Our Rating: 86%
TD Bank Personal Loan Review
Loan Amount:
$2,000 - $50,000
Minimum Credit Score:
680
APRs From:
6.99% - 18.99%
Funding Speed:
As fast as one business day
One of the frustrating things you can ever experience is being in a situation where you need instant cash, but you have no resources or savings. The good thing is you can take advantage of a personal loan.
Does TD bank do a personal loan? The bank is known for its secured and unsecured personal loans. Plus, you do not need to be their member to apply for a personal loan.
On the other hand, TD Bank is highly recommended for those who have good to excellent credit scores. The bank is also an idea if you want to keep your financial accounts in one place. That is because the bank’s rates are higher than other lenders that require good to excellent credit scores.
Continue reading, and you will discover how to get a personal loan from TD Bank.
About TD Bank Personal Loans
TD Bank is known for its secured and unsecured personal loans. Plus, you do not need to be their member to apply for a personal loan.
Compare Similar Lenders
 Our Rating: 86% | Our Rating: 86% |  Our Rating: 88% |  Our Rating: 88% |
|---|---|---|---|
Est. APR 7.99% - 29.99% | Est. APR 6.99% - 18.99% | Est. APR 9.99% - 35.99% | Est. APR 99% - 199% |
Loan Amount $7,500 - $40,000 | Loan Amount $2,000 - $50,000 | Loan Amount $2,000 - $25,000 | Loan Amount $500 - $4,000 |
Loan Terms 2-5 Years | Loan Terms 1-5 Years | Loan Terms 2-4 Years | Loan Terms 1/2-2 Years |
Min. Credit Score 620 | Min. Credit Score 680 | Min. Credit Score 600 | Min. Credit Score Not Specified |
TD Bank Personal Loan Snapshot
Loan Amount:
$2000 – $50000
APR:
6.99% to 18.99%
Minimum Credit Score:
680
Time to Funding:
As fast as one business day
Has Origination Fee:
No
Origination Fee: Not Applicable
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Loan Terms
You can choose from secured and unsecured personal loans. However, if you wish for more flexibility, you can take advantage of the unsecured personal line of credit.
Unsecured Personal Loan
If you choose the unsecured personal loan, you can borrow anywhere from $2,000 and $50,000. The repayment terms are from one to five years. The bank also offers an unsecured loan express version. This loan version allows you to borrow up to $15,000. You can get the fun in as fast as two days.
Unsecured Personal
For a more flexible personal loan option, TD Bank offers an unsecured line of credit. This loan comes with long terms.
Secured Personal Loan
If you need over $50,000, you can opt for a secured loan. This loan is made up of your deposit account value with one to five years repayment terms.
To give you a bigger picture of the TD personal loan terms and requirements, check out the comparison table below:
| Type of Personal Loan | Loan Range Amount | APR Range | Fees | Loan Terms | Repayment Options | Direct Payment to Creditors |
| Unsecured Personal Loan | $2,000 - $50,000 | 6.99% - 18.99% with AutoPay | • No origination fee • No repayment penalty • No check processing fee • No Return Payment Fee/NSF • Lesser of 5% of minimum payment due or $10 late payment fee | 1 to 5 years | Monthly | No |
| Unsecured Personal Line of Credit | $20,000 - $50,000 | 10.50% - 15.50% with AutoPay | • $25 annual fee • No repayment penalty • No check processing fee • No Returned Payment Fee/NSF • Lesser of 5% o monthly past due or $10 late payment fee | 10 years draw period followed by 10 years repayment period | Monthly | No |
| Secured Personal Loan | $5,000 - $50,000 | 7.92% variable rate | • $50 origination fee • No repayment penalty • No check processing fee • No Returned Payment Fee/NSF • No late payment fee | 1 to 5 years | Monthly | No |
TD Bank serves the East Coast, including Washington D.C., Maryland, Florida, Virginia, Pennsylvania, New Jersey, and New York.
How to get a Personal Loan with TD Bank
TD Bank Personal Loan Application Process
For a line of credit or personal unsecured loan, you can apply online. However, you need to visit the TD branch to sign the closing paperwork. You need to call or visit the branch if you need a secured loan.
| Application Process | Online and In-Branch Visit (Line of Credit and Unsecured Loan Only, By Phone or In-Person |
| Time to Get Funds | 2+ days |
| Cosigners/Co-borrowers | Yes |
| Credit Reporting | Yes |
| Credit Check | Hard credit check |
Once you start the application process, you have to choose whether you want to apply for a loan or line of credit. You need to provide your ZIP code and choose the closest TD Bank branch to your location.
You also have to provide some information about the loan you are applying for, such as:
- Number of co-applicants
- Whether you want an AutoPay enrolment
- How much funds you need
- How you plan to use the funds
Then, you need to choose a specific loan term. TD Bank will provide the monthly payment estimates to help you decide.
After you complete that application phase, you need to provide personal information, including:
- Name
- Address
- Phone number
- Date of birth
- Social Security number
- Employment and annual income
- Major monthly expenses (rent or mortgage payments and other debts)
Next is to submit the loan application for approval. Once your application is approved, the bank may require you to visit the branch to sign the closing paperwork. Beware that the funding takes a few business days.
What We Like About TD Bank
TD Bank remains one of the most trusted personal loan providers. If you are want to get to know about the bank, take a look at the advantages it offers below:
Quick Loan Approval and Funding
TD Bank has a reputation for quick loan approval and funding process. Your application can be approved as fast as 60 seconds the day you applied. Then, you may receive the funds the next day. If you are asked for additional requirements, the approval could take longer.
Payment Date Change
While you cannot select the payment date to sign the loan agreement, you can change it afterward. All you need to do is to submit a written request.
Transparency
Unlike other banks, TD Bank provides an easy-to-navigate and intuitive website. All the terms, fees, and rates are clearly listed. You will also find a FAQ page.
Dependable Customer Support
The customer service line is accessible 24 hours. So, every time you have questions, you can contact them.
What We Don’t Like About TD Bank
While TD Bank offers lots of advantages, there are also some drawbacks, including:
- No direct payment to creditors
- Limited loan terms
- No autopay discount
- Undisclosed eligibility requirements
- Requires good credit score
- Not available nationwide
- Charges a late fee
Conclusion
To sum it up, TD Bank is an attractive option if you need money fast. The unsecured personal loan is worth considering if you need a bigger fund up to $50,000. Plus, you can take advantage of their easy-to-navigate website and reliable customer service. On the other hand, you are out of luck if you reside where there is no bank branch.