- APR Range: 7.80% - 35.99%
- Loan Amount: $1,000 - $50,000
- Loan Terms: 36 months - 60 months
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- Why We Chose It
If your income has held you back from getting a personal loan, Upstart might be right for you. There’s no minimum credit score required to qualify.3 You either must have a credit score or have graduated from or are currently enrolled in a higher education program.4 This makes Upstart the best choice for borrowers with poor credit.
Another benefit of getting a loan through Upstart is the lender’s competitive interest rates. The maximum interest rate is on the higher end—though it's on par for bad credit loans— but its minimum credit score is lower than any other lender we considered.
Upstart charges a late fee of 5% of the payment or $15, whichever is greater, if your payment is not received by 15 days after the due date.
Originally founded in 2012, Upstart is headquartered in San Mateo, California, and has offices in Columbus, Ohio; and Austin, Texas.
No minimum credit score
Low minimum APR
Funding the next business day
Origination fee as high as 12%
Limited range of repayment terms
Charges late fees
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