Upstart Personal Loans
Quick approval for all credit scores. Borrow $1,000 to $75,000 at rates from 6.5% to 35.99% APR. Most loans funded the next business day.
Upstart Personal Loans stand out for Canadians seeking fast cash with minimal hassle. Offering loan amounts from $1,000 to $75,000, Upstart welcomes applicants with credit scores as low as 300, or even those with no history. The APR ranges from 6.5% to 35.99%. Terms are available for either 36 or 60 months. Upstart’s application process is remarkably simple and can result in lending decisions within minutes. Most approved borrowers receive funds in their bank account as soon as the next business day. No early payoff penalty gives you flexibility, but be aware of an origination fee up to 12%.
How to Apply for Upstart Loans
- Check your eligibility online with soft credit inquiry.
- Fill out the application with personal and financial details.
- Submit your paperwork if requested.
- Receive a quick decision, sometimes instantly.
- Get funds sent directly to your bank, often by the next day.
Top Advantages
Upstart has a reputation for accepting applicants with no or poor credit, so there’s potential for more Canadians to qualify. Speed is a major advantage: the funding process is extremely fast, making it suitable for urgent needs. No penalty for early repayment gives you added peace of mind if you pay off your balance faster than expected.
Potential Drawbacks
Upstart does charge an origination fee which may increase your costs up to 12% of the loan. There are also late payment fees, and a $10 charge if you need a paper copy of your loan agreement. Higher APRs may apply to those with lower credit scores or shorter histories, so it’s important to read the terms carefully.
Final Verdict
For those in Canada needing fast funding for sudden expenses, Upstart Personal Loans are a flexible and accessible solution. The quick approval process and willingness to work with a broader range of credit scores make it an excellent choice for people who have limited or damaged credit. However, always check your offered rate and fees before agreeing to a loan to ensure it will fit your budget in the long run.
