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LAST UPDATED: March 15th, 2021

Founded in 1868, Frost Bank is a San Antonio, Texas-based bank with more than 125 local financial centers in the state. It offers all the standard banking services, including checking, loans, mortgages, savings, and mobile banking, as well as several insurance and investment services. 

Fixed-rate personal loans are available either unsecured or secured by collateral. Loan rates and terms will depend on which type of loan you get approved for, but Frost Bank's APR ranges from 9.49 percent to 12.00 percent with loan amounts ranging from $2,000 to $25,000 — smaller and larger loan amounts may be available. 

Note: Frost Bank personal loans are only available in Texas.

Keep reading for pros and cons of this personal loan company, and frost bank reviews from real customers.

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The Good

  • Borrow Small Loan Amounts
  • Interest Rates Based on Collateral
  • No Fees
  • Autopay Rate Discount
  • Customer Service

Borrow Small Loan Amounts

If you are looking for a smaller loan amount, Frost Bank could be a good option since the company offers loans as small as $2,000.

Interest Rates Based on Collateral

Instead of determining rates solely on your credit score like most other personal loan lenders, Frost Bank offers secured loans that can be backed by a Frost Bank CD, money market account, savings account, stocks, bonds, brokerage, annuities, or trust account. This is good news for borrowers with bad credit or no credit history.

Frost Bank does also offer unsecured loans.

No Fees

Frost Bank does not charge an annual fee, prepayment penalty fee, or loan origination fee. It is unique that Frost Bank doesn't charge an origination fee, since most personal loan lenders do charge this fee.

Autopay Rate Discount

If you sign up for autopay from a Frost Checking or savings account, you may be eligible for a .25 percent rate decrease on your personal installment loan. While it may not sound like much, this is definitely a benefit to Frost customers who opt in. 

Customer Service

Customer service is available 24/7 via the Frost hotline. This is always a good indication when it comes to choosing a service provider, especially if you are the type of person who wants to talk to a warm body about your account. In 2019, the bank celebrated 10 years of award winning customer service in the J.D. Power Retail Banking Satisfaction Study.

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The Bad

  • Low Maximum Loan Amount
  • Limited Online Information
  • Frost App may not Support Loan Management
  • Only Available in Texas

Low Maximum Loan Amount

Frost Bank generally specializes in small loan amounts, thus its maximum loan amount offering is much lower than other personal loan lenders. The company clearly advertises loan amounts up to $25,000, but you may qualify for a larger loan based on your collateral.

Limited Online Information

There is very little available online about Frost Bank's personal loan offerings and requirements. Additionally, customers need to contact via phone or visit the local branch in person (more than 100 in Texas). 

Consumers would probably appreciate more robust information available online in order to do their own research. However, because of the bank's application process, you get a quick response. Applications take about fifteen minutes. From there, you should get an answer in two to four hours. Keep in mind that potential borrowers can request more information via email or schedule a phone call through the Frost website.

Frost App may not Support Loan Management

The Frost app has many helpful mobile banking features that include the ability to set up a Frost account, send and receive money, see your finances, deposit checks, and more, but it may not provide any services for managing your Frost Bank loan. This may diminish the convenience of the Frost app, since you may not be able to make payments or view other loan information a long with your banking information in one location.

Only Available in Texas

This bank only offers its services in the great state of Texas. If you live elsewhere, find another lender.

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The Bottom Line

With little information available online, we need a bit more feedback from customers regarding this Texas bank's personal loan services. Minimum and maximum loan amounts are not disclosed — although the website does outline loan amounts from $2,000 to $25,000; but it is unclear if these are the minimum and maximum loan amounts). 

A Frost Bank loan is a great option for those with low or no credit, since the company generally requires collateral to determine loan rates and terms. Smaller loan amounts are also offered, which allows Frost Bank to lend to low-credit borrowers, and also provides a good option for borrowers who only need a small loan since many lenders only offer loans as small as $5,000.

If you have borrowed from this personal loan company, please tell us about your experience by leaving a review.

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