A User-Friendly Lending Company
Not only is the fact that they take into account more than your credit score to provide you with fair loan terms that is tailor made to suit your financial capacity, Upstart also makes almost every other aspect of their lending service as friendly as possible. To give an example, they make it pretty easy for everyone to set up automated monthly payments so you can basically “set it and forget it.” Other great, user-friendly aspects include zero prepayment penalties, fast, painless application process, helpful customer support and more.
Ease of Use & Features
Upstart boldly states in their website that they offer “fair and fast personal loans,” which some will no doubt hastily equate to nothing more than marketing fluff or the prerequisite chest-thumping of a proud company. It is great news, then, that their claims are anything but and actually hold water.
To begin with, application is a fairly quick and painless process. Even better, everything is done online so you can accomplish all you need to do within minutes, should you already have the required information and documentations, such as paystubs, tax returns, and the like, on tap. The whole process can be condensed into three easy steps:
- First, you are presented with a simple questionnaire for which you need to provide details about yourself such as your educational background or employment history. This allows them to get a better understanding of how to provide you with a more personalized loan, which can result in lower rates. The great thing about their process is that you can get your rate in only 2 minutes time, and doing so won’t affect your credit score.
- Next, once your application has been approved, you will be given the chance to review and accept your loan. Their personal loans range from $3,000 up to $35,000, with the higher end of that spectrum naturally reserved for those with exceptional credit. Upstart’s APRs, meanwhile, are around 30% lower than most. Interest rates, on the other hand, range from 4% up to around 25%.
- Finally, should you accept your loan terms by 5PM ET, you can immediately receive your funds the following business day. This is great especially for those who require the personal loan to cover their expenses for urgent matters.
As you can see, it is fairly easy to apply and receive loans with Upstart. However, in order to get a full breakdown of all their rates, terms, and other conditions, it would be a good idea to head on over to their website in order to learn more.
For those who wish to learn more about Upstart’s rates, fees, and the like, their website does a pretty good job of explaining most of the important aspects. Their FAQ section is pretty comprehensive as well and should prove to be quite an asset to most. For inquiries, their customer support by online contact form, direct email, postal mail, and by phone. Their operating hours are every Monday to Friday, from 6am-8pm, PST, as well as Saturday and Sunday, from 6am-6pm, PST.
What's the Verdict on Upstart?
Upstart Review 2020 – Conclusion
If you are looking to get a personal loan, Upstart is one of the best places on the internet where the average rates are 30% lower than most lending companies out there. More than that, they also take into account more than your credit score in order to craft a more personalized loan term suited to your financial capacity, which can, as a result, net you lower rates. Furthermore, their application process is quick and easy, and you can even receive your funds as early as the next business day after you’ve accepted the loan. The one downside is that they only offer a 3 year term, but other than that Upstart is a pretty solid lending company and should definitely be on your radar. So, what are you waiting for? Check them out now!