Upstart Review

Is this the loan company for you?

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  • Funding fast after loan approval
  • Considers more than just credit


  • Loans not available in all states
  • Limited personal loan term lengths

What You Need to Know

After Upstart loan approval, the money transfers into your account quickly. How fast the money transfers depends on your loan approval and your bank. The money can be in your bank account in as soon as one business day. Educational loans typically take three business days to fund.

To apply for a loan, you must meet the credit requirements. But Upstart also considers the level of your education and your field of study. They look at your current employment and employment history as well. These other considerations may help you qualify for one of Upstart's loans.

Upstart loans are not available in all 50 states. They currently do not offer loans in Iowa or West Virginia. If you live in Alabama or Nebraska, you must be 19 years old to apply for a loan with Upstart. The lowest required amount for a loan varies by state.

Upstart only offers two term lengths for their loans. Your loan term can be either a three-year or a five-year loan. They offer loans for home improvements, debt consolidation, and other events. Upstart personal loans are available in these two term lengths.

Qualifications to Apply for Upstart Loans

Useful Information About Upstart Loans

History and Achievements

Upstart started in May of 2014. Upstart does not just look at credit score and history. They also consider education and employment. Upstart tries to paint a full picture of their customers, and their ability to pay off a loan.

In 2017, Upstart experienced close to three times the growth in the company. They have over $4 billion in loan originations. As of September 1, 2019, over 344,000 loans have been originated with Upstart.

Frequently Asked Questions

Can I apply for a loan entirely online?

Yes. The Upstart loans are entirely online.

What is the lowest my credit score can be?

Your credit score must be at least 620.

What is the smallest loan amount available?

The minimum loan amount with Upstart is $1,000.

What is the largest loan amount available?

The maximum Upstart loan amount is $50,000, if you qualify.

What are the loan term lengths?

There are two Upstart term lengths. Those are three-years and five-years.

Are the interest rates competitive?

The interest rates range from 5.59% to 35.99%. These rates are competitive with other online lending companies. The interest you receive will depend on your qualifications.

Are the interest rates fixed?

Yes. Upstart offers fixed interest rates for the life of the loan.

What types of loans are available?

Upstart offers personal, debt consolidation, and home improvement loans. They offer loans for medical reasons, weddings, and moving expenses.

What information do I need to apply for a loan?

Upstart requires personal information, level of education, credit history, and debt-to-income ratio. Also required are a valid email, bank account, and a valid social security number. You cannot have any bankruptcies, public records, or delinquent accounts on your record. Upstart may need other information to complete the application.

How long does approval take?

Upstart approval times are not listed on the website.

How long will it take the money to enter my account after approval?

Once your Upstart loan is approved, you can receive your money in one business day. Receiving your money may take longer, depending on your bank and application.

If I have been denied a loan before, how long do I have to wait to apply again?

Upstart requires customers to wait 30 days before reapplying. You must also use a different email address to reapply.

What are the payment options to repay my loan?

Make payments through ACH transactions or with checks. Payments are due monthly or twice monthly. There are no fees for paying your loan off early or making extra monthly payments.

Can I pay my loan off early?

Yes. Upstart does not charge a fee for paying your loan off early.

Is my information secure?

Upstart maintains physical and electronic safeguards. Their procedures comply with federal laws. Their building and files are secure. Employees can only see the necessary personal information.

Does this loan company offer a mobile app?

Upstart does not list an app on the website.

How do I contact customer service?

Through phone, email, or mail. Customer service is open Monday-Friday from 6 a.m. to 5 p.m. PST. Weekends they are available from 9 a.m. to 5 p.m. PST. You can follow Upstart on Facebook and Twitter.

Bank Contact Information

P.O. Box 1503
San Carlos, CA 94070