Written by
Joe Chappius
Company name
Upstart
Website
https://www.upstart.com
Phone
1-855-438-8778
support@upstart.com
Address
Upstart Operations Dept. P.O. Box 1503 San Carlos, CA 94070
Upstart Personal Loans Review 2025: AI-Powered Lending for Fair Credit Borrowers
Our take on Upstart in 30 seconds
Upstart offers personal loans with fixed APRs that vary widely based on credit, plus origination fees. No hidden fees and flexible terms, but total loan costs may be high.
Terms are clear and transparent.
Their support replied within 1 day but gave a generic response, avoiding key questions about post-loan support and loan term differences. This lowers their overall helpfulness despite decent transparency.
Pros & Cons
Advanced AI-Powered Lending Model: Upstart's standout feature is its AI platform that goes beyond traditional credit scoring. This technology evaluates borrowers on multiple factors, resulting in 27% more approvals than traditional companies.
Accessibility for Fair Credit Borrowers: Upstart is particularly beneficial for borrowers with fair credit scores or limited credit history (with a minimum credit score requirement of just 300 in most states).
Soft Credit Check Pre-Qualification: Upstart allows potential borrowers to check their rate and loan eligibility through a soft credit inquiry that doesn't impact their credit score.
Fast Funding Process: The platform offers quick decision-making and rapid funding. Once approved, funds can be deposited as soon as the next business day (if accepted by 5pm EST on a business day).
No Prepayment Penalties: Borrowers can pay off their loans early without incurring any prepayment penalties.
Potentially High Origination Fees: Upstart charges origination fees ranging from 0% to 12% of the loan amount, which is deducted from the loan proceeds.
Limited Loan Term Options: Upstart only offers two repayment term options - 36 or 60 months (3 or 5 years) - which provides less flexibility than lenders who offer a wider range of terms.
Geographic and Eligibility Restrictions: The service is not available to residents of West Virginia or Iowa, and has minimum loan amount requirements that vary by state (GA: $3,100, HI: $2,100, MA: $7,000).
Upstart At glance
Read reviews (7)The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.60% and an 8.51% origination fee of $851, for an APR of 23.07%. In this example, the borrower will receive $9149 and will make 60 monthly payments of $258.
Details
Upstart Car Loan
Terms & fees
Loan amount$9,000 - $100,000
Term2 years - 7 years
Annual interest rate7.8% - 35.99%
Origination fee0-2%
Monthly fees$0
Requirements
Minimum age18
Minimum income$1,000
National bank requiredNo
National phone number requiredYes
Citizenship requiredYes
Electronic identificationYes
Features
Cosigner possibleNo
Revocation periodNo
Accept bad credit historyYes
Weekend payoutNo
Loan extensionsNo
Early paybackYes
Payment within 24 hoursNo
Loan brokerNo
Interest free loanNo
Additional fields
Payment hoursAlways Open
High approval rateNo
Recommended companyYes
Upstart Loans
Terms & fees
Loan amount$1,000 - $50,000
Term3 years - 5 years
Annual interest rate7.8% - 35.99%
Origination fee0% - 12%
Monthly fees$0
Requirements
Minimum age18
Minimum income$1,000
National bank requiredYes
National phone number requiredNo
Citizenship requiredYes
Electronic identificationYes
Features
Cosigner possibleNo
Revocation periodNo
Accept bad credit historyYes
Weekend payoutNo
Loan extensionsNo
Early paybackYes
Payment within 24 hoursYes
Loan brokerNo
Interest free loanNo
Additional fields
Payment hoursAlways Open
High approval rateNo
Recommended companyYes
Upstart partners with banks to provide personal loans to customers ranging from $1,000 to $50,000. The company offers a range of loans including personal loans, debt consolidation loans, and credit card refinancing.
As the world's largest lending platform, qualifying for a loan doesn't damage your credit score and APRs start as low as 6.70%.
Note: Upstart offers its service in most U.S. states except West Virginia or Iowa.
The Upstart model accepts 27% more borrows than traditional models and on average they claim to yield 16% lower APRs for their approved loans.
Check your rate nowHow We Rate Upstart
At Financer, all companies go through a thorough research and review process. Here's how we rate Upstart:
| Category | Rating |
|---|---|
| Affordability | ⭐⭐⭐ |
| Application process | ⭐⭐⭐⭐ |
| Loan terms | ⭐⭐⭐⭐ |
| Transparency | ⭐⭐⭐⭐ |
| Customer support | ⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐ |
Upstart Overview
Upstart was created by ex-Googlers and boasts the AI platforms' ability to provide fair and fast personal loans.
The company offers loans to borrowers with fair credit from $1,000 to $50,000 and APRs starting at 6.70%. They offer a range of personal loans as well as auto refinancing.
Borrowers have 36 or 60 months to pay and the approval process is very fast.
Here's a quick summary of Upstart:
| Overview | Features |
|---|---|
| Loan type: | Unsecured personal loans |
| Loan amount: | $1,000 - $50,000 |
| Loan term: | 36 or 60 months |
| APR: | From 6.70% to 35.99% |
| Min. credit score: | 300 |
| Monthly fees: | None |
| Payout time: | One business day |
| Weekend payout: | No |
| Requirements: | Minimum age: 18Residing in the United States (don’t have to bea citizen or permanent resident) (exception formilitary)Minimum credit score of 300 in most statesNo bankruptcies or public records on your creditreportNo accounts that are currently in collections ordelinquentLiving in the 50 US states |
Upstart has a transparent application process and you can check your rate without affecting your credit score.
Visit Upstart to get startedUpstart has a unique AI system. As a lot of Americans are blocked from accessing credit, even with a stable payment history, Upstart implements a smarter credit model for lenders.
Fees
Upstart's fees are as follows:
Origination fees: One-time origination fee between 0% - 12%
Prepayment fees: None
Late fees: 5% of the amount or $15, whichever is greater
Failed payment fees: $15 for each unsuccessful payment
APRs: Range from 6.70% to 35.99%
Repayment Terms
Upstart's loan terms are either three or five years, i.e., 36 or 60 months. This is ideal for borrowers who want a longer repayment term.
You may repay your loan earlier and there are no prepayment penalties.
Who Is Upstart For?
Upstart is ideal for borrowers with fair credit who are looking for a low-APR loan from $1K-$50K. Upstart is available in most US states.
Eligibility Requirements
Here are the loan requirements when applying through Upstart:
Be of legal age to contract in your state of residence 18 or 19 years
Be a US citizen or a Permanent Resident
Have an annual income of higher than $12,000 or a signed contract to start within six months
Cannot have a current or recent bankruptcy
Cannot be a resident of West Virginia or Iowa
Tip: Our online loan calculator can help you find a loan if you live in a state that Upstart does not service.
Who It's For
Upstart is for you if:
You have a good credit history
Need funds fast
Don't have collateral
Want to complete an online application
Who It's Not For
Upstart may not be a good option for you if:
You want no origination fees
Need a loan of more than $50,000
Want to take out a secure loan
Live in these states: WV or IA
How To Apply for a Loan Through Upstart
Visit Upstart online
Visit Upstart online and choose the type of loan you need.
Choose the amount
Choose the amount you want to borrow.
View your terms
Get an estimate on your rates and terms to get an idea of the affordability.
Confirmation
If you want to go ahead with the loan, you'll see a confirmation of your details.
Get your funds
Once you accept, your fund will be deposited into your bank account as soon as the next day.
How Financer Rates Upstart
Our review of Upstart is that it is a good option for borrowers who have fair credit and need good rates.
They have a relatively streamlined approach to their approval system and do accept more borrowers than traditional models.
Their rate-determining factors are not just based on your credit score but also on other factors such as your education, the length of your credit history, your areas of study, and your job history.
This enables them to accept borrowers straight out of university that are yet to build their credit history.
Compare personal loan rates here
Reputation
Upstart has a good reputation across the board. It is the world’s largest lending platform. Their fast application process takes only a few minutes.
The results are shown quickly. Their reputation holds due to their ability to accept more customers than traditional methods.
Upstart provides loans that are generally paid into the borrower's account the next day. Those take three days to be approved by law.
Website and Functionality
Our experience with the Upstart website and customer feedback we have received is that it is very straightforward and simple to navigate.
The site having simplicity allows the borrower to find information quickly that is relevant to their individual needs.
Does Financer recommend Upstart?
Yes, we do recommend Upstart to customers that have a short credit history and have a guaranteed future income.
Compare personal loan rates here
More Upstart Reviews
What Users On the Web Are Saying
Upstart gets 4.9 out of 5 stars on Trustpilot, with users generally giving positive feedback:
On Quora, Upstart also gets generally positive user feedback:
More User Reviews - Add Your Rating
Read more reviews on Financer from verified users below.
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