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    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.

      You do have an option to refinance your current home loan. Click on that link to learn more.

      I hope this information has helped.


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