Avant vs SoFi

The short version

Avant is an online installment lender, not a bank, built for borrowers in the 600-700 FICO range with loans of $2,000 to $35,000. SoFi is a bank-chartered lender — its loans are originated by SoFi Bank, N.A. — built for larger amounts, from $5,000 up to $100,000, over terms stretching to 84 months against Avant’s 60-month cap. Avant publishes a minimum credit score around 580; SoFi publishes no minimum at all, saying only that eligibility depends on your financial history, credit score, and income versus expenses. Both let you check your rate with a soft pull that leaves your score untouched.

APRs, as of September 2026, run 9.95% to 35.99% at Avant and 6.49% to 35.49% at SoFi — SoFi’s floor is meaningfully lower, though its ceiling sits close to Avant’s. The fee structures diverge more than the rates: Avant deducts an administration fee of up to 9.99% of the loan amount from every loan (Avant publishes only that cap, not a range), while SoFi’s origination fee is optional, and SoFi doesn’t publish what the fee costs when you do choose it.

Rates and fees

Avant’s APR ranges from 9.95% to 35.99%, with an administration fee of up to 9.99% of the loan amount deducted from proceeds at funding; Avant also charges a $25 late fee for a payment more than 10 days past due and a $15 returned-payment fee, with no prepayment penalty. SoFi’s published range is 6.49% to 35.49% APR, with the floor rising by term — 6.49% on a 2-year loan up to 11.90% on a 7-year loan — and those floor rates already include a 0.25% Autopay discount and a 0.25% Member Rate Discount. SoFi says it does not charge late fees or a prepayment penalty.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published range to compare on equal footing.

Avant, 22.97% APR (midpoint of 9.95%-35.99%), using Avant’s 9.99% fee cap (Avant publishes only a cap, not a range). The fee is $999.00, so you’d receive about $9,001.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $348.29 a month, total payments of about $12,538.44, and a total cost of roughly $3,537.44 over the $9,001.00 you actually received. These are our own amortization figures, not a lender quote.

SoFi, 20.99% APR (midpoint of 6.49%-35.49%). SoFi’s origination fee is optional and its cost isn’t published, so — matching the no-fee path SoFi’s own rate-page example uses — we’re assuming no fee here. An APR already includes the origination fee by definition, so on a loan with no fee at all, we simply amortize the full $10,000 you receive at 20.99% APR over 36 months. That comes to a payment of about $376.70 a month, $13,561.20 total paid, and a total cost of about $3,561.20 in interest. If you’re offered SoFi’s fee option instead, your cash in hand would be lower and your true cost higher than this figure shows. These are our own amortization figures, not a lender quote.

For a sense of SoFi’s larger end, its own rate-page example uses $30,000 over 5 years (60 months) at 9.50% APR, which runs 60 payments of $630.06 for a total of $37,803.35.

Who qualifies

Avant’s published minimum is a 580 credit score, though its typical approved borrower has a FICO score in the 600-700 range and income above $50,000. Avant’s stated requirements are at least 18 years old, a valid Social Security number, verifiable income (typically $1,200 a month minimum), and an active checking account; there’s no collateral requirement and no co-signer option. SoFi doesn’t publish a minimum credit score, saying only that eligibility depends on your financial history, credit score, and monthly income versus expenses. SoFi’s stated requirements are the age of majority in your state; US citizenship, eligible permanent residence, or non-permanent resident alien status (including DACA recipients and asylum seekers); being employed, having sufficient income from another source, or a job offer starting within 90 days; and living in a state SoFi is authorized to lend in.

Avant isn’t available to residents of Hawaii, Iowa, Maine, Massachusetts, New York, Vermont, Washington, or West Virginia. SoFi doesn’t publish a list of excluded states on the pages we checked, saying only that restrictions may apply.

Speed and funding

Avant typically deposits funds via ACH as soon as the next business day, if your approval comes through by 4:30 p.m. CT on a weekday; applications approved later, on weekends, or needing extra verification can take longer. SoFi calls its version Same Day Funding: most borrowers get funds the same day when the loan is approved and the agreement is signed by 5:30 p.m. Eastern on a business day. SoFi is explicit that this target isn’t assured every time and that delays can happen.

Where each one wins

• Avant — a published minimum score around 580, a number to check yourself against that SoFi doesn’t offer.
• SoFi — a much higher loan ceiling ($100,000 versus Avant’s $35,000) for a larger need.
• SoFi — longer terms, up to 84 months against Avant’s 60-month cap, for a lower monthly payment on a large balance.
• SoFi — a lower APR floor (6.49% versus Avant’s 9.95%) as of September 2026.
• Avant — a lower minimum loan amount ($2,000 versus SoFi’s $5,000) for a smaller need.

Bottom line

If your credit sits in the 600s and you need a mid-sized loan, Avant’s published minimum score and fast next-business-day funding make it worth checking first — just budget for the administration fee shrinking your payout by up to nearly 10%. If you need a larger amount or a longer term to keep the payment manageable, and your credit is strong enough to clear SoFi’s unpublished bar, SoFi’s $100,000 ceiling and 84-month terms are hard to match among the lenders reviewed here. How installment loan interest actually works walks through the amortization math above in more detail. Read the full Avant review and SoFi review, then start a loan request to see what you might actually qualify for.