2021 Personal Loan Review Upgrade – Forbes Advisor


The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how Upgrade Personal Loans stack up against other popular lenders:

Upgrade Vs. SoFi

SoFi personal loans start at $ 5,000 and go up to $ 100,000 depending on the purpose of the loan, much higher than the loans available through Upgrade. APRs start at around 6% with auto-pay, which is similar to the starting prices offered by Upgrade, but SoFi’s rates peak at around 20% with auto-pay. SoFi loans are also attractive because, unlike Upgrade, the lender does not charge any origination fees.

Related: 2021 SoFi Personal Loan Review

Upgrade Vs. LightStream

LightStream personal loans range from $ 5,000 to $ 100,000, and APRs start below 3% with automatic payment for certain loan purposes. This makes LightStream loans much more flexible and affordable for the most qualified borrowers who need a large loan at competitive rates.

Like the upgrade, loan terms start at just two years, but LightStream offers more extensive terms of up to 12 years depending on the size, purpose, and creditworthiness of the loan. Additionally, LightStream does not charge origination fees, which further reduces the overall cost of a loan, especially compared to upgrading.

Upgrade Vs. Marcus

Like Upgrade, Marcus offers smaller personal loans from $ 3,500 to $ 40,000. Pricing starts at around 7%, slightly higher than Upgrade’s minimum APR, but peaks at around 20%, which is well below Upgrade’s higher rates. Additionally, Marcus does not charge origination or delay fees. With these lower rates there is a catch, Marcus has a higher recommended minimum credit score of 660.


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