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- Loan purpose:Personal Loan
- Credit Level:Poor (300-579)
- When funds are available:1 business day.
- Origination fee1.85 - 9.99%
- Early payment feeNo early payment fees.
- Late fee$10
- Returned check fees$10
Pros & Cons
- Fast funding**
- Wide range of loan amounts
- Accessible to most borrowers
- Origination fee
Be at least 18 years old (19 in some states).
- Requirements Description
- Be a U.S. citizen or a permanent resident
- Be at least 18 years old (19 in some states)
- Have a bank account where Upgrade can transfer the funds
- Have a valid email address
- Have some form of income
Check loans from other lenders
- 8.99 - 29.99 %APR
- 2 - 5 yearsLoan Term
- $5,000 - $40,000Loan Amount
- 8.3 - 36 %APR
- 3 - 5 yearsLoan Term
- $1,000 - $40,000Loan Amount
- 7.99 - 23.43 %APR
- 2 - 7 yearsLoan Term
- $5,000 - $100,000Loan Amount
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 8.49% - 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.