Avant Personal LoansClaimed
in Personal Loans from Avant LLC
Would you recommend Avant Personal Loans to your friends?
Thanks for your vote!
You voted: May or may not recommend
Avant Personal Loans Review
Avant Personal Loans is offered by Avant LLC, a financial services company founded in 2012 and based in Chicago, IL. It is made possible by a bank partnership with WebBank. Avant Personal Loans is available in 41 states (and Washington, DC).
- Fast access to cash. In some cases you can get your money within 1 business day.
- Fair credit accepted. The credit score needed for Avant Personal Loans is relatively low. Borrowers with a credit score as low as 580 may qualify for Avant Personal Loans.
- Minimum income of $20,000. You will need an annual income of at least $20,000 to apply for Avant Personal Loans, which is below average for the lenders in our database
Avant Personal Loans Pros and Cons:
What rates and terms does Avant Personal Loans offer?
What APR rate does Avant Personal Loans offer?
Avant Personal Loans 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 Personal Loans?
Loan amounts start at $2,000 and go up to $35,000.
What can a personal loan from Avant Personal Loans be used for?
Personal loans from Avant Personal Loans 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 Personal Loans?
Avant Personal Loans 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 Personal Loans charge?
Does Avant Personal Loans charge an origination fee?
Avant Personal Loans may charge a loan origination fee of up to 4.75% of the loan amount.
Does Avant Personal Loans charge a late fee?
Yes, Avant Personal Loans may charge borrowers a late payment fee of up to $25, which is triggered if you're 10 days late.
Does Avant Personal Loans charge prepayment fees?
No, Avant Personal Loans 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||up to 4.75%|
|Late Payment Fee||$25|
What do you need to qualify for Avant Personal Loans?Applicants with a credit score of at least 580 and up to 740 are eligible for Avant Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
To qualify for personal loans with Avant Personal Loans, applicants need a minimum annual income of $20,000 or higher. Avant Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Avant Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Avant Personal Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
|Bank Account Required?||Yes|
|Application Types Accepted||
|Credit Score||580 - 740|
What is the estimated funding time for a personal loan via Avant Personal Loans?
Avant Personal Loans will typically provide a credit approval decision in less than an hour and fund the loan within 3 business days.
Does Avant Personal Loans report your account activity to credit bureaus?
Avant Personal Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Rhode Island
- South Dakota
|No Prepayment Fee|
|Late Fee After||10 days|
|Late Fee Amount||$25|
|Origination Fee (%)||Up to 4.75%|
|Checking Account Required|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||Individual Applications|
|Minimum Annual Income||$20,000|
|Supported Income Types||
|Verification Documents Required||
|Credit Score Range||
580 - 740
|Approval Speed||0 hours|
|Credit Bureau Reporting||
|Funding Time Range||1 - 3 days|
|Pre-Approved Soft Credit Inquiry|
|Loan Amount||$2,000 - $35,000|
|APR (Fixed APR)||9.95% - 35.99%|
|Loan Term||24 - 60 months|