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$50,000
Max. Loan Amount
6.99% to 18.99%
APR
Varies
Min. Credit Score
| Product Name | TD Bank Personal Loans |
|---|---|
| Min. Loan Amount | $2,000 |
| Max. Loan Amount | $50,000 |
| APR | 6.99% to 18.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | Varies |
| Minimum Loan Term | 1 year |
| Maximum Loan Term | 5 years |
Review by
Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She likes to go to the movies and go for runs outdoors.
TD Bank is ideal for current customers looking to keep their finances all in one place. You can borrow as much as $50,000 without having to provide any collateral. Its loans don’t come with any origination, application or prepayment fees. And you can even score a 0.25% rate discount by signing up for automatic payments from your TD Bank checking or savings account.
But you’ll need good to excellent credit to qualify. And you must live in one of the 16 states it services to be eligible. It’s also not a good option if you want a fully online application process — you’ll need to visit your local branch to finalize your loan and sign your documents. It also doesn’t have the best customer reviews.
Not sold on TD Bank? Compare your other options below.
To qualify for an unsecured personal loan from TD Bank, you must meet the following criteria at a minimum:
TD Bank is open to residents of the following states:
Personal unsecured lines of credit from TD Bank are available for anyone. There is no origination fee or minimum draw amount, and you only pay an annual fee of $25. Interest is variable and calculated based on the Prime Rate. Your potential APR could range from 10% to 18%, and you may be eligible to borrow anywhere from $20,000 to $50,000.* A rate discount of 0.25% may also be available if you’re an eligible account holder.
To apply, you’ll need to have information about your income, employment and monthly expenses on hand. Once your application is finished, a lending specialist will contact you as soon as the next business day. If you’re approved, you’ll have access to your line of credit for up to 10 years. You can withdraw as much as you need up to your credit limit, and monthly payments can be as low as $500.
* APRs and loan amounts may vary by state
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1 out of 5 stars, based on 128 customer reviews |
| Trustpilot score | 1.3 out of 5, based on 175 customer reviews |
| Customer reviews verified as of | 24 December 2019 |
TD Bank gets pretty negative reviews from former customers. Complaints center around high fees, a glitchy website and rude customer service representatives. One borrower had the APR on their loan increase suddenly out of nowhere. Another had difficulty qualifying for a personal line of credit, even when they improved their credit score to 740 — which is what a customer service representative told them to do.
To start your online application, visit TD Bank’s website. Navigate to its personal loans section and click Apply now under the unsecured loan option.
Your application will be reviewed by a TD Bank employee. You can check on its status at any time through TD Bank. How to do so will be listed on the final page of your application.
TD Bank’s unsecured personal loans come with monthly repayments with terms as long as five years. We recommend setting up automatic payments from your TD Bank checking or savings account to avoid late payment fees — which can be as high as 5% of the amount due. This will also score you a 0.25% rate discount. To avoid excessive interest charges over the life of your loan, consider paying more than the amount required each month. There’s no fee for early repayment.
Keep an eye on your bank account and loan balance. If you notice anything off, reach out to a TD Bank customer service representative as soon as possible.
See how TD Bank compares to the competition with our guide to personal loans.