TD Bank Personal Loan – Watch out the Step-by-Step Process to Apply
The TD Fit is the bank's loan plan that offers widely flexible terms with all the security and brand representation!
What do I need to know before applying for a loan with TD Bank?
TD Bank has an unsecured personal loan division to offer amounts of up to $50,000 with rates as low as 8.99%, depending on the repayment term (up to 60 months) and your credit history.
The bank’s personal loan section is called TD Fit. So don’t be surprised if you see the application under this name.
Under the motto ‘funds for almost everything and fast’, TD Fit offers personal loan plans ranging from $2,000 to $50,000.
Available repayment terms range from 36 to 60 months, equivalent to 3 to 5 years.
Monthly payments are determined based on the annual APR rate, which ranges from 8.99% to 23.99%, depending on a financial balance between the loan amount and term, the borrower’s income, and their credit history.
TD Bank loans have no origination or application fees, and there is also no prepayment penalty.
After approval of the personal loan and signing the contract, the borrower can receive the money in their account within one business day.
TD Bank funds can be used for various purposes, such as purchasing and repairing vehicles, consolidating credit card debt, home renovations, medical expenses, wedding financing, and even vacations.
If you believe TD Bank’s services may be useful, review the terms before applying, as like any personal loan, it will have its costs.
Who can Apply?
First and foremost, TD Bank has common basic requirements for personal loans in the US, such as being a citizen born in the country or a foreigner properly registered with a permanent work visa.
Additionally, one must be at least 18 years old, or 19 in some states.
Speaking of which, TD Fit is not available nationwide but rather in the states of CT, NJ, DE, NY, Washington, DC, NC, FL, PA, ME, RI, MD, SC, MA, VT, NH, and VA.
To obtain loans, you do not need to be a customer of any other bank services besides TD Fit.
Borrowers need to have a good credit score, typically above 660 FICO points, as well as be able to demonstrate a stable income source every month.
It’s important to note that TD Fit funds cannot be used for commercial purposes or for financing post-secondary education.
How do I Apply for a loan with TD Bank?
The application process for TD Fit is entirely done online.
First, the potential client needs to access the ‘Check my Rate’ button to gain access to the form.
The client needs to provide basic contact information such as their full name, date of birth, email address, username, and password to use the TD Bank platform for complete loan management.
Other contact information required includes a full address with city, state, and zip code, as well as a phone number.
Finally, clients need to provide further banking and income details, such as home ownership status, income type (employed, self-employed, benefits, and other), payment frequency, and annual income.
Borrowers are also required to disclose their annual rental or mortgage payments, as well as their Social Security number.
Regarding the loan, you will need to provide the loan amount and the purpose of the funds.
During the process, TD Bank may request documents such as proof of address, pay stubs, bank statements, and copies of identification.
If you have questions and concerns, TD Bank offers different channels of customer service for the public.
More Details
One of the great points of the TD Fit Loan is the ability to manage the funds comprehensively directly through the bank’s platform with the user’s login and password.
Even before applying, the client can access a personalized loan option without obligation and without affecting their credit score.
