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For whom Banco PNC is best suited
PNC Bank personal loans are best if you:
- You need a small loan.PNC offers personal loans starting at $1,000. While some lenders require you to borrow at least $2,000, PNC allows you to borrow a smaller amount.
- You want to apply with a co-borrower.Adding a credit worthy co-borrower can help you qualify for a better interest rate.
- They are already customers of Banco PNC.If you already have a PNC account, it may be easier to get a loan from your bank than starting over with a new lender. Additionally, PNC Bank offers an interest rebate of 0.25% when you set up automatic payment on your loan through your PNC checking account.
Who the PNC Bank is not suitable for
PNC Bank Personal Loans may not be right for you if you:
- Need a loan of $35,000.PNC Bank limits its personal loans to $35,000 or less in some states. For example, California residents can only withdraw up to $10,000. Some other lenders allow you to borrow up to $100,000.
- You can get a better price elsewhere.You may qualify for a lower APR from another lender, especially if you have excellent credit. It's worth researching to find the best price.
- want to avoid late fees.PNC Bank charges 10% of your payment amount or $40, whichever is greater, if your payment is late. If you want to avoid these fees, it might be worth finding a lender that doesn't charge late fees or a lower amount. However, late payments can hurt your credit score, so do your best to avoid them anyway.
- Need to pay off college or refinance student loans.PNC Bank prohibits the use of its personal loans to pay post-secondary education expenses or to refinance student loan debt.
PNC bank loan details
Please note that the following loan amounts, interest rates and terms may vary by location. You can check the loan details for your specific location by entering your zip code on the PNC Bank website.
Loan amounts and conditions
- loan amounts.PNC Bank offers personal loans ranging from $1,000 to $35,000. Residents of some states have lower credit limits.
- Loan Conditions.You can choose terms from 12 to 60 months, depending on the loan amount.
Personal Loan Costs
- APR.Prices may vary by zip code.
- incorporation fee.PNC Bank does not charge any setup or application fees.
- Late fees.PNC Bank charges 10% of the payment amount or $40, whichever is greater, for payments that are more than 15 days late.
- Early payment penalty.PNC Bank does not charge any prepayment fees.
benefits and features
- Online prequalification.You can check your rates on the PNC Bank website with a smooth credit check that won't affect your credit score. If you decide to submit a full application, PNC Bank will process a strong credit application which may temporarily knock some points off your credit score.
- hardship programs.If you are experiencing financial difficulties, PNC Bank can offer assistance programs that can help you. You must submit an application and provide detailed information about your hardship case, your income and expenses.
How to Qualify for a PNC Bank Personal Loan
Personal loan applications are approved or denied based on a variety of factors. Lenders all have their own specific underwriting requirements, but generally include information from an applicant's credit profile and other factors that demonstrate the ability to repay the loan, such as: B. Income. Meeting the following requirements does not guarantee approval, but may help you decide whether you are a PNC bankprivate loanit's the right fit.
PNC Bank does not disclose minimum credit requirements, but looks for borrowers who have a history of paying their loans on time. We recommend a score of at least 670 to increase your chances of admission.
PNC Bank does not share minimum income requirements. According to a customer service representative, they look at the big picture of your finances to determine if you are a credible candidate for a loan.
Co-signatories and co-applicants
PNC Bank allows you to apply for a personal loan with a co-applicant. It is preferable for the co-applicant to live in the same household.
If you apply together, you may qualify for an even better rate. However, your co-applicant is equally liable for the debt and the loan repayment affects your creditworthiness. Timely payments can help improve credit, while late payments can damage credit.
How to apply for a personal loan from PNC Bank
You can apply for a personal loan from PNC Bank online, over the phone or in person at one of the branches. You can start the process by pre-qualifying on the PNC Bank website.
- Consult your tariffs.Get started with online prequalification with no impact on your credit score. You provide personal information such as your name, address and telephone number. You also provide your income, monthly housing payment, social security number, and create a password for your account.
- Check your offers.PNC Bank will immediately show pre-qualification offers if you meet the loan criteria. You can review your options to see if something suits you. Please note that a pre-qualified interest rate is not guaranteed - PNC Bank must make a loan application before making a final loan offer.
- Submit a complete application.If you decide to proceed with the credit process, please submit an application complete with additional information. You will likely need to submit supporting documents such as paychecks or bank statements and agree to a tough credit check. According to a customer service representative, PNC Bank may ask you to submit your application in person at a branch if you live nearby.
- Wait for approval and get your loan funds.PNC Bank will review your application and make a final decision, usually within 48 hours.
After receiving your money, you make monthly payments on your PNC Bank personal loan for the agreed term. There are several ways to make your payments, including online, via a mobile app, over the phone, in person at a branch, or by mail. You can set up automatic payments to be debited from your bank account every month on the payment due date.
As one of the largest banks in the US, PNC Bank is a legitimate source for personal loans. However, customer reviews on TrustPilot and the Better Business Bureau (BBB)are largely negative.
PNC Bank received a rating of just 1.3 stars out of 5 on TrustPilot based on 327 reviews and 1.12 stars out of 5 on the BBB based on 439 reviews. Dissatisfied customers complained about high fees, processing delays, and long customer service hold times.
PNC Bank received slightly more positive reviews in Consumer Affairs and Credit Karma, with an average rating of 3.5 stars out of 5 on both sides. Some customers have reported that they have had good banking experiences with PNC.
It is worth noting that these reviews are not specific to PNC Bank Personal Loans but cover the entire scope of PNC banking services.
How PNC Bank personal loans stack up
Banco PNC x SoFi
While PNC Bank limits your personal loans to $35,000, you can borrow up to $100,000 with SoFi. Likewise, it offers APRs starting at around 7% and allows you to apply with a co-applicant. If you are looking to fund a large project or expense, SoFi may be a preferred option for PNC Bank due to its significantly higher credit limits.
Related:SoFi Personal Loans Review
PNC Bank vs. Avant
Avant has the same credit limit as PNC Bank, with a maximum of $35,000. However, Avant requires you to withdraw at least $2,000, double the PNC minimum. Avant's interest rates also start out higher (around 9%) than PNC Bank's.
Related:Avant Personal Loans Review
Bank PNC vs. Update
Like PNC Bank, Upgrade lets you borrow as low as $1,000, but offers larger loans of up to $50,000. This lender has a relatively low credit score requirement of 560 and lets you check your rates online with a soft credit check. It might be worth checking their rates with PNC Bank and Upgrade (as well as any other lenders you might pre-qualify with online) to see which offers the best rate.
Related:Update Personal Loan Review
minimum credit rating
7,99% a 23,43%
$ 5.000 a $ 100.000
Example: A $5,900 loan with a 4.75% management fee and a $5,619.75 mortgage amount, repayable in 36 monthly installments, with an APR of 29.95%, would have monthly payments of $250, 30. If approved, the actual credit terms a customer qualifies for may vary based on credit history, state law and other factors. Minimum loan amounts vary by state.
2,000 to 35,000 US dollars
If approved, the actual credit terms a customer qualifies for may vary based on credit history, state law and other factors. Minimum loan amounts vary by state.
9,95% a 35,99%
minimum credit rating
Via the secure Credible.com website
Update personal loans
1,000 to 35,000 US dollars
7,96% a 35,97%
minimum credit rating
Update personal loans
2,000 to 36,500 US dollars
7,99% a 35,99%
minimum credit rating
We analyzed PNC Bank using 16 data points across the categories of Loan Details, Loan Cost, Eligibility & Affordability, Customer Experience, and Application Process. We ranked PNC Bank based on the weight given to each category:
- Credit Cost:35%
- Loan details:20%
- Eligibility and Accessibility:20%
- Customer experience:fifteen%
- Application process:10%
Within each category, we also consider various characteristics, including available loan amounts, repayment terms, APR ranges, and applicable rates. We also review credibility requirements, whether the lender accepts co-signers or joint applications, and the lender's geographic availability. Finally, we evaluate PNC Bank's support tools, borrower benefits, and features that simplify the lending process, such as prequalification options and mobile apps.
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