Borrowers residing in certain East Coast states can get personal loans from TD Bank with low or no origination costs. While potential borrowers may value TD's quick financing and the opportunity to have their loan loans pre-approved, you can find lower interest rates and conditions elsewhere.

Types

There is just one personal loan option from TD Bank: TD Bank Fit Loan. TD Fit Loans do not need any collateral and offer set interest rates. You may use the money from TD Bank Fit loan for various things, like paying for trip, upgrading your house, or consolidating your existing debt. However, the proceeds from the loan cannot be sent directly to your creditors at this time. In addition, the TD Fit loan cannot be used for any costs associated with a company or school. So, what are the TD bank personal loans rates?

Time to Receive Funds

The cash from your loan will be disbursed to you quite promptly by TD Bank; you may get the monies as soon as the next business day. However, the distribution of the loan might take longer depending on the processing done by your bank. Loan monies are deposited through ACH transfer.

TD Bank Personal Loan Features

Minimal Fees

Because the personal loan offered by TD Bank has such low costs, getting a loan from this financial institution is one of the most cost-effective ways to get cash. Some lenders charge as much as 6% of the loan's total amount as an origination fee. This would result in a price of $1,200 for a loan of $20,000. TD Bank will not charge you an origination fee nor penalize you for making a prepayment; the bank will only charge you a late fee if you make your payment after the due date.

Unsecured Loans

The TD Bank Fit Loan is an unsecured loan, which means the lender does not need any security to be provided. If you stay caught up on your loan payments, you will avoid having your property repossessed because of this. Your credit score and overall financial profile will be evaluated to determine whether you qualify for an unsecured loan. This contrasts with a secured loan, in which property is used as collateral.

Convenient Online Application

A pre-approval for a personal loan from TD Bank may be obtained online in as little as one minute for prospective borrowers. A light inquiry into your credit history is required and won't impact your score. After being pre-approved, you can complete an online application for the remainder of the loan. If your application for a loan is accepted, the cash might be sent to your account within one business day.

Apply for a TD Bank Personal Loan

The following is a list of the procedures that you will need to do to apply for an online Fit Loan from TD Bank:

Get pre-approved

To be pre-approved, you must supply your Social Security number and other fundamental financial information. To go on to the next stage and see your available loan alternatives, you will need to confirm that you have read and agreed to the permission paperwork provided by TD Bank. In addition, you will need to enable a soft draw to be performed on your credit.

Verification process

Before giving you their final permission, the bank can ask for some more paperwork to go through. It might ask for a copy of your driver's license or another form of identification, as well as papers that validate your job, income, and bank account information, for instance.

Customer Satisfaction

Customer opinions of TD Bank are all over the place. The bank has been given a rating of 2.8 stars out of a possible five on ConsumerAffairs.com. Additionally, TD Bank has over 1,100 ratings on Trustpilot; however, the site has only awarded them 1.3 out of 5 stars.

Recent reviews have mentioned having a negative experience with customer support, including having to go through complicated procedures to access accounts and resolve the fraud. In addition, customers claim to wait an hour or more to talk to a representative over the phone.

Pros

TD Bank can pre-approve your loan application in as short as one minute for personal loans, and this service is offered to customers. Before going through with a full application, prospective borrowers have the option to study loan amounts and conditions without any negative effect on their credit.

Costs associated with borrowing are kept to a minimum thanks to this lender's lack of origination and prepayment fees.

Quick transfer of funds: Compared to many other financial institutions, TD Bank can send your money to you within one business day after receiving your permission.

Cons

Loans are only offered in 15 states and the District of Columbia; therefore, residents of the majority of states will need to go elsewhere.

The minimum amount of credit a borrower must have to qualify for a loan is a criteria that is only sometimes made public by lenders. The information in question is kept private by TD Bank.