If you are in search of a new loan to buy or remodel your home, finance a car, refinance existing loans, or pay for college expenses, PNC Bank offers competitive interest rates and a range of loan terms that can help you meet your financial goals.
PNC is currently the 6th largest bank in the United States by deposits, as well as by total assets, and the 5th largest in terms of branch locations. PNC Bank NA. is based in Pittsburgh, Pennsylvania, and it is the principal subsidiary of the PNC Financial Services Group.
Besides a number of personal banking, small business banking, and corporate banking products and services, PNC(Pittsburgh National Corporation) offers a variety of personal financing options, including personal loan, personal line of credit, mortgage loan, installment loan, auto loans, home equity, education loans, and credit cards.
How to apply a personal loan at PNC?
One can also visit a local PNC Bank branch or call 888-370-7344 for more information on personal financial solution.
It is important for the borrowers to understand the various aspects of personal lending before making an application.
For instance, your monthly income and your credit score might play some role in determining your loan amount and the interest rates on your loan term.
In addition, a financial adviser will be the best person to assist you while making the right choice of loan terms.
Types of Personal Loans
As a leading lender of personal finances, PNC Bank provides a range of products including three types of personal loans, which are as follows:
Unsecured Personal Installment Loan
With installment Loans, you can obtain a lump sum at one time, which you can pay back through regular monthly payments. Such loans are useful for purposes like debt consolidation, making small purchases and home improvements.
You can borrow a maximum amount of $25,000 under PNC unsecured loans. The minimum can be no less than $1,000 and there would be no collateral required.
With fixed rate of interest, you will find it easy to pay a fixed amount every month. There is also no prepayment penalty, so you can pay in full anytime during the term of the loan and become free from the debt burden.
In case, you can’t find suitable collateral and you also don’t have a good credit, then you can seek the help of a cosigner to apply for an unsecured personal loan.
Secured Personal Installment Loan
The best thing about PNC secured personal installment loans is that you can borrow up to $100,000, which you need sometimes to make a big purchase, such as a boat or RV.
You can even buy a low-cost home with a personal loan.
Another advantage could be a lower interest rate than the unsecured loan option. The minimum loan amount is set at $2,000.
People with bad credit or with less than perfect credit score may find it easy to apply for a secured personal loan option at PNC.
Under collateral requirements, you need something of value, but it should not be your home or any other real estate.
Personal Line of Credit
A credit card user will find PNC Personal Line of Credit more affordable and quite easy to maintain. Like a credit card, you are offered a revolving credit, which you can freely withdraw and pay back to make the credit available again.
You can either write a check or transfer money to a checking account to use the money under an available line of credit.
At PNC Bank, you are offered a minimum line of $1,000, which can go up to $25,000 depending upon your qualifications for the credit line. Each time you withdraw, the amount must be at least $50.
Like other kinds of loans, the credit line also has no prepayment penalty. The rate of interest is applicable only on the amount you withdraw, and is based on Wall Street Journal Prime Rate.
There is no collateral required for a personal line of credit at PNC.