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Upgrade Personal Loans Review 2021 – Forbes Advisor

Upgrade Personal Loans Review 2021 – Forbes Advisor
Written by Publishing Team

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

promotion vs. SoFi

Personal SoFi loans start at $5,000 and go up to $100,000 depending on the purpose of the loan—much more than the loans available through an upgrade. APRs start around 6% with automatic payment, which is similar to the starting rates offered by the Upgrade, but SoFi rates peak at around 20% with automatic payment. SoFi loans are also attractive because, unlike an upgrade, the lender does not charge any set-up fees.

Related: LightStream Personal Loans Review

promotion vs. LightStream

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

Like an upgrade, loan terms start at just two years, but LightStream offers more comprehensive terms of up to 12 years depending on loan size, purpose, and creditworthiness. Moreover, LightStream does not charge an establishment fee, which reduces the total cost of the loan, especially compared to an upgrade.

Related: LightStream Personal Loans Review

promotion vs. Marcus

Like the upgrade, Marcus offers smaller personal loans from $3,500 to $40,000. Rates start around 7% – just above the minimum annual percentage for promotion – but reach a maximum of around 20%, which is well below the highest promotion rates. Furthermore, Marcus does not charge an initiation or delay fee. These lower rates come with a catch, Marcus has a recommended higher credit score of 660.

Related: Marcus Personal Loans Review

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