Apply of the Avant Personal Loan

Just because you want to borrow money doesn't mean that you are qualified for a loan. Avant Personal Loans is a great loan option for people with fair to good credit.

Avant Personal Loan
Source: Avant Personal Loan

Meaning, it is good for people who have a low risk of defaulting on their loan. If you are qualified for a personal loan, you should consider Avant Personal Loans – especially if you meet the following criteria:

Minimum credit score required: Applicants need to have a credit score of at least 580 – which is relatively low and is considered a good starting point to those who have bad credit histories or newbies.

Income requirements: Avant Personal Loans are perfect for middle-income borrowers as they require applicants to have an annual income of $40,000 to $100,000. But there are possibilities that they may require lower than that depending on the loan purpose.

Avant Personal Loans Interest Rates and Fees

Interest Rate:  Avant Personal Loans charges an interest rate between 9.95% to 35.99% depending on the qualification of borrowers and their good credit standing.

Origination fees: Fortunately, Avant Personal Loans doesn’t charge any origination fees to borrowers.

Late payment and prepayment fees: The late payment fee of Avant Personal Loans is $25 which is charged to borrowers who forgot to pay their dues within 10 days of scheduled payments. On the other hand, borrowers from Idaho and Oregon has to pay 5% of the principal amount or $5 – whichever is higher, for a late payment fee. Luckily, Avant Personal Loans doesn’t charge any prepayment penalties so you can pay off your loan without any other additional costs.  

Additional fees: Avant Personal Loans has additional fees including administrative fee where they charge 4.75% for unsecured loans. Also, Avant Personal Loans have a dishonored payment fee of $15 charged to borrowers who has returned payments.

What people are saying about Avant Personal Loans?

Lenders are a necessary part of the financial world. They are there to help people who need a loan to complete a purchase, purchase a home, or even start their own business. Avant Personal Loans is a lender that is perfect for people who are middle-income borrowers. With flexible repayment plans, Avant Personal Loans is somehow easy to get approved for. The lender also has a variety of loan options that you can choose from, including loans for medical bills, home renovation, and consumer loans – which makes Avant Personal Loans perfect for borrowers who need a loan but can’t afford too much.

How to apply for Avant Personal Loans?

Applying for Avant Personal Loans is easy but you first have to make sure that you are an eligible borrower according to some requirements posted on their official website. To check your eligibility, provide some personal information and how much you wish to borrow. Don’t worry about affecting your credit score because this is just a soft credit check.

Assuming that you are qualified, Avant Personal Loan will let you move upon the verification process that involves submitting documents. Once done, they will approve your application and you can receive your funds straight to your bank account.

Frequently Asked Question about Avant Personal Loans

  • Can I receive my funds right away?

Unfortunately, no. Avant Personal Loans are typically funded the next business day, noting that the applicant got approved before 4:30 pm on a working day.

  • Which is better Avant Personal Loans or SoFi personal loan?

If you want a higher loan amount that can go up to $100,000, you should go with SoFi. The latter also beat Avant Personal Loan’s interest rate which can only go up to 20%.

Final thoughts

Avant Personal Loan
Source: Avant Personal Loan

Personal loans are a way to borrow money for personal or business use. They can be used for anything from paying off debt to buying a car or a house. They are also a way to build credit so that you can purchase something bigger later. However, there are some things you should know about personal loans. For example, personal loans come with interest, so the amount that you borrow could end up being more than the value of the purchase you are making.

Avant Personal Loans has a medium to high APR which cannot be good to some people who wants a cheap personal loan without any recurring fees. All in all, Avant Personal Loans is a personal loan company that offers quick, easy, and high amount personal loans.