Upstart Personal Loans
Qualify for loan amounts from $1,000 to $75,000 with APRs from 6.7%–35.99% even with limited credit history. Same-day funding and no early payoff fees.
Upstart Personal Loans offer fast access to funds, even if you have limited or poor credit history. With loan amounts ranging from $1,000 to $75,000 and APRs starting as low as 6.7%, this loan is suitable for debt consolidation, refinancing, or handling significant, unexpected expenses. Terms are available for 36 or 60 months, and most borrowers receive funds as soon as one day after approval. No early payoff fees make this loan a flexible choice for borrowers who value payoff freedom.
How to Apply for Upstart Personal Loans
- Check your rate online by providing basic personal and financial information
- Review the estimate with no effect on your credit score
- Submit a full application and required documents if you like the offer
- Complete necessary paperwork electronically to speed up the process
- Receive funds, typically by the next business day after all requirements are completed
Key Advantages
Upstart welcomes applicants with minimum credit scores as low as 300 and even those without any credit history. This broad qualification makes it one of the most accessible lenders.
There are no early payoff penalties, so ambitious borrowers can minimize interest charges by repaying their balance early. Funds disburse quickly to your bank account so you can cover important expenses without delay.
Potential Drawbacks
Borrowers pay an origination fee between 0% and 12% of the loan amount, automatically deducted upfront. This fee can impact the total funds you receive.
There is a high late fee of $15 or 5% of the outstanding payment, whichever is greater. Make sure you set up reminders or autopay to avoid costly fees and keep your loan affordable.
Final Verdict
Upstart Personal Loans stand out for their inclusivity, speed, and straightforward application process. While the origination fee may deter some, the lack of early payoff penalties and quick funding make this a great option for those with limited credit history or immediate financial needs. Always check your pre-qualified offer to see if the rates and fees meet your expectations before proceeding.