Best Reviews TopConsumerReviews.com Best Personal Loans Best Reviews
Best Reviews
      November 20, 2019

Home  >  Personal Loans  >  SoFi vs Avant

Best

Personal Loans

  1. LendingClub
  2. SoFi
  3. Avant
  4. 100 Lenders
  5. Money Lion
  6. Prosper
  7. NetCredit
  8. Upstart
  9. Personal Loans
  10. OneMain Financial
  11. LifeLoans
  12. Better Loans Mutual

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!
  • Compare

Your Information Is Secure
Personal Loan Tips Newsletter

Latest Reviews

Ballroom Dancing Lessons

Copyright Registration

Drum Lessons

Home Security Systems

Painting Lessons

PMS Relief

Self Publishing Companies

VOIP Services

Website Templates

Wedding Planning Software

Wedding Websites

Wills

 

Individual Reviews

LendingTree

LendingClub

SoFi

Avant

100 Lenders

Money Lion

Prosper

NetCredit

Upstart

Personal Loans

OneMain Financial

LifeLoans

Better Loans Mutual

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

SoFi vs Avant

Best Personal Loans

To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of SoFi and Avant.

To see ALL of our reviews for the Best Personal Loans, please Click Here

Are you in need of some cash? Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.

Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.

Continue reading below reviews

Best Reviews

2019

Personal Loan Reviews

4.5 stars
SoFi

SOFI Visit Site

Loan:

From $1,000 to $100,000

SoFi, short for "Social Finance", bills itself as a modern personal finance company, and its clean, crisp, easy-to-use website definitely matches that description. And, with more than $11 billion in loans funded to date and 165,000 borrowers (described as "members"), they're clearly making an impact in the lending industry. SoFi currently has a variety of products, including personal loans, mortgage loans and refinancing, student loan refinancing, and more.

SoFi's application process is straightforward: enter your personal information, such as your name and address, current employer and annual wages/salary, and post-secondary education information, and if SoFi is able to confirm your information you'll be able to see the loan and terms for which you qualify. (If they are not able to confirm your data, you will be asked to enter your Social Security Number.)

There is an easy-to-miss link at the bottom of the site called "Eligibility Criteria". We encourage potential borrowers to look through the information there, as several states are excluded from their personal loan program, and there are other state-specific details to be aware of. Also, it states that personal loan recipients must be US citizens or permanent resident aliens, be of the age of majority in their state of residence, and must be currently employed.

We love that SoFi publishes its personal loan rates and that there are no prepayment penalties or origination fees: "what you see is what you get". Their loan rates are consistently very competitive with other loan companies.

Loan terms of 3, 5, and 7 years were available for both fixed and variable interest rate loans, in amounts ranging from $5,000 to $100,000.

SoFi also has several unique perks that we like, from referral bonuses for new members referred by current borrowers (both parties get a cash benefit), to unemployment protection that suspends payments required from borrowers - for up to 12 months over the course of the repayment term - who lose their job through no fault of their own. SoFi even provides help through its Career Strategy department to assist borrowers in their search for a new job!

If you're in the market for a personal loan, you'll definitely want to take a look at what SoFi has to offer. We give them a strong recommendation because of their low interest rates, transparency, and lack of loan fees.

Visit Site

4 stars
Avant

AVANT Visit Site

Loan:

From $2,000 to $35,000

Avant is one of the newest providers in the personal loans market, opening its doors in Chicago in 2012 and receiving its first accreditation with the Better Business Bureau in March 2015. It currently holds a solid A+ rating with the BBB.

Avant provides access to one of the larger ranges of consumer loans available, from $2,000 to $35,000. Loans through the Avant platform include terms from 2 to 5 years. As an example, a $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

Although Avant is relatively new to the online lending business, the Avant platform has already issued more than $1 Billion in loans to over 450,000 customers. With nearly 500 employees working to provide affordable loans to consumers in need, they bring a professionalism and dedication that is welcome to this industry.

There are no extra charges for prepayment of your loan, although late fees may apply if a payment is missed. Customer service is available 7 days a week.

Another feature that we liked with Avant is how quickly they provide access to funds. The Avant platform can often send your money via direct deposit as soon as the next business day‡.

Avant's loan application and approval process is very easy:

  • You provide basic information about yourself, such as your full name and address, income details, and social security number
  • After you receive your electronic loan offer, you digitally sign the contract they send
  • If approved, you could receive your money as soon as the very next business day‡

We're encouraged to see this lending platform enter the marketplace. They've earned a high BBB rating in a very short period of time, and don't charge exorbitant or hidden fees. Combined with the ultra-fast loan application process, Avant easily earns very high marks.

Visit Site

Continued from above

No matter where you borrow money from, before you get your next personal loan you should consider the following:

  • BBB rating. Does the lending company have a solid history of doing good business with its customers?
  • Loan size and rate. How much will the lending company offer? What interest rate do they charge their customers?
  • Loan application process. When applying for your personal loan, can it be completed online? Is the lending process easy and straightforward?

TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!

How a Personal Loan Can Raise Your Credit Score by 20 Points or More

That transparency to you is core to our editorial integrity, which isn't influenced by compensation. Most people who consolidate debt with a personal loan see their credit score go up -- here's why.

Published:  Sat, 16 Nov 2019 13:04:00 GMT



Thinking about a personal loan?

Whether it's time to consolidate high interest debt, tick off that bucket list holiday, pay for your wedding or give your home the facelift it needs, a personal loan is a great option for those ...

Published:  Mon, 18 Nov 2019 21:39:00 GMT



3 Times a Personal Loan Makes Sense

That transparency to you is core to our editorial integrity, which isn't influenced by compensation. When you weigh the cost and benefits, personal loans are a smart play in these three scenarios.

Published:  Wed, 13 Nov 2019 08:51:00 GMT



Legal-Bay Announces Personal Injury Loans at All Time High

Legal-Bay believes plaintiffs shouldn't be left waiting for the money they have coming to them, and is expanding their personal injury loan department in order to accommodate litigants who would ...

Published:  Wed, 13 Nov 2019 16:17:00 GMT



Kiplinger's Personal Finance: Get a loan from your credit card?

The Wells Fargo Platinum Visa and U.S. Bank Visa Platinum cards both recently charged zero interest on purchases for the first 18 months. If you prefer a personal loan, review offers from lenders at ...

Published:  Sat, 09 Nov 2019 18:30:00 GMT



3 SIMPLE WAYS TO GET A PERSONAL LOAN WITH BAD CREDIT

Personal loans are among the quickest growing customer debt category. In 2018, the personal loan balances stood at $120 billion. Those figures might have increased since then. When it comes to ...

Published:  Mon, 18 Nov 2019 12:12:00 GMT



5 Reasons Why Personal Loans Are Bad

If you are in a dire emergency, to take a loan, we suggest that you look for various options from loan against shares to loan against gold or property and avoid personal loans. In fact, we see almost ...

Published:  Mon, 18 Nov 2019 21:45:00 GMT



5 MOST COMMON REASONS FOR A PERSONAL LOAN APPLICATION DENIAL

Read on to learn about five of the most common reasons for loan application denial so you can be prepared before you submit your information to get the money you need. 1. Your Credit Score is Too Low ...

Published:  Thu, 14 Nov 2019 10:58:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure