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PNC Bank personal loans review
This regional bank offers competitive rates but limits the amount you can borrow.
finder.com’s rating: 3.7 / 5.0
★★★★★
Bottom line: PNC Bank’s personal loans could be an easy choice for current customers. But go with another provider for lower rates and higher loan amounts.
Details
| Min. Loan Amount | $1,000 |
|---|---|
| Max. Loan Amount | $35,000 |
| APR | Starting from 7.24% |
| Interest Rate Type | Fixed |
| Min. Credit Score | Not stated |
| Loan Term | 6 months to 5 years |
Pros
- Autopay discount of 0.25%
- No origination or application fees
- Coapplicants accepted
- Wide range of loan terms
Cons
- Low maximum loan amount of $35,000
- Only available in 19 states and Washington, DC
- Mostly negative customer reviews
PNC Bank personal loan rates, fees and term
The APR for a personal loan from PNC ranges from 7.24% to 17.49% — relatively competitive for a bank, but not the lowest out there. You can borrow anywhere from $1,000 to $35,000. And unlike many other lenders, terms can be as short as 6.
You can use this calculator to estimate your monthly payment with PNC.
Monthly repayments calculator
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| Your loan |
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| Interest rate |
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How PNC Bank compares to other lenders
Here’s how this regional bank stacks up to other similar personal loan providers.
★★★★★
| Find out more |
|---|
Starting APR No data |
Loan term 6 to 60 months |
Loan amount $1,000 – $35,000 |
Min. credit score Not stated |
★★★★★
| Check my rate |
|---|
Starting APR Competitive |
Loan term Flexible |
Loan amount $5,000 – $100,000 |
Min. credit score Good to excellent credit |
★★★★★
| Check my rate |
|---|
Starting APR 8.05% to 35.89% |
Loan term 36 to 60 months |
Loan amount $1,000 – $40,000 |
Min. credit score 640 |
Compare even more personal loans
PNC Bank reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.17 out of 5 stars, based on 142 customer reviews |
| BBB customer complaints | 1604 |
| Trustpilot score | 2.3 out of 5 stars, based on 17 customer reviews |
| Customer reviews verified as of | 19 October 2020 |
The most recent reviews of PNC don’t mention its personal loans. However, many customers have had problems with customer service and random fees — which could make working with PNC difficult if you run into any issues during your loan term.
How to qualify
To apply for a PNC Bank personal loan, you must meet a few basic requirements:
- Reside in an eligible state
- US citizen or permanent resident
- At least 18 years old
There are no hard income or credit requirements, though you typically need to have a credit score above 700 to qualify. If you don’t have strong credit, you might want to apply with a creditworthy coapplicant to strengthen your application.
Where are PNC Bank personal loans available?
You must live in one of the following states to be eligible for a PNC Bank personal loan:
- Alabama
- Delaware
- Florida
- Georgia
- Illinois
- Indiana
- Kentucky
- Maryland
- Michigan
- Missouri
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Virginia
- Wisconsin
- West Virginia
- Washington, DC
How to apply
You can apply by completing an application online, by phone or at a PNC branch. If approved, it will contact you with the steps needed to submit additional documents and finalize your loan. If you aren’t approved, PNC should send a letter within seven to 10 business days with details on its decision.
PNC allows you to make your monthly payment online, by mail or over the phone — just keep in mind that phone payments have an additional $10 charge.
To take advantage of its APR discount, sign up for automatic payments from your PNC checking account. You can stop your scheduled payment by contacting PNC Bank at least two days ahead of your due date.
PNC Bank lines of credit
PNC Bank lines of credit are similar to its unsecured personal loans. They’re available from $1,000 to $25,000 and don’t require collateral. PNC lines of credit are also revolving, which means your access to funds doesn’t have an expiration date. There is a minimum draw of $50, and interest is based on the prime rate — so expect it to fluctuate from month-to-month.
What sets it apart
PNC Bank personal loans fall on the lower end of the spectrum, which can be hard to find at larger national banks. But if you aren’t already a PNC Bank customer, it might not be worth it. It’s possible to find other products with lower rates and a wider range of options than this provider. Even with an online lender.
Is PNC Bank legit?
Yes, PNC is a legit national bank and lender. It has an encrypted website to help keep your data safe. And its privacy policy clearly outlines what personal information it collects, how it uses advertising and even how it uses your info on social media websites.
Scam alert: Don’t answer this fake PNC Bank email
The Better Business Bureau (BBB) issued an alert that several PNC Bank customers have received emails asking for their username and billing information. These emails are part of a phishing scheme and should be ignored. The BBB warns consumers not to click on any links or attachments if a customer receives a suspicious email.
See how PNC stacks up to competition with our guide to personal loans.
See other personal loan options
Use this table to compare personal loans that you might be eligible for.
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Personal loan ratings
★★★★★ Excellent
★★★★★ Good
★★★★★ 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.
Review by
Anna Serio
anna.serio@finder.comAnna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Expert review
PNC Bank’s personal loans might be a good option if you’re a current customer with very good credit — typically above 700. It offers competitive rates starting as low as 7.49%, which includes a 0.25% rate discount for signing up for automatic payments from your PNC Bank checking account. Even better, it doesn’t charge any origination or application fees. And you can borrow as little as $1,000 — lower than what some lenders offer.
But you’ll need to live in one of the 19 states it services to qualify. You also can’t borrow more than $35,000 — not ideal for high-dollar expenses or projects.
Not sold on PNC? Use our table to compare even more options.