Who PNC Bank Is Best For
PNC Bank personal loans are best if you:
- Need a small-amount loan. PNC offers personal loans starting at $1,000. While some lenders require that you borrow at least $2,000, PNC lets you take out a smaller amount.
- Want to apply with a co-borrower. Adding a creditworthy co-borrower can help you qualify for a better rate.
- Are already a PNC Bank customer. If you currently hold a PNC account, it might be easier to borrow from your bank than to start over with a new lender. Plus, PNC Bank offers a 0.25% interest rate discount if you set up autopay on your loan via your PNC checking account.
Who PNC Bank Isn’t Right For
PNC Bank personal loans might not be the right fit if you:
- Need a loan larger than $35,000. PNC Bank caps its personal loans at $35,000, or lower in some states. For instance, residents of California can only take out up to $10,000. Some other lenders let you borrow up to $100,000.
- Can get a better rate elsewhere. You might qualify for a lower APR from another lender, especially if you have excellent credit. It’s worth shopping around to find your best rate.
- Want to avoid late fees. PNC Bank charges 10% of your payment amount or $40, whichever is greater, if your payment is late. If you want to avoid these fees, it could be worth finding a lender that charges no late fees or a lower amount. That said, late payments could damage your credit, so try your best to avoid them either way.
- Need to pay for college or refinance student loans. PNC Bank prohibits the use of its personal loans to pay for post-secondary educational expenses or to refinance student loan debt.
PNC Bank Loan Details
Note that the following loan amounts, rates and terms may vary by location. You can check the loan details for your specific location by entering your zip code on the PNC Bank website.
Loan Amounts and Terms
- Loan amounts. PNC Bank offers personal loans between $1,000 and $35,000. Residents of some states have lower borrowing limits.
- Loan terms. You can select repayment terms between 12 and 60 months, depending on how much you borrow.
Personal Loan Costs
- APR. Rates may vary by zip code.
- Origination fee. PNC Bank does not charge origination or application fees.
- Late fees. PNC Bank charges 10% of the payment amount or $40, whichever is greater, for payments that are more than 15 days late.
- Prepayment penalty. PNC Bank does not charge prepayment fees.
Perks and Features
- Online prequalification. You can check your rates on PNC Bank’s website with a soft credit check that won’t affect your credit. If you decide to submit a full application, PNC Bank will run a hard credit inquiry, which could temporarily knock a few points off your credit score.
- Hardship assistance programs. If you’re experiencing financial hardship, PNC Bank may offer assistance programs that can help. You’ll need to apply and provide detailed information about your hardship, income and expenses.
How to Qualify for a PNC Bank Personal Loan
Personal loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as income. Meeting the requirements below won’t guarantee approval, but they can help you decide if a PNC Bank personal loan is the right fit.
Credit Score Requirements
PNC Bank does not disclose a minimum credit score requirement, but it looks for borrowers with a history of on-time payments on their loans. We recommend a score of at least 670 to increase your chances of approval.
Income Requirements
PNC Bank does not share a minimum income requirement. According to a customer service representative, it looks at the full picture of your finances to determine whether you’re a reliable candidate for a loan.
Co-signers and Co-applicants
PNC Bank allows you to apply for a personal loan with a co-applicant. It prefers that your co-applicant lives in the same household.
By applying jointly, you could qualify for an even better rate. However, your co-applicant is equally responsible for the debt and the loan repayment will impact their credit. On-time payments can help improve credit, while late payments can damage credit.
How to Apply for a PNC Bank Personal Loan
You can apply for a PNC Bank personal loan online, over the phone or in person at one of its branch locations. You can kick off the process by prequalifying on the PNC Bank website.
- Check your rates. Start by prequalifying online with no impact on your credit score. You’ll provide personal details, such as your name, address and phone number. You’ll also indicate your income, monthly housing payment and Social Security number, and create a password for your account.
- Review your offers. PNC Bank will instantly show you prequalification offers if you meet its lending criteria. You can review your options to see if any appeal to you. Note that a prequalified rate is not guaranteed—PNC Bank will need to run a hard credit inquiry before providing a final loan offer.
- Submit a full application. If you decide to move forward with the loan process, you’ll submit a full application with additional information. You’ll likely need to submit supporting documentation, such as pay stubs or bank statements, and consent to a hard credit check. According to a customer service rep, PNC Bank might ask you to submit your application at a branch in person if you live nearby.
- Wait for approval and receive your loan funds. PNC Bank will review your application and make its final decision, typically within 48 hours.
Once you receive your funds, you’ll make monthly payments on your PNC Bank personal loan for the duration of the agreed-upon term. You have a variety of options for making your payments, including online, via mobile app, over the phone, in person at a branch or through the mail. You may choose to set up automated payments that will withdraw from your bank account every month on the payment due date.
Related: Best Personal Loans Of 2024
Customer Reviews
As one of the largest banks in the U.S., PNC Bank is a legitimate source for personal loans. However, its customer reviews on TrustPilot and Better Business Bureau (BBB) skew largely negative.
PNC Bank received a rating of just 1.3 out of 5 stars on TrustPilot based on 327 reviews and 1.12 out of 5 stars on BBB based on 439 reviews. Dissatisfied customers complained about high fees, delayed processing times and long wait times for customer service.
PNC Bank received slightly more favorable reviews on Consumer Affairs and Credit Karma, with an average rating of 3.5 out of 5 stars on both sites. Some customers said they had a good experience banking with PNC.
It’s worth noting that these reviews are not specific to PNC Bank’s personal loans, but rather include the entire scope of PNC’s banking services.
How PNC Bank Personal Loans Stack Up
PNC Bank vs. SoFi
While PNC Bank limits its personal loans to $35,000, SoFi lets you borrow up to $100,000. It offers APRs starting around 8% and lets you apply with a co-applicant. If you’re looking to pay for a large project or expense, SoFi might be a preferable option to PNC Bank due to its significantly larger loan limits.
Related: SoFi Personal Loans Review
PNC Bank vs. Avant
Avant has the same borrowing limit as PNC Bank, with a maximum amount of $35,000. However, you must take out at least $2,000 with Avant, twice as much as the minimum amount with PNC. Avant’s rates also start higher (around 9%) than PNC Bank’s.
Related: Avant Personal Loans Review
PNC Bank vs. Upgrade
Like PNC Bank, Upgrade lets you borrow as little as $1,000, but it offers larger loan amounts of up to $50,000. This lender has a relatively low credit score requirement of 580 and lets you check your rates online with a soft credit check. It could be worth checking your rates with both PNC Bank and Upgrade (as well as any other lenders that let you prequalify online) to see which offers you the better rate.
Related: Upgrade Personal Loans Review
Featured Partners
1
SoFi®
650
8.99% to 29.99%
$5,000 to $100,000
2
Avant
$2,000 to $35,000
9.95% to 35.99%
580
3
Upgrade Personal Loans
580
8.49% to 35.99%
$1,000 to $50,000
4
LendingPoint Personal Loans
$2,000 to $36,500
7.99% to 35.99%
600
Methodology
We reviewed PNC Bank based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated PNC Bank based on the weighting assigned to each category:
- Loan cost: 35%
- Loan details: 20%
- Eligibility and accessibility: 20%
- Customer experience: 15%
- Application process: 10%
Within each category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at credit score requirements, whether the lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated PNC Bank’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.
