- Loans up to $20,000
- APRs as low as 9.24%
- Funding within 3 business days
- Few complaints
- No origination fees
- No prepayment fees
- Minimum credit score not disclosed
- APR range based on zip code
PNC Personal Loans Review Summary
PNC personal loans have some of the lowest interest rates on the market, starting at 9.24%. But the rate you could be assigned depends on where you live. You must talk to a representative and provide your zip code to find out.
There’s no official minimum credit score for an unsecured PNC personal loan, but people with damaged credit can also consider a secured personal loan from PNC. It is one of the few major banks offering secured personal loans. PNC’s loans also have no origination fees or prepayment fees.
PNC only has branches in 21 states and the District of Columbia. However, people in any state can take out a loan by applying online or by phone. Below, you can learn more about PNC’s loan offers and see how they compare to personal loans from other lenders.
PNC Personal Loan Terms
|APRs||9.24% - 19.44%|
|Loan Amount||$1,000 - $20,000|
|Loan Terms||12 - 60 months|
|Minimum Credit Score||Not disclosed*|
|Minimum Income||Not disclosed|
|Loan Purpose||Debt Consolidation, Refinance, Home Improvement|
|Time to Receive Loan Money||1 - 2 business days|
PNC Personal Loan Rates, Fees & Other Terms
Category Rating: 5/5
PNC personal loan rates range from 9.24% to 19.44%. They depend on how much you want to borrow, how long you want to borrow it for and where you live. Another thing that determines your rate is whether your loan is secured or unsecured, as PNC offers both types of personal loans. You can view the lowest potential rates for your zip code for unsecured personal loans online, or find out the full range by calling PNC at 1-877-2255-762. But if you want to estimate rates for a secured loan, you’ll have to call PNC or visit a branch.
One nice feature PNC has is that they could give you a discount of 0.25%, depending on what lending product you have, if you set up automatic loan payments from a PNC checking account.
PNC does not charge an origination fee to process your loan or a fee for paying your loan off early. There is a late fee, but according to a representative, it depends on how much you borrow.
Overall, PNC scores well in this category. Though it’s a bit of a hassle to find out rates for your location, PNC’s maximum APR is a lot cheaper than what most other lenders charge. In addition, the lack of an origination fee is a big plus. PNC also scores points for offering decent-sized loans, at up to $20,000, with up to 60 months to pay them off.
PNC Personal Loan Requirements & Application Info
Category Rating: 4.5/5
PNC does not disclose their minimum credit score requirements, and third-party sources don’t have much information to offer on this, either. However, since PNC offers secured personal loans in addition to unsecured personal loans, it should be possible to get approved for a loan even with bad credit.
If you take out a secured personal loan from PNC, you will have to put up some kind of collateral. PNC will not accept real estate as collateral.
There are some additional PNC personal loan requirements. You must be at least 18 years old. PNC allows you to apply for a personal loan with an SSN, an ITIN or a passport. PNC does not disclose any minimum income requirements.
You can check your potential rates with PNC online before you apply, without hurting your credit score. If you decide to apply for a loan, you can do so online or by phone (1-877-225-5762). Under normal circumstances, you could also apply at a branch, but PNC has closed this option temporarily due to the Covid-19 pandemic.
PNC gets points for making loans available to people with bad credit and allowing use of an ITIN or passport in the application process. The fact that they have pre-qualification with a soft pull is another big positive.
PNC Personal Loan Reviews & Transparency
Category Rating: 3.3/5
- Better Business Bureau: PNC Bank has an A+ rating and has been accredited since 1978.
- Consumer Financial Protection Bureau: The CFPB has catalogued around 130 complaints about issues with PNC’s installment loans. Some reasons for complaints include having trouble with making payments and being declined when the customer expected they would be approved.
PNC has provided a “timely” response to almost all existing complaints.
- WalletHub: PNC has an average user rating of 3.6/5 across more than 1,700 reviews.
- Transparency: PNC isn’t as immediately transparent about their personal loan terms as other lenders are. They don’t give any overall APR ranges, and they make people look up rates based on their zip code. Furthermore, PNC does not disclose their late fees on either their main personal loans page or their rate calculator. PNC is not transparent about minimum credit score or income requirements, either.
PNC loses points in this category for their lackluster transparency, but they do have a decent reputation with their customers and a great score from the BBB.
Summary: PNC Personal Loans Scores by Review Category
|Rates, Fees & Other Terms||5/5|
|Requirements & Application Info||4.5/5|
|Reviews & Transparency||3.3/5|
PNC Personal Loans vs. Popular Competitors
|APRs||9.24% - 19.44%||5.99% - 24.49%||8.05% - 35.89%|
|Loan Amounts||$1,000 - $20,000||$3,000 - $100,000||$1,000 - $40,000|
|Loan Terms||12 - 60 months||12 - 60 months||36 or 60 months|
|Minimum Credit Score||Not disclosed*||Fair*||Fair*|
In order to provide the most accurate PNC personal loan review, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back. For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. For PNC, that is California.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.