Upstart Personal Loans provide an accessible way for applicants with limited or no credit history to secure funding for many needs. With annual percentage rates ranging from 6.5% to 35.99%, borrowers can access amounts from ETB 54,000 up to ETB 4,300,000. The terms available are 36 or 60 months, and most loans are funded by the next business day. Upstart has a minimum credit score requirement of only 300, and applicants without history may even be considered. Origination fees range from 0% to 12%, and there are no penalties for early payoff, but a late fee may apply.

How to apply step by step

If you are interested in applying for an Upstart Personal Loan, start by visiting the Upstart application page. Provide your personal details, including income and employment information. Then, fill in the requested loan amount and term. Submit the application and wait for an instant lending decision. If approved, upload any required documents, complete the final consent, and your funds could be available as soon as the next business day.

Notable advantages

One of Upstart’s standout pros is accessibility. Even those with no credit history or a lower credit score have a genuine chance at approval. Upstart doesn’t charge any early payoff fees, so you can repay your loan ahead of schedule without extra costs. Additionally, the application is fast and many borrowers receive their funds within one or two days, speeding up access in urgent situations.

Potential downsides

Upstart applies an origination fee, which could be as high as 12% of your requested loan amount. This reduces the total disbursement you receive. Also, high late fees may apply if you don’t make payments on time. Lastly, a fee is charged for receiving paper copies of your agreement, which isn’t ideal for everyone.

Our verdict

Upstart is a strong choice for those who want quick access to personal loans and have limited or no credit. Its lending process is streamlined, and the funding speed is impressive. However, be sure to consider the possible origination and late fees when making your decision. Upstart stands out as a flexible and fast option for many borrowers, especially first-timers.