UpStart Review

UpStart is one of the online personal loan sites that is trying to incorporate new qualification criteria when it comes to approving applicants. If you are a recent college graduate (within the last 4 years), UpStart will take your academic performance into account.

UpStart: Overall

Best for: Recent graduates who did well in school.

Pros: Straightforward application process, fast deposit.

Cons: Lower loan maximum than other online personal loan sites.

UpStart: Rates and Fees

UpStart’s rates fluctuate depending on your credit and other factors that it uses to determine your eligibility.

  • APR: 5.67% to 29.99%
  • Interest Rate: 5% to 25.26%
  • Origination Fee: 1% to 6%
  • Late Fee: Greater of $15 or 5%
  • Check Processing: $15

UpStart: Loan Amounts

The most you can borrow from UpStart is $25,000, while the least you can borrow is $3,000.

UpStart: Qualifications

Unlike other online personal loan providers, UpStart will take into consideration your academic records if you have graduated college within the last 4 years. In addition to that, UpStart requires that you be 18 years old, have proof of a source of income, a low debt-to-income ratio and at least an Average credit score.

UpStart: Loan Process

UpStart’s application process is pretty straightforward. Since they don’t rely on individual investors, you can be approved for a loan pretty quickly. First, you have to fill out a basic application that includes personal and financial information. UpStart will then review your application and let you know if you qualify for a loan and what your interest rate will be. If you qualify, you continue with the application process, which requires additional financial information. Once your application is complete, UpStart will notify you if you’ve been approved for the loan or not, and if you accept, the loan amount will be transferred to your back account the next day.

UpStart: Partial Loans

UpStart does not offer partial loans. If you are not approved for the loan amount you originally asked for, you can apply for smaller loan amount later.

UpStart: User Reviews

  • Overall
  • Rates and Fees
  • Loan Amounts
  • Qualifications
  • Loan Process
  • Partial Loans


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