Best Personal Loans from Upgrade of December 2024

Upgrade offers personal loans. The APR for Upgrade personal loans starts from 9.99% while the amount you can get varies from $1,000 to $50,000. You can apply for a Upgrade personal loan of up to 60 months. See all the terms to decide if Upgrade is the right lender for you.

Upgrade
By Hanna Volkava
Updated December 04, 2024

See all Upgrade personal loans in December 2024

Showing 5 loans
APR
9.99 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 9.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

** Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one (1) business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

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On partner's site
APR
9.99 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 8.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Debt Consolidation Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

Eliminate high-interest debt and credit card payments with a lower rate.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 35.99%. All personal loans have a 1.85% to 8.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

Read full review

See Upgrade full product review
Check rates
On partner's site
APR
9.99 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 8.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Home Improvement Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Get the funds you need to remodel, repair, or build the home you want without the hassle of refinancing or taking out a home equity loan.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 35.99%. All personal loans have a 1.85% to 8.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

Read full review

See Upgrade full product review
Check rates
On partner's site
APR
9.99 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 8.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Major Purchase
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 35.99%. All personal loans have a 1.85% to 8.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

Read full review

See Upgrade full product review
Check rates
On partner's site
APR
9.99 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 8.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 35.99%. All personal loans have a 1.85% to 8.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

Read full review

See Upgrade full product review
Check rates
On partner's site
For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.
Check rates
On partner's site

Check Upgrade personal loan rates

scorer
APR Range
9.99 - 35.99%
scorer
Loans
up to $50,000
scorer
Terms
up to 60 months
scorer
Score required:
Poor (300-579)
scorer
Loan purposes:
Personal Loan, Debt Consolidation Loan, Home Improvement Loan, Major Purchase

Information about lender

  • Organisation:
    Upgrade, Inc
  • Website:
  • Headquarters:
    275 Battery Street, San Francisco, CA 94111

Upgrade Personal loans Pros&Cons

Pros:
  • Low rates. Upgrade APRs start at 5.94% for best-rated borrowers and offer a discount for setting up autopay.
  • No minimum credit requirement. Upgrade doesn’t impose strict minimum credit requirements. Loans could be accessible to borrowers with a fair credit score or better.
  • Fast funding. You can get approved and receive funding within a day. That's great if you need money within a short call.
  • Reports to three major credit bureaus. Upgrade reports to all three major credit bureaus — Experian, Equifax, and TransUnion. That makes building credit easier.
  • Joint applications. You can add a co-borrower to improve your chances of qualifying for a loan.
  • Direct payments on existing debt. Upgrade offers direct payments to lenders on debt consolidation loans.
Cons:
  • Origination fee. Upgrade charges an origination fee of 2.9 - 8%.
  • Other fees. Late payment fee up to $10 after 15 days, and failed payment fee of $10. These can quickly add up and increase the cost of borrowing if you run into financial hardships.

Check loans from other lenders

LightStream
LightStream
Personal Loan
5 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 5.99 - 21.49 %
    APR
  • 2 - 6 years
    Loan Term
  • $5,000 - $100,000
    Loan Amount
Check rates
On partner's site
Marcus by Goldman Sachs
Marcus by Goldman Sachs
Personal Loan
4.13 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 6.99 - 24.99 %
    APR
  • 3 - 6 years
    Loan Term
  • $3,500 - $40,000
    Loan Amount
Check rates
On partner's site
Upstart
Upstart
Personal Loan
3.77 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 5.6 - 35.99 %
    APR
  • 3 - 5 years
    Loan Term
  • $1,000 - $50,000
    Loan Amount
Check rates
On partner's site

Upgrade Review

Online lenders are popular alternatives to banks, credit unions, and other traditional lenders. These fintech companies use technology to offer personal and business loans directly without visiting a physical financial institution. Fintech lenders are reputed for their simple application process and faster approval period. In this article, we will review Upgrade — an online lending company that offers personal loans.

Upgrade entered the online lending scene in 2017. The lending platform aims to help borrowers reduce fees and build solid credit history with low-cost Upgrade financial products. They offer personal loans between $1,000 - $50,000 with APRs ranging from 9.99 - 35.99%. Once you qualify and get approved, you’ll get funded within 1 - 4 days.

Loans feature repayment terms of 3 - 5 years. The good thing is, Upgrade doesn't charge a prepayment fee. So you can pay your loan sooner than the original loan term at no extra costs.

Upgrade Loan Types

Common types of Upgrade personal loans include:

  • Refinance Credit Card Loans. You can get a personal loan from Upgrade to eliminate high-interest credit card debt at a lower rate, with a fixed monthly payment, and clear payoff date.
  • Debt Consolidation loans. If you have multiple loans (credit cards, medical bills, etc.), it might help to combine all your debts into one. Instead of making multiple payments to different lenders, you can structure and streamline repayments with a single monthly payment. You could be eligible for a lower rate with direct payments to creditors on your debt consolidation loans.
  • Home improvement loans. Upgrade offers personal loans to finance home improvement projects. You can choose from customized fixed rate options that fit your budget and use the proceeds for all types of home improvement projects.
  • Large purchase loans. Not everyone has out-of-pocket money for large purchases. A Large Purchase loan from Upgrade can help cover major furniture upgrades and home appliance purchases.
  • Other loans. Upgrade also offers many other types of specialized personal loans like Dental Loans, Pool Loans, Vacation Loans, Medical Loans, and loans to cover sudden expenses or plan special occasions.

Loan specifications

You can apply for the following types of loans: refinance credit card, debt consolidation, home improvement, large purchase, other loans.

APR9.99 - 35.99%
Amount$1,000 - $50,000
Term3 - 5 years
Origination fee1.85 - 9.99%

As you can see from the table the maximum loan amount is $50,000, and the APR starts at 9.99% for the best graded borrowers. The loan period varies from 3 to 5 years.

Upgrade Personal Loans: Pros & Cons

Pros: Cons:
Low rates. Upgrade APRs start at 9.99% for best-rated borrowers and offer a discount for setting up autopay. Origination fee. Upgrade charges an origination fee of 1.85 - 9.99%.
No minimum credit requirement. Upgrade doesn’t impose strict minimum credit requirements. Loans could be accessible to borrowers with a fair credit score or better. Other fees. Late payment fee up to $10 after 15 days, and failed payment fee of $10. These can quickly add up and increase the cost of borrowing if you run into financial hardships.
Fast funding. You can get approved and receive funding within a day. That's great if you need money within a short call.
Reports to three major credit bureaus. Upgrade reports to all three major credit bureaus — Experian, Equifax, and TransUnion. That makes building credit easier.
Joint applications. You can add a co-borrower to improve your chances of qualifying for a loan.
Direct payments on existing debt. Upgrade offers direct payments to lenders on debt consolidation loans.

Applying for an Upgrade loan

General Upgrade lender requirements include:

  • U.S. Citizenship or permanent residence
  • At least 18 years old
  • Verifiable bank account and email address
  • Upgrade doesn't disclose minimum FICO score or debt-to-income ratio. Eligibility depends on Upgrade’s evaluation of your income, credit history, and other factors.

You can start the application by choosing your loan amount and loan purpose. You'll be required to provide basic personal information and your annual income details. Additionally, you would need to enter your email address and password to create your Upgrade account and sign in to see loan offers. At this point, Upgrade performs a soft credit pull, which doesn’t affect your credit score, and provides a range of eligible loan offers and loan terms you can choose from.

Once you select a suitable loan offer, Upgrade will perform a hard inquiry on your credit to complete the application process. Upgrade may request more information or documents before final approval. Self-employed applicants will be required to provide tax returns for two years, bank statements, form 1040 Schedule C, etc. So keep an eye out on your accounts To-Do List.

Conclusion

Upgrade offers personal loans at competitive rates to borrowers with fair credit or better, who need funds quickly. The lender doesn't charge prepayment fees, so you can pay your loan sooner and save money on interest rates. Plus, Upgrade reports loan activities to the three major credit bureaus, which helps you build credit faster.

That said, borrowers have to contend with an origination fee of 1.85 - 9.99% and late payment fees or failed payment fees. So make sure you can make on-time payments.

FAQ

What is the Upgrade customer service number?

The Upgrade customer service number is (844) 319-3909.

Is Upgrade loan legit?

Yes, Upgrade is a legit online lender headquartered in San Francisco and has offices in Chicago, Phoenix, and Montreal.

Does Upgrade offer business loans?

No. Upgrade offers personal loans only. Though you can choose «Business» as one of their loans' purposes, you'll be directed to Fundera, an online lender that offers business financing.

What is the Upgrades minimum credit score requirement?

Upgrade doesn't disclose a minimum credit score for its loans. Based on the information from third-party sources funds could be accessible to borrowers with at least fair credit.