Overview
Loans with interest charges on the Upstart platform will accrue daily interest on the unpaid principal balance. If you make a late payment, it can impact how much of your payment goes toward interest versus principal, potentially leading to a higher final payment.
Note: Relief Loans do not have interest charges, so this article does not apply to that product.
How Interest is Affected by Late Payments
✔ Daily Interest Accrual – Since interest accrues every day, a late payment results in more days of accrued interest.
✔ Impact on Monthly Payments – If your AutoPay payment is scheduled past your due date each month, a larger portion of your payment may go toward interest instead of principal.
✔ Final Payment May Be Higher – Because more interest accumulates over time, your last scheduled payment may be higher than originally expected.
Estimating Additional Interest
If you’d like to know the approximate daily interest accrued on your loan, please contact our customer support team for assistance.
Late Payments and Credit Reporting
It is important to note that late payments may have an impact on your credit score. Please refer to the Late Payments: What Happens and How to Avoid Them article for more information.
Next Steps
To minimize additional interest costs, ensure that your payments are made on or before the due date each month. You can also enroll in AutoPay to help avoid delays.
📌 Related Articles:
Understanding Your Loan’s Due Date and Payment Scheduling Options
How to Schedule a Payment