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.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

Detailed Comparison: Avant vs. OneMain Financial 

Interest Rates & 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 18% 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 $20,000 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 (2 years) to 60 months (5 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 & 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 One Main. 

Eligibility & 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 it 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 & Funding Experience 

Avant and OneMain Financial both offer easy online application experiences, but while Avant is an online-only platform, One Main 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 & Cons 

Best For: Who Should Choose Which 

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 $20,000  

• 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 & 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?

Avant and OneMain Financial offer personal loans with similar interest rates and term options, but 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?

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 the next business day. With OneMain Financial, you could receive your funds as soon as the same day you apply.

Sources

• https://www.avant.com/ - Official Avant website

• https://www.onemainfinancial.com/ - Official OneMain Financial website