Truist Bank Personal Loan Full Review
Explore a loan option that offers up to $100,000 with one of the most favorable repayment plans and competitive interest rates in the U.S. market.
Introducing Truist Financial’s Personal Loans: Your Solution for Debt and Financial Emergencies
If you’re facing high debts or need to handle financial emergencies, Truist Financial has the answer you’ve been looking for. As one of the largest financial institutions in the USA, this bank offers a range of personal loans with the capability to borrow up to $100,000 for both new and existing clients. Don’t miss out on this opportunity to regain control of your life with Truist Financial’s support.
The Sixth-Largest Bank in the USA
Operating under the Truist Financial brand since 2019, this bank is the result of the merger between BB&T Corporation and SunTrust Banks, Inc. Headquartered in Charlotte, North Carolina, Truist Financial combines the rich history, client base, and assets of SunTrust, bringing over a century of experience to their services.
Today, Truist Financial stands as the sixth-largest commercial bank in the United States, catering to the needs of more than 10 million clients across 15 states, in addition to Washington, D.C., through its extensive network of 2,000 branches. Its range of services includes checking and savings accounts, credit cards, personal loans, auto loans, home equity loans, and small business loans.
Secured and Unsecured Personal Loans
Truist Financial offers both secured and unsecured personal loans, with loan amounts ranging from $2,000 up to $100,000, one of the highest limits available. While secured loans require collateral, unsecured personal loans eliminate the need for assets as insurance.
For those interested in unsecured personal loans, Truist Financial provides one of the most advantageous options on the market. They offer competitive interest rates, lower fees, and even discounts. Currently, the bank offers an interest rate of 7.34% for non-customers, with a maximum rate of 18.99%. However, Truist’s clients may qualify for even lower interest rates, such as 5.99% APR, on a new personal loan.
It’s important to note that the actual interest rate is calculated based on various factors, including creditworthiness, income, and debt-to-income ratio.
Main Benefits of Truist Financial’s Personal Loans
Truist Financial provides several benefits to borrowers who take advantage of their personal loans, especially those who make timely repayments.
Existing Truist Financial customers can benefit from discounted interest rates, as well as the possibility of obtaining higher loan amounts compared to non-customers. Additionally, borrowers who sign up for automatic payments may receive an additional discount on their interest rate.
Furthermore, Truist Financial does not charge any origination fees or prepayment penalties on their personal loans. This means that borrowers will not face any fees for repaying their loan early.
Additional benefits of Truist Financial personal loans include:
- Fixed monthly payments
- Fast approval decisions
- Same-day funding
- Fixed rates and payments
Important Considerations and Drawbacks
While Truist Financial’s personal loans come with numerous benefits, it’s essential to be aware of potential drawbacks as well.
While interest rates may be lower for current customers and those with good credit scores, borrowers with lower creditworthiness and scores may face higher interest rates. Additionally, Truist Financial may have strict credit requirements in certain regions, which could make it challenging for individuals with lower credit scores to qualify for a personal loan.
Lastly, it’s important to note that Truist Financial’s personal loans may not be available in all states. The bank currently operates branches and provides full services in Louisiana, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
How to Apply for a Truist Financial Personal Loan
Applying for a Truist Financial personal loan is simple. You can complete the application process online or visit one of the bank’s branches. If you opt for the online application, you can receive approval on the same day.
Click the button below to learn more about how to apply for a personal loan at Truist Financial, as well as the bank’s specific requirements.
