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Upstart Personal Loans review: rates, fees and more

Wondering if the Upstart Personal Loan is the right choice for you? Get all the details in our comprehensive review. This post will cover rates, terms, and more! Read on and find out!

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Upstart Personal Loans: multiple loan options and fast funding

Upstart logo
Find out more about this lender in this Upstart Personal Loans review. Source: The Insider Advisor

If you’re like most people, when something unexpected comes up, you may need to borrow money. Find out how to get this money in this Upstart Personal Loan review.

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Upstart Personal Loans: how to apply

Read on to learn how to apply for the Upstart Personal Loans. This lender delivers simple and fast applications! Get pre-approved in minutes!

Here, we’ll look at this lender’s main features to help you decide whether it is the right option! Keep reading and learn how to get the money you need from this lender.

Credit ScoreAll types of credit;
Loan PurposeDebt consolidations; credit card consolidation, wedding, moving and medical expenses, home repairs, and more;
Loan Amounts$1,000 to $50,000;
APR5.60% to 35.99%;
Terms3 or 5-year terms;
Origination FeeSee terms;
Late Fee5% of the past due amount or $15, whichever is greater;
Early Payoff PenaltyNone.

Upstart Personal Loans review: what you need to know

Upstart Personal Loans is an online lender that provides fast access to cash for anyone who needs it! Different from traditional lenders, Upstar uses artificial intelligence to qualify borrowers.

This lender allows borrowers to use their loans for multiple purposes, including debt consolidation, weddings, moving and medical expenses.

Also, home repairs, and even refinancing student loans.

With personal loans ranging from $1,000 to $50,000, Upstart only offers three of five years terms to its borrowers. Also, the interest rates vary from 5.60% to 35.99%.

Also, borrowers might have to pay some fees to this lender. Hence, a late fee of 5% of the unpaid amount, or $15. However, they do not charge a prepayment fee.

With only unsecured loan options available, this lender delivers fast funding and free financial education to its clients.

Upstart Personal Loans main features

Woman using her cellphone, working from home office
Compare the pros and cons of the Upstart Personal Loans. Source: Freepik

With so many lender options available on the market, Upstart Personal Loans can stand out for its convenience and fast funding.

Nevertheless, knowing the main features of this lender before making a decision is fundamental!

Below, compare the advantages and disadvantages of Upstart Personal Loans!

Pros

  • Accessible to lenders with all types of credit;
  • It delivers fast funding;
  • Allows clients to customize their payment date;
  • You can prequalify with a soft credit check;
  • Upstart provides free financial education.

Cons

  • This lender might charge an origination fee;
  • No co-signer, joint, or secured loans are available;
  • This lender has only two repayment terms.

Credit score required to apply

One of the main benefits of Upstart Personal Loans is its qualification requirements. So if your credit score stops you from applying for this lender, don’t worry.

Borrowers with all types of credit are welcome to apply. Furthermore, Upstart will consider your education and employment, for example.

So you might qualify for a personal loan with bad credit.

Upstart Personal Loans application process: how does it work?

The Upstart Personal Loans application process is simple. Customers can prequalify without credit damage and compare multiple offers before applying.

Are you interested in learning more about this lender’s application process? Great! The next article will explain everything you need to know. Keep reading for more information!

Upstart logo

Upstart Personal Loans: how to apply

Read on to learn how to apply for the Upstart Personal Loans. This lender delivers simple and fast applications! Get pre-approved in minutes!

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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