Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

M&T Bank personal loans review

Last updated:  

Loans with a low starting rate, but larger amounts require collateral.’s rating: 4.3 / 5.0


  • Best for M&T Bank customers looking to keep their finances in one place.
  • Pick something else if you don’t live in an eligible state.


Max. Loan Amount

6.24% to 12.99%



Product NameM&T Bank unsecured personal loans
Min. Loan Amount$2,000
Max. Loan Amount$50,000
APR6.24% to 12.99%
Interest Rate TypeFixed

Expert review

Shannon Terrell

Review by

Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.

Expert review

M&T Bank’s personal loans are ideal if you’re already a customer and want to keep your finances in one place — and you might qualify for a rate discount if you sign up for autopay from your M&T checking account. You can borrow up to $50,000, and rates max out at a relatively low 12.74%. Plus, you can qualify for lower rates, larger loan amounts and longer terms if you secure your loan with cash deposits from an M&T savings account or CD.

However, its products are only open to residents of a handful of states. And it doesn’t list any hard-and-fast income or credit requirements, making it difficult to know if you’d qualify before applying. It also doesn’t have the best customer reviews out there.

Not sold on M&T Bank? Compare your other options below.

How much will this loan cost me?

M&T Bank offers both unsecured and secured loans. The total cost of your loan — as well as the term you qualify for — will depend on how much you borrow and your credit.

Loan amountAPRLoan term
Unsecured loan$2,000 to $50,0006.24% to 12.99%Up to 7 years
Cash-secured loan$2,000 to $100,0004.24% to 6.49% APRUp to 10 years

To estimate your monthly repayment, use the calculator below.

Monthly repayments calculator

Calculate how much you could expect to pay each month
Your loan
Loan amount
Loan terms (in years)
Interest rate
$ %

Fill out the form and click on “Calculate” to see your estimated monthly payment.


Compare personal loans now

Based on your loan terms...

You can expect to pay back $ per month

This breaks down to...

$ in principal and $ in interest charged Compare personal loans now

How it works

M&T Bank doesn’t list any specific credit requirements. But because its rates are so competitive, it’s safe to assume you’ll need good to excellent credit to qualify.

And to get the best rates, you’ll need to have a loan term under three years, borrow $30,000 to $40,000 and have an M&T Premium or Power Checking account when you apply. With one of these accounts, you may also qualify for a relationship discount — further reducing the overall cost of your loan.

What do I need to qualify?

To qualify for a loan from M&T Bank, you will need to meet these criteria:

  • Live in one of M&T Bank's serviced states
  • US driver’s license or non-state ID and a Social Security card
  • Age 18 or older

What information do I need to apply?

M&T Bank requires you to submit some basic information, including:

  • Social Security number
  • Date of birth
  • Citizenship status
  • Monthly housing payment
  • Income and employment information
  • List of available assets and liabilities
  • M&T Bank certificate of deposit of savings account number, if applicable

Where is M&T Bank available?

M&T Bank offers loans to residents of the District of Columbia and the following states:

  • Connecticut
  • Delaware
  • Maryland
  • New Jersey
  • New York
  • Pennsylvania
  • Virginia
  • West Virginia


  • Approval in as little as 24 hours
  • APR discount for signing up for autopay from an M&T checking account
  • Maximum APR of 12.99% for unsecured loans


  • Limited state availability
  • Loans above $50,000 must have collateral
  • History of poor customer service

See other personal loan options

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
SoFi personal loans
5.99% to 18.83%
A highly-rated lender with competitive rates, high loan amounts and no fees.
Upstart personal loans
8.69% to 35.99%
580 or 600 depending on state of residence
This service looks beyond your credit score to get you a competitive-rate personal loan.
LendingTree personal loans
Starting from 3.99%
Good to excellent credit
Receive up to five loan offers in just minutes through LendingTree's simple online form.
NetCredit personal loans
34% to 155%
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.

Compare up to 4 providers

What do customers say about M&T Bank?

BBB accreditedYes
BBB ratingA+
BBB customer reviews1 out of 5 stars, based on 66 customer reviews
Customer reviews verified as of07 May 2020

While many negative reviews and complaints were about M&T’s mortgages or general accounts, there was one general theme: Customer service is lacking. And with no unique responses from M&T Bank’s team, it’s easy to see why some customers had problems.

How do I apply?

To apply with M&T Bank, follow these steps:

  1. Visit M&T Bank’s page on personal loans and click Apply online.
  2. Select your state and whether you’re applying individually or jointly.
  3. Enter information about yourself, including your citizenship status and Social Security number.
  4. Review your loan options and M&T’s terms and conditions.
  5. Read over your information and submit your application.

M&T Bank may require you to submit other documents to complete the application.

What happens after I apply?

If you prequalify for a loan, an M&T Bank loan officer will contact you to verify your submitted information. You can then review your loan agreement and sign if you agree to M&T’s terms.

How do repayments work with M&T Bank?

You can set up automatic payments by logging in to your M&T Bank online account to help avoid any late or missed payment fees. And current customers may even qualify for a rate discount by signing up for autopay from their M&T checking account.

Keep an eye on your bank account and loan balance — and reach out to customer service as soon as possible if you know you may not be able to make a payment.

While M&T Bank offers a great APR, its limited reach and collateral requirements may make it difficult to qualify. Read our guide to personal loans to see how it stacks up to the competition.

Frequently asked questions

Short-term loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze short-term loan providers and similar services to help you weed out predatory lenders and find a company you can trust. We rate providers on a scale of one to five stars. Our ratings are based on factors that are most important to you, which include: loan amount, application process, fees, customer reviews and borrower experience.

Read the full methodology of how we rate short-term loan providers and similar services.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.


  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!


Go to site