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Personal Loans

Citibank Personal Loan Review

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Disclosure : By clicking “See Offers” you’ll be directed to our parent company, LendingTree. You may or may not be matched with the specific lender you clicked on, but up to five different lenders based on your creditworthiness.

Citi
APR

7.99%
To
17.99%

Credit Req.

Not specified

Minimum Credit Score

Terms

12 to 60

months

Origination Fee

Not specified

APPLY NOW Secured

on Citi’s secure website

Citibank personal loan details
 

Fees and penalties

  • Term lengths: 12 to 60 months
  • APR range: 7.99%-17.99%
  • Loan amounts: $2,000-$50,000
  • Time to funding: Checks are sent within five business days of approval.
  • Credit check: Hard Pull
  • Origination fee: Not specified
  • Prepayment fee: No
  • Late payment fee: Not specified
  • Other fees: Not specified

Citibank product details

Perks offered to Citibank personal loan customers aren’t largely advertised online. However, linking a personal loan account to an eligible checking account enrolled in Citi ThankYou Rewards can help earn points on a monthly basis. Points never expire and can be redeemed for gift cards, travel rewards, cash and more. This can allow customers to save money while repaying their loan.

Eligibility requirements

  • Minimum credit score: Not specified
  • Minimum credit history: While a minimum credit score isn’t listed, Citibank does specify that the lowest quoted personal loan rate requires the borrower to have excellent credit.
  • Maximum debt-to-income ratio: Not specified

Citibank personal loans are only available to borrowers with a maximum of one existing personal loan account with the financial institution. If consumers have another Citibank personal loan account, it cannot have been opened within the past six months. Qualified applicants are also required to have a minimum annual income of $10,500.

It’s also worth noting that anyone who wants to apply for a personal loan online must either be a current Citi checking or savings account customer registered for Citibank online or have received a Citi Personal Loan offer with an invitation number. Without an invitation, current customers who don’t have online account and non-customers must apply in person at a Citibank branch or call a

Applying for a personal loan from Citibank

Personal loans are available in increments from $2,000 to $50,000, but applications cannot be submitted online for amounts exceeding $30,000. Applicants who wish to borrow up to $50,000 must call 1-877-362-9100 or visit a Citibank branch location.

Depending on the requested loan amount, prospective borrowers with a current Citi checking or savings account who are registered for Citibank online and anyone who has received a Citi Personal Loan offer with an invitation number can submit a personal loan application online. Everyone else must apply in person at a Citi branch or call 1-877-362-9100.

To begin the online application process, current Citibank customers registered for online access will need to enter their user ID and password. Non-Citibank customers who have received a Citi Personal Loan offer with an invitation number will be directed to an application site and asked to enter the invitation code, their last name and zip code. Do note, credit scores are not impacted for viewing the personal loan offer. Upon approval, a check for the full amount of the loan will be mailed within five business days.

Pros and cons of a Citibank personal loan

Pros:

Cons:

  • Fixed rate: Citibank personal loans come at a fixed rate, allowing borrowers to enjoy fixed monthly payments. Do note, defaulting on the loan may come at the cost of a 2% APR increase.
  • No hidden fees or prepayment penalties: Borrowers don’t have to worry about being hit with added costs attached to the loan.
  • Competitive rates: Fixed rates range from 7.99% APR to 17.99% APR.
  • Flexible terms: Borrowers can choose from a variety of repayment terms, consisting of 12 to 60 months.
  • Fast cash: Checks for the full amount of the approved loan are mailed within five business days.
  • Limited online application access: To apply online, prospective borrowers must either be a current Citi checking or savings account customer registered for Citibank online or have received a Citi Personal Loan offer with an invitation number. Without an invitation, current customers who don’t have an online account and non-customers must apply in person or by phone.
  • Loan amount constraints: To receive the lowest quoted rate, borrowers must use Citibank Auto Deduct to repay the loan, have excellent credit, borrow at least $10,000, have a loan term of 36 months or less and sufficient relationship balances.

Who’s the best fit for a Citibank personal loan?

A Citibank personal loan can be a great option for consumers with a one-time need to borrow money. Specifically, Citibank customers willing to repay their loan with Citi Auto Deduct, who have excellent credit, need to borrow at least $10,000, can repay the loan within 36 months and have sufficient relationship balances are eligible for the most competitive rates.

Loan amounts range up to $50,000, so this product can also be a good fit for consumers who need a higher loan amount. The ability to lock in a fixed rate and face no hidden fees or prepayment penalties can make it good choice for those looking for peace of mind in a fixed monthly payment.

Alternative personal loan options

LightStream

APR

3.99%
To
16.99%

Credit Req.

660

Minimum Credit Score

Terms

24 to 144

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

LightStream is the online lending division of SunTrust Bank.... Read More


Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 3.99% APR with a term of 3 years would result in 36 monthly payments of $295.20.


LightStream, a division of SunTrust Bank, offers personal loans from $5,000 to $100,000. Rates are fixed and vary by loan purpose. There are no fees attached to the loan, including prepayment penalties, making it a good choice for consumers who might want to pay the loan off early. Loans can be funded as quickly as one day of approval, so this isn’t the best option for anyone who needs cash fast.

PenFed Credit Union

PenFed Credit Union
APR

Starting at 6.49%

Credit Req.

700

Minimum Credit Score

Terms

36 to 60

months

Origination Fee

No origination fee

APPLY NOW Secured

on PenFed Credit Union’s secure website

Pentagon Federal Credit Union (PenFed) offers personal loans with terms up to five years and maximum loan amounts of $25,000.... Read More


PenFed grants personal loans from $500 to $25,000. Along with no origination fee, there’s also no other hidden costs, making it a great choice for borrowers looking to avoid additional expenses. Funds are available immediately, which is advantageous for consumers who need cash now. Do note, personal loans are only available to PenFed members.

SoFi

SoFi
APR

6.79%
To
16.24%

Credit Req.

680

Minimum Credit Score

Terms

12 to 84

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

SoFi offers some of the best rates and terms on the market. ... Read More


Fixed rates from 6.79% APR to 16.24% APR (with AutoPay). Variable rates from 6.54% APR to 14.95% APR (with AutoPay). SoFi rate ranges are current as of January 18, 2019 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.54% APR assumes current 1-month LIBOR rate of 2.51% plus 4.28% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.

See Consumer Licenses.

SoFi Personal Loans are not available to residents of MS. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)


SoFi provides personal loans ranging in value from $5,000 to $50,000, making it a good choice for borrowers who need a significant amount of money. Rates are fixed and loans are completely free of fees. Funds are typically deposited in consumers’ accounts a few days after approval and the successful completion of required paperwork. An added bonus, SoFi’s unemployment protection benefit offers an additional layer of security by allowing borrowers to temporarily pause payments and helping them find a new job if they become unemployed.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Laura Woods
Laura Woods |

Laura Woods is a writer at MagnifyMoney. You can email Laura here

TAGS:

Get A Pre-Approved Personal Loan

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

Where You Can Get a Personal Loan as a Non-U.S. Citizen

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

If you’re a non-U.S. citizen who is temporarily living in the United States to work or go to school, you may need a personal loan to help pay for a variety of expenses such as rent, groceries, utilities and transportation.

Here’s how you may be able to secure a personal loan as a non-U.S. citizen.

Can you get a personal loan as a non-U.S. citizen?

Some lenders are open to giving personal loans to non-U.S. citizens. If you are interested in obtaining a personal loan as a non-U.S. citizen, understand that lenders will look at your credit history and credit score to determine whether you’ll be a dependable borrower.

You can go to your bank or AnnualCreditReport.com to find out your credit history and credit score. If you don’t have a credit history or your credit score is low, get into the habit of making regular, timely payments on your bills and credit cards. This will show lenders that you’re responsible with credit and increase your chances of securing a personal loan.

In addition to looking at your credit history and credit score, a lender will ask you to provide them with certain documents. You may have to show them:

  • Green card, visa, driver’s license, Social Security card or another form of ID
  • Proof of your address
  • Proof of income

Sharing the highest level of education you’ve obtained may also be required. You may also have to undergo the employment verification process.

In the event a lender is hesitant to offer you a loan, you may need a co-signer who agrees to pay back your loan if you are unable to. Finding a co-signer who is a U.S. citizen with good credit may increase your chances of getting approved.

2 lenders offering personal loans to non-U.S. citizens

Let’s take a closer look at two lenders that may be open to giving you a personal loan as a non-U.S. citizen.

LendingClub

LendingClub is dedicated to making borrowing easy for everyone. It lends to borrowers who are living in the U.S. on a valid, long-term visa, are at least 18 years old and hold a verifiable bank account.

With LendingClub, you can expect APR rates that range from 6.95% to 35.89% and no prepayment penalties. Note that if you borrow from LendingClub, you’ll be required to pay a one-time origination fee of 1.00% - 6.00% when you receive your loan.

APR

6.95%
To
35.89%

Credit Req.

600

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates and approvals for people with credit scores as low as 600.... Read More

SoFi

SoFi offers a variety of products for borrowing, spending, saving and investing. If you are a non-resident holding a J-1, H-1B, E-2, O-1 or TN visa with at least two years remaining, you may get approved for a personal loan by SoFi.

You must live in a state where SoFi is authorized to lend, be at least the age of majority in your state and have a job, have sufficient income from other sources or have a job offer that will have you working within the next 90 days. APRs from SoFi range from 6.79% APR to 16.24% and loan terms are from 12 to 84 months.

SoFi
APR

6.79%
To
16.24%

Credit Req.

680

Minimum Credit Score

Terms

12 to 84

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

SoFi offers some of the best rates and terms on the market. ... Read More


Fixed rates from 6.79% APR to 16.24% APR (with AutoPay). Variable rates from 6.54% APR to 14.95% APR (with AutoPay). SoFi rate ranges are current as of January 18, 2019 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.54% APR assumes current 1-month LIBOR rate of 2.51% plus 4.28% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.

See Consumer Licenses.

SoFi Personal Loans are not available to residents of MS. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

How to shop for a personal loan as a non-U.S. citizen

If you’re a non-U.S. citizen seeking a personal loan, it is in your best interest to shop around. Compare the lenders listed above as well as others that may be willing to lend personal loans to non-U.S. citizens. Look at the APRs, loan terms and requirements of each lender so that you can make an informed decision.

In addition to comparing all of the lenders who lend to non-U.S. citizens, it’s a good idea to use a personal loan calculator so that you can figure out how much interest you’ll pay on a loan and can budget for it accordingly.

The bottom line

While it may take some time and effort to find the ideal personal loan as a non-U.S. citizen, it’s certainly not impossible. By doing your due diligence, shopping around and comparing lenders, you are likely to find the right personal loan for your situation. Check out our ultimate guide to personal loans to learn more about personal loans and how they work.

This article contains links to LendingTree, our parent company.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Anna Baluch
Anna Baluch |

Anna Baluch is a writer at MagnifyMoney. You can email Anna here

TAGS:

Get A Pre-Approved Personal Loan

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

Best Personal Loans from a Bank

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Disclosure : By clicking “See Offers” you’ll be directed to our parent company, LendingTree. You may or may not be matched with the specific lender you clicked on, but up to five different lenders based on your creditworthiness.

how a personal loan works
iStock

If you’re making a major purchase, want to consolidate high-interest credit card debt at a lower interest rate with one monthly payment, or need cash due to an unplanned expense, a personal loan could be the solution.

Personal loans are typically available from banks and other lenders for people with good credit and above. Most lenders will evaluate your debt-to-income ratio, your credit score, and possibly even the assets you hold with their bank when they qualify you for a loan.

MagnifyMoney has researched the top personal loan products from banks to bring you a list of personal loan options to meet your needs for extra cash.

LendingTree

LendingTree could connect you with lenders, allowing you to compare up to five personal loan offers from lenders within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score.

You can use LendingTree’s personal loan tool to see if you qualify for a personal loan.

LendingTree
APR

5.99%
To
35.99%

Credit Req.

Minimum 500 FICO

Minimum Credit Score

Terms

24 to 60

months

Origination Fee

Varies

SEE OFFERS Secured

on LendingTree’s secure website

LendingTree is our parent company

LendingTree is our parent company. LendingTree is unique in that you may be able to compare up to five personal loan offers within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score. LendingTree is not a lender.

PNC Bank

As the fifth largest bank in the U.S., PNC Bank has 2,600 branches in 19 states, mostly concentrated in the northeast where the bank is headquartered. Like most banks, PNC offers checking and savings accounts, credit cards and a variety of loan products, including personal loans up to $35,000.

PNC Bank
APR

4.99%
To
19.99%

Credit Req.

0

Minimum Credit Score

Terms

6 to 60

months

Origination Fee

No origination fees

APPLY NOW Secured

on PNC Bank’s secure website

The fine print

PNC Bank personal loans are available for borrowers with very good to excellent credit and an established credit history. PNC Bank does not reveal the credit score required to borrow, but is looking for borrowers with a good debt-to-income ratio. Being a customer of the bank does not increase your chances of qualifying for the loan.

You can borrow between $1,000 and $35,000, with terms available from 6 to 60 months. There is no origination fees and no prepayment penalties. PNC Bank does not publish its interest rates, as they vary based on the amount borrowed, the loan terms, and even the region where the borrower lives.

For instance, in Long Island, NY, rates may start as low as 4.99% and go up to 11.49% fixed rate. PNC Bank customers who set up automatic payments from their PNC checking account can save 0.25% off the interest rate.

Pros

  • Apply easily online, by phone or at a branch
  • No prepayment penalties or loan origination fees
  • Flexible terms
  • Save money with autopay options

Cons

  • Available only to people with very good, established credit
  • Hard Pull required to see if you qualify, which can lower your credit score
  • Fixed interest rates may be higher than variable rates available from other lenders

If you are looking for a loan from a reputable, longstanding bank, PNC may fit the bill. With flexible loan terms and no origination fees or prepayment penalties, PNC Bank personal loans can provide you with the cash you need for a wedding, a vacation, home repairs or emergency expenses.

Citizens Bank

With more than 1,100 branches on the East Coast and in the Midwest, Citizens Bank has become one of the largest banks in the U.S. Citizens Bank offers all the usual products, including checking and savings account, CDs, and, of course, personal loans.

Unlike many lenders, Citizens Bank lets you see your interest rates in just two minutes, with only a soft pull, which does not affect your credit score. You can also use the personal loan calculator to determine your payments. Once you’re approved and close on your loan, you can have funds deposited in your account in as little as two business days.

Citizens Bank (RI)
APR

6.78%
To
20.89%

Credit Req.

No specified

Minimum Credit Score

Terms

36 to 84

months

Origination Fee

No fees

SEE OFFERS Secured

on LendingTree’s secure website

The fine print

Citizens Bank looks for borrowers with a strong credit history and an annual salary of at least $24,000. The bank does not specify the credit score or debt-to-income ratio required, but you can get pre-qualified and check your interest rates online with just a soft pull before you apply for the loan.

Loans are available in amounts of $5,000 to $50,000, with repayment terms of 36 to 84 months. Citizens Bank does not publish its interest rates, but you can view rates and repayment examples based on current interest rates online in an interactive chart.

Citizens Bank customers may save 0.25% off their interest rate. Borrowers can also save another 0.25% by signing up for automatic payments.

Pros

  • No fees
  • Soft Pull lets you check rates and see if you qualify
  • Flexible terms
  • Apply online
  • Save money as a Citizens Bank customer

Cons

  • Funds may be deposited within two business days, which is slower than some other lenders
  • Strong credit history required
  • Fixed rate APR may be higher than variable rate loans

Citizens Bank is a relatively new bank with a solid reputation. You can check your interest rates for a personal loan online with only a soft pull, which is a benefit if you are shopping around for the best loan terms.

Wells Fargo

As one of the largest banks in the U.S., you’d expect Wells Fargo to have a flexible terms and a streamlined process to apply for personal loans. And the bank does. Wells Fargo also offers a relationship rate discount for qualified customers if you set up autopay.

Although its personal loan interest rates may not be as low as some online lenders, and its lending requirements are more stringent, Wells Fargo customers may want to consider the bank for a personal loan to consolidate debt or make a large purchase.

Wells Fargo Bank
APR

6.99%
To
23.99%

Credit Req.

Varies

Minimum Credit Score

Terms

12 to 60

months

Origination Fee

No origination fees

APPLY NOW Secured

on Wells Fargo Bank’s secure website

The fine print

Wells Fargo offers personal loans from $3,000 to $100,000 with terms from 12 to 60 months and no prepayment penalties. Fixed APRs begin at 6.99% with the 0.25% relationship discount for Wells Fargo customers. Wells Fargo does not specify the credit score required to qualify for a loan.

Pros

  • No origination fees or prepayment penalty
  • May receive funding as soon as next business day after approval
  • Wells Fargo customers can save 0.25% off their interest rate if they set up automatic payments from their Wells Fargo checking account
  • Competitive fixed rates

Cons

  • No prequalification, so a hard pull will be required to apply
  • Your credit score and debt-to-income ratio will be considered to qualify, but Wells Fargo does not list minimums required

If you are a Wells Fargo customer with excellent credit, a Wells Fargo personal loan could help you pay off existing, high-interest credit card debt, pay for a major purchase or cover unexpected expenses. If you are planning to apply for a Wells Fargo loan, you may want to open a checking account with the bank and use it for a few months to establish a relationship with the bank, which can improve your loan approval odds.

TD Bank

Founded in 1850, TD Bank. With 1,200 branches concentrated on the East Coast, many with extended business hours in the evening and on weekends, TD Bank makes getting a loan in person or online easy and convenient.

If you don’t live near a TD Bank branch, you can apply for a personal loan online and have the money deposited in your account within a few business days.

TD Bank Express Loan
APR

6.99%
To
18.99%

Credit Req.

660

Minimum Credit Score

Terms

12 to 60

months

Origination Fee

No origination fee

APPLY NOW Secured

on TD Bank Express Loan’s secure website

The fine print

TD Bank offers two unsecured personal loans. TD Express allows you to borrow between $2,000 and $25,000, and may offer faster approvals. TD Bank’s regular unsecured loan allows you to borrow up to $50,000. Both loans have terms from 12 to 60 months and fixed APRs ranging from 6.99% to 18.99%. Both loans have a minimum credit score requirement of 660. TD Bank customers can save 0.25% off the interest rate by establishing automatic payments from a TD Bank checking account.

Pros

  • No origination fee or application fees
  • No prepayment penalties
  • Easy online approval process
  • Flexible loan terms
  • Additional savings for TD Bank customers

Cons

  • Late fee of 5% of minimum payment due or $10, whichever is less
  • Must have a credit score of 660 to qualify
  • Loan application requires a hard pull

If you have excellent credit and are a TD Bank customer looking to keep your accounts within the same bank and enjoy a discounted interest rate on a personal loan, consider TD Bank.

TD Bank’s rates are comparable to other lenders. Combined with the bank’s reputation for customer service, extended business hours and easy online banking, these factors make TD Bank a good choice.

Citibank

Citibank, known as “the world’s most global bank,” does business in 98 markets worldwide. Founded as the City Bank of New York in 1812, today the company is well known for its credit cards and consumer banking products, including personal loans.

You can only apply online if you are a current Citibank checking or savings account holder or if you’ve received a special invitation. Online loan applications are limited to $30,000 or less. Citibank also offers several other perks to current Citibank customers who want to take out a personal loan to consolidate debt, pay for unexpected expenses, or make a large purchase.

Citi
APR

7.99%
To
17.99%

Credit Req.

Not specified

Minimum Credit Score

Terms

12 to 60

months

Origination Fee

Not specified

APPLY NOW Secured

on Citi’s secure website

The fine print

Citibank personal loans offer flexible terms from 12 to 60 months. Borrowers can take out a loan for as little as $2,000 up to $50,000, with fixed rate APRs from 7.99% to 17.99% for a $10,000 loan.

Citibank personal loans are only available to Citibank customers with a Citibank checking, savings, money market or CD account with a month-end balance averaging greater than $0 for the past three months. Borrowers must have an annual income of at least $10,500. Citibank does not specify other minimum qualifications, but most banks will only provide personal loans to borrowers with good credit. A hard pull is required to see if you qualify.

Pros

  • Competitive, fixed APR
  • Easy online applications for loans under $30,000
  • When you link your loan to a Citibank checking account, you earn ThankYou® rewards points, which you can redeem for gift cards, travel or merchandise
  • Save 0.25% on your interest rate when you’re a Citigold or Citi®, Priority customer
  • No prepayment penalties

Cons

  • Personal loans are only available to Citibank customers
  • Hard Pull required to apply
  • Receive your money in five business days, longer than many other lenders

Citibank does not have the fastest loan process or the most flexible qualifications. But if you are a Citibank customer, it can be easy and convenient to get access to extra cash with a Citibank personal loan.

ThankYou® Rewards are a key differentiator with a Citibank loan, because most personal loans do not offer rewards. You may be able to consolidate high-interest debt with a Citibank loan and still earn rewards.

Institutions had to be in DepositAccounts’ list of largest banks by assets to be considered. (Disclosure: DepositAccounts, like MagnifyMoney, is owned by LendingTree.) APR, terms, origination fee and other factors were considered.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Dawn Allcot
Dawn Allcot |

Dawn Allcot is a writer at MagnifyMoney. You can email Dawn here

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