SoFi and Upstart are both online personal loan lenders, but they underwrite very differently. SoFi targets borrowers with established credit and higher incomes — its rates are competitive for prime borrowers (FICO 680+) and it adds member benefits (career coaching, unemployment protection). Upstart's AI model incorporates education and employment history alongside credit — making it accessible to borrowers with thinner credit files or lower scores who don't qualify at prime-only lenders. The decision is almost always made by your credit profile: strong credit favors SoFi; building or rebuilding credit may open Upstart options — see how [personal loan rates vary by credit score](/answers/personal-loan-interest-rates-by-credit-score) before applying at either. Nationwide nonrevolving consumer credit growth (the category personal loans fall under) is tracked monthly in the Federal Reserve's G.19 Consumer Credit report (federalreserve.gov). Source: CFPB Consumer Credit Trends (consumerfinance.gov); Experian State of Credit 2024.
SoFi Bank, N.A.
Best all-around personal loan for good-to-excellent credit.
Pros
Cross River Bank / FinWise Bank (partner banks)
AI underwriting that accepts thin credit files other lenders reject.
Pros
Per-spec leads computed from published specs — no single overall winner. Reviewed 2026-07-14.
| Spec | SoFi Personal Loan | Upstart |
|---|---|---|
| Starting APR | 8.99–29.49% | ◈ 7.80–35.99% |
| Max amount | ◈ $5K–$100K | $1K–$50K |
| Origination fee | None | 0–12% |
| Best for | Borrowers who want flexibility, member benefits, and unemployment protection at competitive rates. | Young professionals, recent graduates, or borrowers with limited credit history but strong income. |
◈ marks the stronger option for that row.
Pick SoFi Personal Loan if: Borrowers who want flexibility, member benefits, and unemployment protection at competitive rates.
Pick Upstart if: Young professionals, recent graduates, or borrowers with limited credit history but strong income.
Apply at SoFi Bank, N.A. →Apply at Cross River Bank / FinWise Bank (partner banks) →
See all picks, methodology, and side-by-side comparison in Best Personal Loans 2026.
SoFi generally targets borrowers with FICO scores of approximately 680 and above, with its most competitive rates for prime and super-prime borrowers. Upstart's AI underwriting model considers education level and employment history alongside credit, allowing it to approve borrowers with scores as low as 580 in many markets — though rates for lower-credit borrowers will be higher. Verify current eligibility and rate ranges at sofi.com and upstart.com. Source: Experian State of Credit 2024; consumerfinance.gov.
For borrowers with strong credit (680+) and stable income, SoFi typically offers lower APRs and added benefits (no origination fee, unemployment protection). For borrowers with limited credit history, recent credit events, or scores below 680, Upstart's alternative underwriting model may approve applications that prime-only lenders like SoFi decline — see getting a personal loan with no credit history for what alternative-underwriting lenders like Upstart typically weigh. Get pre-qualified at both — a soft pull shows your rate range without affecting your credit. Source: CFPB (consumerfinance.gov).
Yes. SoFi's Unemployment Protection program allows eligible borrowers who lose their job involuntarily to pause monthly loan payments in three-month increments (up to 12 months total over the life of the loan) while SoFi works with them on job placement resources. Interest continues to accrue during the pause. Upstart does not offer a comparable unemployment protection program. This is a meaningful differentiator for borrowers who value income-disruption protection. Source: sofi.com.
Yes. Upstart personal loans may include an origination fee of 0–12% depending on your credit profile, loan amount, and state. SoFi does not charge origination fees on personal loans. When comparing loan offers, use the APR — which incorporates origination fees — rather than the stated interest rate to evaluate the true borrowing cost. A lower stated rate with a high origination fee can cost more than a higher rate with no fee. Source: CFPB loan comparison guidance at consumerfinance.gov.
Both SoFi and Upstart are online lenders with relatively fast funding timelines. SoFi typically provides same-day or next-business-day funding after loan approval and document verification. Upstart also targets fast disbursement — many borrowers receive funds as quickly as one business day after acceptance. Actual timing depends on your bank and when documents are submitted. Verify current funding timelines at sofi.com and upstart.com. Source: sofi.com; upstart.com.
Yes. Both SoFi and Upstart report personal loan payment activity to the major credit bureaus (Equifax, Experian, and TransUnion). On-time payments can positively contribute to your credit history; missed or late payments will be reported negatively. This is standard for virtually all personal loan lenders regulated under FCRA — it is one reason personal loans can be a credit-building tool when managed responsibly. Source: CFPB (consumerfinance.gov); Experian (experian.com).
SoFi offers personal loans from $5,000 to $100,000 — one of the highest maximums among online personal lenders, making it a strong option for large debt consolidation or major expenses. Upstart's personal loan range is typically $1,000 to $50,000, depending on the state and applicant profile. If you need to borrow above $50,000, SoFi is the relevant lender between these two. Verify current loan ranges and state availability at sofi.com and upstart.com. Source: CFPB (consumerfinance.gov).
Neither SoFi nor Upstart currently allows co-signers on personal loans. If you need a co-signer due to credit or income limitations, consider lenders that explicitly permit co-signers (such as LightStream or PenFed). For thin-file borrowers who can't qualify alone, Upstart's alternative underwriting model (incorporating education and employment data) may be the better path before exploring co-signer options at another lender. Source: sofi.com; upstart.com.
Both SoFi and Upstart offer fixed-rate personal loans — the interest rate and monthly payment are set at origination and do not change over the life of the loan. Fixed rates make budgeting straightforward: you know your exact monthly payment from day one. Neither lender offers a variable-rate personal loan product. This is the standard for consumer personal loans in the U.S., as variable-rate personal loans are uncommon among direct online lenders. Source: sofi.com; upstart.com.
Checking your rate (pre-qualification) at both SoFi and Upstart uses a soft credit pull and does not affect your credit score. A hard credit inquiry occurs only if you proceed to a full loan application after seeing your pre-qualified rate. Soft-pull pre-qualification is standard among online personal loan lenders and allows you to compare real rate offers from multiple lenders without any credit score impact. The CFPB recommends rate shopping within a short window to limit hard inquiry impact. Source: CFPB (consumerfinance.gov).
Independent editorial comparison. ClearValue Lending is not the issuer of any product compared here; affiliate links may pay a referral commission at no cost to you — selection is independent of compensation.