Upstart and SoFi are both top-rated online personal loan lenders, but they target very different borrowers. SoFi is designed for high-income, excellent-credit borrowers and offers the best rates and largest loans with zero fees. Upstart is designed for borrowers with lower credit scores or thin credit files, using AI to approve people traditional lenders reject.
Quick Verdict
If your credit score is 680 or above and you have stable income, SoFi will almost certainly offer you a better rate than Upstart. If your score is below 680, Upstart is your better option — SoFi will likely reject your application outright.
Side-by-Side Comparison
| Factor | Upstart | SoFi |
|---|---|---|
| Min Credit Score | 300 | 680 |
| APR Range | 6.6%–35.99% | 8.99%–29.49% |
| Loan Amount | $1K–$75K | $5K–$100K |
| Origination Fee | 0%–15% | None |
| Prepayment Penalty | None | None |
| Unemployment Protection | No | Yes |
| Co-signer | No | No |
| Funding Time | 1 business day | 1–3 business days |
SoFi's Advantages
SoFi wins on: lower maximum APR (29.49% vs 35.99%), no origination fee (Upstart charges up to 15%), higher loan amounts (up to $100K vs $75K), unemployment protection that pauses payments if you lose your job, and member benefits including career coaching and financial planning.
Upstart's Advantages
Upstart wins on: much lower minimum credit score (300 vs 680), AI-powered approval that considers education and employment, faster funding (1 business day), and access for borrowers SoFi would reject entirely.
No fees, unemployment protection, and the best rates for excellent-credit borrowers. Up to $100K. Best overall personal loan for qualified borrowers.
Best option when SoFi is not available due to credit score. AI-powered approval. Typical APR 6.6%–35.99%, subject to change. Origination fee 0%–15%.
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Check My Options →Frequently Asked Questions
Is Upstart or SoFi better?
It depends on your credit score. For scores 680+, SoFi is better — lower max APR, no fees, higher loan amounts. For scores below 680, Upstart is your only option between the two, as SoFi will likely reject the application.
Does SoFi have an origination fee?
No. SoFi charges no origination fee, no prepayment penalty, and no late fees. This makes it one of the most cost-effective lenders for qualified borrowers.
What is Upstart's origination fee?
Upstart charges 0%–15% of the loan amount as an origination fee. This is deducted from your loan proceeds before disbursement. Factor this into your calculations when comparing total loan costs.
Can I get a SoFi loan with a 650 credit score?
SoFi's minimum credit score is 680, so a 650 score would likely result in rejection. Upstart (minimum 300), Avant (minimum 580), or Achieve (minimum 620) are better options for a 650 score.