Upstart vs OneMain Financial 2022

This online lender looks at multiple factors, including your education and work experience’s rating: 4.1 / 5.0


Bottom line: For many borrowers, Upstart’s nontraditional underwriting criteria may make it easier to get approved for funding. However, it can be a pricey option for borrowers who just meet its minimum requirements.



Available in 49 states and Washington, D.C. Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, DC Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin Wyoming

What interest rates and personal loan terms does Upstart loans offer?

Upstart loans has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Upstart loans offer?

Upstart loans offers a fixed APR personal loan product that ranges from 6.53% APR up to 35.99% APR.

What is the maximum loan term you can get with Upstart loans?

Upstart loans offers loans with terms of up to 60 months.

Upstart loans Interest Rates & Loan Terms
Personal Loan Amount $1000 – $50000
Loan Term 36 – 60 months
APR 6.53% – 35.99%


The origination fee for this loan is 0% to 8% of the loan you are approved for. One drawback of this loan is that this fee is automatically withheld from the loan before it is delivered to you.

Upstart charges a late fee that is either 5% of the amount that is past due or $15, whichever is greater.

If you request paper copies of your loan agreement you pay a $10 fee, but virtual copies are free.

There are no early payoff penalties with Upstart loans.

Who Qualifies for an Upstart Personal Loan?

Although Upstart’s unique underwriting may improve your chances of getting a loan, make sure you meet the following borrower and credit eligibility requirements.

Minimum borrower requirements:

  • Be a U.S. citizen or permanent resident living in the U.S. with a verifiable Social Security number (active-duty service members can live outside the U.S.)
  • Be at least 18 years old, or at least 19 if you live in Alabama or Nebraska
  • Have a valid email account and personal U.S. bank account
  • Have a regular source of income, such as a part- or full-time job; have an offer to start a job within six months; or have been accepted to one of the partner coding bootcamps

If you are a current or previous Upstart borrower, you may qualify for a second loan if you’ve made at least six consecutive payments on time and don’t have more than $50,000 in outstanding debt.

In addition to the borrower requirements, you need to meet some credit requirements, including:

  • Have a FICO® Score or VantageScore® that meets lender requirements (if you’re scorable)
  • No bankruptcies on your credit report
  • No currently past-due accounts on your credit report
  • No more than six hard inquiries on your credit report (inquiries from student, auto and mortgage loans don’t count)

Even if you get preapproved for a loan offer, Upstart will check your credit before sending your loan and may revoke the offer if it finds your credit score drops by more than 25 points or you no longer meet the requirements.

What can personal loans through Upstart be used for?

  • Debt consolidation: Are you juggling multiple credit cards with high interest? Consolidate into one payment with a fixed-rate loan.
  • Special purchases: Use a personal loan to finance a new car, wedding, vacation, piece of art/jewelry, etc.
  • Personal expenses: Secure funds for a move, medical procedure, tax penalty, funeral arrangements, etc.
  • Education: Pay tuition for college, grad school, trade school, etc. or refinance/consolidate student loans.

Upstart Personal Loan Details

Loan Amounts & Terms

  • Loan amounts. Upstart offers fixed-rate personal loans between $1,000 and $50,000. However, there are state-specific minimums in Massachusetts ($7,000), Ohio ($6,000), New Mexico ($5,100) and Georgia ($3,100).
  • Loan terms. Borrowers have access to personal loan terms of three or five years—36 or 60 months.

Loan Costs

  • APR. Rates range from 5.4% to 35.99%. Upstart does not offer autopay discounts like other providers.
  • Origination fees. Upstart charges 0% to 8%. This is a one-time fee that’s deducted from the loan proceeds before they are delivered to the borrower.
  • Late fees. If a borrower fails to pay the full monthly payment amount within 10 calendar days of its due date, Upstart charges a late fee equal to 5% of the past due amount or $15, whichever is greater.
  • Prepayment penalty fees. Upstart does not charge prepayment penalties for borrowers who wish to pay off their loan early.
  • Unsuccessful payment fee. There is a $15 charge per occurrence when bank transfers (ACH) or checks are returned or fail due to insufficient funds—or for any other reason.
  • Paper copy fees. Upstart charges borrowers a one-time fee of $10 if they request physical copies of records and withdraw eSign consent.

Perks & Features

  • Hardship program. Borrowers can apply to temporarily suspend loan payments if they experience economic hardship, like job loss. Keep in mind, however, that interest continues to accrue during this period.

Does Upstart Charge Any Fees?

Before you accept a loan from Upstart, review the terms carefully to see if you’ll have to pay an origination fee. The fee can range from 0% to 8% depending on your creditworthiness and will be deducted from your loan disbursement. It’s important to account for these fees when borrowing because if, for example, you borrow $10,000 with an 8% fee, the amount you’ll actually receive is cut down to $9,200.

The origination fee is the only potential mandatory fee, but Upstart does charge a late payment fee if your payment is more than 10 days late. There’s also an ACH or check return fee if you don’t have enough money in your account to cover your payment and a fee for requested paper copies of your records.

Upstart does not charge a prepayment fee, and you can save money by paying off your loan early. However, you won’t receive any of your origination fee back.


We reviewed Upstart based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Upstart based on the weighting assigned to each category:

  • Loan cost: 35%
  • Loan details: 20%
  • Eligibility and accessibility: 20%
  • Customer experience: 15%
  • Application process: 10%

Within each category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at credit score requirements, whether the lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated Upstart’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.