PNC Bank offers unsecured offers personal loans which can be used for almost any purpose.

Although the bank lends in all 50 states, loan details vary by zip code. For example, the ability to pre-qualified, which lets you check potential loan terms without impacting your credit score, isn’t available everywhere. Maximum loan amounts also vary by location.

You don’t have to be a PNC customer to apply, but existing customers get the most benefits, including discounted pricing for setting up automatic payment from a PNC account and a process fully online application.

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PNC personal loans at a glance

Late fee: $40 or 10% of payment (whichever is greater).

Funding delay after approval

Same-day funding for existing online banking customers. Other borrowers must close in branch and funding can take 3-10 days.

Loans available in 50 states and Washington, DC

Where PNC Personal Loans Stand Out

Automatic payment discount: Borrowers who set up automatic payments from a PNC checking account can qualify for a 0.25 percentage point rate reduction, meaning you’ll pay less interest on the loan.

Solidarity loans: The lender allows co-borrowers, so you can add another person to your loan application. Adding someone with a higher credit score than yours could increase your chances of getting a loan approval or getting a lower rate.

Direct payment to creditors: If you want to use a PNC personal loan to consolidate your debts, the bank will send the loan funds directly to the creditors instead of depositing them in your account. Although this is not a requirement for a debt consolidation loanthis is a nice advantage that saves you from having to send the funds yourself.

Flexible repayment terms: PNC borrowers can choose from a variety of repayment terms ranging from six months to five years. A longer term can mean more affordable monthly payments, while a shorter term means you’ll pay less interest on the loan. It’s usually best to choose the shortest term that you can still afford the monthly payments.

Where PNC personal loans fall short

Product varies by location: The rates and loan amounts available vary by state. Enter your zip code on the lender’s website to find out what’s available in your area.

Funding for non-customers: Current online banking customers can receive funds in their account the same day they sign the loan documents. However, non-customer applicants must visit a branch to arrange the loan, and the funding time can vary from three to 10 days, so this is not a good option if you are not a customer and that you need money fast.

No large loan amounts: PNC has you covered if you want a small or medium sized personal loan. But if you’re looking to cover a particularly large purchase or finance an expensive project like a major home repair, you’ll have to look elsewhere.

How to qualify for a PNC personal loan

PNC does not publicly disclose many of its requirements to borrowers, including its minimum credit rating. Borrowers with a good or excellent credit score (690 or higher) will likely qualify for the lower rates.

To apply for a PNC personal loan, you must:

  • Be at least 18 years old.

  • Provide your date of birth and social security number.

If you are applying for a debt consolidation loan, you will also need to provide the names of your creditors, current balances and monthly payment amounts.

Before applying

  • Calculate your monthly payments. Use a personal loan calculator to determine the APR and repayment term you would need to get a loan with affordable monthly payments.

  • Make a plan to repay the loan. Review your budget to see the impact of the monthly loan payments on your cash flow. If you need to cut other expenses to repay the loan, it’s best to find out before you borrow.

  • Gather your documents. PNC requires proof of income, which can be a W-2 or a pay stub, as well as photo identification, such as a driver’s license or passport. Having these documents at hand can speed up the application process.

How to Apply for a PNC Personal Loan

Here are the steps to apply for a PNC loan.

  1. Pre-qualified on the PNC website, if possible. Depending on your postal code, you may be able to pre-qualify online. You will be asked to log in to your PNC account and complete a short application, including how much you want to borrow and what the funds are used for. You can then preview potential loan offers. There is no hard credit at this point.

  2. Apply formally. After reviewing your loan options, or if pre-qualification is not available in your area, you can submit a formal request personal loan application. This might require more documents, like W-2s, payslips, and bank statements. PNC will also perform a credit check upon your application, so your credit score may temporarily drop.

  3. Make a plan to repay the loan. PNC reports repayments to the three major credit bureaus, so on-time payments will help build your credit score, but missed payments will hurt it. Setting up automatic payments and keeping tabs on your budget are two ways to manage your loan repayments.

Compare PNC to other lenders

Personal lenders offer different rates, loan amounts, and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR.

Best Egg and Marcus offer similar features to PNC and accept borrowers with fair to good credit.

PNC vs best egg

Best Egg’s personal loans come with larger loan amounts than PNC’s, but they charge an origination fee. If you choose to pre-qualify with Best Egg, keep an eye on the APR, which includes interest and any fees, and compare it to other lenders.

PNC vs. Marcus

Like PNC, Marcus offers a rate reduction for setting up autopay and sends funds directly to creditors if you’re consolidating debt. Borrowers can also pre-qualify with Marcus, but it does not offer a joint loan option like PNC does.

How We Rate PNC Personal Loans

NerdWallet editors rate lenders against a rubric that changes every year as personal loan products evolve. Here is what we have prioritized this year:

Affordability

An affordable loan has low rates and fees compared to other similar loans and may offer rate reductions.
Transparency

A transparent lender makes loan information easy to find on its website, including loan rates, terms and amounts. Transparency also means allowing users to pre-qualify online to preview potential loan offers and report payment information to major credit bureaus.
Loan flexibility

A flexible loan is a loan that allows users to customize terms and payments. This means offering a wide range of repayment term options, allowing the borrower to change their payment date, offering loans in most states, and funding quickly.
Client experience

A good customer experience can include a fully online application process, financial education on the lender’s website, and a customer service team available most of the time and reachable in multiple ways.

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