Personal Loan Reviews Advertiser Disclosure

Avant

4.3 out of 5 stars
1911 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

4.5 5

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Most Helpful Positive Review

Sep 26, 2016
Know what you're paying!
btrials Borrower

I currently have a $10,000 loan through Avant.  They were really the only company that considered with my low 600's score initially and knew from the beginning the high 29.97% interest but knowing I had some money coming in sooner or later I knew I can pay this off without paying the full interest.  I see too many complaints about the high interest fee.  You need to know how to calculate the daily interest rate (accured).  For example, if my loan is $10,000, after 30 days, I already racked up $246 in interest alone!  That means my $423 or so in payments, over half will go into interest.  Next month as the principal amount goes down, about $2 go down in interest.  Accrured Interest = (Daily Interest Rate) x (Days Since Last Payment with Interest) x (Current Outstanding Balance).  So this means you pay $177 only for the principal at 30 days leaving you a principal balance of $9,823.  Each day counts here!  But say instead of the $423, you double the payment for $846.  The interest is still $246 but you just paid $600 in principal balance leaving you $9,400.  While still high your interest will go down by $10 the next month.  Even better if you can pay that extra amount BEFORE the end of 30 days when your payment is due.

With that said, if you have means of paying extra each day, week or month, do so.  The more you can knock down on the principal balance the faster you'll be able to pay off this loan.  I would say if your FICO is low but can get approved just know how much it's going to cost you to take out this loan unless you have excellent credit (which you probably wouldn't be looking at Avant).  

I deducted one star for the lack of clear definition and how the interest is calculated as much as the customer service people were nice.  They need to provide examples (both visual and written) so people can see how this loan will benefit them (or not).  When someone (like most people) without a knowledge of how daily interest is calculated it gets confusing really fast.

I'll be paying this off with my bonus but initially did this to pay off my credit card debt (for high FICO) and also Avant's loan is listed as installment loan so it won't show up as one of those debt consolidation loan that "may" affect the way the FICO is calculated.  

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Most Helpful Negative Review

Sep 13, 2016
Avoid like the Bubonic plague.

Difficult approval. And when approved. I recieved $4,700.00. Dismal Customer Service. Switched Dates on Payments. And didn't help my credit score much. Do yourself a favor. Find another online lender with reasonable APR's and interest rates. Avant is for bottom feeders.

LENGTH

30months

APR

59.0%

PAYMENT

$300.01/mo

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These reviews were written by current and former borrowers in the last year.

Feb 18, 2017
Great, fast loan

I am building my credit, needed a little bit of extra money and saw other reviews saying how Avant helped them and gave them a loan when their credit was less than worthy. I had around a 630 and was approved for a loan. I am one month away from paying off my loan 2 years early. (Thinking and hoping that will help my credit faster)!! My interest rate was high, 20%! Which is why I wanted to pay sooner than later as well. I only pay 500 in interest as opposed to 1500. If this helps my credit score jump and gives me a lower interest rate, I will get another loan through avant! We have a kitchen remodel that I would love to start sooner than later and will need a loan to help out. Fingers crossed for a much lower interest rate! Forgot to mention that after application acceptance I had my loan money in my account and ready to use in less than 3 days! Thank you avant!

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Feb 17, 2017
Personal Loan
Rockie9900 Borrower

The loan process was great, and the loan was fair.

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Feb 17, 2017
Definitely WORTH Getting!
KatLyann Borrower

I applied today and was approved the same day after upload several documents such as bank statements, Driver's license, and verify other information. The payment plan is very understanding and simple. I can't add much to this review since I just applied but the process was not fustrating as other applications or processes. I recommend this loan to anyone and BEWARE applying for OneMain Financial (the decision online isn't necessarily the right answer since what they dont tell you is that you need collateral)

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Feb 17, 2017
Easy to apply
Anonymous Borrower

When you are in a credit rebuilding situation or needing to consolidate numerous cards into one payment this is a great company to work with. I had a few quwstions and one problem with the application and the customer service was by far some of the best customer service I have ever recieved from anybody.

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Feb 16, 2017
hooray
Anonymous Borrower

Avant gave me another chance... thank you

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Feb 16, 2017
Great
Anonymous Borrower

Avant gave me a chance.

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Feb 16, 2017
Pay bills
Anonymous Borrower

Pay credit card

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Feb 16, 2017
Anonymous Borrower

Very helpful for my situation

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Feb 15, 2017
Exellent.....
Anonymous Borrower

Credit Karma recommendation odds, fair. I applied with Fico of 620 and history of Chapter 7. Got an approval in 24hours and money in account in 24hours after the approval. Very smooth process. ....Thank you Avant

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Feb 15, 2017
Anonymous Borrower

The hellp very  much

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.