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TD Bank

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TD Bank

TD Bank offers APRs ranging from 8.99 percent to 16.24 percent

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With over 150 years of experience, TD Financial is providing quality lending and financial services to consumers along the East Coast (Connecticut, Florida, Maine, Maryland, Delaware, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C.).

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The Good

  • Benefits for Current TD Bank Customers
  • High Maximum Loan Amount
  • 5-year Maximum Loan Term
  • Easy Application Process

Benefits for Current TD Bank Customers

Current TD Bank customers have an advantage over new customers. If you are a current TD Bank customer and you agree to use your checking account to make automatic payments on your loan, you can get a 0.25 percent discount on your interest rate. Rates will vary according to credit scores and credit history, but TD Bank has favorable interest rates that start at 8.99 percent and go up to 16.24 percent. Customers who have the minimum accepted credit score should be prepared to have a rate closer to 16.24 percent, meaning their total payout during the life of the loan will be much more than the customer with the lowest rate.

High Maximum Loan Amount

TD Bank offers both secure and unsecured personal loans. Both types have a cap of $50,000, which is a higher maximum loan amount than that of many other companies in the industry.

5-Year Maximum Loan Term

While many lenders cap their loan terms at three years, TD Bank extends the max to five years, allowing the customer the flexibility to have more time to pay off the amount. Naturally, with a longer term, the monthly payments will be lower, again, helping the borrower have an easier time with repayment.

Easy Application Process

With TD Bank, the process of applying for the loan and speaking with a specialist is quick and painless. You can even find an online checklist of everything you need to provide. You could be speaking with someone about your case within minutes of submitting your application. If everything on your end is in order, you could be approved the same day you apply. Receiving your funds is of utmost importance, especially if you need the money quickly for an emergency or for an urgent matter. Certainly, this is one of the distinct advantages of getting a personal loan, and TD Bank can ensure that you have your funds within two days.

The Bad

  • Only Available in 15 States
  • Sales Tactics

Only Available in 15 States

TD Bank is a large company that offers products and services throughout the country; however, when it comes to personal loans, there are some limitations. TD Bank only offers personal loans in the following U S states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C. If you live east of the Mississippi, TD Bank will not be able to take care of your personal loan needs.

Sales Tactics

When attempting to obtain a loan through TD Bank, consumers will be encouraged to open a checking account at the same time in order to sign up for automatic payment of the loan through its "new" checking account. Want to know which personal loan company is top rated? Click Here

The Bottom Line

TD Bank is a trusted brand with over 100 years of experience. It is more than just a personal loan company and provides banking as its main service. This is beneficial for customers looking for the convenience of maintaining their banking and loan with one trusted source. Current customers will be happy to know that they are eligible for lower interest rates as a benefit of being a customer.

Unfortunately, consumers who don't live on the East Coast cannot access TD Bank and its services, making it difficult to recommend the company for personal loan needs. Further, TD Bank tends to push other banking services onto loan customers.

Overall, TD Bank offers some good features that cater more to its current customers.

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User Reviews


3 Reviews

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Victoria Nghuyen
January 18th, 2018 DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I tried to close my accounts and thought everything was settled. Several weeks later, I received a letter saying I had to pay some banking fees, which is weird because I thought I closed my accounts. I went to the bank and discovered a negative balance of $120, an amount which came out of nowhere, plus +$50 service fee. Unbelievable. The staff said they will resolve the matter, and that never happen. Very disappointed. Their ATMS don't work properly either; I tried to withdraw some cash, nothing came out, and guess what? Account balance deducted. Again, they said they'll do an investigation, which didn't happen and will never happen. Worst experience ever. This bank is a fraud. In the end I had to pay them +$170 for nothing. It was such a waste. Seriously, avoid this bank at all cost.

Kaylene Finch
November 20th, 2017 Provo, UT DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

They approved me for a car loan with a great rate, and it's been so easy to work with them.

December 9th, 2016 Arlington, VA

In October, in response to a TD Bank direct mail offer for a $15,000 personal loan, I applied for and obtained a loan for $15,000 at 15% for 60 months. (The APR was lower than the high-APR credit cards that I paid off with the loan.) The process took about 10 days, only because my loan officer and I played phone tag for a few days trying to set up the closing at a local bank. The closing went easily, took only a few minutes, and and I was handed a cashier's check for the full 15K when done. The only document I was required to bring to closing was my valid state ID. There were no Origination fees or Closing fees on my loan. I was given a coupon book for my monthly payments, which I can pay by check through the mail, or online at I am very satisfied with the loan and process.