Avant vs. OneMain Financial Personal Loans (2026): Which Is Better for Your Needs?

Quick summary: Avant and OneMain Financial both offer personal loans to borrowers with less-than-perfect credit. Avant offers more competitive interest rates to customers with borderline credit, while OneMain Financial may be more accessible to lower-credit borrowers thanks to its secured loan and co-signer options.

Key Takeaways

• Avant and OneMain Financial both serve borrowers with lower credit scores, but they take different approaches. Avant offers an online-only experience with a minimum credit score of 550, while OneMain Financial offers more accessibility through secured loans, co-signers and 1,300+ branch locations.

• Avant offers lower starting APRs of 9.95% vs. One Main Financial's 11.99% and a higher maximum loan amount of $35,000 vs. One Main Financial's $30,000. OneMain Financial offers same-day funding and more flexible approval options for lower-credit borrowers.

• The right choice depends on your credit score and borrowing preferences: Avant works better for borrowers with mid-range credit who want lower rates and larger loans, while OneMain Financial works better for those needing co-signers, secured loans or in-person service.

Summary generated by AI, verified by MoneyLion editors

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Avant vs. OneMain Financial: A Lender Comparison

Interest Rates and APR 

Your personal loan APR (annual percentage rate) is the amount you’ll pay to borrow money, including both the interest rate and any additional charges, like an origination fee. Lower credit scores typically correspond with higher APRs, since they may represent more risk to lenders.

Avant’s APR range is 9.95% to 35.99%, while OneMain Financial's is 11.99% to 35.99%. With both lenders and across the board, you’ll likely need a high credit score to secure the lowest rate. 

Loan Amounts 

You can borrow $2,000 to $35,000 with an Avant personal loan, and $1,500 to $30,000 with a OneMain Financial personal loan.

Each of these ranges accommodates a variety of loan uses, including unexpected expenses on the lower end and debt consolidation on the higher end.

Repayment Terms 

Avant and OneMain Financial offer the same term lengths for their personal loans, ranging from 24 months, or two years, to 60 months, or five years. This range provides flexibility for borrowers who want to minimize the amount spent on interest by paying off their loan on the quicker side, and those who need longer terms with smaller monthly payments to fit their budgets.

Fees and Costs 

Both lenders charge borrowers origination fees that are deducted from loan funds. With Avant, the cost is up to 9.99% of the loan’s value, while with OneMain Financial, the fee is either a flat amount ranging from $25 to $500 or a percentage-based fee of 1% to 10% of the loan's value, depending on your state. 

Avant and OneMain Financial both charge late fees, too: $25 for Avant and $5 to $30 or a percentage of the monthly payment with OneMain. 

Eligibility and Approval 

To get a personal loan through Avant, you'll need a credit score of 550 or higher. So even if your credit is on the low side, you may be approved for an Avant loan. Just keep in mind that lower-credit borrowers typically pay the highest interest rates.

OneMain Financial doesn’t have a minimum credit score requirement for its personal loans. The lender works with applicants with a wide range of credit scores and considers customers’ overall financial picture when evaluating loan applications. It also allows you to apply with a co-signer or choose a secured loan backed with collateral. Both of these options can make it easier for lower-credit borrowers to secure loans.

With either lender, you'll need to be at least 18 years old to apply for a loan and live in a state where the lender does business — both are available in most states, with a few exceptions for each. You’ll also need to provide a valid ID and proof of income with both lenders.

Application and Funding Experience 

Avant and OneMain Financial both offer easy online application experiences, but while Avant is an online-only platform, OneMain has more than 1,300 locations, so you could apply in a branch if you prefer.

You can prequalify with both lenders to see what loan rates you might be eligible for without requiring a hard credit inquiry. Avant generally funds loans for successful applicants as quickly as the next business day, while One Main can offer funding as soon as the same day.

Pros and Cons 

Avast vs. OneMain Financial: What Is Each Lender Best For?

If you want the quickest answer on which lender is better for your needs, here are the situations where each makes the most sense. 

Choose Avant if: 

• Your credit score is high enough to qualify for its lowest rates

• You’re looking to borrow more than $30,000  

• You prefer an online-only experience

Choose OneMain Financial if: 

• You need to apply with a co-signer

• You want the option to apply in-branch 

• You want the fastest possible funding 

Final Recommendation and Next Steps 

Both Avant and OneMain Financial offer personal loans that may be accessible to lower-credit borrowers. The better choice for you depends on your exact credit score, with lower scores possibly having a better chance for approval with OneMain Financial and higher scores potentially qualifying for lower APRs through Avant. Also note the different loan amount options available through the two lenders; you can borrow more money through Avant.

We recommend taking advantage of the prequalification options available through both lenders so you can view your potential rates without affecting your credit score before applying. It's also wise to compare other personal loan options beyond these two lenders so you can get the most favorable terms possible.

FAQs 

Is Avant the same as OneMain Financial?

No, Avant and OneMain Financial are different institutions, but both offer personal loans with similar interest rates and term options. You can borrow more money and potentially get a lower APR with Avant, depending on your credit score. OneMain Financial lets you apply with a co-signer and choose a secured loan, while Avant does not. 

Can I get approved with bad credit?

Yes, both Avant and OneMain Financial may approve borrowers with bad credit scores.

How fast will funds arrive?

With Avant personal loans, you could receive your funds on the next business day. With OneMain Financial, you could receive your funds same-day — as soon as you apply.

Key Terms

• Personal loan: A fixed-rate installment loan repaid in set monthly payments over a defined term. Most personal loans are unsecured, meaning you don't need to provide collateral, though secured loan options might also be available as well.

• Annual percentage rate (APR): The total yearly cost of borrowing, expressed as a percentage, that includes both the interest rate and any lender fees. A lower APR means you'll typically pay less over the life of the loan.

• Origination fee: An upfront fee a lender charges to process a loan, typically deducted from your loan proceeds before funds are disbursed. It may be a flat dollar amount or a percentage of the loan total.

• Secured loan: A loan backed by collateral — such as a vehicle — that the lender can claim if you default on payments. Secured loans may be easier to qualify for and may have lower rates than unsecured loans.

• Co-signer: A creditworthy individual who agrees to share responsibility for repaying a loan if the primary borrower can't. Adding a co-signer may improve your approval odds or help you qualify for better terms.

• Prequalification: A lender's estimate of the loan terms you may qualify for, based on a soft credit inquiry, which doesn't affect your credit score.

• Debt consolidation: The process of combining multiple debts into a single loan — often at a lower interest rate — to simplify repayment and potentially reduce total monthly payments.

Sources:

• CFPB: What Is a Credit Score?

• CFPB: What Is a Credit Report?

• Avant: Official Avant Website

• OneMain Financial: Official OneMain Financial Website

Summary generated by AI, verified by MoneyLion editors