Do personal loans have fees?

Yes, some personal loans include fees such as an origination fee, but not all lenders charge the same types or amounts. Loans through Upstart disclose every fee, including any origination or late payment fee, in the loan agreement before you accept the offer, so there are no hidden charges added later.

What fees can show up on a personal loan?

Personal loan fees vary by lender and loan type, and they generally fall into three categories:

  • Origination fees, charged to process and underwrite the loan
  • Late fees, charged if you miss a payment due date
  • Prepayment penalties, charged in rare cases for paying off the loan early

Origination fees can be a flat dollar amount or a percentage of the loan principal, often between 1% and 8% of what you borrow.

How are fees disclosed for loans through Upstart?

For loans through Upstart, any origination fee and late fee amount is listed on the loan offer itself, before you sign, so you can compare the total cost against other offers4. For example, on a $10,000 loan with a 7.25% origination fee ($725), you would receive $9,275 in your bank account but still owe the full $10,000 balance.

What should you compare before applying?

Fees change how much a loan actually costs you, even if the interest rate looks low. A loan with a lower rate but a high origination fee can cost more overall than one with a slightly higher rate and no fee. Before applying, check the full fee schedule, not just the advertised rate, including:

  • Origination fees
  • Late fees
  • Any prepayment penalty

Compare the annual percentage rate, or APR, across lenders since it combines the interest rate and most fees into one number. Ask each lender for a full breakdown of fees and the total cost of borrowing before you accept an offer.

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*This content is general in nature and provided for informational purposes only. This content is not specific to Upstart, except where explicitly stated. This content may contain references to products and services offered through Upstart’s credit marketplace. Upstart is not a financial advisor and does not offer financial planning services.

Upstart Network, Inc. (NMLS #936133) is not a lender. All loans on its marketplace are made by regulated financial institutions.

All mortgage lending conducted by Upstart Mortgage, LLC dba Upstart Home Lending. (NMLS #2443873). Equal Housing Opportunity.

  1. Checking your rate won’t affect your credit score: When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
  2. Upstart’s model considers education: Neither Upstart nor its lending partners have a minimum educational attainment requirement in order to be eligible for a loan.
  3. One business day: If you accept your loan by 5pm ET (not including weekends or holidays), your funds will be sent on the next business day. When the funds will be available to you will depend on your bank’s transaction processing time and policies.
  4. APRs from 6.2% – 35.99%, with 3 or 5 year terms: The full range of available rates varies by state. The lowest rates are only available to the most qualified applicants. 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 17.50% and a 7.25% origination fee of $725, for an APR of 21.23%. In this example, the borrower will receive $9275 and will make 60 monthly payments of $252. APR is calculated based on 5-year rates offered in March 2026. 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.
  5. 2,500+ Variables: As of 3/31/2026. “Variables,” often also referred to as “features,” refers to raw variables and combined variables considered in our AI models. A “raw” variable is a non-combined, conceptually distinct unit of data, such as “applicant-reported savings.” A “combined” variable is data that has been transformed, combined, or otherwise engineered from a raw variable or set of raw variables, such as “applicant-reported savings” divided by “loan amount.”
  6. Fully automated loans: In Q2 2026. Percentage of Loans Fully Automated, which is defined as the total number of loans in a given period originated end-to-end (from initial rate request to final funding for personal loans and small dollar loans, and from initial rate request to signing of the loan agreement for auto loans) with no human involvement required by the Company divided by the Transaction Volume, Number of Loans in the same period.