If you are considering a personal loan, you may have heard about this lender. But don’t worry; we’ll break it down in this Upstart Personal Loan review.

With their automated underwriting process and low fixed rates, Upstart is one of the most popular lenders in this space. So read on to find out!

Upstart uses a nontraditional underwriting method to help more borrowers qualify and get a low rate, even with imperfect credit.

Thus, their high-tech platform uses AI to match borrowers and lenders with greater chances to qualify.

Rather than relying solely on credit reports, debts, income, and assets like banks typically do, it leverages artificial intelligence and alternative data points such as:

But the price for this commodity can be high. Be prepared to spend up to 8% of your loan amount in origination fees and 5% of the past due month in late fees.

You can get an Upstart Personal Loan to suit many interests and needs, including:

Conversely, borrowers can’t get a loan with them for the following purposes:

Additionally, you can choose to pay your loan in 3 or 5 years.

This online lender does not offer co-signing or joint loan options. Also, it doesn’t accept borrowers from Iowa.

However, you can change your payment day with the due date grace period. Borrowers can pay 15 days before or after the due date.

Upgrade offers free financial education about building credit and personal loans on its website.

An Upstart Personal Loan suits borrowers who want fast funding and respond to nontraditional requirements.

But is that the loan for you? Discover by checking out the pros and cons as follows:

Yes, it does. They will run a soft credit inquiry to check your score. They are more likely to accept applicants with credit scores of at least 600.

How about getting your Upstart Personal Loan through an online platform in no time? Here are a few tips to get your application started. Then read on!