Guides / Lender matchup
Upgrade vs Prosper: Personal Loan Rates, Terms and Fees (2026)
Short answer: Upgrade starts at a lower APR (7.74% vs 8.99%), offers longer terms up to 84 months, and can pay your creditors directly. Prosper lends $2,000 to $50,000 over 24 to 72 months. Both cap APRs at 35.99% and charge origination fees up to 9.99%.
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| Upgrade | Prosper | |
|---|---|---|
| APR | 7.74% to 35.99% | 8.99% to 35.99% |
| Loan amounts | From $1,000 | $2,000 to $50,000 |
| Terms | 24 to 84 months | 24 to 72 months |
| Origination fee | 1.85% to 9.99% | 1% to 9.99% |
| Funding time | As soon as 1 business day after approval | As soon as 1 business day |
| Minimum credit score | Not published | Not published |
| Late fee | Up to $10 if paid more than 15 days late | Greater of $15 or 5% of the payment |
| Availability | Some loan offers may not be available in all states | Not available in Iowa or West Virginia |
Choose Upgrade if
- You want a term longer than 6 years
- You're consolidating debt and want the lender to pay creditors directly
- You need less than $2,000
Choose Prosper if
- You want to apply with a co-borrower
- You want terms up to 6 years with a $2,000 minimum
- Upgrade doesn't make you an offer
Can I check both at once?
Yes. One CLO application with a soft pull can return offers from both lenders, along with others in our network. Compare the full cost in our comparison tool before you choose.
Checking your rate uses a soft credit pull. Accepting an offer and finishing a lender's application may lead to a hard inquiry.
Upgrade vs Prosper: common questions
Which is cheaper, Upgrade or Prosper?
It depends on the APR and fee each one offers you. Upgrade's starting APR is lower, but your offer depends on your credit. Compare total repayment, not just APR.
Which funds faster?
Both can fund as soon as 1 business day after approval.
Do Upgrade and Prosper both use a soft pull to check rates?
Yes. Pre-qualifying through CLO uses a soft pull. A hard inquiry happens only if you accept an offer and finish the lender's application.