Avant review: Personal loans for people with low credit scores, but you’ll pay a high interest rate

Avant review: Personal loans for people with low credit scores, but you’ll pay a high interest rate

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Should you use Avant?

How Avant works

Avant provides personal loans through WebBank (Member FDIC), a state-chartered industrial bank. Avant offers both secured and unsecured personal loans, but we're focusing on the company's unsecured personal loan options. Unsecured loans are more common with Avant and with competing lenders.

An unsecured personal loan doesn't require any collateral, such as a house or car. These personal loans can be used for a variety of purposes.

Avant loan amounts range from $2,000 to $35,000. The minimum amount you're required to borrow varies by state. Avant offers loans to all 50 states and Washington, DC. 

The minimum loan term is 24 months, and the maximum term is 60 months. You can pay off Avant loans in full at any time without incurring an early payment penalty.

Depending on your credit score and annual income, your APR will range from 9.95% to 35.99%, which is higher than some other major competitors' APR ranges. For example, Best Egg's range is 5.99% to 29.99%,