Avant vs. LendUp: Which Is Right for You?

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Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

avant and lendup which loan is better for you

Getting a personal loan with a low credit score can be tough. Many lenders won’t consider you eligible if you fall into that “poor” credit range. But don’t worry.

There are some personal loan companies, such as Avant and LendUp, that have loan options for those with less-than-stellar credit. But, between Avant and LendUp, which loan is better for you? Consider these important factors.

Avant personal loans

Avant provides unsecured fixed-rate personal loans. With this type of loan, you could refinance credit card debt, borrow money for a home improvement project, or pay for unexpected expenses.

The application for a loan is completed online, making the process fast and easy. But before applying, you’ll want to consider some pros and cons.

Pros of Avant loans

Not only will Avant consider your application even if you have a low credit score, but working with this lender has other benefits.

  • You can get your money after one business day.

  • There are no prepayment fees.
  • Although the average customer has a credit score between 600 and 700, those with poor credit are also considered.
  • The company has a 95% customer satisfaction rate.

Cons of Avant loans

Although there are many benefits, you should consider these drawbacks.

  • APRs range from 9.95% to 35.99%, as of April 18, 2018. Some other personal loan lenders, such as Best Egg, offer lower rates. But be sure to double-check Avant’s website for the latest rates.

  • Installment loans come with an administration fee of 1.5% to 4.75% of the total loan amount.

  • Avant loans aren’t available in every state.
  • Interest rates are dependent on your financial profile and credit score. So, even if you’re eligible with a low score, you could face up to a 35.99% APR.

LendUp personal loans

While LendUp provides its customers with cash in a pinch, its products are structured like payday loans. For example, you could borrow $200 with a 14-day repayment period and high interest rate.

Pros of LendUp loans

The biggest benefit of LendUp is the ability to get money fast. But there are some other positives as well.

  • There are multiple options if you’re having trouble paying back the loan.

  • Repeat customers can borrow more funds and at lower rates, using their LendUp Ladder program.

  • They offer loans to borrowers with low credit scores.
  • There’s an education platform with free videos and articles breaking down complex financial matters. It also teaches you how to make better money decisions.

Cons of LendUp loans

Although there are some benefits, you should be aware of some major downsides.

  • APRs can reach over 900.00%, as of April 18, 2018. Since their high-end rates are for very short-term loans, you would actually pay just a small fraction of that 900% of principal, but that’s still much steeper interest than on a longer-term loan. Make sure to double-check rates in your state to get a clear idea of the costs.

  • LendUp loans aren’t available in every state.

  • LendUp focuses on smaller, shorter-term loans, so they’re not a good fit if you’re looking for something beyond that. With an installment loan, you can only borrow up to $1,000 with a term up to 12 months.

  • There’s a maximum 30-day term for single-payment loans.

Avant vs. LendUp: Interest rates, terms, and fees

When it comes to Avant and LendUp, which loan is better for you? There are some pretty major differences between Avant and LendUp, especially when it comes to interest rates, terms, and fees. Knowing these will help you make the best borrowing decision.

As you can see from the chart below, Avant and LendUp offer very different loans.

Loan amount Interest rate Fees Term
Avant $2,000 to $35,000 9.95% to 35.99% APR Administrative fee (1.5% to 4.75%); late fee (varies by state); and returned payment fee 24 to 60 months
LendUp $100 to $1,000 APRs range from around 30.00% to over 900.00%, depending on the loan type. Returned check fee ($10); administrative fee ($50 or 5% of the amount financed, whichever is less) 7 days to 1 year

Avant and LendUp: Which loan is better for you?

Both of these companies offer personal loans for people with poor credit. But that’s where the similarities end. Everything from loan amounts to interest rates and repayment terms differ. That’s why it’s important to think about why you’re borrowing money in the first place.

If you need a little bit of cash quickly and were considering a payday loan, LendUp might be the better solution. This lender can be helpful in a situation where you’re short on rent, waiting for your next paycheck to come through, or don’t have the credit for a traditional personal loan.

Be aware though, short-term loans carry high interest rates: If you borrowed $200 from LendUp for two weeks, you’d owe $235, which works out to an APR of more than 400%.

Meanwhile, Avant is the better option if you need more money and want a longer-term loan. You can still get a loan if you have a lower credit score, too. Your interest rates will just be higher.

If you have good credit, you could get a better interest rate with Avant. That could be helpful if you’re using the money to refinance or consolidate debt. Just know that there are many personal loan companies with similar offerings. So, shop around before settling on one.

Note: Student Loan Hero has independently collected the above information related to these loan products. Avant and LendUp have neither provided nor reviewed the information shared in this article.

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal Loans: Fixed rates from 5.950% APR to 14.740% APR (with AutoPay). Variable rates from 5.825% APR to 14.365% APR (with AutoPay). SoFi rate ranges are current as of May 18, 2018, and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.825% APR assumes current 1-month LIBOR rate of 1.90% plus 4.175% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 4.99% – 16.24% (4.99% – 16.24% APR) based on applicable terms. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

* Important Disclosures for Upgrade Bank


Upgrade Bank Disclosures


  • Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.
  • Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

7.73% - 29.99%$1,000 - $50,000
Check rate nowon SLH's secure site
5.83% - 14.74%1$5,000 - $100,000
Check rate nowon SLH's secure site
5.96% - 35.97%*$1,000 - $50,000Visit Upgrade
8.00% - 25.00%$5,000 - $35,000
Check rate nowon SLH's secure site
4.99% - 29.99%$10,000 - $35,000Visit FreedomPlus
4.99% - 16.24%2$5,000 - $50,000Visit Citizens
15.49% - 34.49%$2,000 - $25,000Visit LendingPoint
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.49% - 18.24%$5,000 - $75,000Visit Earnest
9.95% - 35.99%$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.