Avant Credit Loans provides unsecured personal loans to borrowers who may not be able to obtain funds through a traditional bank. Interest rates are determined based on the qualifications of individual borrowers but often are well below that of payday loans and certain cash advances.
Potential borrowers must be residents of the United Kingdom, be over the age of 18, and have a current bank account in their name. Depending on the unique circumstances, borrowers may be eligible for loans ranging in amounts from £1,000 to £20,000, with repayment terms ranging from 12 to 48 months.
The application can be completed online, and will require basic personal and contact information, employment information, financial details, and information regarding your bank account and associated debit card. Approved borrowers receiving funds as soon as the same day after the loan has been approved. There are no setup or arrangement fees, and no early repayment fees. Interest is calculated daily, so borrowers can potentially benefit from repaying their loans ahead of schedule by paying less interest over the term of the loan.
Operating as a responsible lender, a full payment schedule is provided to all approved borrowers, allowing them to clearly see the associated costs and repayment terms prior to accepting the loan. Payments can be made through a continuous payment authority, allowing for simple, automatic payments through the debit card provided as part of the application. Those who wish to cancel the continuous payment authority can pay through alternative means.
Avant Credit Loans Criteria
- Age Requirement
- Debit Card
- Yes - Current account needed also
- Credit Checks
- Other Requirements
- Check website
- Same Day Transfer Available
- Loan Value Available
- £1000 to £20000
- Representative APR
- Loan Length
- 12 Months to 48 Months
- FCA Registration Number
- Loan Example
- The Representative APR is 49,7% APR (fixed) so if you borrow £3,000 over 3 years at a rate of 41.0% per annum (fixed) you will repay £146.09 per month & £5,259.11 in total
Avant Credit Loans Review
Avant Credit Loans reviews each application individually. This allows them to examine the unique situations experienced by every borrower and make a determination based on their specific circumstances. Applications will be reviewed along with the potential borrowers credit score, employment history, and other factors used to assess overall creditworthiness.
Personal loans can be requested in amounts far exceeding the options of many other lenders in this arena, and provide options to those who may not be able to achieve financing through traditional banks. Those who are approved will be informed of their approval limit, and may select an amount anywhere up to the limit as described.
Additionally, the interest rates associated with the AvantCredit personal loans are generally far lower than that of payday loan lenders, and many other instalment-based personal loan lenders, with certain borrowers being eligible for an APR as low as 9.3 percent. Loan lengths allow borrowers to make payments, in the form of monthly instalments, over up to 48 months, depending on the amount borrowed.
With early payment options, borrowers can choose to repay their loan ahead of the original schedule, saving on interest over the long-term.