M&T Bank Personal Loans: 2025 Review

Where M&T personal loans fall short 

• Not available in every state: M&T bank only serves customers in Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia, Washington, D.C. and West Virginia. 
• Best rates reserved for existing customers: If you don’t have a qualifying checking account and aren't enrolled in automatic payments, you won't qualify for the lowest rates. 
• Restrictions on longest loan terms: If you want a repayment term greater than 60 months, your starting loan balance must be $15,000 or more.

M&T customer experience 

Customer support 

Borrowers in need of in-person support can visit one of the bank's branches. Customer support is also available by phone. In general, M&T doesn't have the highest ratings when it comes to its customer service department, with many of the bank's negative reviews citing poor experiences or long wait times.   

Digital experience 

The M&T Mobile Banking app is available for both Android and Apple products. The app has over 17,400 reviews and a 2.5 rating out of 5 stars on the Google Play store, with a majority of the negative reviews highlighting frequent outages and crashes. On the other hand, the app has 4.9 out of 5 stars on the App Store and has amassed over 272,000 reviews.  

Along with a fully digital experience, it also offers an online Financial Education Center where users can access instructional videos and general financial resources. The bank also has a resource — M&T Money Mentor — that allows users to customize a "playlist" of resources based on their current situation or their next financial milestone.

What people are saying about M&T 

As of January 2025, M&T Bank has 115 customer ratings on Trustpilot, averaging 1.4 out of 5 stars. Less than 8 percent are 4 or 5 stars, which is quite low compared to other lenders. But only eight reviews focus on a loan product.

Reviewers warn of slow customer service wait times and other delays. One customer who used an M&T Bank loan to buy an RV said:

"Paid off the loan in February ‘24 and in March registered it with our town and went on vacation. It is now April and the state had sent the title to M&T but they say they don’t have it."

— Trustpilot User

Many of the commenters also mention dissatisfaction with the bank after its merger with People's United Bank. They cite personal account errors and accessibility problems.  

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Do you qualify for an M&T personal loan? 

M&T Bank doesn’t disclose its eligibility qualifications on the website so applicants will need to prequalify — which is only available for unsecured loans — or call the customer service department before applying. You also must live within its service footprint, which includes 12 states and Washington, D.C.

How to contact M&T Bank

How to apply for a personal loan with M&T 

1. Get a quote: The application process for both the unsecured and secured loan options can be completed online or in-person. However, the bank only allows prequalification for its secured loans. 
2. Add information and finalize your application: Its website doesn't list the specific information necessary to apply, but it's good practice to have personal and financial documents on hand. These include a photo ID, your Social Security number and pay stubs.
3. Review the loan details: After looking at the loan details to make sure everything is correct, you'll sign the loan agreement. Funding information will then be provided by the bank.

Methodology

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

• Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
• Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
• Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
• Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think