Avant 2026 Personal Loan Review
Avant personal loans are a smart choice if you have less-than-perfect credit and need fast funding.
- Have fair or bad credit or a thin credit file.
- Want to pre-qualify with a soft credit check.
- Need fast funding.
- Want to avoid an origination fee.
- Prefer to directly pay your creditors.
- Want a co-signed, joint or secured loan.
What to know about Avant personal loans
Avant offers personal loans to borrowers across the credit spectrum and is one of our picks for the best loans for bad credit. The lender accepts borrowers with fair and bad credit, as well as those with a thin credit file, and it also has less stringent income requirements than many of its peers.
Some lenders require a credit score in the mid- to high-600s, but Avant accepts borrowers with scores as low as 550. The lender also requires at least $1,200 in monthly after-tax income, which works out to $14,400 annually.
I appreciate that Avant is transparent about its requirements. Many lenders don’t publish minimum credit scores or incomes, but Avant clearly discloses its basic requirements on its website, and it shared details about its typical borrower with NerdWallet.
Avant told us that its average borrower has a credit score in the mid-600s and annual income above $50,000. These averages are substantially higher than its baseline requirements, so keep in mind that meeting the lender’s minimums doesn’t guarantee approval. Fortunately, you can check your eligibility by pre-qualifying with no impact to your credit score.
Annual percentage rates are on the high side, ranging from 9.95% to 35.99%. The average Avant borrower has fair credit and gets an APR between 25% and 25.99%. That’s not surprising to me, given that borrowers with fair or bad credit tend to pay higher APRs.
Avant loan amounts start at $2,000 and go up to $35,000, with repayment terms of two to five years. These ranges are broad enough to cover a variety of financial needs. However, if you’re financing a major expense, like a home project, some lenders offer personal loans of $50,000 or higher. If you need to borrow for a relatively small one-time expense, you can find lenders with shorter repayment terms and minimums of $1,000 or less.
» MORE: Compare the best personal loans
What we like most about Avant
- You may qualify if you have bad credit or a limited credit history: Avant has a minimum credit score of just 550. There’s also no minimum number of accounts or length of credit history needed to qualify for a loan.
- You can pre-qualify with a soft credit check: Avant lets you pre-qualify for a loan without hurting your credit score. If you pre-qualify, you can see basic loan details, including your potential loan amount, rate, repayment term, monthly payment and total interest cost. You may also receive multiple loan offers to choose from.
- You can get your funds in as little as one day: Avant provides an instant application decision, and loans can fund as soon as the next business day. While some lenders offer same-day funding, Avant’s timeline should be fast enough for most situations.
Why Avant may not be right for you
- You’ll pay an origination fee: Avant charges an upfront origination fee of up to 9.99% of the loan amount. Not all lenders charge an origination fee, but it’s common with online lenders and typically ranges from 1% to 10%. Like most lenders with an origination fee, Avant deducts the charge from loan funds, so you’ll receive less money than you borrowed.
- You can’t directly pay your creditors yet: Unlike many lenders, Avant doesn’t give you the option to directly pay your creditors if you’re using your loan for debt consolidation. (Avant told NerdWallet it plans to add this feature in the next few months. We’ll update our review when it’s available.) Sending payments directly to creditors can streamline your debt payoff and eliminate the temptation to spend your loan funds.
- You can’t get a joint, co-signed or secured loan: Avant only offers unsecured personal loans. You can’t add a co-borrower or co-signer to your application or get a secured loan using collateral, like a savings account or vehicle. These options can sometimes help you qualify for a loan or lock in better terms if your credit is shaky.
How much does an Avant personal loan cost?
The total cost of your Avant loan depends on the amount borrowed, annual percentage rate and loan term. Here is an example of how different rates affect the costs of a $10,000 loan with a 3-year term. The lender told NerdWallet its average borrower gets an APR between 25% and 25.99%.
APR | 15% | 25% |
|---|---|---|
Monthly payment | $347 | $398 |
Total interest cost | $2,479 | $4,314 |
Total loan cost | $12,479 | $14,314 |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a Avant personal loan?
It’s possible to qualify for an Avant personal loan with a credit score of 550 or better and monthly after-tax income of $1,200. Keep in mind, though, that these are just the lender’s minimums. The average Avant borrower has a credit score between 630 and 689 (fair credit) and annual income between $50,000 and $99,999.
Avant doesn’t have a maximum debt-to-income ratio, but DTI is likely a factor when you apply. The lender told us a high DTI ratio and requesting too large of a loan are the most common reasons applications are declined.
Where you live also affects whether you qualify. Avant offers loans in 44 states and Washington, D.C. They aren’t available if you reside in Hawaii, Iowa, Maine, Massachusetts, Washington and West Virginia.
Avant lets you pre-qualify with a soft credit check. It’s always a smart move to pre-qualify with several lenders to be sure you get the best terms available. If you accept a loan offer, Avant will conduct a hard credit check, which temporarily drops your credit score by a few points.
Avant’s borrowing requirements
- Minimum credit score: 550.
- Minimum income: $1,200 monthly after-tax ($14,400 annually).
- Maximum debt-to-income ratio: None.
- Minimum credit history: No minimum length of credit history or number of accounts.
- Must be at least 18 years old.
- Must have a Social Security number, a U.S. bank account and an email address.
Profile of an average Avant borrower
Compared to many lenders, Avant has flexible qualification requirements. But the average borrower has a credit score and income well above the lender’s minimums. Here’s what Avant told us about its average borrower:
- Average loan amount: $10,000 to $20,000.
- Average APR: 25% to 29.99%.
- Most common loan term: 3 years or 5 years.
- Most common loan purposes: Debt consolidation, home improvement, emergency expenses, vacation, wedding or major life event, credit card refinancing, moving/relocation, car repair.
- Average borrower’s credit score: 630 to 689.
- Average annual income: $50,000 to $99,999.
- Average borrower’s debt-to-income ratio: 31% to 70%.
» MORE: How to get a personal loan
Frequently asked questions
Q: Does Avant let me choose my payment date?
A: Avant doesn’t let you choose your payment date when you sign your loan agreement, but you can change it up to two times during the life of the loan by calling customer service. Avant says it offers 24/7 customer service.
Q: Does Avant have hardship accommodations?
A: Yes, Avant has several hardship options for borrowers who are struggling financially, including payment deferment or reduction, loan modifications, settlement, a grace period and change of payment date.
Q: Does Avant report payment history to credit bureaus?
A: Yes, Avant reports payments to the three main bureaus, Equifax, Experian and TransUnion. Consistent, on-time payments can help boost your credit. Avant says some customers can track their credit scores in its mobile app.
Q: What’s the difference between the APR and interest rate on a personal loan?
A: A personal loan annual percentage rate (APR) is the combined total of the interest rate plus the origination fee, calculated on a yearly basis and expressed as a percentage.
APR is important because it shows you the full cost of borrowing over one year. It’s usually the best point of comparison if you’re comparing multiple personal loan offers.
How does Avant compare to the best lenders?
 |  |  |  |  |
|---|---|---|---|---|
Est. APRFrom 9.95% to 35.99% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 5.96% to 35.99% | Est. APRFrom 7.24% to 24.89% | Est. APRFrom 7.74% to 35.99% |
Loan amountFrom $2,000 to $35,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 |
Min. credit score550 | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 | Min. credit score600 |
How we rated this lender
NerdWallet’s editorial team rates lenders using a rubric with five weighted categories and 29 subcategories. Here are the factors we prioritized, plus why this lender received each score.
Avant’s maximum APR is just under 36%, but it charges an origination fee.
Our Method: We review lenders’ rates and fees, plus any opportunities for rate discounts.
Avant has customer service available seven days a week and reports payments to all three credit bureaus. Hardship accommodations are also available.
Our Method: We look at factors such as customer service availability, monthly payment flexibility and whether the lender reports on-time payments to major credit bureaus.
Avant offers small and medium unsecured loans with four different repayment terms. You can’t get a joint or secured loan, and direct creditor payments aren’t currently available.
Our Method: We assess loan amount and term ranges and whether lenders offer multiple loan types or direct payment to creditors on debt consolidation loans.
Avant lends to borrowers across the credit spectrum and offers pre-qualification with a soft credit check. Loans are available in 44 states and Washington, D.C.
Our Method: We consider how widely available and accessible the loans are and how lenders review applicants’ credit.
Avant gives you an instant decision, and loans fund as soon as the next business day. Loan terms are clearly disclosed on the lender’s website.
Our Method: We evaluate loan approval and funding times and the lender’s transparency throughout the application process.
Read more about our ratings methodologies for personal loans.
Learn more about personal loans
