Personal loans are versatile, allowing you to finance just about anything.
Whether you’re looking to consolidate debt, finance a large purchase, or buy a motor vehicle, PNC personal loans can be a solid lending option. Check out the following features PNC offers for both secured and unsecured loans and see which one is the right fit for you.
PNC personal loans review
PNC offers both unsecured and secured personal loans, giving you more options to meet your financial needs.
With an unsecured loan, you can borrow between $1,000 and $25,000 without providing collateral. Repayment terms range from six to 60 months, giving you flexibility in determining your monthly payment.
Secured loans range from $2,000 to $100,000 and require non-real estate collateral — an item worth the loan amount the bank can repossess if you default on your loan. For example, if you’re buying a car, boat, or RV, the vehicle can be the collateral.
PNC secured loans aren’t only for vehicle purchases, though. Like the bank’s unsecured loans, they can be used for just about anything. Repayment terms range from 12 to 84 months.
PNC personal loans fees and interest rates
Online lenders often offer the lowest interest rates and fees. But PNC personal loans are worth considering, even against the best.
PNC personal loans are largely fee-free. There’s no application or origination fee, and there’s no penalty if you pay off your loan early. However, there is a late fee of $36 if you miss a payment. Setting up autopay can help you avoid this fee.
As of August 2017, PNC unsecured personal loans have starting interest rates ranging from 5.99% to 10.44% APR. Your rate will depend on your loan term, loan amount, and creditworthiness.
|6 months||As low as 5.99% to 9.49%|
|12 months||As low as 5.99% to 9.49%|
|24 months||As low as 5.99% to 9.49%|
|36 months||As low as 5.99% to 9.49%|
|48 months||As low as 7.79% to 10.24%|
|60 months||As low as 7.99% to 10.44%|
PNC doesn’t publish interest rate information for its secured loans. Rates depend on how much you want to borrow, how long your repayment term is, and the collateral you’re using.
For both secured and unsecured personal loans, PNC offers a 0.25% interest rate discount. To get it, you need to have a PNC checking account and set up automatic payments from that account.
Financial and credit requirements for PNC personal loans
PNC doesn’t have any hard-and-fast rules when it comes to your credit score and income. The bank reviews your full financial profile to determine whether you qualify.
To improve your chances of getting approved with a low interest rate, make sure your credit score is good or excellent. It’s also helpful to have a low debt-to-income (DTI) ratio, which is calculated by dividing your monthly debt payments by your monthly gross income.
If you’re not sure what your DTI is, use our online calculator to find out.
How to apply for a PNC personal loan
You can apply by visiting a branch, calling PNC at 1-877-225-5762, or visiting PNC’s website (unsecured loans only).
If you choose to apply for an unsecured loan online, start on PNC’s personal loans page. There, you can view the full range of interest rates by zip code and start the application process.
Here’s a checklist of what you’ll need:
Once you submit your application, PNC might ask for verification of your employment and income information. You usually can do this by sending a pay stub or W-2 form — or bank statements if you’re self-employed.
How to contact PNC
If you have any questions about PNC personal loans, you can call the loan department at 1-877-225-5762. Alternatively, you can visit a local PNC branch and speak with a loan officer.
Should you apply for a PNC personal loan?
PNC offers competitive rates and fees on its personal loans, but it’s just one of hundreds of lenders from which you can choose.
One big drawback to PNC personal loans is the fact that there’s no way to get pre-qualified. Other personal loan companies such as SoFi and Earnest allow you to get a preliminary offer based on a soft credit check.
Before you apply with PNC, compare other lenders to see what kinds of rates and terms they offer. Go through the pre-qualification process with lenders that offer it to see if you can get a better interest rate that way. With this strategy, you’ll soon have the money you need at the lowest cost.
Interested in a personal loan?Here are the top personal loan lenders of 2018!
|Lender||APR Range||Loan Amount|
|1 Includes AutoPay discount. Important Disclosures for SoFi.
2 Includes AutoPay discount. Important Disclosures for Payoff.
3 Important Disclosures for FreedomPlus.
4 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
5 Important Disclosures for LendingPoint.
6 Important Disclosures for LendingClub.
All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.16% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months or longer.
7 Important Disclosures for Earnest.
8 Important Disclosures for Avant.
* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.
** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33
* Important Disclosures for Upgrade Bank.
Upgrade Bank Disclosures
** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.
|7.73% – 29.99%||$1,000 - $50,000||Visit Upstart|
|5.81% – 15.37%1||$5,000 - $100,000||Visit SoFi|
|6.87% – 35.97%*||$1,000 - $50,000||Visit Upgrade|
|8.00% – 25.00%2||$5,000 - $35,000||Visit Payoff|
|4.99% – 29.99%3||$10,000 - $35,000||Visit FreedomPlus|
|5.99% – 18.99%4||$5,000 - $50,000||Visit Citizens|
|15.49% – 34.49%5||$2,000 - $25,000||Visit LendingPoint|
|6.16% – 35.89%6||$1,000 - $40,000||Visit LendingClub|
|5.49% – 18.24%7||$5,000 - $75,000||Visit Earnest|
|9.95% – 35.99%8||$2,000 - $35,000||Visit Avant|