Upstart vs LendingClub: Comparing Personal Loan Options

Side-by-Side Comparison

How These Lenders Compare

Both Upstart and LendingClub serve borrowers across a range of credit profiles, but they take different approaches to evaluating loan requests. Upstart incorporates AI-driven underwriting that weighs education, employment history, and other non-traditional data points alongside your credit score. LendingClub relies on more traditional credit evaluation criteria but offers the advantage of joint applications, which can be valuable for borrowers who have a co-borrower with stronger credit.

In terms of loan amounts, Upstart offers up to $50,000 while LendingClub caps at $40,000. Upstart has a lower starting APR at 7.80% compared to LendingClub's 9.57%, though both lenders have maximum APR of 35.99%. The rate you receive from either lender will depend on your individual financial profile.

Which May Be a Fit for You

If you have a limited credit history but strong educational credentials or stable employment, Upstart's AI-based evaluation may work in your favor. If you want to submit a joint application with a co-borrower or need direct payment to creditors for debt consolidation, LendingClub provides those features.

Consider the origination fees carefully. Upstart's fees range from 0% to 12%, while LendingClub charges 3% to 8%. The actual fee you pay depends on your creditworthiness and other factors. A lower fee means more of your loan proceeds go toward your intended purpose rather than being deducted at disbursement.