If you’re a customer with a major bank such as Chase or Bank of America, you probably assume you can get a personal loan with either bank without a hitch.
However, you’re in for a surprise — Chase personal loans and Bank of America personal loans don’t exist. Here’s your guide for figuring out which big banks can help you get a personal loan (and which ones aren’t worth your time).
3 major banks that don’t offer personal loans
It’s not just Chase that’s out of the personal loans game. The third-biggest bank in the U.S. by assets also has forgone this product, so you won’t find Bank of America personal loans. Capital One doesn’t offer personal loans either.
Get a personal loan from these 9 big banks
Not being able to access Chase personal loans can be a drag, but you can find a great personal loan — even if it means you have to shop outside your preferred lender.
We surveyed some of the biggest banks in the U.S to find those that offer personal loans. Here’s a highlight of personal loans offered by major banks. See if yours is on the list.
1. Wells Fargo personal loans
If you’re already a member of Wells Fargo or want a bank that’s accessible with a wide range of other services, this second-biggest bank could be for you.
Wells Fargo personal loans have no origination fees and can be used to borrow $3,000 to $100,000. The bank also offers a Wells Fargo line of credit, which can be used in place of a personal loan.
Check out our Wells Fargo personal loan review for an in-depth look at the fees, features, and terms this major bank offers.
2. Citibank personal loans
Citibank offers personal loans from $2,000 to $50,000.
Its personal loans offer terms of one to five years, so you can easily choose whether you want to pay off debt quickly or make affordable monthly payments.
3. U.S. Bank personal loans
The Premier Loan from U.S. Bank offers competitively low rates and loans from $5,000 to $25,000. You can securely apply for a U.S. Bank personal loan online.
4. PNC personal loans
PNC personal loans come in two varieties: secured and unsecured.
5. TD Bank personal loans
If you need cash fast, a TD Bank personal loan can make it happen. The TD Express Loan offers a quick loan application process. You can borrow $2,000 to $15,000, and funds could be available within 48 hours after you apply.
A TD Bank unsecured loan won’t have the same fast turnaround, but it offers amounts up to $50,000.
6. BB&T personal loans
You can get both BB&T personal loans and personal lines of credit. However, the bank doesn’t provide many details about these products on its site. Contact your local branch for more information about BB&T’s terms for personal loans.
7. SunTrust Bank personal loans
SunTrust Bank offers a range of unsecured loans for different purposes, from consolidating debt to financing home improvements or covering private school tuition.
Loan terms will vary by borrowing purpose, but SunTrust provides a wide range of loan lengths and amounts. These loans also offer competitive interest rates and a 0.50% rate discount for setting up autopay.
8. Fifth Third Bank personal loans
Fifth Third Bank offers unsecured personal loans, or you can get a secured personal loan using savings, CDs or investments as collateral.
9. KeyBank personal loans
KeyBank also offers secured and unsecured personal loan options. Both loans can be used to borrow amounts starting at $5,000. Current KeyBank customers also get Relationship Rewards points for opening a personal loan with KeyBank.
Should you get a personal loan with a major bank?
Big banks are just one type of lender you can turn to for a personal loan. You also can look at credit unions, local banks, and online personal loan lenders.
Borrowing from a major U.S. bank does have benefits, including the following:
- Established relationship. If you’re already a member, you know and trust this bank. It also has incentives to keep you on as a customer.
- Easy application process. From filling out the application online to speaking with a loan officer in person, major banks offer well-built processes to help you apply for a loan. It might be easier to get approved for a loan or get an interest rate discount if you’re a member in good standing.
- Fast personal loan approval. Major banks usually have fast application processes and the ability to fund a large number of personal loans.
- Multiple locations. If issues arise with your personal loan, there’s no replacement for face-to-face customer service. Major banks offer more branches throughout the U.S.
- Wide variety of options. Maybe you decide a personal loan isn’t for you. Most major banks offer other loans as well, such as home equity lines of credit or auto loans.
Major banks offer the kind of service many borrowers value. However, many fintech companies and online lenders are able to offer a better value thanks to lower overhead and a smaller line of products.
Check out our roundup of the best personal loans of 2018 and see how their rates measure up to what major banks offer.
Interested in a personal loan?Here are the top personal loan lenders of 2018!
|Lender||Rates (APR)||Loan Amount|
|1 Includes AutoPay discount. Important Disclosures for SoFi.
2 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|7.39% - 29.99%||$1,000 - $50,000|
|4.98% - 14.24%1||$5,000 - $100,000|
|8.00% - 25.00%||$5,000 - $35,000|
|5.99% - 16.24%2||$5,000 - $50,000||Visit Citizens|
|5.99% - 35.89%||$1,000 - $40,000||Visit LendingClub|
|5.25% - 14.24%||$2,000 - $50,000||Visit Earnest|
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