🏆 Quick Verdict
These lenders serve different borrowers. Your credit profile determines the winner:
Choose SoFi if:
Good credit (680+), want no fees & member benefits
Choose Upstart if:
Fair credit (620-679), thin file, or recent graduate
| Feature | SoFi | Upstart |
|---|---|---|
| APR Range | 8.99% - 29.49% ✓ | 7.80% - 35.99% |
| Loan Amount | $5,000 - $100,000 ✓ | $1,000 - $50,000 |
| Min Credit Score | ~680 | ~620 ✓ |
| Origination Fee | $0 ✓ | 0% - 12% |
| Late Fee | $0 ✓ | 5% or $15 |
| Loan Terms | 2-7 years ✓ | 3 or 5 years |
| Funding Speed | Same day | 1 business day |
| Min Loan Amount | $5,000 | $1,000 ✓ |
| Considers Education | No | Yes ✓ |
| Co-borrower Option | Yes ✓ | No |
| Unemployment Protection | Yes ✓ | No |
The Key Difference: Credit Requirements
SoFi is designed for borrowers with established, good credit (680+). In return, you get zero fees, competitive rates, and premium member benefits like unemployment protection.
Upstart uses AI to evaluate you beyond your credit score—considering education, employment, and earning potential. This means borrowers with fair credit (620+) or thin credit files can still get approved, often at better rates than their score alone would suggest.
Bottom line: If you have 680+ credit, SoFi's no-fee structure will likely save you money. If your credit is below 680 or you're new to credit, Upstart may be your only—and best—option.
Who Should Choose Each?
Choose SoFi If You...
- ✓ Have good credit (680+)
- ✓ Want $0 fees guaranteed
- ✓ Need unemployment protection
- ✓ Want loans up to $100,000
- ✓ Value member benefits
- ✓ Want a co-borrower option
Choose Upstart If You...
- ✓ Have fair credit (620-679)
- ✓ Are a recent graduate
- ✓ Have limited credit history
- ✓ Need a small loan ($1,000+)
- ✓ Were denied elsewhere
- ✓ Have strong education/job