Online Loans, Credit Card and Debt Consolidation through Upstart

Get a smarter loan

Checking your rate won't affect your credit score ¹

Fair personal loans and car refinancing

Smarter rates

For personal loans, our rates are 10% lower than traditional lenders²

Easy, transparent process

Check your rate in minutes

No prepayment penalty

You may pay off part or all of the loan at any time with no fee

All unsecured personal loans are originated by Upstart-powered bank partners. Unsecured personal loans in MD and NV are originated by Cross River Bank, an FDIC New Jersey state chartered commercial bank. Car refinance loans not available in IA, MD, NV, or WV. Car refinance loans in IL and MO are originated by Cross River Bank or Midwest BankCentre. All other car refinance loans are originated by Cross River Bank, an FDIC New Jersey state chartered commercial bank.

We’ve helped more than 1 million customers

Upstart in the news

Many people are growing increasingly savvy and want an alternative to high interest credit cards
Upstart’s model has expanded credit access, and encouraged other lenders to explore ways to lend to more people with no or limited credit history
Rather than looking at a credit score alone, [Upstart] evaluates education, area of study and job history when considering applicants³

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Most borrowers are instantly approved⁴

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99% of personal loan funds are sent just 1 business day after signing⁵

Let us answer your questions

What is a personal loan?

An unsecured personal loan is money borrowed from a lender that is not secured by property such as a house or car over a fixed period of time. While most loans through Upstart are unsecured, certain credit unions may place a lien on other accounts you hold with the same institution. It is important to review your promissory note for these details before accepting your loan.

What is a car refinance loan?

A car refinance loan is a new car loan that usually replaces your current loan from a different lender. Refinancing your car loan can help you save money by lowering your APR or by reducing your monthly payments.

What’s the difference between an interest rate and an APR?

The interest rate is only one factor of the cost of the loan. The total cost can be understood by the APR which is the annual cost of a loan inclusive both of interest rate and all other associated fees. For example, the cost of an origination fee is included in the APR. When comparing loan products, it is important to compare the APR of each product.

How long will it take to get my money?

Personal loan funds are transferred on the next business day if the terms are accepted before 5pm ET Monday-Friday excluding holidays. If the terms are accepted after 5pm ET, on a weekend, or on a holiday, the funds will be transferred on the following business day provided that funds are not being used to directly pay off credit cards. For loans that are being used for education-related purposes, there is an additional 3 business day period between when you accept your loan and when you will receive the funds.

Car loan funds are dependent on several factors and we anticipate it taking 14 days after signing the promissory note. The title administration process timeline is dependent on several factors and can vary greatly by each state. We anticipate this process to take between 30 and 60 days after the loan origination to be complete, but some circumstances may occur to delay the lien perfection process further.

Will it affect my credit score?

Checking your rate on Upstart will not affect your credit score. If you proceed with your application after receiving a rate your credit score may be impacted. When you check your rate, we make a "soft credit inquiry." Soft credit inquiries on your report do not lower your credit score, but you may see when you view your report that this inquiry was made. If you are offered a loan and proceed with the application, a "hard credit inquiry" will be completed to verify the accuracy of your application. This action will be recorded as an inquiry on your report and it may impact your credit score.

Do I pay a fee if I pay off my loan early?

There is no prepayment penalty for paying off a loan on Upstart early. You may pay off part of all of the loan at any time with no fee. By prepaying, you will pay less overall interest because the loan is outstanding for a shorter time.

Is Upstart right for you?

² Approval numbers compare the 2020 loan approval rate by the Upstart model and a hypothetical traditional credit decision model. The APR calculation compares the two models based on the average APR offered to borrowers up to the same approval rate. The hypothetical traditional model used in Upstart’s analyses was developed in connection with the CFPB No Action Letter access-to-credit testing program, is trained on Upstart platform data, uses logistic regression and considers traditional application and credit file variables.

³ Neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.

⁴ The majority of borrowers on the Upstart platform are able to complete the application process automatically without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review.

⁵ If you accept your loan by 5pm EST (not including weekends or holidays), your funds will be sent on the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35.13 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

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Use of funds must be in accordance with Upstart's Acceptable Use Policy.