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M&T Bank personal loans review

This lender offers low rates — even for a bank — but customers complain of poor service.’s rating: 3.7 / 5.0


Bottom line: M&T bank offers low rates with special discounts for customers — though you don’t need an account to apply. But it’s only available to residents of a few states on the East Coast. Read our full review or get our 30-second take.


Min. Loan Amount$2,000
Max. Loan Amount$50,000
APR6.49% to 14.24%
Interest Rate TypeFixed
Min. Credit Score680
Loan Term12 to 84 months


  • Low maximum APR of 13.74%
  • Approval in as little as 24 hours
  • Discount for autopay from an M&T checking account


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

Our take on M&T Bank

M&T Bank’s personal loans are ideal if you’re already a customer and want to keep your finances in one place. You might even 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 14.24% — which is a low APR even compared to other banks I’ve reviewed. 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 customers complain of poor service. Consider another lender if you don’t live in the right place or don’t mind sacrificing rates for high-quality assistance.

M&T Bank loans rates are low — even for a bank

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 $50,000

6.49% to 14.24%

12 to 84 months

Cash-secured loan

$2,000 to $100,000

4.24% to 6.49% APR

12 to 120 months

To estimate your monthly repayment, use our calculator.

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And to get the best rates, you’ll need to have a loan term under 36 months, borrow at least $30,000 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.

M&T Bank reviews are mostly negative

BBB accredited Yes
BBB rating A+
BBB customer reviews 1.09 out of 5 stars, based on 210 customer reviews
Trustpilot Score 2.9 out of 5 stars, based on 5 customer reviews
Customer reviews verified as of 02 November 2021

M&T Bank customers have written almost entirely negative reviews and filed hundreds of complaints with the Better Business Bureau (BBB) over the past three years. 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.

M&T Bank requires good credit

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

  • Personal credit score of 680 or higher
  • 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

It's possible to still qualify for a loan with a credit score below 680, but you can't apply online. Call 800-724-2440 or reach out to your local branch to learn about your options.

States where M&T Bank loans are 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

Start your application online

You can apply for an M&T Bank personal loan through the bank's website. First, you'll need to provider basic information about yourself and submit your prequalification application.

If you prequalify for a loan, an M&T Bank loan officer will contact you to verify your submitted information — typically within 24 hours. You can then review your loan agreement and sign if you agree to M&T’s terms.

Low rates and an online application set M&T Bank apart

M&T Bank's low maximum interest rate of 14.24% is lower than what you'll find at most regional banks and online lenders that specialize in financing for excellent credit. It's also one of the few banks that lets you start your application online. Most require you to speak with a loan officer in person or over the phone.

While it has a high volume of negative reviews, this is unfortunately common for a regional bank. Community banks typically have better customer service than their larger counterparts. And online lenders may offer a more streamlined application.

Alternatives to M&T Bank

These alternatives may be available available to residents of more states and credit profiles. Fill out the form to view personalized options — or visit our guide to personal loans to compare even more lenders.

1 – 8 of 8

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Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
SoFi personal loans
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$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
6.34% to 35.89%
$1,000 to $40,000
A peer-to-peer lender offering fair rates based on your credit score.
Monevo personal loans
1.99% to 35.99%
$500 to $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.

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Personal loan ratings

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★★★★★ 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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  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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