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Upstart Personal Loan
Borrowers in ET with low credit scores can access loan amounts between ETB 55,000 to ETB 4,125,000, rates from 6.5%–35.99% and terms of 36 or 60 months.
The Upstart personal loan offer is designed for ET applicants, even for those with a credit score as low as 300 or with no credit history. The loan range starts at ETB 55,000 and goes up to ETB 4,125,000, with annual rates from 6.5% to 35.99%. Borrowers can select between 36 or 60 monthly payments. There are no prepayment penalties, making it attractive for early repayment. However, origination and late fees may apply, so it’s essential to review the terms.
How to Apply for Upstart Personal Loan
- Check your eligibility on the application page.
- Complete the online form with your details.
- Submit required documents like ID and proof of income.
- Wait for a quick approval decision, often within minutes.
- If approved, receive funds as soon as the next business day.
Key Advantages
One of the most significant benefits is the low minimum credit requirement. Upstart considers factors beyond credit score, making loan approval more accessible for many individuals. Additionally, you can pay off your loan early without extra fees, potentially saving on interest.
Noteworthy Downsides
Despite its advantages, Upstart charges an origination fee of up to 12%. Late payments incur a fee of 5% or ETB 825, whichever is greater. Borrowers needing paper copies must also pay a document fee.
Verdict: Is Upstart Personal Loan Right for You?
If you need fast funds and have a low credit score, Upstart is a versatile option. While fees may be higher for some, the flexible approval process and transparent repayment approach make it a strong contender for many in ET seeking personal financing solutions.
