TD Bank Personal Loans Review

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By MarkPeters

How do I Qualify for a TD Bank Personal loan?

You must be at least 18 years old to qualify for a TD Fit Loan. The minimum age for most places is 18. The minimum age requirement is 18 if you live in an eligible country. A representative from TD Bank stated that personal loans can only be obtained in Connecticut, Delaware and Florida, Maine, Marylands, Massachusetts, New Hampshire or New Jersey, New York, North Carolina. Rhode Island, South Carolina, South Carolina, Vermont, Virginia and Washington D.C.

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TD Bank will request the following information when you apply:

  • Your Social Security Number
  • Your mortgage and rental payments cost
  • Your employment history and income

TD Bank doesn’t have a minimum credit score requirement or income requirements. We contacted TD Bank in order to inquire about its borrower criteria. However, company representatives refused to give any further information.

In as little as 60 seconds, you can get your initial approval. Once approved, you will be able to access the funds the next day.

Who should get a TD Bank personal loan?

TD Fit Loans are available to those with excellent credit. They offer competitive interest rates and have no origination fees. Generally, TD Fit Loans work best for those who reside within the lender’s service area and require a loan as quickly as possible. TD Bank provides quick approvals and loan disbursement so you can quickly get the money you need to pay for your emergency expenses.

A TD Fit Loan is a good option for people with significant expenses such as home repairs or improvements. Existing customers of TD Bank can get a loan, but TD Bank does not offer special perks or discounts like other lenders.

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However, applicants who do not live in the area where the lender is located will be denied. TD Bank does not advertise a minimum credit score nor income requirement so it is difficult to determine if a borrower with poor credit will be approved for a loan. TD Bank does not allow cosigners or secured loans. These are two common ways that borrowers with bad credit can improve their chances of getting a loan.

You can still see if your credit score is high enough to pre-qualify, so it’s worth looking into all options. You may be able to qualify for a TD Fit Loan if your credit score is not high enough.

How to apply for a TD Bank personal loan

These steps will help you apply for a personal loan from TD Bank:

Online prequalification: You can access the personal loans page at TD Bank’s website to fill out the TD Fit Loan Prequalification Form. It will request your income, contact information, income, rent payment or mortgage payment, employment information and salary. The form will ask you how much money you would like to borrow as well as your intended use of the money.

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You can check loan options. Once you have completed the form, you will be asked to consent to a soft credit assessment. Soft credit checks don’t affect your credit score.

Check out your loan options. TD Bank will issue an initial pre-approval decision based on the soft credit. TD Bank will inform you of your options for term and rate if you are eligible to borrow.

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Submit an Application: Once you have chosen a loan that suits you, you can complete the application. TD Bank will conduct a hard credit investigation to determine if you are eligible for a loan. A hard credit inquiry can lower your credit score by a few percentage points, unlike a soft credit inquiry. You can get your loan within one business day if you are approved.