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M&T Bank offers large personal loans and rate discounts for current customers. But if you’re not interested in putting up collateral, you may not be able to borrow a large amount.
$100,000
Max. Loan Amount
8.49% to 11.24%
APR
| Product Name | M&T Bank Personal Loan |
|---|---|
| Min. Loan Amount | $2,000 |
| Max. Loan Amount | $100,000 |
| APR | 8.49% to 11.24% |
| Interest Rate Type | Fixed |
| Minimum Loan Term | 5 years |
| Maximum Loan Term | 10 years |
M&T Bank is a well-established financial institution that operates more than 775 branches across the US. It offers a wide range of banking services and products including checking accounts, savings accounts, credit cards, personal loans and mortgages.
It also offers a 0.5% APR discount on a secured personal loan, provided you use your pre-existing savings account or certificate of deposit up as collateral.
M&T Bank offers unsecured personal loans up to $25,000 and secured loans up to $100,000. Loan terms range from 60 to 120 months, and APR starts at a low 8.49%. In addition, you can use an M&T Bank loan for just about anything that isn’t an educational cost. This means you can borrow for a vacation, car or other purpose — provided you qualify.
M&T has a range of personal loan options, but be aware of the possible drawbacks to borrowing with this lender:
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.
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.
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:
M&T Bank is a well-established financial institution with a range of accessible loan types and terms. Its relationship discounts can help reduce potential fees associated with a loan from this lender, but be on the lookout for hidden penalties and prepayment fees.
Compare your personal loan options with other lenders before settling on a decision. You may be able to find more competitive rates — or a lender that doesn’t require collateral — elsewhere.
