PNC Personal Loans Review 2019

Best For: Consolidating Debt

If you’re in the market for a personal loan, it can be easy to feel overwhelmed by the sheer volume of lenders to choose from. There are already dozens of options in today’s marketplace, and new lenders are cropping up all the time. With so many companies in this industry, how can aspiring borrowers differentiate between reputable institutions and predatory lenders?

Among the multitude of companies you can choose to borrow money from, one lender, in particular, has been in business since before the Civil War. PNC Financial Services Group, generally referred to as simply PNC, is one of the largest banks in America with a history dating all the way back to 1852. But just because this company has been in business for so long, does that necessarily mean that PNC personal loans are a good deal for consumers?

Prepare to find out in this comprehensive review of PNC loans.

PNC Might Be a Good Fit If:

Rather than burying the lede, let’s cut to the chase: PNC isn’t the perfect choice for everybody, but the company does shine when it comes to debt consolidation. So if you’re currently carrying a balance on several credit accounts, you can use a PNC debt consolidation loan to simplify your life and make your finances more manageable. Read on to learn more about PNC’s rates and loan terms.

About PNC

Headquartered in Pittsburgh, Pennsylvania, and with operations in 20 states as well as the District of Columbia, PNC provides a wide range of financial services for businesses, investors, and consumers alike. The company takes its name from the Pittsburgh National Corporation and Provident National Corporation, two institutions that were founded in the mid-19th century and which joined forces in 1983 to create one of the nation’s largest banks.

PNC Loan Rates & Terms

APR 5.99% – 19.99%
Loan amounts $1,000 – $35,000
Time to funding As early as 2 days
Credit score No minimum credit score needed
Best for Debt consolidation

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» MORE: Loans To Pay Off Debt

Rates and Fees

When aspiring borrowers are weighing their options among potential lenders, the most pivotal point is usually the interest rate. PNC interest rates can vary based on a variety of factors, including an applicant’s credit score, the amount requested, and whether the loan in question is secured or unsecured. In general, however, personal loans from PNC have interest rates that range from 5.99% to 19.99%. And as far as fees go, there’s no prepayment fee with PNC loans, so you can pay off your balance early without facing a penalty.

PNC Personal Loan Review

If you’re considering choosing PNC as a provider for your personal loan, you might change your mind after conducting some light research. You don’t look far to find less-than-favorable PNC loan reviews. In fact, many of the bank’s former customers don’t have a single nice word to say about the institution. The negative PNC reviews largely center around the company’s customer service, rather than their specific lending terms, which are listed here:

Interest Rates: Typical APRs with unsecured personal loans from PNC range from 5.99% to 25.44% based on the applicant’s credit report and the amount requested among other factors. Loans can range from $1,000 to $35,000 with repayment terms anywhere from 6 months to 5 years.

Cost: PNC doesn’t charge origination or prepayment fees on personal loans. So, aside from the APR, the only other significant fee a PNC borrower can expect to face is a late fee if they fail to make a payment on time. PNC’s late fee is the greater of $40 or 10% of the amount due, which is relatively high compared to many other modern lenders.

How to Qualify for PNC: In order to qualify for a PNC loan, you’ll first need to live in one of the 20 states where the bank operates. If you satisfy that criterion, then you can either visit a PNC branch to apply in person, or you can spend 15 minutes filling out an application online. There’s no minimum credit score to get approved by PNC, but only applicants with a decent credit history are likely to get a thumbs up. If you do get approved, you could have your funds in as little as 2 days. And while you don’t need a PNC checking account in order to qualify for a loan, having one can save 0.25% off your APR.

Hard Credit Pull: Before applying for a PNC loan, it’s important to understand this lender requires a hard inquiry concerning credit reports. That means that simply applying for a personal loan from PNC will negatively affect your credit score whether your application is approved or denied. The damage to your score likely won’t be too severe, but if multiple lenders have also conducted hard pulls on your credit report in a short span of time, your score could sink drastically.

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How PNC Personal Loans Compare

So how does PNC compare to other popular lenders? In truth, this institution doesn’t stack up very well. Many other lenders offer similar or better terms and have received far more favorable customer reviews compared to PNC. Yet while PNC personal loans probably aren’t the best choice for many aspiring borrowers, this institution could be a perfect fit for others.

PNC vs Marcus

One lending institution that’s commonly compared to PNC is Marcus by Goldman Sachs. If you’re unfamiliar with Marcus, here’s a quick look at how this lender stacks up against PNC.

  • Marcus personal loans have no fees
  • APRs with Marcus loans are fixed and range from 6.99% to 24.99%
  • Marcus issues loans up to $40,000
  • Repayment terms range from 3 to 6 years

PNC Pros and Cons

Here’s a quick look at the pros and cons of PNC personal loans.

PNC Pros

  • No origination or prepayment fees
  • Low APRs for qualified applicants
  • Decent choice for debt consolidation

PNC Cons

  • Poorly reviewed customer support
  • Every application requires hard inquiry of credit
  • Late fees are higher than many other lenders

PNC for Debt Consolidation

One area where PNC does hold its own is debt consolidation. If you’re currently paying down balances across several credit cards, you can consolidate your debt with PNC. Not only will this simplify your life by reducing the number of bills you receive each month, but you could also shave a few percentage points off your APR.


Despite having been in business for nearly 180 years, it seems that PNC still has a lot to figure out when it comes to personal loans. Most hopeful borrowers will probably be better off choosing another lender, but if you’re simply interested in consolidating debt, PNC could be worthy of your consideration.

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