Upgrade offers personal loans with flexible terms and generous loan amounts ranging from ETB 56,000 to ETB 2,800,000. Borrowers enjoy competitive interest rates from 7.74% to 35.99% APR, making it accessible even for those with bad credit scores. The application process is straightforward, with loan terms between 2 and 7 years, and funds can be received in as quickly as one business day.

How to Apply for an Upgrade Loan

Start by checking if you meet the eligibility requirements. Prepare documents like your ID, income proof, and banking details. Submit an online application and select your preferred loan amount and term. Review your loan agreement and accept the offer to have the funds deposited into your account.

Key Advantages of Upgrade

Upgrade provides rapid access to funds, often within one day, which is crucial for urgent financial needs. The lender also allows joint applications, so you can apply with a co-borrower to improve your chances of approval and better terms.

Another advantage is the rate savings for debt consolidation. Borrowers looking to pay off other debts can get direct payments to creditors and receive a rate discount, helping you save on interest.

Potential Drawbacks to Consider

Upgrade’s origination fees can be significant, ranging from 1.85% to 9.99% of your loan amount. These are deducted upfront from your proceeds. Also, the maximum APR can be high, particularly if your credit is at the lower end of the spectrum.

Late and returned payment fees may further increase your overall loan cost. Always review your agreement so you understand the full costs before accepting the loan offer.

Final Verdict: Should You Choose Upgrade?

Upgrade stands out as a flexible option for borrowers with less-than-perfect credit, offering quick approvals and transparent terms. If you need urgent cash and meet the criteria, it’s a strong choice. Be sure to review all fees and ensure the monthly payment fits your budget before you sign.