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TD Bank Personal Loan Review

Loan Amount:
$2,000 - $50,000
Minimum Credit Score:
680
APRs From:
6.99% - 18.99%
Funding Speed:
As fast as one business day

TD Bank is known for its secured and unsecured personal loans. Plus, you do not need to be their member to apply for a personal loan.

Check your pre-qualified personal loan rates online now.

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You can choose from secured and unsecured personal loans. However, if you wish for more flexibility, you can take advantage of the unsecured personal line of credit.

Unsecured Personal Loan 

If you choose the unsecured personal loan, you can borrow anywhere from $2,000 and $50,000. The repayment terms are from one to five years. The bank also offers an unsecured loan express version. This loan version allows you to borrow up to $15,000. You can get the fun in as fast as two days.

Unsecured Personal 

For a more flexible personal loan option, TD Bank offers an unsecured line of credit. This loan comes with long terms.

Secured Personal Loan 

If you need over $50,000, you can opt for a secured loan. This loan is made up of your deposit account value with one to five years repayment terms.

To give you a bigger picture of the TD personal loan terms and requirements, check out the comparison table below:

 

Type of Personal LoanLoan Range AmountAPR RangeFeesLoan TermsRepayment OptionsDirect Payment to Creditors
Unsecured Personal Loan$2,000 - $50,0006.99% - 18.99% with AutoPay  No origination fee

  No repayment penalty

  No check processing fee

  No Return Payment Fee/NSF

  Lesser  of  5% of minimum payment due or $10 late payment fee

1 to 5 yearsMonthlyNo
Unsecured Personal Line of Credit$20,000 - $50,00010.50% - 15.50% with AutoPay  $25 annual fee

  No repayment penalty

  No check processing fee

  No Returned Payment Fee/NSF

  Lesser of 5% o monthly past due or $10 late payment fee

10 years draw period followed by 10 years repayment periodMonthlyNo
Secured Personal Loan$5,000 - $50,0007.92% variable rate  $50 origination fee

  No repayment penalty

  No check processing fee

  No Returned Payment Fee/NSF

  No late payment fee

1 to 5 yearsMonthlyNo

TD Bank serves the East Coast, including Washington D.C., Maryland, Florida, Virginia, Pennsylvania, New Jersey, and New York.

TD Bank Personal Loan Application Process 

For a line of credit or personal unsecured loan, you can apply online. However, you need to visit the TD branch to sign the closing paperwork. You need to call or visit the branch if you need a secured loan.

 

Application ProcessOnline and In-Branch Visit (Line of Credit and Unsecured Loan Only, By Phone or In-Person
Time to Get Funds2+ days
Cosigners/Co-borrowersYes
Credit ReportingYes
Credit CheckHard credit check

Once you start the application process, you have to choose whether you want to apply for a loan or line of credit. You need to provide your ZIP code and choose the closest TD Bank branch to your location.

You also have to provide some information about the loan you are applying for, such as:

  • Number of co-applicants 
  • Whether you want an AutoPay enrolment
  • How much funds you need 
  • How you plan to use the funds 

Then, you need to choose a specific loan term. TD Bank will provide the monthly payment estimates to help you decide.

After you complete that application phase, you need to provide personal information, including:

  • Name 
  • Address 
  • Phone number
  • Date of birth 
  • Social Security number 
  • Employment and annual income 
  • Major monthly expenses (rent or mortgage payments and other debts)

Next is to submit the loan application for approval. Once your application is approved, the bank may require you to visit the branch to sign the closing paperwork. Beware that the funding takes a few business days.