how does upwards loan work and what are the typical interest rates and tenures?
upwards is an RBI-registered non-banking financial company (NBFC). it provides personal loans to salaried employees. the entire process takes place through its mobile application. the platform uses data-driven methods to evaluate applicants.
the company was established in 2017. lendingkart acquired it in 2023. the upwards brand continues under its own name.
key loan terms
| feature | details |
|---|---|
| loan amount | ₹25,000 to ₹5,00,000 |
| interest rate (annual percentage rate) | 16% to 36% per annum |
| repayment tenure | 6 to 36 months |
| processing fee | 2% to 4% of the loan amount |
| eligibility | salaried professionals |
how the application process works
the upwards loan process is designed to be quick and paperless. the application happens in three simple steps:
step 1: check eligibility. the applicant provides basic details online. the system checks eligibility instantly without affecting the credit score.
step 2: complete KYC. the applicant completes know your customer (KYC) verification digitally. no physical documents are required.
step 3: receive funds. once approved, the loan amount is disbursed directly to the bank account. approvals happen quickly after verification.
interest rates and fees
interest rates on upwards loans vary between 16% and 36% per year. the actual rate depends on the applicant's credit history, income level, and loan size.
the lender takes a processing fee of 2% to 4% before releasing the funds. the borrower receives the approved amount after this deduction.
repayment tenures
upwards offers flexible repayment tenures ranging from 6 to 36 months. the borrower can choose a tenure that fits their monthly budget. longer tenures mean lower monthly equated monthly instalments (EMIs) but higher total interest paid. shorter tenures mean higher EMIs but lower total interest.
eligibility criteria
upwards loans are available primarily to salaried professionals. the average ticket size is ₹1.5 lakh. eligibility depends on factors like income stability, credit score, employment history, and repayment capacity.
the platform's underwriting engine uses over 500 data points to evaluate each application, which allows upwards to approve borrowers who may not meet traditional banking criteria.
what to check before applying
interest rate. rates range from 16% to 36% per annum. the final rate depends on credit profile. borrowers with higher credit scores typically get lower rates.
processing fee. a fee of 2% to 4% is deducted before disbursal. this reduces the net amount received.
total cost. a lower EMI with a longer tenure costs more in total interest. comparing the total repayment amount gives the true cost.
credit score. a higher score improves approval chances and secures better rates. checking the score before applying helps set realistic expectations.
eligibility. the applicant must be a salaried professional. self-employed individuals may not qualify for upwards loans.
frequently asked questions
1. is upwards an RBI-registered lender?
upwards is registered with RBI. this means it complies with RBI regulations and follows fair lending standards.
2. what is the maximum loan amount from upwards?
upwards offers loans up to ₹5,00,000. the actual amount depends on the borrower's income, credit score, and repayment capacity.
3. what is the interest rate for an upwards loan?
the interest rate ranges from 16% to 36% per annum. the final rate depends on the borrower's credit profile and the loan amount.
4. does upwards charge a processing fee?
upwards charges a processing fee of 2% to 4% of the loan amount. this is deducted from the disbursed amount.
5. how long does it take to get an upwards loan?
the process is digital and quick. approval happens after KYC verification. funds are disbursed directly to the bank account.
