A smarter personal loan

Check your rate in 5 minutes

Won't affect your credit score!¹

FAIR & FAST PERSONAL LOANS

$1,000 - $50,000* | 3 & 5 year terms² | 6.95% - 35.99%²

NEXT DAY FUNDING

LOWER RATES

NO PREPAYMENT PENALTY

99% of applicants get money just 1 business day after accepting their loans⁴

10% lower rates than traditional models³

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

WHAT OUR BORROWERS SAY

UPSTART FAQ

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.

How long will it take to get my money?

If you accept your loan before 5pm ET Monday-Friday, your funds will be transferred on the next business day. If the terms are accepted after 5pm ET Monday-Friday, the funds will be transferred on the following business day. 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.

How much can I borrow?

You can borrow between $1,000 and $50,000§. Note, there are state-specific minimum loan amounts for some states and the exact amount you may borrow depends on what you qualify for based on your application information.

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, we will then make a "hard credit inquiry" 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.

What are the interest rates?

All Upstart loans offer a fixed interest rate, but individual rates are determined based on various factors including an applicant’s education history, work experience, and credit history. The range of rates offered vary between 8.27% - 35.99%.‡ The interest rate is only 1 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. When comparing loan products, it is important to consider the APR of each product.

1When 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 will be reported to the credit bureaus.


* Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100.


2 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 24.52% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.


3 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.


4 If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds 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.

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