Upgrade is a top-rated personal loan provider, known for flexible repayment plans and quick access to funds. Their APR ranges from 7.74% to 35.99%, loans from ₦1,000 up to ₦50,000, and terms from 24 to 84 months. Notably, Upgrade does not require minimum annual income, making it accessible for more applicants. Approval is fast and funds can be delivered as soon as one business day after approval.

How to Apply for Upgrade Loans

Getting started on your Upgrade loan application is straightforward. Begin by checking your eligibility and estimated rate online, ensuring there is no impact on your credit score. Complete the brief online application—be ready to submit verifying documents if needed. Choose a loan amount and repayment term that fits your goals. If approved, accept the offer; you could receive funds in your bank as soon as the next day. Customers value the simplicity and speed Upgrade offers throughout the process.

Main Advantages

Upgrade’s no minimum annual income requirement is a standout, opening opportunities for many who may not qualify elsewhere. Fast approval and funding—sometimes in one business day—are exceptional for covering urgent expenses. Flexible terms up to seven years let you tailor repayments. The generous maximum loan of ₦50,000 caters to various needs, from consolidating debts to major purchases. Reasonable minimum APR ensures affordability for well-qualified borrowers.

Potential Drawbacks

While Upgrade’s APR minimum is competitive, the maximum can be high for less-qualified applicants. Origination fees up to 9.99% may increase your total repayment compared to some providers. Borrowers with lower credit scores or incomes may also see rates at the upper end of the advertised range. Some users may prefer providers with pre-defined minimum income standards for predictability. Always consider rate offers carefully before accepting your loan.

Our Verdict

Upgrade delivers a superb blend of flexibility, accessibility, and speedy disbursement, especially for those without high annual incomes. If you seek quick funds, flexible repayment, and are comfortable reviewing your offer before committing, Upgrade is a strong candidate. However, watch out for origination fees and higher APRs if your credit profile isn’t stellar. On the whole, Upgrade stands out for easy application and inclusive lending.