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Dollar Bank personal loans review

Borrow up to $12,000 — but only if you live in Ohio, Pennsylvania or Virginia.’s rating: 2 / 5.0


This small regional bank offers unsecured personal loans to residents of Ohio, Virginia and Pennsylvania. You might want to consider it if you’re already a customer — you’ll be eligible for a rate discount. But you might want to look elsewhere if you’re looking to borrow more than $12,000 or want lower rates.


Max. Loan Amount$12,000
APRStarting from 6.99%
Interest Rate TypeFixed
Loan Term1 to 5 years

What makes Dollar Bank personal loans unique?

Dollar Bank personal loans might be best for customers who want to keep all of their finances in once place. Checking account holders can qualify for a 0.25% interest rate discount. And it’s also one of the few personal loan providers that allows you to apply with a cosigner.

What is a Dollar Bank personal loan?

A Dollar Bank personal loan is a fixed-rate, unsecured term loan that you can use for any legitimate purpose. You can borrow up to $12,000 with terms from one to five years and rates starting at 6.99% APR — if you qualify for the 0.25% customer discount.

The rates and terms you can qualify for depend on your loan amount:

Loan amountMaximum termStarting APR
$10,0003 years6.99%
$12,0005 years9.99%

Starting APRs include the 0.25% customer discount for having a Dollar Bank checking account prior to applying.

Dollar Bank line of credit

In addition to personal term loans, Dollar Bank also offers personal lines of credit of up to $10,000. Rates are variable and start at 10.74% — or The Wall Street Journal prime rate plus 5.24% — including a 0.25% interest rate discount for being a loyal customer. The minimum withdrawal amount is $50. The line of credit also comes with a $50 annual fee, which kicks in after the first year.

What are the benefits of a Dollar Bank personal loan?

From its interest rate discount for current customers to its two funding options, here are a few perks of borrowing from Dollar Bank:

  • Customer discount. You can get a 0.25% interest rate discount if you’re already a Dollar Bank customer with an eligible checking account.
  • Accepts cosigners. You can apply with another borrower to help increase your chances of approval for a better rate or term.
  • Personal loans and lines of credit. Dollar Bank has unsecured funding options for both one-time purchases or ongoing expenses that require cash, like home repairs.
  • Relatively low monthly repayments. Dollar Bank has relatively long terms available compared to its low loan amounts. This can make your monthly repayments more affordable in the short term.

What to watch out for

Consider these potential drawbacks before taking out a personal loan form Dollar Bank:

  • Relatively high rates. You might be able to find a more competitive deal with another lender if you have excellent credit — even with the customer discount.
  • Low maximum amounts. Most personal loan providers offer up to $50,000 in financing. Dollar Bank personal loans max out at $12,000.
  • Potentially high cost. A combination of relatively long terms and higher-than-average starting rates can spell a higher total cost of borrowing.
  • Hard-to-reach customer service. We had to try a few times before we could get in touch with Dollar Bank’s customer service team.
  • Requires branch visit. You can apply online, but you’ll have to visit a branch to finalize your loan.

Compare more personal loan options

Name Product Filter Values APR Min. Credit Score Loan Amount
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$600 - $100,000
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Best Egg personal loans
5.99% to 35.99%
$2,000 - $50,000
A prime online lending platform with multiple repayment methods.
PenFed Credit Union personal loans
4.99% to 17.99%
$600 - $25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
5.74 to 20.28%
$5,000 - $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Monevo personal loans
1.99% to 35.99%
$500 - $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.

Compare up to 4 providers

Am I eligible?

You must be a resident of one of the following areas to qualify for a Dollar Bank personal loan:

  • Northeast Ohio
  • Western Pennsylvania
  • Hampton Roads, Virginia

Dollar Bank doesn’t disclose its credit or income requirements for its personal loans.

How do I apply?

First, double-check that Dollar Bank serves your area — you can do this by searching for a branch near you on its website. If it does, you can apply online, over the phone or in person at your local Dollar Bank branch.

Follow these steps to get started online:

  1. Go to the Dollar Bank website and select Personal in the main menu.
  2. Hover over Borrowing in the drop-down list, then click Personal Loans.
  3. Scroll down and click Apply Now.
  4. Select whether you want to apply with a cosigner, the type of loan you’re interested in, how you plan to use the funds and which office you’d like to visit to sign your documents.
  5. Read the disclosures and click Continue.
  6. Provide information about your finances and employment. Enter all dollar amounts as “0000.00” without any commas or dollar signs. Click Continue.
  7. Enter the amount you’d like to borrow and answer any remaining questions. Click Continue.
  8. Provide any additional information you’d like Dollar Bank to consider.
  9. Read the terms and conditions, then click Submit.

After your submit your application, Dollar Bank will send you an email. Follow the instructions to verify your email address and wait for Dollar Bank to reach out with a decision — this typically takes a few business days. If approved, you’ll likely need to upload documents verifying your identity and income before visiting the branch you selected in the application to finalize your loan.

I got a Dollar Bank personal loan. Now what?

You’ll repay your loan in monthly installments as outlined in your loan contract. Consider signing up for autopay if possible. That way you won’t have to remember to manually make repayments each month.

Keep an eye on your account and contact customer service if you have any questions or concerns. You can reach out by calling 800-242-1616, using the live-chat feature on its website or visiting your local branch.

Bottom line

Dollar Bank’s personal loans might be best for current customers — especially if you’re looking to apply with a cosigner. But you’ll only be able to borrow up to $12,000. And you might be able to find a better deal elsewhere if you have excellent credit.

Find out how it compares to other providers with our guide to personal loans.

Frequently asked questions

Personal loan ratings

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★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

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