TD Bank Personal Loan Review: Rates, Fees, & Terms

Disclaimer: This post contains references to products from one or more of our advertisers. We may receive compensation (at no cost to you) when you click on links to those products. Read our Disclaimer Policy for more information.

TD Bank has offered banking solutions to its customers in America for almost 170 years. With over 1200 branches and nearly 7 million customers, TD Bank is one of the largest and most reputable banks in North America.

TD Bank offers low rates on personal loans and has an easy application process that can get you approved in as little as 60 seconds. You can even apply online from the comfort of your home!

TD Bank may be your best option if you’re currently in the market for a personal loan. This bank offers a range of personal loans, including secured and unsecured options. Secured loans are backed by collateral, such as your house or car, while unsecured loans are not backed by collateral and can be riskier for both the lender and the person borrowing the funds.

All current TD Bank customers can apply for a personal loan. If you are not an existing customer, you may still apply but will be subject to increased credit and income requirements. Check out the top personal loan providers on this website and compare rates before deciding!

Best for Traditional Personal Loans
TD Bank Personal Loans
TD Bank Personal Loans
  • Loan Amount
    $2,000 - $50,000
  • Est. APR
    6.99% - 21.99%
  • Learn More
  • Loan Details

TD Bank Personal Loans Pros and Cons:


  • Low-interest rates
  • Easy application process
  • No hard credit inquiries for pre-qualification
  • Quick approval time


  • Late fees if you miss a payment
  • No co-signers or joint applications
  • Good credit required
  • Loans only available in certain states

TD Bank Personal Loans Features and Benefits

TD Bank personal loans offer flexible fixed or variable rates based on your credit score and the loan terms. You may also qualify for low monthly payments even if you have a variable rate. TD Bank offers competitive rates compared to other lenders with an estimated APR range of 6.99% to 21.99%.

Flexible repayment terms make it easy to repay your loan over time. You may qualify for a term that matches your monthly cash flow needs of up to 5 years.

TD Bank makes it easy to repay your loan early without being penalized with no origination fees or pre-payment fees.

No Origination Fees

Origination fees are common with loan providers, but TD Bank does not require borrowers to pay any of these fees. You can save thousands of dollars by avoiding origination fees. However, they are typically hidden in your loan’s APR.

No Prepayment Fees

When considering a personal loan from TD Bank or another lender, pay close attention to the payment schedule and terms of the contract in case you want to make extra payments for any reason.

TD Bank does not require borrowers to pay pre-payment penalties when they repay the loan early or make extra payments towards their principal balance each month. This feature makes it easy to save money on interest by paying off your credit card or other loans faster.

Quick Loan Funding Times

TD Bank has a streamlined process that makes the application and approval steps easy for its customers with quick approval times and fast funds. If additional documentation is not required, your application may be approved in as little as 60 seconds. Once approved, your funds could be available as quickly as the next business day.

When additional verification is required, your application and funds disbursement may take up to 10 business days.

Flexible Payments

TD Bank offers fixed or variable rates on personal loans, which means that you can choose the loan term and monthly payments that work best for your financial situation. Fixed-rate options offer low-interest rates, while variable-rate options provide more flexibility with monthly payment amounts.

How to Qualify for a Personal Loan from TD Bank

To qualify for a personal loan from TD Bank, you must be at least 18 years of age and a U.S citizen or permanent resident with a valid social security number. You must also live in a state where TD Bank currently operates. While your credit score must be 660 or higher, there are no specific income requirements to apply. However, your debt-to-income ratio needs to fall within TD Bank’s guidelines to be approved.

How to Apply for a TD Bank Personal Loan

The TD Bank application is easily accessible online and can be completed in just minutes! TD Bank’s application process is faster than other personal loan options. This inquiry won’t affect your credit score since it is a pre-qualification, and your credit score will not be checked until you are ready to apply for the loan.

You can go directly to and then select products and personal loans to begin the application process. You may also visit your nearest TD Bank branch location and inquire about these loans in person. If pre-qualified, you will need proof of ID and proof of income to complete the application.

>> More: How to Apply for a Personal Loan

How Do TD Bank Personal Loans Compare to Other Lenders?

Overall, TD Bank offers a competitive personal loan with low rates and flexible payment amounts that work for customers of all types. If you’re looking for a new lender or have recently applied at another bank, consider applying through TD Bank instead.

TD Bank’s low-interest rates and the streamlined application process will benefit customers with good credit. With no origination fees or prepayment penalties, TD Bank is an excellent choice for personal loans.

#1. TD Bank Personal Loans vs. Upstart Personal Loans

Upstart offers personal loans with APRs as low as 5.31% for borrowers with excellent credit, while TD Bank offers slightly higher rates starting at 6.99%.

Loan amounts are also lower at Upstart than at TD Bank – $1000-$50,000 vs. $2000-$50,000.

Upstart only requires a minimum credit score of 620 for a personal loan. Customers may not qualify for loans from TD Bank if their credit score is below 660.

Neither personal loan option has pre-payment fees. However, Upstart has loan origination fees of up to 8%, whereas TD Bank does not.

>> More: Upstart Personal Loan Review

#2. Upgrade Personal Loans vs. TD Bank Personal Loans

Upgrade personal loans offer APRs as low as 5.94% compared to TD Bank’s 6.99%. The maximum loan amount for Upgrade is only $35,000 rather than $50,000 with TD Bank.

Upgrade does not charge application fees or pre-payment penalties on its loans, but it charges origination fees of up to 8%.

Upgrade offers extended repayment terms of up to 84 months, giving borrowers more flexibility with monthly payments. TD Bank only offers up to 60-month repayment terms.

While Upgrade does not disclose its minimum credit score requirement, you should expect to need a credit score of at least 620 to be approved. TD Bank has firm credit score requirements of at least 660.

>> More: Upgrade Personal Loan Review

#3. TD Bank Loans vs. Payoff Personal Loans

Payoff only offers loans for credit card consolidation. Payoff personal loans have a range of APRs starting at just under 6%.

Payoff offers loans up to $35,000 with repayment terms between 24 and 60 months. In contrast, TD Bank offers larger maximum loan amounts of up to $50,000.

Like TD Bank, Payoff doesn’t charge application fees. However, an origination fee of up to 5% is taken from the loan at the initiation.

You will need at least a credit score of 600 and 3 years of credit history to be approved for Payoff loans. TD Bank requires that applicants have at least 660.

>> More: Payoff Personal Loan Review

#4. Avant Loans vs. TD Bank Loans

Avant personal loans are a great option for those with bad credit. Avant offer rates starting at just under 10% and loan amounts up to $35,000.

While TD Bank has zero origination fees, Avant charges an administration fee of up to 4.75%.

Avant may require a minimum credit score of 580 to be approved for personal loans, while TD Bank has a firm requirement of 660 or higher.

Both lenders do not charge any pre-payment fees or application fees.

>> More: Avant Personal Loans Review

What Can TD Bank Personal Loans be Used For?

TD Bank personal loans can be used for almost anything, including home improvement projects, debt consolidation, vacation expenses, or even having additional funds on hand to start a new business.

Frequently Asked Questions

How Long Does TD Bank take to Approve Personal Loans?

TD Bank can approve personal loans in as little as 60 seconds. However, the bank may require additional documentation if your application is incomplete. If you need to provide additional information, it could take up to 15 business days to review and approve or deny your application.

Does TD Bank Offer Personal Loan Refinance?

TD Bank does not offer personal loan refinancing. However, you can use your TD Bank personal loans to consolidate debts such as credit card balances and student loans into a single monthly payment. Using a personal loan to consolidate debt is not the same as refinancing.

If you do not repay your TD Bank personal loan on time, the bank may report it to consumer credit bureaus. If you want to avoid having this negative mark reported in addition to late payments related to existing debt, be sure to avoid missing any payments.

What Credit Score is Needed for a TD Bank Personal Loan?

A credit score of 660 is required for existing TD Bank customers. If you do not currently bank with TD Bank, the minimum credit score requirement is 680.

Does TD Bank Charge Any Personal Loan Fees?

TD Bank does not charge any fees for personal loans except for a small fee for late or missed payments. In addition, there are no check processing or returned payment fees.

Bottom Line: TD Bank Personal Loans Review

TD Bank personal loans are an excellent choice for borrowers with a credit score of 660 or higher. You can apply online in just 60 seconds, and approval takes up to 15 business days. There are no application fees or monthly maintenance fees with TD Bank Personal Loans.

Compared to other lenders, TD Bank offers a safe and reliable option for personal loans. If you’re looking for an easy way to get the funds that you need, then apply for a TD Bank personal loan today!

Ashley Franklin
Ashley Franklin

Ashley Franklin is a professional writer and financial literacy expert. Ashley double-majored in Computer Science and Communications, and she brings her talents to the forefront with writing about personal finance and investing. Having worked with renowned international websites and publications, Ashley has found that there’s no one-size-fits-all solution to financial management. That’s why her articles are all about finding what works for you.