Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Best Egg vs. Upstart: Personal Loan Comparison Updated May 28, 2024 6-min read Written by Andy Rowe Written by Andy Rowe Expertise: Personal loans, credit cards, real estate, financial technology Andy Rowe is a skilled writer and small business owner with a passion for storytelling. He's been writing about financial technology, real estate, thought leadership, and personal loans since 2018. Andy adapts his style to diverse audiences and enjoys documenting his personal finance journey online. Learn more about Andy Rowe Two major online personal loan lenders—Best Egg and Upstart—offer similar rates and terms. But after a closer inspection, it’s clear they cater to two different types of borrowers. This Best Egg vs. Upstart comparison will help you decide which is right for you. 4.8 View Rates 4.8 View Rates Rates (APR) 8.99% – 35.99% 7.80% – 35.99% Rates (APR) Rates (APR) 8.99% – 35.99% 7.80% – 35.99% Loan amounts $2,000 – $50,000 $1,000 – $50,000 Loan amounts Loan amounts $2,000 – $50,000 $1,000 – $50,000 Repayment terms 36 – 60 months 36 – 60 months Repayment terms Repayment terms 36 – 60 months 36 – 60 months Min. credit score 300 Not disclosed Min. credit score Min. credit score 300 Not disclosed View the best personal loans. How Best Egg works Best Egg personal loans offer competitive rates, a simple loan process, and straightforward terms. Bets Egg assesses an origination fee of 0.99% to 8.99% that’s deducted from the amount you receive. If you opt for a loan term of four years or longer, the minimum origination fee is 4.99% Best Egg’s average loan amount is around $15,000. If you have good credit and a minimum income of $100,000, you might qualify for Best Egg’s lowest APR and higher amounts. Approvals are quick, with about half of its customers receiving funds the next business day. Loan amounts range from $2,000 to $50,000 but aren’t available to residents of Iowa, Vermont, West Virginia, Washington, D.C., and U.S. Territories. If you have a Best Egg loan and want to add one, your total balance can’t exceed $100,000. No prepayment penalties apply, and terms range from 36 to 60 months. You can learn more in our Best Egg personal loan review. How Upstart works Upstart stands out from the crowd by catering to borrowers with low credit scores or nonexistent credit history. It does this by using manual underwriting to look beyond a prospective borrower’s credit score, which is beneficial for anyone looking for help building their credit. Upstart uses a soft credit check to look up your rate, so it doesn’t affect your credit score. If you decide to go with the quote, a hard inquiry will follow. Funds are sent to your bank account as soon as the next business day. Loan amounts range from $1,000 to $50,000. Interest rates can vary by state but generally range from 7.8% to 35.99%. No prepayment penalties apply with Upstart, but the origination fee can be as high as 8%. You can learn more in our Upstart personal loan review. Best Egg vs. Upstart eligibility requirements When you compare Best Egg with Upstart, it’s clear that each lender targets different borrowers. Best Egg is geared toward borrowers with established credit, and Upstart offers a more flexible approach for borrowers with little to no credit history. Because both lenders offer similar terms, here’s a closer look at other deciding factors: Criteria Best EggUpstartCredit score700+ for lowest ratesMin. 300 (the lowest possible)Annual income$100,000 for lowest ratesNot disclosedLoan amounts$2,000 – $50,000$1,000 – $50,000Loan term36 – 60 months36 – 60 monthsOrigination fee0.99% – 5.99% Up to 8% AvailabilityNot available in Iowa, Vermont, West Virginia, D.C., or U.S. Territories Available in all 50 statesFunding 1 – 3 business days after approval Next business day if accepted before 5 p.m. Eastern Upstart vs. Best Egg customer reviews PlatformBest EggUpstartTrustpilot4.6 out of 5 (8,923 reviews)4.9 out of 5 (46,136 reviews)Google4.5 out of 5 (2,263 reviews)4.2 out of 5 (159 reviews)Better Business Bureau (BBB) 4.87 out of 5 (2,957 reviews)1.23 out of 5 (235 reviews)Cust. feedbackQuick funds, high origination fees, good for consolidating credit card debtEasy to apply, some technical issues with preapprovals, high interest ratesReviews collected on May 15, 2024. The customer reviews for Best Egg and Upstart reveal different levels of satisfaction across the review platforms. Best Egg earns high praise on Trustpilot, Google, and BBB. Upstart, while scoring well on Trustpilot, doesn’t fare as well on the other platforms, especially BBB. Our biggest concern is the discrepancy between Upstart’s exceptional Trustpilot reviews and its BBB rating, where it falls short. Upstart’s low scores seem to be tied to technical issues during the preapproval process and concerns over high interest rates. But those who are approved say the entire process is quick, easy, and straightforward. The best practice here is to weigh the nature of the complaints before deciding on either lender. Take into account the praise customers give both lenders, as well as the relevance and frequency of the complaints. Upstart vs. Best Egg: Which is right for me? With so many lenders offering similar products, it can be difficult to determine which is right for you. To help, we’ve broken down some scenarios below where one lender may make more sense than the other. ScenarioWinnerYou have good creditBest EggYou’re still building your creditUpstartYou need to borrow a high amountUpstartIf you need money to pay for schoolUpstart If you have good credit Best Egg may be the better option if you have a stable income and a FICO credit score of 700 or higher. Best Egg offers its lowest rates to creditworthy borrowers. Considering borrowers with good credit have the option to shop around, it would be beneficial to get offers from both lenders for a clearer picture of which offers you the best terms. Winner Best Egg If you’re still building your credit Upstart is the clear choice if you have little to no credit history or are still building your credit. Upstart focuses on alternative data, such as your employment history, to qualify you for a personal loan. This approach makes it more accessible to younger borrowers or recent graduates who don’t yet have much credit. Winner Upstart If you need to borrow a high amount Upstart may be the better choice if you need a large sum of money. Both lenders offer a maximum loan amount of $50,000, but Upstart could be more likely to approve you given its flexibility for qualifying. If you want to borrow more than what either lender offers, you may want to look at LightStream, which offers much higher loan amounts. Winner Upstart If you need money to pay for school You can use a personal loan for almost anything, but most lenders prohibit borrowers from using funds to pay for college or grad school. Upstart is one of the few exceptions. We generally advise looking into a private student loan before personal loans to cover any funding gaps in your education, but Upstart could work in a pinch. Winner Upstart Where to find personal loan alternatives Best Egg and Upstart are worthy choices for personal loans, but they’re far from your only options. You can get personal loans from your bank, credit union, or an online lender, so it makes sense to get quotes and compare options before submitting a full loan application. If you want to compare more options, our guide to the best personal loans is an excellent place to start your search. You may also be interested in these other comparison reviews: Best Egg vs. LendingClubSoFi vs. Best EggUpstart vs. SoFi