PNC Personal Loans:
In addition to other financial services, PNC provides unsecured and secured personal loans. It provides loans ranging from $1,000 to $35,000. There are no origination fees, and there is no prepayment penalty for borrowers who pay off their loan balance early.
However, the lender charges late payment penalties. PNC personal loans have a fixed APR, though available rates vary depending on location.
PNC’s personal loan rates in your area can be found by visiting the “Unsecured Personal Loan” page on their website and entering your zip code. Then, for multiple loan amounts, you can choose a repayment term and view available rates and monthly payment ranges. The displayed APRs, however, include a 0.25% discount for PNC customers who choose automatic payments through their PNC checking account.
Overview of the Company:
PNC Bank is a subsidiary of the 1852-founded bank holding company PNC Financial Services Group, Inc. PNC provides all of the services you’d expect from a bank, such as personal loans, personal lines of credit, and investment lines of credit.
The bank has over 2,600 branches in 29 states and a network of approximately 19,000 PNC and partner ATMs. These ATMs are also available in states where there are no branches. PNC completed its acquisition of BBVA in 2021, expanding the bank’s physical presence.
PNC Personal Loans Calculator:
PNC Personal Loans Rates:
PNC personal loan interest rates range from 5.99% to 32.24%. They are determined by how much you wish to borrow, how long you wish to borrow for, and where you live. You can view the lowest potential rates for your zip code for unsecured personal loan online, or call PNC at 1-877-2255-762 to learn more.
Autopay discount: One nice feature that PNC offers is a 0.25% discount if you set up automatic loan payments from a PNC checking account.
Origination fee: PNC charges no origination fee.
Other fees: PNC does not charge a penalty if you pay off your loan early. There is a late fee, but the amount depends on how much you borrow, according to a representative.
PNC also offers decent-sized loans ranging from $1,000 to $35,000 with terms ranging from 12 to 60 months.
PNC performs well in this category overall. Though it can be difficult to find rates for your location, PNC’s maximum APR is significantly lower than what most other lenders charge. Furthermore, the absence of an origination fee is a significant benefit.
How To Manage Your PNC Bank Personal Loan Account:
Personal loans can be managed through PNC’s online banking portal. You can access their website or app by logging in. You can manage and make payments as well as view the loan balance, account activity, and payoff options from there.
How to Qualify for a PNC Bank Personal Loan | PNC Personal Loan Requirements
A number of factors determine whether a personal loan application is approved or denied. Each lender has their own set of underwriting requirements, but these typically include information from an applicant’s credit profile as well as other factors that demonstrate the applicant’s ability to repay the loan, such as income. Meeting the requirements listed below does not guarantee approval, but it can help you decide if a PNC Bank personal loan is a good fit for you.
- Credit Score Prerequisites: PNC Bank does not disclose a minimum credit score requirement, but it looks for borrowers who have a history of making on-time loan payments. To increase your chances of approval, we recommend a score of at least 670.
- Income Prerequisites: PNC Bank has no minimum income requirement. According to a customer service representative, it considers your entire financial picture to determine whether you’re a reliable candidate for a loan.
- Co-applicants and co-signers: You can apply for a personal loan with a co-applicant at PNC Bank. It prefers that you and your co-applicant live in the same home.
You may be able to get a better rate if you apply jointly. However, your co-applicant is equally liable for the debt, and loan repayment will have an impact on their credit. Payments made on time can help improve credit, whereas late payments can harm credit.
How to Apply for a Personal Loan from PNC | PNC Personal Loans Applications :
PNC offers unsecured personal loans that can be applied for online, over the phone, or in person at a branch. The online application is the quickest way to begin the process.
Online Application Link: https://personalloans.pnc.com/apply/1068560#!/personal
To apply online, you must provide the following information:
- Your full name, Social Security number, and date of birth.
- Your driver’s licence, a state-issued photo ID, or a United States passport.
- Your current address (and previous address if you’ve lived there for less than two years).
- Your annual income (plus any additional earnings you want PNC to consider).
- The sum you wish to borrow.
If you already have an account with PNC, the application will be pre-filled for you. Those applying with a co-applicant must also include their co-applicant’s information.
There is little information about the approval process available online. Borrowers in some states, however, may be required to visit a branch to sign loan closing documents before receiving funding.
Scores for PNC Personal Loans by Review Category Ana Rating
|Rates, Fees & Other Terms||5/5|
|Requirements & Application Info||5/5|
|Reviews & Transparency||3.3/5|
Pros & Cons:
- Provides competitive APRs
- There are no application or origination fees.
- Allows you to submit an application with a co-borrower.
- With debt consolidation loans, you can make direct payments to your creditors.
- A wide range of repayment terms are available.
- There is a late payment fee.
- Its website contains limited information.
- Product availability varies by location.
- There are no large loan amounts.
Set Up Automatic Payments And Receive A Discount On Your Interest Rate:
One significant advantage of a PNC loan is that current PNC customers can save money by setting up automatic payments. You’ll get a 0.25% rate reduction if you link your existing PNC checking account and set up payments. This benefit can save you hundreds of dollars over the life of the loan.
Credit Score And Income Are Required:
PNC does not specify any minimum income or credit requirements for loan eligibility. Instead, you must demonstrate to PNC that you will be able to repay the loan. While a higher credit score and income will undoubtedly improve your chances, neither is required. However, we’ve reviewed many personal loans, and based on the interest rates offered by PNC, you’ll most likely need good credit to be approved.
We can estimate this because a low APR range (when compared to personal loans from competitors) usually necessitates higher credit scores. Furthermore, PNC’s interest rates are quite low.
PNC Personal Loans Reviews:
PNC personal loans have some of the market’s lowest interest rates, starting at 5.99%. However, the rate you may be assigned is determined by where you live. To find out, you must speak with a representative and provide your zip code.
You do not have to be a PNC customer to apply, but existing customers get the most benefits, such as a rate discount for setting up autopay from a PNC account and a completely online application process.
A PNC personal loan has no official minimum credit score. There are no origination or prepayment fees on PNC loans.
PNC is only present in 28 states and the District of Columbia. People in any state, however, can apply for a loan by applying online or by phone
Customer Support | Phone Number
PNC customers can call customer service Monday through Friday from 7 a.m. to 10 p.m. ET, and Saturday and Sunday from 8 a.m. to 5 p.m. ET. Support is also available via the PNC Twitter account, but the bank’s website does not include an online chat tool. Customers and prospective borrowers can also visit PNC’s support page to find answers to commonly asked questions.
Where Do I Pay Back PNC Personal Loans?
Make a payment over the phone with a PNC Agent. Call 1-888-PNC-BANK to speak with a PNC representative (1-888-762-2265). If you’re paying from a non-PNC deposit account, make sure you have your account number and routing number handy. You can make a payment at any PNC location.
PNC personal loans FAQs:
Is it possible to refinance a personal loan with PNC?
Borrowers are not permitted to refinance an existing PNC personal loan with a new PNC instalment loan. The bank does, however, offer personal loans to consolidate third-party, non-student loan debts.
How do I find out if PNC has approved my loan? | PNC personal loan status
You will know if PNC approved you because you will receive an email with an application decision. Depending on the type of product you apply for, PNC may approve you the same day you apply or within 30 days.
In the meantime, you can check the status of your application online or by visiting a branch. Remember, approval for a PNC loan or credit card is never guaranteed.
When can I expect my funds?
PNC does not specify the length of time it takes to receive personal loan funds. Competitors may provide funding in as little as one day or as long as a few days.
Is it possible to have a co-signer or submit joint applications?
Joint Applications PNC accepts joint applications but not co-signers. Check the box “Add a Co-Applicant” on the first page of the loan application form to apply for a personal loan with a co-applicant. The application is then moved on to the co-applicant version.
Does PNC accept bad credit?
PNC’s unsecured personal loans are available to borrowers with fair to good credit, but loan offerings vary by ZIP code. Many, if not all, of the products featured here are provided by our partners, who compensate us.
How does PNC do personal loans? | PNC’s approach to personal loans?
PNC offers personal, unsecured instalment loans up to $35,000 as part of its product suite. Applicants are evaluated based on their credit history, ability to repay, and income. A variety of loan amounts and repayment terms are available. There is no prepayment penalty, and there is no origination or application fee.
Is it possible to pay off a PNC personal loan early?
There are no application or origination fees at PNC Bank, and there are no prepayment penalties for making extra payments to pay off your loan sooner.
What are my chances of getting approved by PNC?
If you have a low debt-to-income ratio and meet PNC’s loan requirements, your chances of getting a loan are good. Some requirements include being at least 18 years old, having enough income to make monthly payments, and having at least bad credit. If you meet all of the requirements, your chances of approval are high, but approval is never guaranteed.