Upstart is very clear about what is required to obtain a personal loan.
Loan Requirements
- A minimum credit score of 300.
- A credit score must be maintained between loan acceptance and fund receipt.
- No delinquent account
- Less than six credit report enquiries in the past six months. This does not include inquiries relating to mortgages, student loans, or vehicle loans.
Loan Terms
- Typical APR rates range from 5.6% – 35.99% (see Upstart’s homepage for the latest rates, subject to state restrictions)
- A personal loan amount ranges from $1,000 – $50,000 (varies by state, see website for state-specific ranges)
- No prepayment fees
- Upstart has a late payment grace period of 15 days.
- 0%-8% origination fees
- Some states have a minimum loan amount. For example, GA is $3,100, and MA is $7,000.
Repayment Terms
- 36 – 60 months