Avant Personal Loans Reviews | Green Day Online
Avant is an online lender offering personal loans to people with good credit. These loans are originated from Avant using WebBank, an FDIC-member state-chartered bank.
Pros
- Fair credit is required to be able to borrow the funds.
- Application for prequalification with soft credit
- It is possible to have funds transferred into your bank account within the next business day.
Cons
- Maximum APR of high magnitude
- There may be an upfront fee for loan administration
Here are some things you should know about Avant personal loans
Avant borrowers have credit scores ranging from 600 to 700. However, the lender claims that its loans are “suitable for a wide range of customers.”
Avant personal loans can be used for many purposes, including credit card debt consolidation, home improvement projects, and emergency expenses. Before applying for a personal loan, read our Avant review.
Prequalify without affecting your credit scores
You may be able to apply for prequalification even if you have low credit scores. Avant may conduct a hard inquiry if you proceed with your application. This could result in a decrease in your credit score. Your final loan term and rates could change.
Fast funding available
Avant can provide quick personal loan funding if you require fast money. Loan approval deadlines are weekdays at 4:30 pm Central Time.
However, keep in mind that it might take longer depending on which bank you use to access your money.
Maximum interest rates of high magnitude
Avant interest rates can vary from one state to the next, but you might not be eligible for the best rates depending on your credit score. Avant personal loans have high maximum interest rates, so it is important to compare other personal loan options before deciding.
Late payment and administrative fees
Be aware of fees. Avant might charge an administration fee of up to 4.75 percent.
Late payment fees are another thing to be aware of. Avant will charge $25 for late payments if Avant does not receive your loan payment within ten days.
Who are Avant personal loans good for?
Avant is an excellent option for those with good credit who need to get money and want to prequalify quickly. Flexible repayment terms are essential for people who need a personal loan. They can choose between terms of 24 to 60 months. Avant is not the best option if you aren’t eligible for the maximum APR. You should look at other lenders.
Avant: How do you apply?
Avant allows you to prequalify online with no hard credit checks. This means that your credit score won’t be affected by checking your rates. Fill out the following information to check your rates:
- Full name
- Address
- Monthly housing costs
- Date of birth
- Contact information
- Social security number
- Information about income
- Monthly net income
- Lending purpose
- The amount of the loan
- Credit range
Prequalification allows you to choose an Avant offer and submit your application within minutes. If you are approved Monday through Friday between 4:30 pm Central Time, your loan funds may be in your bank account the next business day via direct deposit. Keep in mind that your final approval could differ from what you received as prequalification.
Are you unsure if Avant is right for you? These are some alternatives
- Discover personal loans: If you are looking for a personal loan with no origination fees.
- Upstart: A personal loan from Upstart may be the right fit for you if your credit score is not too high.
Compare your options
Use Green Day Online’s online calculator to determine better the cost of any personal loan you are considering. Simple loan calculator.
The loan calculator will help you calculate your monthly payment, as well as how much interest and principal you would pay over the term of the loan.