Upgrade and Fifth Third are both reputable financial institutions that offer affordable personal loans to customers with good to excellent credit. While both companies provide competitive products and features, your personal needs will ultimately determine which loan between the two will be the most beneficial to your finances.

Upgrade vs. Fifth Third at a glance

Upgrade Fifth Third
Bankrate score 4.7 4.6
Better for Fast funding Flexible payments
Loan amounts $1,000-$50,000 $2,000-$50,000
APRs 8.49%-35.99% 8.74%-21.49%
Loan term lengths 24-84 months 12-60 months
Fees •Orgination fee: Up to 9.99%
•Late fee: Up to $10
•ACH or returned check fee: $10
Minimum credit score 600 Not specified
Time to funding As soon as the next business day As soon as the next business day

Upgrade personal loans


  • Low credit minimums.
  • Direct payment to creditors for consolidation loans.
  • Joint applications available.


  • High origination fees.
  • High APR range.
  • Late fee.

Upgrade personal loans can be used to consolidate debt, refinance credit card debt, expense a large purchase and fund a home improvement project or renovation.

What makes Upgrade stand out from the rest is its fast funding timeline as well as its simple and streamlined online application. While some lenders do offer same-day funding, they cater to those with good-to-excellent credit. Upgrade serves customers across the credit spectrum, including those with less-than-stellar or poor credit.

Fifth Third personal loans


  • Can apply online and in-person.
  • Flexible first payment.
  • No origination fee.


  • In-person application required for loans over $25,000.
  • Not available in every state.
  • Higher minimum APR.

Fifth Third is a national bank that offers its customers personal loans up to $50,000. Borrowers can apply both online and in-person; however, those applying online are only eligible for $25,000.

Borrowers looking for a larger loan over $25,000 will need to visit a brick-and-mortar location and apply in-person. Plus, Fifth Third allows its customers to pick their first repayment date up to 45 days after disbursement.

How to choose between Upgrade and Fifth Third

Both lenders have competitive products and unique benefits. Here’s what you need to know about Upgrade and Fifth Third before making a decision.

Upgrade has low credit minimums 

Upgrade has one of the most credit-inclusive models in the industry when it comes to funding timelines. While most lenders require at least a good credit score to reap the benefits of fast funding, Upgrade allows borrowers with fair credit to take advantage of same-day funding.

Fifth Third has payment flexibility 

Along with offering a first payment date flexibility, Fifth Third also has a grace period of 10 days before a payment is considered late, making it easier to avoid extra interest charges.

Keep in mind that with the payment flexibility, borrowers don’t need to choose a date until 24 days after disbursement. However, interest will continue to accrue so you’ll still have to recoup the cost for the days you didn’t make the payment.

Compare lenders before applying

Before signing on the dotted line, it’s important to compare as many lenders as possible. Compare at least 2 other lenders to ensure you’re getting the most competitive rate possible.

If offered, use prequalification to check your approval odds and potential interest rate. It won’t impact your credit score like an application does and is a free tool offered by most lenders. Prequalification is the best way to research and compare lenders before making a final decision.