Are Upstart Personal Loans for You? See Our Full Review

upstart personal loans

If you’re in need of cash, one option you may have considered is getting a personal loan.

Personal loans are “unsecured” loans that offer a lump sum payment. These loans are not backed by any collateral like a car or home, hence the “unsecured” designation, and are often used for things like credit card consolidation, home repair, and more.

The beauty of personal loans is that your reason for taking one out is, well, personal. Read more about Upstart personal loans to find out if they’re the right lender for you.

Upstart review: Personal loans

With so many personal loan lenders on the marketplace, it’s hard to cut through the noise and get a feel for a company and their offerings. Upstart personal loans offer a refreshing angle and pride themselves on being customer-focused.

The Upstart company was founded by ex-Googlers, and aim to offer “fair and fast personal loans.” But what does that actually mean?

In most lending decisions, your credit score is king. You’re more than just a number, but for many lenders, those three digits can make or break their decision to lend to you.

Upstart personal loans are different because they look at a number of factors when deciding to approve you for a personal loan.

For example, they take into consideration your job history, area of study, and education to produce a well-rounded picture of you as a borrower.

Shop smarter with personalized loan rates from multiple banks

Compare custom personal loan rates the easy way, all without affecting your credit. COMPARE MY RATES

upstart personal loans review

About Upstart personal loans focuses on personal loans. Personal loans can be used for a variety of reasons, but are often touted as useful tools for credit card consolidation since their interest rates are comparably lower.

In other words, you can pay off your credit card balance with a personal loan, and save money on interest with new and improved terms.

Once you arrive on the homepage of, you can select why you want a personal loan. They offer a number of reasons, including paying off credit cards, renovating your home, making a large purchase, and more.

Using the Upstart online platform

Upstart offers quick and easy access to personal loans. According to their website, you can get “a smarter loan in 3 quick steps.”

Step 1: You can check your rate in 2 minutes. Answer a few questions about yourself such as your education, job title, and annual wages.

Step 2: Review the terms and conditions and accept your loan offerings. If your application is approved, you can check your rates as well as any fees.

Step 3: Work to repay your loan. You can sign up for automated monthly payments.

Visit Upstart

Upstart interest rates and fees

If you’re applying for a personal loan with Upstart, the interest rates and fees vary depending on your application.

After all, lenders must assess risk based on your creditworthiness and charge accordingly. In other words, if you have killer credit, you can expect better rates. Not-so-hot credit? You’ll probably pay more. But as noted above, they do look at other aspects of your application as well.

There is an origination fee for taking on the personal loan, which varies from 2.8 percent to 6 percent. However, there are no prepayment penalties for paying off your personal loan early. Of course, what you are ultimately approved for will depend on your specific application and profile.

Upstart eligibility requirements

To qualify for Upstart personal loans, you need to be a US citizen or permanent resident. You must also currently live in the US.

Unfortunately, residents of West Virginia are not eligible for Upstart personal loans. Additionally, you must be 18 years of age, though you must be 19 years old if you live in Nebraska or Alabama.

As part of your application, you will need a valid email address, name, date of birth, and social security number. You also need your routing number from a US financial institution.

On the job front, you must have a full-time job or one lined up within six months, a part-time job, or some form of consistent income to show that you can pay back your personal loan.

When it comes to credit, you’ll need a minimum FICO score of 620. Additionally, Upstart will look at your debt-to-income ratio as well as any negative marks on your credit history, such as bankruptcy.

Upstart customer service

The Upstart company has their customer service team based in Silicon Valley. Their hours are 6 a.m. to 5 p.m. PT every day.

Additionally, you can visit the Help Center, which empowers borrowers with answers to their most pressing questions. Users of Upstart personal loans tend to rate the company with high marks.

More about Upstart

Based in Silicon Valley, was founded in 2012 with the core belief that borrowers are more than their credit score.

According to their website, “Our proprietary underwriting model identifies high-quality borrowers despite limited credit and employment experience.”

Looking at the bigger picture gives Upstart personal loans a unique lending model. Not only that, but they boast an impressive roster of investors, including Mark Cuban, owner of the Dallas Mavericks, and Marc Benioff, founder of Salesforce.

More than 38,000 Upstart personal loans have been generated since the beginning of October 2016, so they’re growing quickly.

Upstart contact information

In order to contact Upstart about any questions you may have, you can call 650-204-1000 (local) or 1-855-438-8778 (toll-free) between 6 a.m. and 5 p.m. PT.

If you have concerns or need additional support, you can reach a customer service representative at

For snail mail, you can send your letters and documentation to:

Upstart Operations Dept.
P.O. Box 1503
San Carlos, CA 94070

You can also follow along on social media on Facebook and Twitter.

Visit Upstart

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (
  2. Personal LoansFixed rates from 5.49% APR to 14.24% APR (with AutoPay). Variable rates from 4.98% APR to 11.44% APR (with AutoPay). SoFi rate ranges are current as of December 21, 2017 and are subject to change without notice. Not all rates and amounts available in all states. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 4.98% APR assumes current 1-month LIBOR rate of 1.34% plus 3.89% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 5.99% – 16.24% (5.99% – 16.24% APR) based on applicable terms and presence of a co-applicant. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7.39% - 29.99%$1,000 - $50,000
Check rate nowon SLH's secure site
4.98% - 14.24%1$5,000 - $100,000
Check rate nowon SLH's secure site
8.00% - 25.00%$5,000 - $35,000
Check rate nowon SLH's secure site
5.99% - 16.24%2$5,000 - $50,000Visit Citizens
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.25% - 14.24%$2,000 - $50,000Visit Earnest
Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.