Pros Explained

• Loan pre-approval available: TD Bank offers pre-approval for personal loans in as little as 60 seconds. Before moving forward with a complete application, prospective borrowers can review loan amounts and terms without impacting their credit.
• No application or origination fees: With some personal loans, origination fees are as much as 8% to 12% of the loan amount. But with TD Bank's Fit Loans, there are no origination fees or application fees. 
• Fast funding time: Once your application is approved, TD Bank will fund your loan as soon as the next business day.

Cons Explained

• Not available in most states: Loans are only available in 15 states and Washington, D.C.
• Borrower requirements not disclosed: Although some lenders disclose specific minimum income and credit requirements, TD Bank provides less information about its eligibility criteria. 
• Limited loan terms: Some companies offer personal loans with a broad range of term options, such as 12 to 84 months, so you can pick a term that gives you a payment that fits your budget. But TD Bank is more limited; you can only choose a term between 36 and 60 months.

Types of Personal Loans Offered by TD Bank

TD Bank offers one personal loan: the TD Bank Fit Loan. TD Fit Loans are unsecured and have fixed interest rates.

You can use a TD Bank Fit loan for several purposes, including paying for a vacation, making home improvements, or consolidating debt. However, the loans cannot be used for education or business purposes.

Time to Receive Funds

Depending on when your application is approved, you could receive your loan funds as soon as the next business day. However, it may take a few days for your bank to process the transfer, so you may have to wait to use the money.

Borrower Requirements

TD Bank doesn't specify a credit score or income minimum. However, the lender does have a pre-approval tool you can use to check your eligibility without hurting your credit score. 

TD Bank Personal Loan Features

• Minimal fees: TD Bank's personal loan comes with minimal fees, which makes it more affordable to borrow money. Some lenders charge as much as 12% for loan origination, which would amount to a $2,400 fee for a $20,000 loan. TD Bank doesn't charge origination or application fees, nor does it charge prepayment penalties. The only fees it does charge are a late fee if you miss your payment due date and, if you live in Florida, a documentary stamp fee.
• Online application: Applicants can get pre-approved online for a TD Bank personal loan in as little as 60 seconds. The process only involves a soft credit check, which won’t impact your credit score. After getting pre-approved, you can submit a full application online. If you’re approved, you may receive your loan funds as soon as the next business day. 

Co-Signers and Co-Applicants

If you have less-than-perfect credit, some lenders allow you to apply with a co-signer or co-applicant to improve your odds of qualifying for a loan. But TD Bank doesn't allow applicants to apply with either a co-signer or a joint applicant, so you must qualify for a loan based solely on your own information. 

Can You Refinance a Personal Loan With TD Bank? 

If your credit improves, you may be interested in refinancing your personal loan to secure a lower rate. However, TD Bank doesn't allow borrowers to refinance TD Fit Loans, so you'll need to work with another lender. 

Customer Service

If you need help with your application or managing your personal loan, you can contact TD Bank by visiting a branch, calling customer support, or messaging on X (formerly Twitter). 

Medium	Contact	When
Telephone	1-877-300-4020	Weekdays, 9 a.m. to 5 p.m. ET Saturday, 10 a.m. to 5 p.m. ET Sunday, 10 a.m. to 2 p.m. ET
X (formerly Twitter)	@TDBank_US	Daily, 6 a.m. to 11 p.m. ET

Customer Satisfaction

Since TD Bank's personal loans are only available in some states, the lender was not included in J.D. Power's consumer lending study. 

However, TD Bank is generally well-regarded in the banking industry, and J.D. Power ranked T.D. Bank third out of nine lenders in its national banking satisfaction study. The study evaluated banks' customer experience based on seven factors: trust, people, account offerings, customer accessibility, savings, digital tools, and customer support. 

Reviews on Trustpilot are more negative; TD Bank has a TrustScore of 1.4 out of five based on over 2,000 reviews. However, reviews were mainly focused on issues with specific branches and bank accounts, so the low rating may not reflect customer experiences with personal loans. 

How to Qualify and Apply for a TD Bank Personal Loan

Before applying for a TD Bank loan, collect the following information: 

• Social Security number
• Employment history
• Proof of income, such as recent paystubs
• List of major expenses, such as your rent or mortgage payment

Once you have those details, you can follow these steps to apply for a TD Bank personal loan online: 

1. Get pre-approved: Use the pre-approval tool to provide basic information about yourself. Based on that information, TD Bank will show you potential loan options. Getting pre-approved takes as little as 60 seconds, and it has no impact on your credit score. 
2. Select a loan: Choose one of the loan options offered from the pre-approval tool and continue to the full loan application. The site will prompt you to enter more details about yourself, your income, and your expenses, and it will ask you to consent to a hard credit inquiry. 
3. Complete verification process: The bank may request follow-up documentation before offering you final approval. For instance, it might request a copy of your driver's license or other ID, along with documents that verify your employment, income, and bank account information.

Once you're approved, you could receive funds as soon as the next business day.

Other Banking Services and Loans Offered by TD Bank

TD Bank is a full-service bank, offering a wide variety of banking and loan products. Some of its options include: 

• Certificates of deposit (CDs)
• Checking accounts
• Credit cards
• Home equity loans and lines of credit (HELOCs)
• Mortgages
• Savings accounts
• Small business accounts

On some accounts, TD Bank promotions could give you a cash bonus for opening a new account and meeting certain deposit requirements. 

Compare TD Bank With Other Personal Loan Lenders

APR Range	8.99%–23.99%	8.74%–24.99%	10.49%–19.49%
Loan Amounts	$2,000–$50,000	$1,000–$50,000	$2,000–$30,000
Loan Terms	36–60 months	12–84 months	12–60 months
Recommended Minimum Credit Score	300	660	Not disclosed
Origination Fee	None	None	None
Time to Receive Funds	1 day	1 day	Up to 2 business days

The Bottom Line

If you live in one of the states where a TD Fit Loan is available and you have excellent credit, TD Bank's personal loans could be a good option. For borrowers with strong credit scores who select shorter loan terms, the loans are available at competitive rates with minimal fees. 

But other borrowers and those who want longer-term options may not be a good fit for TD Bank; the rates on its loans may be too high, and it has limited term options to choose from. If you have fair to good credit, you can likely find more suitable options from other lenders. 

Is a TD Personal Loan Worth It?

TD Bank could be a good option if you have very good to excellent credit and want a loan with a term of 36 months. If you need a longer term—or have less-than-perfect credit—TD Bank's rates may be higher than you could get with other lenders. 

Is It Difficult to Get a Personal Loan From TD Bank?

TD Bank doesn't disclose its minimum credit score or income requirements, but it's only available in 15 states. And according to the bank, only those with excellent credit who choose shorter loan terms will qualify for its best rates. 

What Credit Score Do You Need for a Personal Loan from TD Bank?

TD Bank doesn't have a specific credit score minimum. But it does say that excellent credit is needed for its best rates. 

How Long Does It Take TD Bank to Approve a Personal Loan?

TD Bank boasts quick loan disbursement times. If your application is approved by 4:30 p.m. ET Monday through Friday, your loan could be disbursed as soon as the next business day. But depending on your bank, it could take up to three days for your loan funds to be available. 

What Is the Interest Rate on a Personal Loan at TD Bank?

For borrowers with excellent credit that select shorter loan terms, TD Bank's advertised personal loan rates are better than the national average. But for those with less-than-perfect credit or who select longer terms, the rates can be in the double digits. 

Can You Pay Off a TD Personal Loan Early?

TD Bank does not charge any prepayment penalty, so you can pay off your personal loan early and save money without incurring added charges.

Methodology

To evaluate and rank personal loan providers we collected hundreds of data points across 70 lenders, including traditional banks, credit unions, fintechs, and special interest finance companies. We researched and evaluated APRs, loan amounts and terms, fees, customer experience, and much more. To rank the lenders in our database and to generate star ratings, we weighted the data we collected, based in part on what consumers told us were the most important features of a personal loan and lender in a survey we conducted. We grouped those factors into four broad areas:

• Loan costs (advertised APR, fees, and six other factors): 29.25%
• Loan terms (loan amount, repayment term, and three other factors): 22.25%
• Borrowing requirements (credit score, membership requirement, and six other factors): 28.5%
• Additional features (online application, pre-qualification, and eight other factors): 20%
• Learn more about how we evaluated personal loans in our complete methodology.