What do you need to get a personal loan from PNC Bank?

How to qualify for a PNC loan

  1. Minimum credit score: None.
  2. Must be at least 18 years old.
  3. Must provide date of birth and Social Security number.
  4. Must provide photo ID.
  5. Must be able to show proof of income.

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Just so, does PNC have secured loans?

There’s no official minimum credit score for an unsecured PNC personal loan, but people with damaged credit can also consider a secured personal loan from PNC. It is one of the few major banks offering secured personal loans. PNC’s loans also have no origination fees or prepayment fees.

Likewise, how does an unsecured loan work? An unsecured personal loan lets you borrow money without having to pledge items you own as collateral. Unsecured loans do not require collateral, like a house or car, for approval. … Unlike with a mortgage or auto loan, if you don’t repay an unsecured loan, a lender can’t repossess any of your personal belongings.

Also know, is an unsecured loan better than a secured loan?

Unsecured personal loans typically have higher interest rates than secured loans. That’s because lenders often view unsecured loans as riskier. Without collateral, the lender may worry you’re less likely to repay the loan as agreed. … A secured loan typically would have a lower rate.

Is it easier to get a secured or unsecured loan?

A secured loan is normally easier to get, as there’s less risk to the lender. … That means a secured loan, if you can qualify for one, is usually a smarter money management decision vs. an unsecured loan. And a secured loan will tend to offer higher borrowing limits, enabling you to gain access to more money.

What credit score does PNC use?

Applicants need a credit score of 650 to get a personal loan from PNC, according to multiple third-party sources. That means the PNC personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders’ credit score requirements for personal loans range between 585 and 700.

Who qualifies for unsecured loan?

An unsecured loan is supported only by the borrower’s creditworthiness, rather than by any collateral, such as property or other assets. Unsecured loans are riskier than secured loans for lenders, so they require higher credit scores for approval.

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