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M&T Bank personal loans review

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With secured and unsecured loans starting at 8.49%, find out if this lender can offer the personal financing you need.

  • Best for borrowers looking for next-day approval.
  • Pick something else if you don't have collateral to put up.


Max. Loan Amount

8.49% to 11.24%



Product NameM&T Bank Personal Loan
Min. Loan Amount$2,000
Max. Loan Amount$100,000
APR8.49% to 11.24%
Interest Rate TypeFixed
Minimum Loan Term5 years
Maximum Loan Term10 years

First, am I eligible?

  • Social Security number
  • A valid email address
  • Income and employment information
  • Available assets and liabilities
  • M&T Bank certificate of deposit of savings account number, if applicable.


  • Quick access to funds. Apply for a personal loan with M&T Bank on its website with approval in as little as 24 hours.
  • Discounts for members. If you’re an M&T Bank customer, you can offer up your savings account or certificate of deposit as collateral on a secured personal loan for an APR discount of up to 0.5%.
  • Unrestricted loan purposes. You can use your loan however you want. Just stay away from spending it on your education.


  • Limited availability. M&T Bank only offers services to New York, New Jersey, Maryland, Connecticut, Delaware, District of Columbia, Pennsylvania, Virginia and West Virginia.
  • Site doesn’t list fees. While general details about its personal loans are available on its site, M&T doesn’t provide information regarding prepayment fee, late fees or loan processing fees.
  • Limit for unsecured loans. If you’re not willing to put up your M&T savings account or certificate of deposit as collateral, you’re limited to a $25,000 loan. You can find higher unsecured loans elsewhere.
  • Potentially high APR. While M&T Bank’s APRs aren’t sky high, they’re also not the most competitive on the market. You can find lower interest rates with other online lenders.

Compare other personal loan providers

Updated December 13th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
5.95% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
Upgrade Personal Loans*
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.
Even Financial Personal Loans
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
NetCredit Personal Loans
34% to 155% (Varies by state)
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo Personal Loans
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
PenFed Credit Union Personal Loans
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
LendingClub Personal Loan
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
5.99% to 17.88%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

What do customers say about M&T Bank?

M&T Bank is accredited with the Better Business Bureau and receives an A+ rating. But it only averages one star from its reviews, and it has nearly 400 complaints filed against it. On top of that, there has been government action taken against M&T Bank to resolve a claim that it violated the False Claims Act.

M&T customers criticize its numerous hidden fees and charges, suggesting the bank is guilty of “nickel and diming” its customers.

How do I apply?

Submit your online application to M&T Bank. If you prequalify for a loan, an M&T Bank loan officer will contact you to verify your submitted information.

M&T Bank boat and recreational vehicle loans

Thinking of buying a boat? M&T bank has specific loans for boats, RVs, motorcycles, snow mobiles and jet skis. You can use it to buy a new or used vehicle, which is used as collateral. Amounts start at $2,000 and can cover the majority of your vehicle’s cost. Terms vary depending on your vehicle type:

  • Boats and RVs: Up to 240 months
  • Motorcycles: Up to 72 months
  • Snowmobiles, jet skis and ATVs: Up to 36 months

What happens after I apply?

After you submit your application, you can review your loan agreement upon approval. M&T Bank doesn’t explicitly state on its site what fees are associated with its personal loans, so be on the lookout for prepayment penalties and monthly fees.

How do repayments work with M&T Bank?

You can set up automatic payments by logging into your M&T Bank online account, ensuring you never miss a payment.

If you’re still not sold, then consider the other types of loans that M&T Bank offers and read our guide to personal loans to compare other offers before settling on a decision.

Frequently asked questions about M&T Bank

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  1. Default Gravatar
    May 1, 2019

    I Applied for a loan yesterday. How do I know if I get approved?

    • Avatarfinder Customer Care
      May 1, 2019

      Hi Heath,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      Usually, you should know whether you will be approved or not within the day. They can contact you through your email address or the contact details that you provided. If you haven’t heard anything from them after 1-2 days, you may want to directly get in touch with them.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


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