Want to keep all of your finances in one place? Live in the eastern half of the US? You might want to consider PNC Bank. This regional bank offers loans for a wide range of purposes like paying for a wedding or buying inventory for your small business. Its personal loans come in lower amounts than much of the competition, so it might not be for you if you’re looking to finance a private jet. Read on to get an idea of whether this bank is right for you, and check out our in-depth reviews for more details.
PNC Bank offers a variety of loans including personal, student, car and business loans. Here’s a snapshot of how they work.
| Loan type | What it is | APR | How much you can borrow | Loan term |
|---|---|---|---|---|
| Personal loan | An unsecured personal term loan that you can use for any legitimate purpose, including home improvements, refinancing debt or paying for a large one-time expense. | 7.69% to 26.44% | $250 to $50,000 | Up to 5 years |
| Student loan refinancing | A refinancing loan to replace your current private and federal student loans. | 4.16% to 7.07% (varies by loan term) | $10,000 - $75,000 | 10 to 15 years |
| Private student loan | Loans for undergraduate students to pay for school. | 2.59% to 7.19% | $1,000 - $225,000 | Up to 15 years |
| Auto loan | A term loan to pay for a new or used car, lease buyout or refinance your current car loan. | Starting at 2.94% | $5,000 – $50,000 | 1 to 6 years |
| Business loan | Financing for any legitimate business purpose. Secured and unsecured business term loans, real estate financing, auto loans, SBA loans and lines of credit. | Not stated |
| Up to 84 months |
| Mortgage | Purchase or refinance a home. | Varies depending on your location and credit | Up to $453,100 | 10–30 years |
The loans listed above are available to residents of the following states: AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, WV. With the exception of undergraduate student loans, which are available in all 50 states.
PNC Bank also offers personal lines of credit, secured installment loans and student loans for higher education and postgraduate expenses. To learn more about how these loans work, read our review of PNC Bank personal loans or PNC Bank student loans.
PNC Bank has mixed online reviews as of April 2019. It isn’t accredited by the Better Business Bureau (BBB) and only has an A- rating. The number of customer complaints is also staggering: There are nearly 1,500 lodged against it. And reviews are largely negative as well, with the majority of bank customers rating it with one star.
Like many banks, the most popular complaint is poor customer service. Based on customer reviews, PNC Bank appears to frequently ask customers to jump through unnecessary hoops to get issues resolved. But keep in mind these reviews are about the bank’s various products. How customer service specifically handles questions and issues about loans may be different based on your location and the employees you work with.
PNC Bank loan costs vary widely depending on your ZIP code, loan type, loan amount and creditworthiness. Personal loans Starting from 7.24% APR, though the starting rate might be higher in your area. Student loans start at 3.69% for fixed rates that stay the same over the life of the loan and 4.16% to 7.07% (varies by loan term) for variable rates that change over time. PNC Bank caps both fixed and variable APRs at 13% on student loans.
Auto loans are perhaps the least expensive financing option that PNC Bank offers, with APRs Starting at 2.94%. Business loan rates are generally determined on a case-by-case basis so you might want to reach out to PNC Bank to find out what rate you can expect.
The best way to compare the costs of loans is by comparing their annual percentage rate (APR). This number is an expression of your loan’s interest rate and any other mandatory fees (not including prepayment penalties or late fees).
Since interest adds up over time, the longer you take to pay off your loan, the more you’ll pay in total. Generally, you’ll get a more accurate comparison if you look at loans with a similar term length.
Generally, yes. PNC Bank uses EV SSL certificates to protect your data while entering sensitive information online — or simply browsing its website. Look for the green lock on the address bar when you’re visiting the legitimate PNC Bank site. EV SSL certification means that PNC Bank not only protects your information, but that its site has passed an identity authentication test that ensures you’re on a trusted page.
After you’ve given PNC Bank your personal information, it shares your information with other affiliates for marketing and everyday business purposes like processing transactions. However, you can limit how much it shares by calling 800-762-2118 or through its site once you’re an existing customer.
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How we picked theseThe Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
You can apply for a PNC Bank loan online, over the phone or in person at one of its branches. The one exception is business loan applicants, who can’t apply online. To start your online application, follow these steps.
PNC Bank’s eligibility requirements vary, depending on what type of financing you apply for. However, you typically need to meet the following requirements to qualify for a PNC Bank loan of any type:
PNC Bank student loans are available to residents of all 50 states, though you’ll need to go to an eligible school to qualify. Otherwise, you’ll need to live in one of the following states to be eligible for a PNC Bank loan.
PNC Bank could be an attractive option for those living in the southeast, midwest or on the east coast who would rather stick with one bank for all of their financing needs. It only operates in 20 states, so make sure you’re eligible before you apply. Since its rates and terms vary by location and other factors, you might want to reach out to PNC Bank before you apply to learn what you personally can expect.
Want to know more? Find out how PNC Bank stacks up to other providers byvisiting our loans guide.
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