Up to about twelve percent in origination fees at Upstart, against about three to eight percent at LendingClub. Here is what separates the two personal loan lenders in twenty twenty-six.
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Chapters
- 0:00 Origination fees up to ~12% at Upstart, ~3–8% at LendingClub.
- 0:12 I. The fee spread
- 0:38 II. How each underwrites
- 0:59 III. Joint applications
- 1:13 IV. Speed and structure
- 1:29 V. The sticker rate
- 1:47 VI. The other routes
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Full transcript
I. The fee spread
In the side-by-side table, Upstart's origination fee runs from zero to about twelve percent, and LendingClub's from about three to eight. Loan amounts run from one thousand to fifty thousand dollars at Upstart and one thousand to forty thousand at LendingClub. Both check rates with a soft pull, and both deduct the fee from the loan proceeds.
II. How each underwrites
The underwriting differs. Upstart's model weighs education, employment and cash flow alongside credit score, and the page lists its floor as very low. LendingClub underwrites the traditional way, with a floor around six hundred and its best pricing above about six forty.
III. Joint applications
LendingClub accepts joint applications and Upstart does not. The comparison calls that LendingClub's differentiator, since a co-borrower with stronger credit can change the price of the loan.
IV. Speed and structure
On speed, Upstart often funds the next day, and LendingClub takes one to three business days. LendingClub pays creditors directly as a core consolidation feature, and it has been a chartered bank since twenty twenty-one.
V. The sticker rate
Because both lenders take the fee out of the proceeds, the page compares fee-adjusted APR on identical terms rather than the advertised rate. Checking a rate at either one is a soft pull, and the page says neither charges for a quote.
VI. The other routes
And the page describes other routes. When both quotes land in the high twenties or more after fees, it points to nonprofit debt management plans with concession rates of six to ten percent. The full comparison is free at Dreamy Leads Research. What state are you in, and what origination fee percentage were you quoted on a personal loan? Tell us in the comments.
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