Review of Upgrade Loan

Review of Upgrade Loan

If you are looking for a personal loan and if you find yourself as a qualified credit scorer then you are one eligible person for applying for a loan. Upgrade has its office in San Francisco and has its presence in other locations. It is very well known for its personal loan lending for health-related issues. It takes out the complete knowledge for credibility and also provides loans to its borrowers. In the case of Upgrade, you do not have a very long time to repay the amount. It is generally 3 to 5 years, and that makes a problematic issue for people who were looking for long-term loans.

Terms and Fees of Upgrade Loan

    • APR: 99% – 35.97%
    • Loan Amount Range: $1,000 – $50,000
  • Origination Fee: 1% – 6%
  • Funding Time: 24 Hours

Eligibility Requirements for Upgrade Loan

  • The eligibility of Upgrade personal loan requires a minimum credit score of 620.
  • Apart from this, good debt to income ratio as well as good credit history is also required.
  • In terms of residency, a US permanent citizenship is required, or a Visa holder in the US is also required
  • There is a need to limit of age, but a minimum requirement is of 18 years old and 19 in some states as well.
  • A verifiable bank account is required, and an email address is required. Thus when it comes to age, when it comes to citizenship and when it comes to verified account, these three are the most important eligibility issues that one has to tackle apart from the minimum credit score history.
  • There are certain places where you cannot get the loan and thus Upgrade loans are exclusively available at certain places and not all.
  • There is also a requirement of stating your salary to ensure your application to be accessed and followed up.
  • Self-employed people can also apply for the Upgrade loans, and they just need to have a submission of more paperwork that too just to get the right value of their income.

Upgrade Loan Application Process

  • To apply for Upgrade loan, firstly it is required that you check all your eligibility criteria is being fulfilled, especially a minimum credit score post which you require to enter certain basic personal information about the loan that you need.
  • Once your rate has been checked regarding the purpose of the loan and the amount being entered, the next thing is that you need to give your bank account where you would want to get the money sent once this is approved.
  • Eventually, after all the information, they will also need checking of all this information, and then you’ll be getting an email which will be asking you to upload the certain documents that are required as well as the tax documents.
  • Within four business days, you’re going to get the funding once your information has been cleared.
  • You will also get a mail that will require you to upload certain documents apart from your personal information and verification.
  • The best idea is to also to also sign up for Autopay because it can help you get your application process and loan at a very good rate as well.

Pros and Cons of Upgrade Loan


  • The best part of this personal loan offered by Upgrade is that it checks your rates in a sot point manner and therefore the hard point is only the part of the process once you have reached the final approval process.
  • The next advantage is that there is going to be a credit monitoring, please note that is completely free resource and can help you improve your credit score as well the interest rates offered.
  • The funding is very quick; it is within four business days post the approval of your entire process. Thus you will get your money in your account very soon, especially because this is a hassle-free online personal loan providing service.


  • The cons of the process include the origination fee. Generally you have no origination fee, and you do not have to pay any origination fee, but in this case, you have an online origination fee as well, and therefore this is one big disadvantage.
  • Secondly, the various cities in which it is serving is comparatively less, and therefore there are many places that you cannot get the loan owing to its limited availability.
  • Thirdly, it is a short-term loan with a maximum repayment period of five years.
  • Therefore, in case you are looking for a long-term loan, you may not be proceeding with this one.