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Advertiser Disclosure

Upstart: Personal Loan Review

The basics

Estimated APR

5.35% - 35.99%

Min. Credit Score


Max. DTI Debt to Income Ratio


Origination Fees

0% - 8%

Late Penalties

$15 or 5%

Prepayment Fees


Good for: Low loan amount

Our verdict

Upstart offers funding as soon as the next business day and offers a low starting point for loans. With a possible origination fee and a high maximum APR, you'll need strong creditworthiness to get the best loan offer.

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on our lender's site

Beyond the basics

Fast funding

Low credit scores eligible

No prepayment penalty

Loan Amounts

$1,000 to $50,000

Loan Terms

36, 60 months

Time to Funding

1 business day

Full review

Lender description Upstart is an online lending platform that uses artificial intelligence (AI) to increase the availability of affordable credit for borrowers while simultaneously reducing the risks and associated costs for its lending partners.

Best used for

  • Credit card refinancing
  • Debt consolidation
  • Home improvement
  • Moving expenses
  • Medical expenses
  • Wedding

Pros & cons

  • Fast funding: as soon as one business day
  • Accepts borrowers with limited credit history
  • No prepayment penalty
  • Possible origination fee
  • High maximum APR
  • Limited loan term options

Most suitable for

  • Consumers looking to borrow a small amount
  • Consumers looking for funding by the next business day
  • Individual loan applicants

How to qualify You'll need to be a U.S. citizen or permanent resident currently residing in the U.S. who's at least 18 years old (in most states).

How to apply Apply online by providing basic personal information, including a valid email address, verifiable name, date of birth, and Social Security number, proof of income/employment, and U.S. bank account information.

Loan example The average three-year loan offered across all lenders using the Upstart platform will have an APR of 15% and 36 monthly payments of $33 per $1,000 borrowed. So if you borrowed $10,000, your monthly payment would be $330.