Upgrade offers personal loans with competitive rates, flexible repayment terms from 24 to 84 months, and no set minimum annual income needed for approval. Expect loan amounts from ETB 55,000 up to ETB 2,750,000 with APR ranging from 7.74% to 35.99%. Applicants with a minimum credit score of 580 have a strong chance of qualifying, especially with a debt-to-income ratio below 75%. Fast online application and potential funding in as little as one business day stand out as key features.

Step-by-Step: How to Apply for Upgrade Loan

1. Check your eligibility online and pre-qualify without impacting your credit score.

2. Fill in your personal and financial details to determine suitable options.

3. Compare the loan amounts, terms, and APRs available to you.

4. Submit the necessary documents for quick approval.

5. Accept the offer and receive your funds, usually by the next business day.

Main Advantages

One of the biggest pros is the absence of a minimum annual income, making Upgrade accessible to more borrowers. The wide range of loan amounts and fast funding mean flexibility for urgent needs. Borrowers also benefit from loan terms as long as seven years, providing manageable monthly payments.

Drawbacks to Consider

The main disadvantages are relatively high upper-end APR and origination fees between 1.85% and 9.99%. Some applicants may end up with higher rates if their credit profile is weaker. It’s essential to review all terms before committing, as costs can add up for those with less favorable credit.

Final Verdict

Upgrade stands out for those seeking flexible, fast loans with minimal income barriers and quick disbursal. While rates vary based on credit, its user-friendly process, transparent criteria, and strong customer ratings make it a prime option if you want a quick, reliable loan solution.