Avant offers access to personal loans with a process that is almost entirely online. Continue reading the review to find out if Avant will benefit you.
Avant understands that getting credit with a traditional bank loan can require a lot of up front paperwork and be extremely time consuming.
They also know that you don’t want to resort to a loan with payday high rates.
With Avant’s quick application and friendly customer service, you could have the credit you need as soon as tomorrow morning! Apply today!
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Avant Information
Lender | Avant |
APR | 9.95% – 35.99% |
Loan Amount | $2,000 to $35,000 |
Term Length | 2 to 5 years |
Origination Fee | 0% – 4.75% |
Prepayment Fee | None |
Late Fee | $25 |
NSF Payment Fee | $15 |
Minimum Gross Income | $20,000 |
Minimum Credit Score | 580 |
Repayment Options | Monthly |
Avant Personal Loan Eligibility
To qualify for an Avant personal loan, all applicants must have:
- A minimum credit score of 580
- A gross income of at least $20,000
- One year of credit history
Avant does charge a late fee of $25, however, the lender has a “late fee forgiveness” feature.
Avant can reimburse the late fee charge if the borrower makes 3 consecutive payments on time after the first missed payment.
Pros and Cons of an Avant Personal Loan
- You don’t need to own a home to apply.
- The application is simple and easy to follow.
- Initial credit check will not affect your credit score. However when your loan is approved, it will show up on the report.
- When approved, funding takes as little as one business day.
- A personal loan from Avant can be used towards debt consolidation, home improvement and other expenses.
- There are no prepayment fees.
- They have a late payment grace period: if you manage to make 3 consecutive on-time payments, then Avant can refund your late fee amount.
- Avant can help you rebuild your credit.
- Avant is not available in all states. They are not available in Iowa, Colorado or West Virginia.
- If you fail to make a payment in more than 10 days, There is a late payment fee of $25.
- If your payment gets rejected, you might be charged another $15 fee for unsuccessful transaction.
- There is a check processing fee of $15 if you choose to write a check for your payment instead.
- You can only make payments online.
How To Apply For Avant Personal Loan
- Fill out the online application. You will need to provide your personal information such as your name, address and social security number. Checking your rates does not impact your credit score
- If you meet their initial eligibility criteria you will have a list of loan terms that you can choose from after you elect an amount you would like to borrow. Depending on your credit report, you may have more options.
- Avant will then ask you to provide your bank information to receive the funds.
- After providing your bank information, you may be required to submit additional information and provide documents to verify your income and identity.
Bottom Line
Avant is a great source when you’re in a situation where a personal loan is needed.
Avant encourages their customers to use their loans towards debt consolidation, but they also understand needing loans for various other expenses.
They are nice enough to give a grace period that is designed for people to learn to pay on time. If you can make 3 consecutive payments then you can pay on time from now on.
Are you interested in this personal loan from this lender? Please let us know in the comment section below on your experience!
If you want to search for more options on taking out the best personal loan, check out our full list of Best Personal Loans.
(Visit Avant for more details)
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