Best Reviews TopConsumerReviews.com Best Personal Loans Best Reviews
Best Reviews
      July 12, 2020

Home  >  Personal Loans  >  Upstart vs Avant

Best

Personal Loans

  1. Upstart
  2. LendingTree
  3. Credible
  4. LendingClub
  5. Avant
  6. 100 Lenders
  7. Prosper
  8. Even
  9. NetCredit
  10. Personal Loans
  11. OneMain Financial
  12. LifeLoans
  13. Better Loans Mutual

Your Information Is Secure
Personal Loan Tips Newsletter

Compare Products

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

Latest Reviews

Bicycle Parts

Calendars

Credit Counseling

Feather Pillows

GMAT Test Prep

GRE Test Prep

Hemorrhoid Relief

Homeschool Supplies

LSAT Test Prep

MCAT Test Prep

Senior Care

Thyroid Health

 

Individual Reviews

SoFi

Upstart

LendingTree

Credible

LendingClub

Avant

100 Lenders

Prosper

Even

NetCredit

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

Upstart vs Avant

Best Personal Loans

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

2020

Personal Loan Reviews

4.5 stars
Upstart

UPSTART

Visit Site

Loan:

From $1,000 to $50,000

Upstart is a peer-to-peer lending platform founded by former Googlers. At first glance, the site is neat and includes finance-related images such as pie charts and percentage signs to emphasize their purpose, which is to help people achieve their financial goals. The fonts are large, allowing easy reading, very helpful since financial information can be overwhelming. The site allows one to process information while pacing the reader through use of space and letter size.

Professional look

Professional in look, the site however does not hope to impress in graphics or photos of people enjoying newfound financial freedom. Instead, the site uses facts and figures to communicate a serious, all-business tone. The only downside to this setup is that if a customer is not familiar with loans or borrowing lingo, they might be lost until they scroll to the bottom of the Home page to click on "Contact Us".

Getting started

For customers who aren't sure where to begin, Upstart has a "Get Started" icon which asks them what they want to do. Upstart offers help with loan consolidation, paying off credit cards, paying medical bills, buying a car or other big purchases. Such a wide range of services is comforting to those seeking financial advice. The site also provides education to help you prepare for future financial decisions.

Best Personal Loans

Fast turnaround

With respect to personal loans, Upstart is efficient. You can apply online and find out your rate within a few minutes. You're asked simple questions about your income and education history. Upstart then presents you with loan terms and options for payment. Once a customer agrees to the terms of the loan, funds are issued - sometimes, by the next business day. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

Solid reputation

Upstart's reputation is very solid - you'll quickly see links to articles on prominent sites like Fox, Bloomberg, and other news agencies, along with testimonials from satisfied clients. Their underwriting model uses machine learning and artificial intelligence techniques to underwrite borrowers based on many variables, including but not limited to credit score, income, education, and employment. Such details helped us gain more confidence in the success of this company's services.

Helpful articles

We found the blog articles very helpful. With topics ranging from selecting health insurance to saving money on groceries, a person seeking financial security could benefit from the wisdom these articles offer. Unfortunately, this tool is found at the bottom of the Home page. The website would function more effectively if they included this option at the top of the page along with "Contact" and "Team" information because it is on these pages where we found answers to our initial questions.

High marks

While Upstart's website is good, it could use some enhancements to make it more user friendly. Still, Upstart earns high marks for their quick processing of loan applications and many helpful financial features.

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.

Large range of loans

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.

Busy newcomer

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.

Fast processing

One 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‡.

Best Personal Loans

Easy application process

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‡

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.

Solid choice

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 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!

5 reasons people get personal loans-and what financial advisers say about them

Unsecured personal loans can pay for almost anything. Their flexibility makes them easy to turn to when you want to consolidate your debts or put in that kitchen island. But first assessing all your ...

Published:  Thu, 09 Jul 2020 01:01:00 GMT



Everything You Should Know Before Getting a Personal Loan

With lenders tightening their standards in light of the pandemic, here's everything you should know before applying for a personal loan.

Published:  Wed, 01 Jul 2020 07:48:00 GMT



10 questions to ask before you take out a personal loan

CNBC Select covers ten questions you should ask yourself and your lender before applying for a personal loan, from APR to how fast you receive the funds.

Published:  Tue, 30 Jun 2020 18:19:00 GMT



Tom Brady's personal brand approved for PPP loan

The Bucs quarterback was one of many athletes and programs that received loans through the Paycheck Protection Program.

Published:  Wed, 08 Jul 2020 19:11:11 GMT



Things to know about student loans, the new definition of financial adulthood and more

Here's why missing college this fall is a bad idea, low variable rate student loans might now be for everyone, and more answers to your personal finance questions.

Published:  Sat, 11 Jul 2020 12:30:00 GMT



How much does a personal loan affect your credit score?

Still, taking out a personal loan can be a smart decision for some consumers, particularly for people who are going to use the money to consolidate high-interest debt at a lower interest rate, make ...

Published:  Wed, 08 Jul 2020 15:47:00 GMT



Should You Get a Home Equity Loan Now?

Tapping home equity can be a lifeline as emergency savings dry up for many Americans during the coronavirus pandemic. Closing quickly on a home equity loan is easier now, but approval may be harder as ...

Published:  Fri, 10 Jul 2020 17:15:00 GMT



Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure