Both Avant and Upgrade offer personal loans with similar APR ranges and origination fees. Upgrade stands out with potentially lower rates for Autopay and direct payment to creditors, longer loan terms, and a higher loan amount ceiling. Avant offers more customer service options and a slightly lower minimum credit score requirement. The best choice depends on the borrower's specific needs and qualifications.
| Attribute | Avant Personal Loans | Upgrade Personal Loans |
|---|---|---|
| Loan amounts | $2,000 to $35,000 (minimum loan amounts may vary by state) | $1,000 to $50,000 (minimums vary by state: HI - $1,505, GA - $3,005, MA - $6,600) |
| APR range | 9.95% to 35.99% (actual loan terms may vary based on credit, state law, and other factors) | 7.99% to 35.99% (lowest rates require Autopay and paying off existing debt) |
| Credit score requirements | Minimum 550, but most borrowers have scores between 600 and 700 | Minimum 580 (FICO score version 9 from TransUnion) |
| Loan terms | 24 to 60 months | 24 to 84 months |
| Origination fees | Up to 9.99% (or up to 4.75% depending on the source), deducted from loan amount | 1.85% to 9.99% (deducted from loan proceeds) |
| Late payment fees | $25 (application may vary among products serviced by Avant) | $10 (if payment not received within 15 calendar days of due date) |
| Prepayment penalties | None | None |
| Funding time | As soon as the next business day if approved by 4:30 p.m. CT Monday-Friday | As soon as one business day after approval (funds to creditors may take up to 2 weeks) |
| Debt consolidation options | Available | Available with direct payment to creditors (may qualify for 1-3% rate reduction) |
| Available discounts | No discount for autopay | Autopay, Direct Pay (1-3% rate reduction if at least half the loan funds are sent to other creditors), Rewards Checking (up to 20% off for multiple Upgrade products) |
| Customer service channels | Phone, chat, email, and mobile app, available seven days a week | Not available |
| Mobile app availability | Yes, for managing loans and payments | Yes (4.7 stars on Google Play from 23,500 reviews, 4.9 stars on Apple App Store from 50,800 reviews) |
| Price | Not available | Not available |
| Ratings | Not available | Mobile App: 4.7 stars (Google Play), 4.9 stars (Apple App Store) |