BEST FOR FAST FUNDING
Bankrate Rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
The annual percentage (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing.
Check rate with Bankrate
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-35.97%. 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/.
- Low minimum APR
- Allows joint applications
- Rate discount for checking account customers
- Origination fee
- Late fee and returned check fee
- High APR cap
WHO IT'S FOR
Borrowers looking for a small- to medium-sized loan.
WHY WE LIKE IT
Upgrade offers loans ranging from $1,000 to $50,000, with generous repayment terms of up to seven years. Once you’re approved for a loan and your information is verified, you could receive your funds within one business day.Lender perks:
- Borrowers can choose their payment date
- Loyalty and autopay rate discounts
- Prequalification available
- 15-day grace period
Time to receive funds:
- Origination fee of 1.85% to 9.99%
- Late payment fee of up to $10
- $10 returned check fee
Next business day after approval.Requirements:
- Lender verifies your overall financial health.