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TD Bank Express Loan review

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Apply for a fixed rate loan and receive funds in as little as 48 hours.

It’s not always possible to find a bank that offers quick turnaround, but TD Bank has you covered. Its Express Loan program allows you to borrow a midsized loan, and you may be able to receive funding in as little as 48 hours. There’s always downsides, though. You may be able to find more competitive rates elsewhere, and if you don’t live in one of TD Bank’s serviced states, you won’t be able to apply.

$25,000

Max. Loan Amount

6.99% to 18.99%

APR

Have a credit score of at least 660, at least 18 years old and a resident of a serviced state

Min. Credit Score

Details

Product NameTD Express Loan
Min. Loan Amount$2,000
Max. Loan Amount$25,000
APR6.99% to 18.99%
Interest Rate TypeFixed
Min. Credit ScoreHave a credit score of at least 660, at least 18 years old and a resident of a serviced state
Turnaround Timeas little as 48 hours

What is a TD Express Loan?

TD Express Loans are small to midsized personal loans with amounts ranging between $2,000 to $25,000 and terms ranging from one to five years. There are no origination or application fees, and interest rates are low — 6.99% to 18.99 with an automatic rate discount of 0.25%.

You’ll need to have a score of at least 660 to qualify, but because there’s no income verification required, you may be able to have your funds deposited into your bank account in as little as 48 hours.

Other types of loans available from TD Bank

  • Unsecured loans. While not as fast, you can take out a term loan between $2,000 to $50,000. TD Bank charges interest between 8.99% to 15.99%.
  • Unsecured lines of credit. If you need flexibility with your funds, you can apply for a line of credit between $20,000 and $50,000. APR ranges from 10% to 15% and includes the $25 annual fee.

Compare your other personal loan options

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SoFi personal loans
5.99% to 18.85%
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Credible personal loans
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LendingClub personal loans
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Prosper personal loans
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Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
Figure personal loans
5.99% to 15%
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Get prequalified in just a few clicks without hurting your credit. This lender offers offers quick turnaround for loans starting at $5,000.
PenFed Credit Union personal loans
6.49% to 17.99%
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With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Upstart personal loans
7.68% to 35.99%
580 or 600 depending on state of residence
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This service looks beyond your credit score to get you a competitive-rate personal loan.
OneMain Financial personal loans
18% to 35.99%
Varies
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An established online and in-store lender with quick turnaround times. Poor credit is OK.
Monevo personal loans
1.99% to 35.99%
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NetCredit personal loans
34% to 155%
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Check eligibility in minutes and get a personalized quote without affecting your credit score.
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What are the benefits of a TD Express Loan

  • Quick funding. You can apply online and finish the application process within a couple business days. If approved, your loan will be available in as little as 48 hours.
  • No income requirement. TD Bank relies on your credit history when processing your application, but you may still have to show proof of income when you apply.
  • Autopay discount. You can save 0.25% on your interest rate if you set up autopay from a TD Bank account.
  • No extra fees. TD Bank doesn’t charge an origination or an application fee, keeping the cost of your loan down.
  • No prepayment penalty. TD Bank doesn’t charge a prepayment penalty if you choose to pay your loan off early.

What to watch out for

  • Potentially high APRs. Your rate could be higher if you have a lower credit score. But it may still be less than some other personal loan options.
  • Good to excellent credit required. You’ll need good to excellent credit — a score of at least 660 — in order to qualify for a loan.
  • Not available in all states. You’ll need to live in one of the 15 eligible states or Washington, DC if you want to apply. Otherwise, you may want to compare your other options.

Am I eligible for a TD Express Loan?

While TD Express Loans don’t require a specific income, you’ll still need to meet three basic eligibility criteria in order to qualify.

  • Have a credit score of at least 660
  • Be at least 18 years old
  • Be a resident of a serviced state

How do I apply?

When you’re ready to apply for a TD Express Loan, visit the TD Bank loans page and click Apply now. You’ll need to be ready to enter your Social Security number, expenses, employment and income in addition to your personal information.

  1. Select Personal Unsecured Loan from the drop down menu, then select the branch you want to close your loan with.
  2. Enter how many people are applying for, if you want to set up automatic deductions, how much you want to borrow, the loan purpose and if you are a TD Bank or TD Ameritrade employee.
  3. Select the term you want to apply for.
  4. Read over the e-Sign Disclosure and Patriot Act information.
  5. Enter information about yourself or the first borrower.
  6. Enter information about your employment and income.
  7. Enter the combined expenses of each applicant.
  8. Submit your application by reviewing the disclosure sheet and selection Review and Print.
  9. Read over your application and submit. A TD Bank lending specialist will contact you within one business day to finalize your application.

I got a TD Express Loan. Now what?

Once you’ve received a TD Express loan, it’s important that you keep up with monthly payments. TD Bank charges a late fee of either 5% of the minimum payment due or $10, whichever is lesser.

You may also want to set up automatic payments to avoid the chance of paying a late fee. As a bonus, you’ll also receive an APR discount of 0.25%. And if you want to save on interest, there are no prepayment penalties.

Bottom line

TD Express Loans can get you money in as little as 48 hours. With decently low interest rates and long terms, it might be a solution if you need to borrow money quickly to cover an unexpected expense. However, if you live in a state that TD Bank doesn’t service or don’t have good to excellent credit, you might want to compare other loan options before making your final decision.

Frequently asked questions

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2 Comments

    Default Gravatar
    Elaine
    January 12, 2018

    What do I have to do to get a loan to pay for my bill and how much will have to pay back a month I get 750 a month and I need a 500 dollars loan

      Avatarfinder Customer Care
      Joanne
      January 13, 2018

      Hi Elaine,

      Thanks for reaching out.

      For you to get a loan with TD bank, you need to check on the eligibility requirements listed on this page to ensure that you are qualified.

      You will also need to provide these pieces of information to apply for an express loan:
      1. Your personal information. Including your name, address, phone number, Social Security number and date of birth.
      2. Your employment history. Including your income, bonuses, overtime and any other income.
      3. Your financial details. Including your bank account information for autopay.

      The minimum loan amount with TD Bank is $2000. Alternatively, you may want to check on $500 loan should wish to look for more options on where to avail one.

      Hope this helps,
      Joanne

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