Upstart Personal Loans
Get funded quickly with APRs starting at 6.7%, terms of 36 or 60 months, and flexible approval—even for those with limited credit history.
Upstart Personal Loans are an excellent choice for borrowers needing money fast, even if your credit score is less than perfect or your history is limited. With APRs ranging between 6.7% and 35.99% and loan amounts from $1,000 to $75,000, you can select 36 or 60-month repayment terms to fit your situation. Upstart is known for its fast funding, often disbursing funds the next business day after all steps are complete.
How to apply for Upstart Personal Loans
- Visit the Upstart application page and submit your personal details.
- Check your rate—no impact on your credit score for the initial soft inquiry.
- Pick your loan amount and preferred term if approved.
- Complete required documentation verifications, including a possible hard credit check.
- Electronically sign the agreement and receive your funds, usually by the next business day.
Key Pros
Upstart welcomes applicants with credit scores as low as 300 and even those without a credit history, making it highly accessible. You can check your loan offers with just a soft credit pull, so there’s no risk to your score early on. There’s no early payoff penalty, allowing you to save on interest if you pay back sooner than planned. Additionally, after completing the necessary paperwork, funds are distributed quickly—perfect for urgent situations.
Main Cons
Borrowers may encounter higher origination fees; Upstart charges up to 12% depending on your situation. Additionally, late fees are considerable, being the greater of 5% of the past due amount or $15. Certain documents and a valid Social Security number are also necessary, which may not suit everyone. Lastly, requesting paper agreements comes with a $10 fee, although virtual copies remain free.
Final Verdict
Upstart Personal Loans stand out for their inclusive credit requirements and lightning-fast disbursal. If you need cash quickly for consolidation, a major purchase, or an unexpected event, Upstart can deliver reliable funding efficiently. However, keep an eye on potential fees and make sure all loan terms suit your needs before finalizing. For those requiring speed and flexibility, Upstart is a solid lender to consider.