Avant personal loans make borrowing possible, even if your credit isn't great. Avant's flexible repayment terms and quick funding make it a strong choice for many borrowers, particularly those looking for debt consolidation loans for bad credit. Find out if it's right for you in our Avant personal loans review.
|Lending Partner||Best For||Min. Credit Score||Loan Amounts||APR Range|
Rating image, 4.0 out of 5 stars.
4.0 starsWe want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
|Best For: Borrowers with poor credit scores||Min. Credit Score: 580||Loan Amounts: $2k - $35k||APR Range: 9.95% - 35.99%|
This personal loan is a good fit for: Those with low credit scores looking for quick funding and flexible personal loan terms.
Soft credit inquiry: There's no need to commit to Avant to find out your options. Avant will conduct a soft credit inquiry and let you know what your interest rate will be. Unlike a hard credit inquiry, a soft credit inquiry won't negatively impact your credit score.
Available loan amounts: Many lenders have higher lending limits, which makes Avant's $2,000-$35,000 especially attractive. If you only need enough money to make a small home or auto repair, there's no reason to borrow more.
No prepayment penalty: Let's say you earn a bonus at work or otherwise come into extra cash. Avant doesn't charge a prepayment penalty, which makes it easier for you to pay your loan off early.
Easy to qualify: Borrowers with credit scores as low as 580 can get approved for a personal loan, provided they meet the income requirements.
Funding time: Most loans are funded by the next day. That means you won't have to wait long if you have an emergency situation that requires cash.
Loan terms: Loans terms are available from 24 to 60 months. That gives you flexibility. If you choose a longer repayment term, you'll have a lower monthly payment but you'll pay more in interest over the life of the loan. If you're looking for the best loans to consolidate credit card debt, being able to extend payments out for as long as 60 months may be an attractive feature. Still, try to weigh how much interest you will pay by the time your loan is paid in full.
APR range: Avant's APRs can be high, depending on your situation. If your credit is not so hot, the high APR and fees can make it an expensive way to borrow money.
Origination fees: Avant charges what it calls an "administration fee" of up to 4.75% of the loan amount. How much you'll pay is based on your credit rating. The highest origination fees are charged to those with the lowest credit.
Applying for an Avant personal loan is quick and easy.
Regardless of your credit score, take the opportunity to check loan offers from several lending partners. Here are some other loans worth your consideration:
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2021 The Ascent. All rights reserved.