TD Bank Personal Loans: 2024 Review

TD Bank is best for a mix of online and in-person service 

TD Bank has locations across the East Coast, while also offering online service. If you need help in person, you can walk into one of its over 1,000 locations and work with someone directly. And if you prefer to do all of your banking from the comfort of home or on the go, TD Bank has a well-rated mobile app for Apple and Android products.

TD Bank personal loan purposes

You can use a personal loan from TD Bank for almost any legitimate expense, but there are two notable exceptions. TD Bank doesn't allow its personal loans to be used for business or education-related expenses.

TD Bank personal loan fees

TD Bank keeps fees for its loans to a minimum. It doesn’t charge an origination fee, application fee, monthly fee, annual fee or prepayment fee. However, loans come with a late payment fee that’s 5 percent of the minimum payment due or $10, whichever is less. In addition, Florida residents will pay a document stamp fee.

Where TD Bank personal loans stands out

• Online and in-person support: Borrowing from a TD Bank carries the benefit of in-person support that working with an online lender does not afford. It also has a robust online experience, making it accessible regardless of how you prefer to manage your loan.
• Change your payment date: You can edit the date of your payment by contacting TD Bank in advance of the due date.
• Low maximum APR and no origination fee: Compared to online-only lenders especially, TD Bank offers a low maximum APR cap. It also doesn't charge an origination fee

Where TD Bank personal loans falls short

• Limited footprint: TD Bank is only available to residents of 15 states and Washington, D.C.
• High minimum credit requirement: You will need a credit score of at least 700 in order to qualify for a personal loan with TD Bank.
• Few loan terms: Most lenders offer terms from at least 24 to 60 months — TD Bank only offers terms from 36 to 60 months.

TD Bank customer experience

Customer support 

You can call TD Bank 24/7 for live customer support over the phone, visit a physical bank during business hours, ask the bank's virtual assistant chatbot or reach out via its social media accounts with any general questions.

Digital experience 

TD Bank can make managing your finances easier with its mobile app. Available to both Apple and Android users, it functions essentially as a mobile bank for your TD Bank products. Plus, the app offers personalized account alerts that you can customize to help you remember your payment dates. 

What people are saying about TD Bank

TD Bank does not have any reviews on Trustpilot for its U.S.-based banking services. The TD Bank Canada page has over 2,200 reviews as of June 16, 2024 and an average rating of 1.3 out of 5 stars. Most reviews are from Canadian customers and don't mention loan products.

That said, TD Bank did take top honors for the 2024 J.D. Power Online Banking Satisfaction study. Based on a 1,000-point scale, it earned 672, beating out Capital One by a single point.

How this lender compares

Do you qualify for a TD Bank personal loan?

Outside of the bank’s credit score requirement of 700, it has fairly little information on its site regarding requirements. The score falls under the “good” category. That said, the higher your credit score and the stronger your income, the more likely you are to receive a low rate.

How Bankrate rates TD Bank