in Personal Loans from Avant
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Avant is a personal loan offering by Avant, a lending platform based in Chicago, IL. Founded in 2012, Avant offers access to personal loans in 46 states (and Washington, DC).
What rates and terms does Avant offer?
What personal loan APRs does Avant offer?Avant offers a fixed APR personal loan product that ranges from 9.95% APR up to 35.99% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via Avant?
Loan amounts start at $2,000 and go up to $35,000.
What can a personal loan from Avant be used for?
Personal loans from Avant are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with Avant?
Avant offers personal loans with terms ranging from 24 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
|Loan Amount||$2000 - $35000|
|Loan Term||24 - 60 months|
|APR||9.95% - 35.99%|
What fees does Avant charge?
Does Avant charge an origination fee?
Avant charges a loan origination fee of 0% to 4.75% of the loan amount. Avant deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Avant charge a late fee?
Yes, Avant may charge borrowers a late payment fee of up to $25, which is triggered if you're 10 days late.
Does Avant charge prepayment fees?
No, Avant does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
|Origination Fee||0% - 4.75%|
|Late Payment Fee||$25|
What do you need to qualify for a loan with Avant?
Applicants with a credit score of at least 580 can apply for a loan via Avant . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a Avant loan, applicants need a minimum annual income of $20,000 or higher. Avant only considers borrowers who are employed and meet the minimum income requirement.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via Avant. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
- Recent pay stubs
- Proof of income
|Bank Account Required?||Yes|
|Joint Applications Accepted?||Yes|
|Credit Score||580 - 740|
What is the estimated funding time for a personal loan via Avant?
Avant will typically provide a credit approval decision in less than an hour and fund the loan within 3 business days.
Does Avant report loan payments to credit bureaus?
Avant may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
|No Prepayment Fee|
|Late Fee After (number of days)||10|
|Late Fee Amount||$25|
|Origination Fee||0% - 4.75%|
|Credit Score Range||
580 - 740
|Immigration Status Considered||
|Minimum Annual Income||$20,000|
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$2K - $35K|
|Loan Term (Months)||24 - 60|
|APR (Fixed APR)||9.95% - 35.99%|