Upstart Personal Loans are designed for people who need funding quickly and may not have traditional credit history. APRs range from 6.5% to 35.99%, with loan amounts between $1,000 and $75,000. Loan terms are 36 and 60 months, and there is no early payoff penalty. A notable advantage is that applicants with low or even no credit history are considered, making this a flexible option for many.

How to Apply for Upstart Personal Loans

1. Start your application online by entering your personal and financial details.
2. Check your rate—Upstart uses alternative data, such as education and employment history, for approval.
3. If approved, choose your loan amount and term that fits your needs.
4. Sign the agreement electronically; most funds are available as soon as the next business day.

Key Benefits

Upstart accepts applicants with low or no credit history, so more people can qualify. There is no penalty for paying your loan off early, which helps you save money if your finances improve.

Most applicants are funded by the next business day, which can be crucial when urgent expenses arise. The online application process is simple and quick, saving you valuable time.

Things to Consider

Upstart charges an origination fee that can be up to 12% of your loan amount, which may affect your initial payout. Also, late fees can be relatively high compared to some other lenders.

Paper copies of your loan agreement come with a $10 fee, so make sure you’re comfortable handling everything electronically for best value.

Our Verdict

Upstart stands out for its fast funding and accessibility for those with little to no credit history. It’s especially suitable for borrowers who need money promptly, and the application process is very approachable for first-time personal loan applicants. However, review all fees and make sure you’re comfortable with the potential costs before proceeding.