MoneyGeek’s Take: PNC Bank Personal Loan Review

While PNC Bank's personal loan rates vary across locations, it generally offers loans up to $35,000 with fixed interest rates, no origination fees and no prepayment penalty. Consumers who have an account with PNC Bank enjoy additional perks, such as faster funding and autopayment discounts.

PNC Bank personal loan is perfect for individuals who have a fair credit score and need to borrow a moderate amount to fund almost any type of expense or require a small loan for an emergency situation. PNC Bank does not charge an application or origination fees to borrowers applying for a personal loan. Furthermore, unlike some lenders, PNC Bank allows you to pay off your loan early without incurring a cost.

It's also a good option if you already have a PNC Bank account because setting up automatic payments will save you 0.25% on your loan’s APR. PNC Bank also allows co-applicants on personal installment loans, which is uncommon among traditional banks.

Because PNC Bank personal loans only go up to $35,000, borrowers needing a higher maximum loan limit may find this amount insufficient. This lender also charges a late fee as well that can go as high as $40, which is quite expensive compared to other personal loan lending services.

It is important to keep in mind that rates vary by location. This includes the maximum loan amount, APR, late fees and more. Additionally, the availability of pre-qualification is dependent on where you are located. This makes it harder to find information about the bank’s personal loan offerings that fit your needs and match your profile.

We've outlined the key stages to ensure you don't get lost in the process of applying for a personal loan with PNC Bank. You'll need to fill out an application form, sign agreements, get funding and check if you qualify.

Don't panic if your personal loan application gets turned down. There are plenty of alternative lenders from which you can choose. Your application can get rejected because you don’t fulfill specific standards or qualifications. Low credit scores, missing documentation, insufficient income, a lack of credit history and other factors might lead lenders to reject applications.

The best course of action is first to ask your lender why your application was denied. You may be able to make an adjustment to your application, such as a lower loan amount or different payment terms, to make it more acceptable to the lender. If not, you might be able to improve any unsatisfactory factors over time if you work on them. Then, you can try to apply for a personal loan with a different lender.

We answered some frequently asked questions in our PNC Bank personal loan review to assist customers on their personal loan journey. While this company has its advantages and disadvantages, you should consider if it is the ideal lender for you based on your needs and financial obligations.