If you’re considering a personal loan, Upgrade and Upstart may both appeal to you for different reasons. Upgrade requires a lower credit score minimum and offers direct payment to your creditors. Upstart, on the other hand, considers factors outside your credit score. Both lenders offer quick turnaround times and approve loans for those with fair credit profiles.
| Upgrade | Upstart | |
|---|---|---|
|
| |
| Finder rating | ★★★★★ | ★★★★★ |
| Loan products offered |
|
|
| Interest rates | 9.99% to 35.99% | 7.40% to 35.99% |
| Fees | Between 1.85% and 9.99% origination fee | Between 0% and 12% origination fee |
| Loan amounts | $1,000 to $50,000 | $1,000 to $50,000 |
| Turnaround time | 1 to 4 business days | As soon as the same day |
| Eligibility requirements |
|
|
| Ratings |
|
|
| State availability | Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia | Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia |
| Pros |
|
|
| Cons |
|
|
Upgrade and Upstart both welcome borrowers with fair to good credit scores and can approve up to $50,000 in personal loans. Upgrade allows you to have a wide range of term lengths, while Upstart’s AI-driven model approves borrowers with criteria outside of credit scores, such as education and employment. While Upgrade may offer a suite of education resources and generous personal loan term lengths, both borrowers are a great option for borrowers depending on their needs.
Upgrade may be the right lender for you if you need:
Upstart may be a more compatible option if you want:
While Upstart has lower minimum APRs and is available in more US states, both lenders offer quick application processes, fast funding and are highly rated by the Better Business Bureau (BBB).
Compare up to four lenders side-by-side to see how they stack up.
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
If neither lender suits your needs, check out these similar personal loan lenders.
Need help paying for a vacation? Compare top personal loans that can be used to cover travel expenses.
What’s the smartest way to borrow as a veteran? Explore your best options here.
It is possible for non US citizens or resident aliens to get a personal loan, including a mortgage, in the US. Here’s how.
Need quick cash? See how BMG Money helps employees handle emergencies without a credit check.
Legit lenders don’t offer guaranteed approval loans, but some options come pretty close if you can meet the lenient requirements to qualify.
Compare cash advance apps or personal loans as alternatives to allotment loans like Kashable.
Explore loans like Viva Finance with eligibility flexibility and higher loan amounts.
Tally is a debt management app offering a revolving line of credit to consolidate credit card debt.
Want to avoid hidden fees? Here are the best personal loans with no origination fees, plus how to save on your next loan.
Prosper is a peer-to-peer lender offering loans of up to $35,000 at competitive rates with simple terms. Learn about similar online lenders.
