Is a PNC Personal Loan Worth It?

(May 2024)

Is a PNC Personal Loan Worth It?

In This Article

Our Verdict

PNC offers numerous personal loan options with competitive rates for its existing customers. The lender’s repayment terms vary, depending on your location. Also, PNC personal loan products don’t allow you to pre-qualify, making it difficult to compare with other lenders or products. Yet, the bank provides some details about its requirements, interest rates, for example. PNC is prioritizing creditworthiness. So, you need a good to excellent credit score in order to qualify for it.


  • Allows co-signer or joint application.
  • Offers interest discounts for qualified customers.
  • Doesn’t charge origination fee.
  • Makes direct payment to your creditors in order to consolidate your debts.
  • Offers numerous repayment options.


  • Hoards loan requirements, fees, and rates on its websites.
  • Charges late payment fees.
  • Offers lower maximum personal loan limit compared to other lenders.

Who This Product Is Best For

PNC personal loan products may be the best fit for you if you’re someone who:

  • Requires a lower sum. PNC offers personal loans starting from $1,000 to $35,000. So, if you’re in urgent need of a few thousand dollars, you can quickly finance the need with PNC’s personal loan product.
  • Needs a co-signer. This is a good option if you have bad credit. You apply with a co-borrower with a good credit score and boost your chances of approval.
  • Is an existing customers. Lucky you if you’re already an existing customer. What’s more? You stand a chance to get a 0.25% discount on interest if you opt for auto pay from your checking account.

Who This Product Isn't Right For

PNC personal loan products may not serve you well if you’re someone who:

  • Requires a large sum. Consider other personal loan lenders for anything more than $35,000—the lender doesn’t give up to this amount in some states. For example, the maximum amount you can get in California is $10,000.
  • Has a good credit score. The truth is you can get a larger loan amount and better rates from other lenders with a solid credit score.
  • Make late payments. You don’t want to get a personal loan from PNC and make late payments. Otherwise, you risk paying additional 10% of your amount due or $40 (whichever is greater) as penalty for late payment.
  • Wants to clear or consolidate your college loan. You cannot use PNC’s personal loan products to finance college loans.

What This Product Offers

  • Debt consolidation. Combine your high interest loans and make monthly payments at a lower interest rate.
  • Home improvements. Finance the cost of improving your home seamlessly with this product.
  • Medical bills. Settle medical bills
  • Events loans. Fund your wedding, birthday, graduation, etc. with the PNC personal loan.
  • Large expenses and other personal projects. Take care of personal projects, repairs, or other large expenses with this product.

Product Details

Debt consolidation

You can find yourself entangled in different loans with high interest rates where you begin to think of a way out. With a debt consolidation loan, you combine all your debts into one so that you make a single monthly payment at a lower interest rate. It sounds cool but one downside is that you end up paying more in interest.

And one cool thing is that PNC can pay all your creditors with its personal loan products, so that you only make a single monthly installment payment of the amount paid to your creditors plus interest until you pay in full. If the amount you require is anything within $1,000 and $35,000, you can consider PNC personal loan products.

Home improvements

You can consider this product to cover the costs for minor home repairs or remodeling. Check how much you pre-qualify for and at what rate and term before you apply.

Medical bills

In case of a medical emergency, you can apply for this loan to clear all bills. This product is good to finance minor surgeries, accidents, dental care items, among other things. Present your proof of income, address, identity, along other credentials the lender requires in order to apply.

Where This Product Stands Out

  • Rewards automatic payments. Get about 0.25% discount in interest by signing up for automatic payment from your checking account.
  • Welcomes co-signers. Apply with someone who has a better credit rating than you in order to boost your chances of getting an approval.
  • Offers more convenient repayment terms. You can choose how long you want to repay the amount you need plus interest, usually between six months to five years. But don’t forget that the longer your term the higher interest you pay. It is better you do not stretch your repayment term unnecessarily.

Where This Product Falls Short

  • Offers limited amounts. You cannot get more than $35,000 personal loan from PNC. If you need funds to cover a larger project, you have to consider other alternatives.
  • Gives personal loans according to the customers’ location. PNC terms change from one state to the other. You have to first provide your ZIP on the lender’s website before you can see what is obtainable in your area.
  • Simplifies application for existing customers. If you’re a new customer, you need to apply in person in order to get a personal loan from PCN. The process usually take days until you access the funds.

How to Qualify for This Product

Eligibility requirements vary from one lender to the other. The following are what you need to ensure in order to qualify for PNC personal loan products:

  • Have a good to excellent credit score. PNC doesn’t categorically state the minimum credit score you need for it to consider you for its products. Yet, have nothing less than 670 on FICO scale.
  • Show a proof of monthly revenue. No lender, including PNC, wants to lose its money. PNC requires that you have a stable monthly income or debt-to-income ratio of 35% at the time of application.
  • Use a co-signer you live with. While PNC welcomes applying for its personal loan products with a co-borrower, it is mandatory for you to apply with someone you live with under the same roof.

How to Apply for This Product

Apply online if you’re an existing customer. Read the steps below to understand PNC personal loan application process—applicable for both new and exciting customers.

  1. Pre-qualify. Check the rate you’re likely going to get before you officially apply. Fill in your full name, social security number, and income. Also, provide your proof of income and create your password. The pre-qualification stage has no effects on your credit score.
  2. Compare your offers. Check the rate PNC is offering you. Note that the initial rate you get via a soft enquiry may not be the final rate you will get. PNC needs to do a hard enquiry (this will hurt your credit score) in order to determine the exact rate you are likely to get for the loan. Choose the best offer that meets your needs.
  3. Apply officially. Submit an official application. Don’t forget, submitting your bank statement (or pay stubs) alongside other documents PNC requires is mandatory. The last step is to allow the lender to conduct a hard enquiry on your credit history. Expect the lender’s feedback within 24 – 24 hours of submitting your application.

Alternatives to This Product


Avant offers similar personal loan products as PNC. However, its minimum loan amount is $2,000 and max out at $35,000. The lender offers flexible repayment terms, but serves interest higher than PNC.


You can get up to $50,000 from Upgrade. It minimum loan amount tallies with that of PNC, even $1,000. With a loan credit score of 580, you can qualify for Upgrade personal loan products. It is best to compare PNC and Upgrade offerings before you apply to PNC in order to choose the product with the most favorable terms.

Customer Reviews

PNC maintains its position as one of the largest banks in the country with many customers trooping in for its personal loan products. However, the reviews it receives on Trust Pilot and Better Business Bureau (BBB) are not encouraging.

On Trust Pilot, the lender has a 1.3-star out of 5-stars from 327 customer reviews. On BBB, it attracts 1.12 over 5 stars based on 439 customer reviews. The customers justify their negative reviews, saying the bank charges high fees, poor customer service, and slow processing time.

The reviews, notwithstanding, encompass every single PNC’s operations and not limited to its personal loan products only.


We reviewed PNC personal loan  based on 20 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated PNC personal loan  based on the weighting assigned to each category:

  • Loan cost: 35%
  • Loan details: 25%
  • Customer experience: 20%
  • Eligibility and accessibility: 10%
  • Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit score and time in business requirements and the geographic availability of the lender.

Finally, we evaluated PNC personal loan  customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.

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