Upstart Personal Loans
Get approved in minutes, even with no credit history, for loans between $1,000 and $75,000 with competitive APRs starting at 6.5% and funding as soon as 1 business day.
Upstart Personal Loans deliver fast and accessible funding for almost any borrower. With APR rates ranging from 6.5% to 35.99%, qualifying applicants can borrow amounts from $1,000 to $75,000, making it a strong option for those with little or no credit history. Loan terms are typically 36 or 60 months, offering flexibility for different needs. There’s no early payoff penalty, and most successful applicants receive their money by the next business day, making Upstart highly competitive for urgent financial needs.
How to Apply: Step by Step
1. Check eligibility and estimated rates with a quick online form.
2. Submit your basic personal and financial details—no documentation needed at this stage.
3. Complete the application, agreeing to a hard inquiry for final approval.
4. Review and accept your loan offer.
5. Receive funds as soon as the next business day.
Pros of Upstart Personal Loans
One notable benefit is Upstart’s inclusive credit model, which accepts applicants with low or even no credit history. The application is fast and easy, often yielding an approval decision within minutes.
Additionally, there’s no penalty for paying off the loan early, and most borrowers receive funds quickly, making Upstart a go-to choice for immediate financial needs.
Cons of Upstart Personal Loans
Borrowers should be mindful of the origination fee, which ranges from 0% to 12% of the loan amount, and the relatively high late fees if payments are missed.
Another drawback is the $10 fee for requesting paper copies of your loan agreement, which may affect those who prefer physical records.
Verdict: Is Upstart Right for You?
Upstart stands out for its speed and accessibility, making it a top choice for borrowers lacking extensive credit history. While the origination and late fees could be higher than some competitors, the loan’s flexibility and fast funding are significant advantages. If you need funds quickly and want a straightforward process, Upstart Personal Loans are well worth considering.
