PNC Personal Loans Review

PNC is an online lending platform offering personal loans for various uses

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PNC Bank logo
Investopedia’s Rating
3.7

Current PNC customers that qualify for an autopay discount may benefit from the bank’s personal loan offerings. However, loan rates vary by location, and PNC doesn’t offer pre-qualification for borrowers interested in comparing loan options.

Top Rated For

  • Pros & Cons
  • specifications
Pros & Cons
Pros
  • Permits co-applicants

  • Offers current banking customers an auto-pay discount

  • Offers personal and investment lines of credit as well

Cons
  • Rates vary by location

  • Website does not state eligibility requirements

  • Does not disclose loan funding speeds

specifications
APR Range
7.19% - 28.74%
Loan Amount
$1,000 - $35,000
Loan Terms
6 Months or 60 Months
Recommended Minimum Credit Score
N/A
Average Origination Fee
0.00% - 0.00%
Late Fee
10.00% - 10.00%
Why Trust Us
38
Lenders reviewed
40
Loan features considered
1,520
Data points analyzed
112
Primary data sources used
Investopedia collected key data points from several lenders to identify the most important factors to borrowers. We used this data to review each lender for fees, accessibility, repayment terms, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right borrowing decision for their needs.

Pros Explained

  • Permits co-applicants: PNC lets prospective borrowers apply with a co-applicant. By choosing a co-applicant with a strong credit profile, applicants may qualify for better rates and loan terms than they would on their own. 
  • Offers current banking customers an auto-pay discount: Borrowers who sign up for automatic payments from their existing PNC checking account get a 0.25% rate discount. This autopay discount is only available when payments are made from an eligible PNC account. 
  • Offers personal and investment lines of credit as well: If the personal loan doesn't work for you, you can check out PNC's personal and investment lines of credit.

Cons Explained

  • Rates vary by location: PNC personal loans come with APRs as low as 7.19% and as high as 28.74%, but rates vary by location. Prospective borrowers must enter their zip code on the personal loan homepage to see the available rates in their area. 
  • Website does not state eligibility requirements: PNC doesn’t disclose its minimum credit score or income requirements to qualify for a personal loan. There is also no pre-qualification option, so you can’t review what you might be eligible for before applying. 
  • Does not disclose loan funding speeds: While many lenders disclose average funding times for personal loans, PNC does not publish this information on its website.

Introduction

PNC offers unsecured and secured personal loans, in addition to other financial services. Its loans range from $1,000 to $35,000. There are no origination fees, and borrowers who wish to pay off their loan balance early aren't charged a prepayment penalty.

However, the lender does charge late payment fees. PNC personal loans come with a fixed rate APR, though available rates vary by location. 

To see the personal loan rates PNC offers in your area, visit the “Unsecured Personal Loan” page on PNC's website and enter your zip code. You can then select a repayment term and view available rates and monthly payment ranges for multiple loan amounts. Note, however, that displayed APRs include a 0.25% discount for PNC customers who opt for automatic payments through their PNC checking account.

Many lenders offer an APR discount for borrowers who set up automatic payments. Setting up autopay can be a great way to save on interest costs.

Company Overview

PNC Bank is a subsidiary of the bank holding company PNC Financial Services Group, Inc., which was founded in 1852. PNC offers everything you'd expect from a typical bank including personal loans, personal lines of credit, and investment lines of credit.

The bank has over 2,600 branches across 29 states as well as a network of about 19,000 PNC and partner ATMs. These ATMs are available in some of the states without branches as well. Personal loans are available in all 50 states. PNC completed its acquisition of BBVA in 2021, which increased the bank’s physical locations. 

Types of Personal Loans Offered by PNC

PNC personal loans are flexible and can be used for several purposes, including debt consolidation, home improvement, medical expenses, moving and relocation, events, and other large purchases. PNC personal loan funds cannot be used for postsecondary educational expenses or to refinance student loan debt. However, PNC offers student loan refinancing options through pnconcampus.com.

PNC does not disclose the minimum credit score required or maximum debt-to-income (DTI) ratio allowed to qualify for a personal loan.

Many lenders require that borrowers have at least good FICO score to be approved for a loan. A good FICO score falls within the range of 670-739.

Time to Receive Funds

PNC does not indicate how long it takes to receive personal loan funds. Competitors may offer funding in as little as one day up to a few days.

PNC Personal Loan Features

Joint Applications

PNC allows joint applications but does not allow co-signers. To apply for a personal loan with a co-applicant, check the box “Add a Co-Applicant” on the first page of the loan application form. Then proceed to the co-applicant version of the application.

In-Person Banking

Unlike exclusively online lenders, PNC has a network of over 2,600 branches across 29 states and Washington, D.C. Not only can prospective borrowers visit a branch to apply for a personal loan, but customers with a nearby PNC location can also use the bank to handle all of their banking needs.

Financial Hardship Assistance

PNC borrowers who struggle to make loan payments can contact the lender via telephone to request financial hardship assistance. Borrowers can share information regarding their financial circumstances—changes to employment or income, illness, divorce, or other unexpected life events—so PNC can find a solution that meets their unique needs and payment abilities. 

Apply for a PNC Personal Loan

Unlike many online lenders, PNC does not offer a pre-qualification option, so you’ll have to apply for a loan to see your APR. However, PNC adds a level of flexibility by allowing consumers to apply for a personal loan online, over the phone, or at a branch. 

Follow these steps to apply for a PNC personal loan online:

  1. Complete online application. Applying for a PNC personal loan requires you to enter your social security number, monthly housing payment, and total annual income, among other personal details. Current PNC customers can sign into their online account to automatically pre-fill portions of the application, but this is not required. 
  2. Provide creditor information. If you plan to consolidate debts with the PNC personal loan, provide the creditor name, current balance, and monthly payment amount.
  3. Verify your application and provide documentation. Once you apply, it may be necessary to provide additional documents to verify your identity, employment, and income. You can check the status of your application by calling a Client Loan Advisor on Monday through Friday, from 8:00 a.m. to 6:00 p.m. Eastern time, or Saturday from 9:00 a.m. to 2:00 p.m. ET.
  4. Await approval. Some applicants receive an immediate response upon submitting their loan application. However, it may take longer—though PNC does not provide details regarding approval and funding speeds. 

Can You Refinance a Personal Loan with PNC?

Borrowers cannot refinance an existing PNC personal loan with another PNC installment loan. However, the bank does extend personal loans to consolidate third-party, non-student loan debts. 

Customer Service

PNC borrowers can contact customer support via telephone, Monday through Friday, 7 a.m. to 10 p.m. ET, and Saturday and Sunday from 8 a.m. to 5 p.m. ET. Support is also available through the PNC Twitter account, but the bank does not offer an online chat tool through its website. Customers and prospective borrowers can also access PNC’s support page to get answers to frequently asked questions.  

Customer Satisfaction

PNC has mixed reviews online, but many are for other financial products, including auto loans and general banking. It receives an average of just 1.3 out of 5 stars across over 200 Trustpilot reviews.

Unsatisfied customers report high-interest rates, issues contacting customer support, and lengthy application and approval times. Happy PNC borrowers appreciate the low fees, fast application and approval processes, and helpful customer service team.  

Account Management

Borrowers can manage their personal loans through PNC’s online banking portal. You can login using their website or app. From there, you can manage and make payments, and view the loan balance, account activity, and payoff options.

How PNC Compares to Other Personal Loan Companies

Like PNC, PenFed Credit Union is a traditional financial institution that also offers personal loans. Neither of the lenders charges borrowers prepayment penalties or origination fees, and APR ranges are similar with PenFed’s rates extending from 7.74% to 17.99%. That said, the lenders also provide limited qualification information on their websites.

Despite the similarities, there are a few key differences between the lenders:

  • PNC applicants can enter their zip code to review available APR ranges since their rates vary by location. On the other hand, prospective PenFed borrowers can view their rates during pre-qualification. 
  • While PNC does not offer a pre-qualification process, PenFed lets consumers see the rate they’re likely to qualify for with just a soft credit check.
  • PenFed personal loans are available up to $50,000, while PNC borrowers are limited to $35,000 loan amounts.

Because PNC does not have a pre-qualification process, PenFed may be the best option—especially for borrowers who aren’t sure they’ll qualify for a loan and don’t want to undergo a hard credit inquiry. PenFed also provides more information about its personal loans online, and it offers more flexible loan amounts and repayment terms than PNC. 

Read our PenFed personal loans review.

Final Verdict

PNC personal loans are best for existing PNC customers who are eligible for the lender’s autopay discount. Current customers can also benefit from an automatically pre-filled application, and support from their local banking branch.

That said, PNC offers low maximum loan amounts, but does not let customers check their rates before applying for a personal loan. The bank also fails to disclose relevant approval and funding speeds, which can complicate the application process—especially for borrowers who need funds quickly. For that reason, we recommend using an online lender that offers a pre-qualification process, more information about qualification requirements, fast funding, and more flexible loan options.

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders. To rate providers, we collected over 25 data points across more than 50 lenders, including interest rates, fees, loan amounts, and repayment terms to ensure that our reviews help users make informed decisions for their borrowing needs.  

Our full personal loans methodology, including our data collection process and weighted data points, is available for review.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. PNC. "Unsecured Personal Loan."

  2. Experian. "What Is a Good Credit Score?"

  3. Trustpilot. "PNC Bank."

  4. National Credit Union Administration. "Permissible Loan Interest Rate Ceiling Extended."

  5. PenFed Credit Union. "Personal Loans."