TD Bank Personal Loans Review 2020

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TD Bank, N.A. is an American subsidiary of Canada’s international Toronto-Dominion Bank and is one of the 10 largest banks in the United States. The full-service bank has 1,200 locations across the Northeast, Mid-Atlantic, Washington, D.C., metro area, the Carolinas and Florida. TD Bank offers secured and unsecured personal loans and lines of credit to cover large and small expenses with amounts ranging from $2,000 to $50,000.

Best Features

  • Branch locations allow you to apply for loans in person if you choose.
  • TD Bank offers a 0.25% rate discount if you also have a TD Bank savings or checking account and sign up for autopay.
  • Personal loans are backed by one of the 10 largest banks in the United States.

Drawbacks

  • TD Bank’s personal loans are not available in all 50 states.
  • The TD Bank secured personal loan has a $50 origination fee.
  • Borrowers who are not members of TD Bank pay 0.25% more for rates regardless of credit score.

What Personal Loans Does TD Bank Offer?

  • TD Express personal loan.
  • Unsecured personal loan.
  • Unsecured line of credit.
  • Secured personal loan.

What Are TD Bank’s Loan Terms, Fees and Discounts?

TD Bank’s personal loans range from $2,000 to $50,000 with fixed and variable-rate options. Loans require a $50 origination fee. If you sign up for autopay from a personal TD Bank checking or savings account, you get a 0.25% discount off the rate, which allows you to possibly secure the lowest advertised rates.

How Do I Get a Personal Loan from TD Bank?

You can apply for a TD Bank personal loan online, by phone or by visiting one of its locations throughout the Northeast, Mid-Atlantic, Washington, D.C., metro area, the Carolinas and Florida. A personal loan application with TD bank takes about 15 minutes to complete. For the loan application, you’ll need your Social Security number, expenses such as mortgage, rent, vehicles and other loans, employment history and income. TD Bank will review this information along with your credit history and score. After submitting the form, you will receive a call from a lending specialist within one business day.

What Is TD Bank’s Personal Loan Approval and Disbursement Process?

There is no disclosed minimum credit score requirement for TD Bank’s personal loans, nor does the bank disclose a minimum income requirement. However, both of these are factors in the approval process. TD Bank lines of credit can be approved within 48 hours. Estimated disbursement time is not disclosed.

Is TD Bank Customer Service Good?

TD Bank has a B rating with the Better Business Bureau. TD Bank has a bad rating with Trustpilot.

The Consumer Financial Protection Bureau received 33 personal loan complaints about TD Bank in 2019. Most complaints related to getting a line of credit, payment problems, or unexpected interest or fees. The company submitted a timely response for all complaints.

TD Bank Personal Loans Are Best for:

  • Borrowers who want a fixed-rate loan that funds within 48 hours.
  • People who want the option of completing a loan application in person at a bank branch.
  • Consumers who like the assurance of getting a loan from one of the 10 largest U.S. banks.



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