PNC Bank personal loans: 2024 Review

PNC is best for small short term personal loans

If you’re a little short on cash but want to pay off the money you borrow in less than a year, PNC’s six-month term option may help. Low starting APRs and no origination fees also make a PNC loan cheaper than many competitors. You can even add a co-applicant if you don’t qualify for the amount you need on your own. 

For a lower payment, you can choose a term as long as 60 months. And if you prefer to do all your banking under one roof, PNC also offers standard bank products like checking and savings accounts. 

PNC personal loan purposes

PNC doesn’t set limits on how you use funds with a few exceptions: You can’t use the money to pay for higher education expenses or to refinance student loan debt. The low minimum loan amount of $1,000 may come in handy for small emergency expenses.  

Where PNC stands out

• Multiple short term choices: If your goal is to pay your debt off quickly, you’ll have a hard time finding terms shorter than 24 months at most personal loan lenders. PNC gives you a six- and 12-month option, in addition to the standard terms of 24, 36 and 60 months offered by most companies.
• Co-applicants allowed: PNC is one of a handful of lenders that allows you to add the income of someone else to help you qualify for a personal loan. The extra co-borrower income may help you qualify for a higher loan amount to consolidate debt or renovate your home.
• Competitive APRs: With starting APRs just above 8 percent, PNC's minimum rates are among the lowest available. If your credit is so-so, you could pay almost 25 percent, which is still significantly lower than the 35.99 percent cap found at many fair credit lenders.

Where PNC falls short

• Rates and requirements not easily found online: You need to use the rate tool to get a quote based on where you live, and the approval requirements aren’t disclosed on PNC’s website. Most lenders at least display a range so you have an idea up front. 
• Not available in all states: You’ll only find PNC personal loans in 22 states and Washington, D.C. Enter your ZIP code in the rate tool to find out if PNC offers personal loans where you live. 
• Prequalification is not offered: You’ll need to okay a credit pull, which could have a brief negative impact on your credit. 

PNC customer experience

Customer support

PNC representatives are available by phone Monday through Fridays from 8 a.m. to 9 p.m. ET, or from 8.a.m. to 5 p.m. on Saturdays and Sundays. You can also visit a branch in your area if you prefer in person service. 

Digital experience

PNC offers a highly rated phone app, scoring 4.8 stars out of 5 with over 1.5 million ratings on the App Store. All types of accounts can be checked through the app, including checking, savings, credit cards and loans. For added security, PNC customers can set up ID using touch or facial recognition.  

What people are saying about PNC

PNC scores an average rating of 1.5 stars out of 5 on Trustpilot with 1,100 reviews as of June 16, 2024. The bulk of the reviews cite poor online customer service and frustration getting issues resolved with deposit and loan accounts. One user said, in part:

"They have the worst online service, continually fails to recognize my information. It even stated my account number was not correct multiple times. They make paying off your loan a headache, I would have chosen a different bank to finance my car through if I could have."

- Trustpilot User

That said, there are relatively few reviews compared to over a million largely 5-star reviews on PNC’s digital app. Most of the positive Trustpilot reviews refer to good experience with in person contact with bank employees who took extra time to meet the needs of their customers. 

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

How this lender compares

PNC vs. TD Bank

You’ll have a much wider variety of repayment terms to choose from at PNC than TD Bank — its terms are limited to 36 to 60 months. If you need a co-applicant to qualify, you’ll also be out of luck at TD Bank since it only allows individual applications. 

TD Bank has an edge over PNC when it comes to borrowing power, giving you access to up to $50,000 compared to PNC’s $35,000 limit. It also beats PNC's funding times, with access to funds within one business day instead of the two or more days it takes to receive money from a PNC personal loan.

PNC vs. Wells Fargo

PNC has an edge over Wells Fargo when it comes to smaller loan amounts: You need to borrow at least $3,000 at Wells Fargo compared to PNC’s $1,000 minimum loan amount.  Wells Fargo also doesn’t allow co-applicants, which means you’re better off with PNC if you need someone else’s income to help you qualify for a higher loan amount or lower rate. 

Wells Fargo is the clear winner when it comes to loan amount maximums, giving qualified borrowers access to up to $100,000. If you need a longer term to keep your payment low, Wells Fargo offers terms up to 84 months, compared to PNCs 60-month maximum.

How Bankrate rates PNC