The best personal loans offer competitive interest rates, flexible loan amounts, and a wide variety of terms. Here’s how upgrade personal loans compare to other popular lenders:
*Example: A $5,900 loan with an administration fee of 4.75% and a financing amount of $5,619.75, repayable in 36 monthly installments at an APR of 29.95%, would have monthly payments of $250.30. If approved, the actual credit terms for which a customer qualifies may vary based on credit history, state law and other factors. The minimum loan amounts vary by state.
Upstart vs. update
Upstart and Upgrade are designed to lend to borrowers with less than good credit. While Upstart’s recommended minimum credit rating is 600, Upgrade’s is 580. If you qualify for Upstart, you may be able to obtain higher credit limits—up to $50,000. However, Upstart only offers two terms – three and five years – while Upgrade offers terms ranging from two to seven years. Which provider is best for you depends on how much money you need to borrow and how quickly you want to pay it back.
Related: Update Personal Loans Review
Upstart vs. Avant
Similar to Upgrade, Avant’s minimum recommended credit score is 580, 20 points lower than Upstart. Again, this makes it a solid option for borrowers who don’t have great credit but still need access to financing. In addition, Avant offers more repayment options compared to Upstart. When you are approved for a loan with Avant, you have access to terms ranging from two to five years, depending on your credit history and other factors.
Related: Review of Avant Personal Loans
Upstart vs. Wells Fargo
Unlike Upstart, an online lender, Wells Fargo is a traditional bank. Applying for a personal loan through a bank like Wells Fargo is usually a good idea if you already have a relationship with them. Wells Fargo offers personal loans ranging from $3,000 to $100,000 in terms from one to seven years. Wells Fargo does not recommend a minimum credit rating, but may give more weight to other factors such as your existing relationship with the bank, debt-to-income ratio (DTI), and monthly income.
Related: Wells Fargo Personal Loans Review