PNC Personal Loan Review | October 2021 | TheValu

Our Rating: 82.3%

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PNC Bank Personal Loan Review

Loan Amount:
$1,000 - $35,000
Minimum Credit Score:
620
APRs From:
6.24% - 35.99%
Funding Speed:
Not Specified

Features of PNC Bank Personal Loans

Pros

  • No prepayment penalty
  • No origination fees
  • Funding within 3 business days
  • Great customer support backed by PNC Bank
  • Perks for PNC Bank customers
  • Served in conjunction with other PNC bank products and services
  • Online personal loans available to borrowers in all 50 states

Cons

  • Products vary by location
  • May have to visit a branch to receive funds
  • APR range based on zip code

About PNC Bank Personal Loans

You may not expect a traditional brick-and-mortar bank to offer competitive small personal loans with low rates and fees, but PNC Bank is doing just that. If you need to consolidate high-interest debt, make home improvements or finance a major purchase, take a look at what PNC personal loans have to offer.As one of the largest banks in the nation by assets, PNC provides unsecured personal installment loans with fixed rates that vary by location. While borrowers don’t need an existing relationship with PNC to get a loan, those with a PNC checking account who opt for automatic loan payments receive a discount on their loan rate.PNC was featured on our list of top bank personal loans of 2021. We give PNC Bank Personal Loans a review an 83.2 rating.
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PNC Bank Personal Loan Snapshot

Loan Amount:

$1,000 - $35,000

APR:

6.24% to 35.99%

Minimum Credit Score:

620

Time to Funding:

Not Specified

Has Origination Fee:

No

Origination Fee: Not Applicable

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Pros and cons of PNC Bank Personal Loans

Before signing up for a loan with PNC Bank, take a look at this breakdown of some of its benefits and drawbacks.

Pros:

No prepayment penalty: Unlike some lenders, PNC Bank gives you the freedom to pay off your loan early without a fee.

No origination fee: PNC bank is one of the few personal loan lenders that do not charge an origination fee.

Perks for PNC Bank customers: If you already have a PNC checking account, you can earn a 0.25 percent discount on your PNC personal loan rates by setting up automatic payments.

Personal loans are available in all 50 states: PNC bank offers personal loans in all 50 states online, by phone, or at branch locations in 21 states and the District of Columbia.

Cons:

Products vary by location: Your location determines which APRs and repayment terms you’re eligible for. For some ZIP codes, this information is hard to come by on the PNC website.

May have to visit a branch to receive funds: Depending on your location, you may need to visit a branch in order to sign your loan documents, an inconvenience that many online-only lenders have eliminated.

APR range based on zip code: With PNC Bank, consumers can look up rates based on their zip code.

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Loan Terms

PNC offers unsecured personal loans that range from $1,000 to $35,000. These lines of credit come with repayment terms of six to 60 months in some states. The bank’s fixed interest rates start at 6.24 percent in some ZIP codes, but the rates available to you depend on creditworthiness, loan amount, and where you live.

PNC doesn’t disclose a minimum credit score to qualify for a loan, nor the amount of time it will take to fund your loan. Borrowers with good credit will have an easier time qualifying.

Fees and penalties

PNC keeps fees to a minimum. It has no origination fee and no prepayment penalty for its unsecured loans. But those who don’t have a checking account at PNC pay 0.25 percent more in interest.

How to get a Personal Loan with PNC Bank

You can apply for an unsecured personal loan through the PNC Bank Website, by phone, or in-person at a branch. The fastest way to start the process is by using its online application where you can see your estimated monthly payment.

In order to apply online, you’ll need to provide your full name, Social Security number, date of birth, and a photo ID. Applicants also need to include their previous address, annual income, and the amount they’d like to borrow. Those applying with a co-applicant will need to provide their co-applicants information as well.

While information about the approval process is scarce, borrowers in some states may need to visit a branch to sign final loan documents before receiving funding. We suggest studying PNC personal loan reviews before borrowing.

If you have questions about your loan options, customer care consultants are available at 1-888-762-2265 from 7 a.m. to 10 p.m. ET Monday through Friday and 8 a.m. to 5 p.m. ET Saturday and Sunday.

Quick PNC Bank Personal Loan FAQ

PNC Bank offers unsecured personal loans ranging from $1,000 to $35,000 with APRs ranging from 6.24% up to 35.99%. These loans can be used for almost any purpose.

PNC Bank personal loans are “unsecured loans“. This means that no collateral is required when borrowing.

PNC Bank does not charge an origination fee or a prepayment penalty. However, PNC charges a late fee of 10% of the payment or $40, whichever is greater, after a 15-day grace period. While many lenders charge late fees, this is in the higher range.

Getting a Personal Loan from PNC Bank can be done online, by phone, or in-person at a local PNC Bank branch in 21 states and the District of Columbia

  • min credit score: None. The average score is 727, according to SEC filings
  • Must provide Social Security number
  • Must be at least 18 years old
  • Must be able to show proof of income
  • Must show valid ID