# Personal loans up to $50,000 with low, fixed rates

- Affordable monthly payments
- No prepayment fees
- Fast funding

## Loan amount
Pay off Credit Cards
Debt Consolidation
Business
Home Improvement
Large Purchase
Other Loan purpose

## Check your rate
Checking your rate is free and won’t impact your credit score.

## Best Personal Loans

### A simple breakdown of a personal loan
Get to know the rates, fees, and your payback plan

If you're approved for a **$10,000** loan with a **17.98% APR** and **36-month** term...

### Your APR
The 17.98% APR includes:
- 14.32% yearly interest rate
- 5% one-time origination fee ($500)

### Your money
You would get $9,500 deposited directly in your account

$10,000 - $500 = $9,500  
Loan amount - Origination fee

### Your payments
And, each month you would pay back $343.33 over 36 months

## Personal loan FAQs

### What is a personal loan?  
Personal loans are a form of [debt](/content/credit-health/insights/revolving-debt-vs-installment-debt/index.html) where you borrow money in one lump sum. [Loans differ from credit cards](/content/credit-health/insights/personal-loan-vs-credit-card-right/index.html), in that credit cards allow you to borrow and reborrow money in increments up to a specific credit limit. Personal loans through Upgrade have a fixed interest rate.

### How can I use a personal loan?  
You can use a personal loan to [achieve a lot of different financial goals](/content/credit-health/insights/5-reasons-to-get-a-personal-loan/index.html)!
- [Debt consolidation](/content/personal-loans/debt-consolidation/index.html)
- [Paying off high-interest debt](/content/personal-loans/refinance-credit-cards/index.html)
- [Home improvement expenses](/content/personal-loans/home-improvement/index.html)
- [Important purchases](/content/personal-loans/major-purchase/index.html)
- [Unforeseen necessary expenses](/content/personal-loans/unexpected-expense/index.html)

### Will checking my rate affect my credit score?  
No, checking your rate won’t affect your credit score because we only perform a soft inquiry.

### How long does it take to apply for a personal loan through Upgrade?  
You can [check your rate in minutes](/content/personal-loans/index.html) with no impact to your credit score. Upgrade offers an easy application with fast decisioning.

### Is there a way to lower my APR?  
Yes! Upgrade offers [ways to save money on interest](/content/credit-health/insights/breaking-down-the-cost-of-credit/index.html) for qualified customers.

### What is the discount for homeowners?  
If you are a homeowner, you can receive a discount if you choose to secure your loan with built-ins in your home.

### What are Upgrade’s loan eligibility and requirements?  
Eligibility for [a loan through Upgrade](/content/personal-loans/index.html) is based on [several factors](/content/credit-health/insights/how-to-get-a-personal-loan-a-quick-and-easy-checklist/index.html).

### Can I get a loan if I have bad credit?  
We look at a number of factors when you apply for a loan, so it is possible that you may still be eligible for a loan offer.

### What loan terms does Upgrade offer?  
Loans terms offered through Upgrade vary from 24 to 84 months with Annual Percentage Rates (APRs) of 7.74%-35.99%.

### Can I apply with another person?  
Yes! Upgrade accepts joint applications.

### What documents do I need to apply for a personal loan through Upgrade?  
To check your rate, you only need some essential information like your name and address. As we review your application, we may request documents like government-issued ID and proof of income.

### Can I change my monthly payment date?  
Yes! You can adjust your payment date to the day of the month that’s best for you up to 15 days before or after your assigned payment date.

### When will I receive my money if I qualify for a personal loan?  
After you accept your loan offer, you can expect to get your money within 1 business day of clearing verifications.

### Are there any fees for paying off my loan early?  
No, there are no prepayment fees for paying off your loan early.

### Does debt consolidation hurt your credit?  
Debt consolidation is a common way to improve your credit health as it allows you to pay off multiple debts at once.