TD Bank offers personal loans with no application or origination fees.

Obtaining a personal loan involves a commitment to a lender, and like any relationship, trust and dependability are essential. Some borrowers prefer to obtain loans from brick-and-mortar banks such as TD Bank. CNBC Select provides information on discounts, funding amounts, and loan terms.

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TD Bank personal loan pros and cons

Before applying for a TD Bank personal loan, consider the pros and cons as you would with any other lender.

TD Bank personal loan fees

TD Bank does not impose any application fees, origination fees, or prepayment penalties, which means you'll save money during the application process and won't be penalized if you pay off your loan early.

Some lenders charge a late fee equivalent to 5% of the minimum payment due or $10, whichever is the lower amount, while others do not.

TD Bank personal loan benefits and discounts

TD Bank provides 24/7 online account management, but does not offer any loan benefits to its customers.

How does TD Bank compare to other lenders?

TD Bank vs. LightStream

If you require a large loan and are comfortable with an online-only lender, consider LightStream as it offers higher funding amounts than TD Bank, allowing you to apply for up to $100,000 (in contrast to TD Bank's limit of $50,000).

While TD Bank offers repayment terms of up to 60 months, LightStream provides term lengths of up to 240 months, depending on the loan purpose. This may not be significant if you are already considering loan terms of five years or less. However, if you require a longer repayment term, LightStream may be the better option.

TD Bank vs. Discover

Both TD Bank and Discover are well-known financial service brands, but Discover has a slightly lower funding limit of $40,000. However, Discover offers longer repayment terms than TD Bank (up to 84 months vs. TD Bank's 60-month limit).

Why trust CNBC Select?

At CNBC Select, our goal is to deliver top-notch service journalism and in-depth consumer advice to our readers, enabling them to make well-informed decisions when it comes to their finances. Each personal loan review we publish is the result of thorough reporting by our team of expert writers and editors, who possess extensive knowledge of loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content independently, without any input from our commercial team or external third parties. We uphold the highest journalistic standards and ethics in everything we do.