TD Bank is a major financial institution that maintains thousands of locations in the United States. The bank is headquartered in Toronto, Canada. TD Bank offers a variety of commercial and consumer related financial products, including checking and savings accounts, investment accounts, personal loans, auto loans and more.
TD Bank Personal Loans
TD Bank offers two major types of personal loans for consumers:
- The TD Express Loan- Express Loans allow consumers to borrow up to $15,000 within 48 hours. Borrowers do not need to show tax returns or pay stubs to qualify for this.
- The Personal Unsecured Loan- The Personal Unsecured Loan does not require any type of assets. Monthly and repayment terms are fixed and easy to understand.
Rates for an Express Loan vary depending on what state you live however, consumers can expect a rate around 8 percent. A lower credit score will also garner a higher interest rate.
For a standard unsecured loan, consumers can borrow up to $50,000 with an interest rate of around 8 percent. The monthly payment will vary depending on each individual’s repayment terms.
Review of TD Bank Personal Loans
Reviews of the TD Bank Personal Loan program varies depending on the individual spoken to. On average, the bank received 3 out of 5 stars, with the biggest complaint being customer service. Consumers with excellent credit scores and long term employment can expect faster account deposits of their loan payouts.
Other TD Bank complaints have to do with their customer service call center. Customers have reported extremely long hold times of an hour or more, and former employees have reported that the bank is cutting back on its work force which could compound the problem.
Who Should Apply for TD Bank Personal Loans
TD Bank Personal Loans are perfect for individuals of various credit histories. Unlike many other financial institutions that offer personal loans online only, TD Bank maintains thousands of locations across the eastern United States.
If you currently live in one of the states that has a TD Bank location and you have a favorable credit rating with sufficient income to pay the loan off, you should apply for one of their personal loans. The Express Loan may not be awarded to individuals with credit scores below an “excellent” rating.