PNC Personal Loan Overview
The ninth-largest bank in the U.S. by total assets, PNC Bank offers unsecured personal loans for borrowers looking to consolidate debt, fund home improvements, or cover emergency expenses.
Your approval will depend on your credit score, income, and debt-to-income ratio. According to a PNC representative, these factors are weighed evenly on applications.
While no specific credit score requirements were disclosed, borrowers who qualify will likely need good to great credit. Most of PNC's consumer loan borrowers have a FICO score of at least 650 according to PNC’s 2017 annual report.
To option to add a co-signer is offered by PNC. This will increase approval odds and help you get a lower rate. You must keep in mind, that the co-signer will also be responsible for repaying the loan if you default on your payments.
- Cost: APRs start at around 9%.
- Origination fee: None.
- Late fee: Greater of $40 or 10% of the amount due, after a 15-day grace period.
- Prepayment fee: None.
How to apply for a PNC loan
Applying is simple and can be done through PNC’s website. PNC is unique in the fact that they are a branch bank, so you'll also have the option to visit a physical branch location in person if you are more comfortable with in-person banking. Completing an application will only take around 10 minutes, some of the information you'll need to provide is one form of photo ID and your annual income.