TD Bank 2026 Personal Loan Review
TD Bank’s unsecured personal loans have minimal fees and fast funding for good- and excellent-credit borrowers, but they’re offered in a limited number of states.
4.2
- Have good or excellent credit.
- Want to avoid an origination fee.
- Want an in-person experience with a lender.
- Don’t live on the East Coast.
- Want a repayment term other than three or five years.
- Need money for a small business.
What to know about TD Bank personal loans
If you live on the East Coast of the United States and have good or excellent credit, a personal loan from TD Bank may be a solid borrowing option. The lender offers low rates and no origination fees, which keeps the cost of borrowing down. TD Bank is also a good choice if you’re in need of money fast — it funds most loans the next day after approval.
You can expect a no-frills personal loan at this bank. You won’t get to earn rate discounts, secure the loan with collateral, or apply with a co-signer or co-borrower. And if you’re using the money to consolidate debt, TD Bank doesn’t send the loan funds directly to your creditors, like some lenders do. You’ll have to do that step yourself once the borrowed funds hit your bank account.
But if you’re not looking for those extras, TD Bank is a straightforward lender that offers loans from $2,000 to $50,000, which you’ll repay over three or five years. You can use the money for almost anything, except higher education, business expenses or gambling.
If you’re someone who prefers face-to-face interaction from a lender, you can pop into one of TD Bank’s 1,000-plus branches to speak with a loan officer in person. However, you can also apply for a loan, connect with customer service agents and make monthly payments entirely online if that’s more your style.
» MORE: Compare the best personal loans
What we like most about TD Bank
- Low rates: The most-qualified TD Bank borrowers may get personal loans with rates starting at 7.99%. The maximum annual percentage rate for TD Bank personal loans is 23.99%, which is much lower than many other lenders.
- Wide range of loan amounts: TD Bank offers loans from $2,000 to $50,000, so borrowers can choose the amount that best fits their needs. If you're an existing TD Bank customer, you may be eligible for larger loan amounts.
- Fast funding: The lender says it can make instant approval decisions once an application is submitted. TD Bank sends funds to approved applicants as soon as the next business day.
- No origination fee: TD Bank does not charge an origination fee, which other lenders often deduct from a personal loan before disbursing funds. With no origination fee, you receive the full amount of money you're approved for.
Why TD Bank might not be right for you
- Limited availability: TD Bank only operates along the East Coast of the United States (excluding the state of Georgia). You won’t be able to get a personal loan with this lender unless you live in the following places: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia or the nation’s capital.
- Caters mostly to good- or excellent-credit borrowers: While TD Bank doesn’t disclose a specific minimum credit score requirement, the lender told NerdWallet it tends to seek and approve applicants with good or excellent credit (scores above 690). If you have bad or fair credit, you may have difficulty getting a TD Bank loan. Additionally, you can’t apply with a co-applicant nor secure a loan with collateral. Other lenders offer these options, which can help borrowers with lower credit scores qualify for a personal loan.
- No direct payment to creditors for debt consolidation loans: TD Bank doesn't send funds directly to creditors for debt consolidation loans, which is a feature offered by some other lenders to streamline the debt payoff process. Instead, the money will be deposited into your bank account, and you’ll have to send it to creditors yourself.
- Limited flexibility regarding the monthly payment date: TD Bank doesn’t allow borrowers to select their first payment date before signing their loan agreement. And while the lender lets borrowers change their monthly payment date once, other lenders let borrowers change their payment dates more frequently.
» COMPARE: Our picks for the best bank loans
How much does a TD Bank loan cost?
The total cost of your TD Bank loan depends on the amount borrowed, annual percentage rate and loan term. Here's an example of how different rates affect the costs of a $20,000 loan with a five-year term. TD Bank didn’t disclose the APR range for its typical borrower, so these examples are based on its general APR range.
APR | 10%. | 20%. |
Monthly payment | $425. | $530. |
Total interest cost | $5,496. | $11,793. |
Total loan cost | $25,496. | $31,793. |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a TD Bank personal loan?
Though TD Bank does not disclose a minimum credit score requirement, if you have a credit score that’s good or excellent (at least 690), you have a better chance of being approved for a loan there. Interested applicants can pre-qualify for a personal loan to preview your potential loan amount, rate, repayment term and monthly payment amount with a soft credit check, which doesn’t impact your credit score.
TD Bank’s borrowing requirements
- You must live in one of the following 15 states, or Washington, D.C., to get a TD Bank personal loan: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont or Virginia.
- You must provide a Social Security number.
- You must have a valid email address.
- You must have a valid U.S. bank account.
» MORE: How to get a personal loan
Frequently asked questions
Q: What can/can’t I use a TD Bank personal loan for?
A: You can use a TD Bank personal loan for almost anything except college tuition or higher education expenses, business expenses or gambling. And, of course, illegal activities.
Q: Should I apply for a personal loan online or in person?
A: Whether you should apply for a loan online or in person really depends on your preferences. If you’re concerned about getting the loan as soon as possible, opt for the online route. You won’t have to drive to the bank and plan around bank hours. Plus, it’s easier to compare rates from multiple lenders when you pre-qualify online. But if you want face-to-face interaction with a loan officer who can guide you through the application process, visit a TD Bank branch to apply in person.
» MORE: Comparing online vs. in-person loans
Q: Does TD Bank offer ways to get a rate discount on a personal loan?
A: No, TD Bank doesn’t offer rate discounts on personal loans. Several other lenders offer them for things like setting up auto payments or electing to send loan funds directly to your creditors for debt consolidation.
Q: What happens if I miss a payment due date?
A: TD Bank offers a 15-day grace period before charging a late fee for a missed loan payment. The late fee is $10 or 5% of your monthly payment amount, whichever is less.
Q: Does TD Bank offer hardship accommodations if I'm having trouble making a loan payment?
A: Yes, TD Bank offers an option to temporarily reduce monthly payments if you’re experiencing a short-term financial hardship. If your hardship is expected to last longer than six months, you could be eligible for a loan modification. That means your rate would be lowered and your repayment term would be extended.
How does TD Bank compare?
 |  |  |  |
|---|---|---|---|
Est. APRFrom 7.99% to 23.99% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 6.53% to 35.99% | Est. APRFrom 7.24% to 24.89% |
Loan amountFrom $2,000 to $50,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 |
Min. credit scoreNaN | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 |
How we rated this lender
NerdWallet’s editorial team rates lenders using a rubric with five weighted categories and 29 subcategories. Here are the factors we prioritized, plus why this lender received each score.
TD Bank has relatively low rates and charges no origination fees. However, it doesn’t offer any rate discounts.
Our Method: We review lenders’ rates and fees, plus any opportunities for rate discounts.
TD Bank lets customers adjust one monthly payment due date, manage their loan via a mobile app, request hardship accommodations and access frequently asked questions online. One downside is customer service is unavailable on the weekends.
Our Method: We look at factors such as customer service availability, monthly payment flexibility and whether the lender reports on-time payments to major credit bureaus.
The lender offers a wide range of loan amounts and standard repayment terms. However, it doesn’t offer secured, co-signed or joint loans.
Our Method: We assess loan amount and term ranges and whether lenders offer multiple loan types or direct payment to creditors on debt consolidation loans.
The lender lets applicants pre-qualify with no credit score impact. It also doesn’t require applicants to have a TD Bank account. However, it only offers loans in a limited number of states.
Our Method: We consider how widely available and accessible the loans are and how lenders review applicants’ credit.
TD Bank has a fairly transparent website and lets applicants see key details about their potential loan during pre-qualification. This lender also has quick loan approval and funding times.
Our Method: We evaluate loan approval and funding times and the lender’s transparency throughout the application process.
Read more about our ratings methodologies for personal loans.
