Upstart | Credello

The basics

Estimated APR

5.35% - 35.99%

Min. Credit Score

600+

Max. DTI Debt to Income Ratio

45%

Origination Fees

0% - 8%

Late Penalties

$15 or 5%

Prepayment Fees

$0

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 Credello

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	Possible origination fee
Accepts borrowers with limited credit history	High maximum APR
No prepayment penalty	Limited loan term options

Pros

Cons

Fast funding: as soon as one business day

Possible origination fee

Accepts borrowers with limited credit history

High maximum APR

No prepayment penalty

Limited loan term options

Do you 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.

Upstart: Personal Loan Review