What is the difference between Avant and OneMain Financial?

Avant is an online-only lender offering unsecured personal loans of $2,000–$35,000 at 9.95%–35.99% APR. OneMain Financial operates both online and through ~1,400 physical branches, offering secured and unsecured loans of $1,500–$20,000 at 18%–35.99% APR. OneMain is more accessible to lower credit scores.

Which has lower interest rates, Avant or OneMain?

Avant's starting rate of 9.95% APR is lower than OneMain's floor of 18% APR. However, the best Avant rates go to borrowers with higher scores (660+). Borrowers with scores in the 580–620 range are more likely to get competitive offers from OneMain, especially with a secured loan.

Does OneMain Financial require collateral?

OneMain offers both secured and unsecured loans. Secured OneMain loans use a vehicle (car, truck, motorcycle, or boat) as collateral and typically carry lower rates than their unsecured loans. Collateral is optional — not required — but improves approval odds for lower-score borrowers.

What credit score do you need for Avant?

Avant requires a minimum credit score of approximately 580. Most approvals fall in the 600–700 range. Avant is one of the few online lenders willing to approve fair-credit borrowers for unsecured loans, though rates for lower scores approach the 35.99% maximum.

Avant vs. OneMain Financial 2026 — Which Bad-Credit Lender Is Better?

Avant and OneMain Financial are two of the most widely used lenders for borrowers with fair or bad credit. Both approve applicants that many traditional banks and online lenders reject — but they’re not identical. Your credit score, preferred loan amount, and whether you want in-person service will determine which is the better fit.

Avant offers lower starting rates (9.95% APR) and higher loan amounts (up to $35,000) for borrowers with scores of 580+. OneMain Financial accepts lower credit scores, has physical branches in 44 states, and offers secured loans — making it the better option when Avant turns you down.

Avant vs. OneMain Financial: Side-by-Side (2026)

Feature	Avant	OneMain Financial
Loan amounts	$2,000–$35,000	$1,500–$20,000
APR range	9.95%–35.99%	18%–35.99%
Loan terms	24–60 months	24–60 months
Minimum credit score	~580	~580 (secured loans may be lower)
Secured loans available	No	Yes (vehicle collateral)
Physical branches	No (online only)	~1,400 branches in 44 states
Origination fee	Up to 9.99%	$25–$500 or 1%–10%
Funding speed	As fast as 1 business day	Same day in some branches
Soft pre-qualification	Yes	Yes
Joint loans	No	No

Avant: Who It’s Best For

Avant is a good fit if you:

Have a credit score of 600–700
Want to borrow $5,000–$20,000
Prefer a fully online process
Don’t own a vehicle to use as collateral
Want to see if you qualify without affecting your credit score

The drawback: Avant charges an origination fee of up to 9.99% of the loan amount, deducted from your loan proceeds. On a $10,000 loan, you might receive only $9,001–$9,999. Your loan APR reflects this fee, so compare APRs (not just stated rates) across lenders.

OneMain Financial: Who It’s Best For

OneMain is better if you:

Have a credit score below 600
Prefer or need in-person service
Want to use a vehicle as collateral to secure a lower rate
Need money the same day (possible at branches)
Have been denied by Avant

Secured OneMain loans use a car, truck, motorcycle, or boat as collateral. This doesn’t mean you have to give up the vehicle — you continue driving it — but defaulting means OneMain can repossess it.

Interest Rate Comparison

Both lenders max out near 36% APR, but their floors differ significantly:

Borrower profile	Avant estimate	OneMain estimate
Credit 720+, strong income	~9.95%–12% APR	18%–22% APR
Credit 660–720	~14%–22% APR	22%–28% APR
Credit 580–660	~25%–35.99% APR	28%–35.99% APR
Credit below 580	Likely declined	May approve (secured)

Cost Example: $8,000 Loan Over 36 Months

Scenario	APR	Monthly payment	Total repaid	Total interest
Avant at 15% APR	15%	$277	$9,984	$1,984
Avant at 30% APR	30%	$322	$11,608	$3,608
OneMain at 18% APR	18%	$289	$10,413	$2,413
OneMain at 35.99% APR	35.99%	$353	$12,721	$4,721

The difference between a 15% and 36% rate on an $8,000 loan is over $2,700 in additional interest over 3 years.

How to Choose

Choose Avant if: You want the lowest possible rate, have a score of 600+, and are comfortable with an entirely online process.

Choose OneMain if: Your credit score is below 600, you want an in-person option, or you want the ability to lower your rate with a secured loan.

Consider neither if: You qualify for a loan at a credit union, bank, or highly-rated online lender (LightStream, SoFi, Discover) at significantly lower rates.

Before You Apply

Pre-qualify at both lenders on the same day — both use soft credit pulls that won’t affect your score. Compare the actual offers (including origination fees and APR, not just the rate) before deciding. Only then submit a full application to your preferred choice.

Related reading:

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy