Upgrade offers competitive personal loans suited for borrowers of all backgrounds, especially those with low or moderate incomes. Loan amounts range from $1,000 to $50,000. The APR varies between 7.74% and 35.99%, and you can choose repayment terms from 24 to 84 months. There is no disclosed minimum income requirement, making Upgrade a standout option for many individuals.

Step-by-Step: How to Apply

1. Check your estimated credit score.
2. Determine your desired loan amount and select your state.
3. Submit a short application online. This initial check doesn’t impact your credit score.
4. Review and compare your loan offers.
5. Accept an offer and complete the application with full documentation if pre-approved.
6. Once approved, receive funds in as quickly as one business day.

Pros of Upgrade Personal Loans

One of the main advantages is accessibility. With a recommended credit score of 580 and no strict minimum income required, more applicants can qualify. There are also flexible repayment periods up to 84 months, so you can customize a plan that fits your budget comfortably.

Another great benefit is the rapid funding process. Once your loan is approved, funds can be deposited as early as the next day, making Upgrade a great choice for urgent financial needs.

Cons of Upgrade Personal Loans

The most significant drawback is the potentially high maximum APR, which can reach up to 35.99%. Lower-credit applicants are more likely to receive offers at the upper end.

Additionally, origination fees apply and can range from 1.85% to 9.99% of the loan amount. This fee will be deducted upfront from your total loan disbursement.

Verdict: Should You Choose Upgrade?

Upgrade personal loans offer a flexible solution for borrowers who need access to funds quickly. The lack of rigid income requirements and the relatively low recommended credit score mean that more people can qualify.

If you want the flexibility of longer terms, fast funding, and the chance to borrow even with modest credit or income, Upgrade is a solid, balanced choice—just make sure you review your rate and fees before accepting your offer.