TD Express Loan Review

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TD Express Loan (TD Personal Loan)

  • Personal loans from $2,000 up to $25,000
  • Funds available in as little as 48 hours after approval
  • Loan rates from 6.99%–18.99% based on credit profile of applicant
  • Term lengths 12-60 months depending on total loan amount
  • No application fees or origination fees for the loan

TD Bank offers personal loans including the TD Express Loan.  Typically, personal loan funds are used for consolidating high interest debt.  Personal loans are also commonly used for emergency expenses.  The express loan can be applied for by TD clients online, in person, or by phone.

Applying For a TD Express Loan

As mentioned, the TD Express Personal Loan can be applied for online.  The entire loan application process takes about 15 minutes.  During the application you will provide the requested loan amount as well as information about what the loan will be used for.  For instance, if you are using your loan for home improvements, you will indicate so during the application process.  There are several components to the online application including:

  • Find your closing location (where your paperwork will be signed)
  • Loan details such as requested amount and loan repayment terms
  • Applicants personal information such as address, SSN, and contact information
  • Income and employment details will need to be provided
  • Applicants monthly expenses (housing payments, etc) will need to be provided

Customers can also apply for a TD Express Loan by phone at 1-800-937-5020.

TD Personal Loan Details and Terms

TD Express Loan

As referenced above, applicants will receive a loan rate of 6.99-18.99%.  This rate assumes customers are using automatic payment with a TD Bank Account.  Customers who use this option receive a 0.25% discount on their interest rate.  When you are deciding whether a personal loan is a good option for you the interest rate will be the biggest factor.  Paying off a high interest credit card debt with a lower rate personal loan can save consumers significant money over the life of the loan.

The TD Personal Loan allows customers to pick the amount of their loan.  Loans are between $2,000 and $25,000.  Depending on the size of you loan, your location, and your credit history will all impact what your final credit interest rate is.

Once your application has been submitted you will be contacted by a TD loan rep.  This will typically happen within 24 hours of submitting your completed application.  If you are approved your funds will be transferred to you often within 48 hours of completing your application.

How To Decide if a Personal Loan Is Right For You

If you are paying off credit card debt with a personal loan it is very easy to decide what option makes the most financial sense.  Once you have been provided with a loan interest rate you can compare your payments between the two options.  Credit cards typically have interest rates around 20%.  The TD Express Loan offers rates as low as 6.99%.  This can result in big savings.  Customers can use the TD Debt Calculator to determine their potential savings.

For customers who are looking to get a loan for other scenarios besides debt repayment, choosing a personal loan will be a based on urgency of needs.  Medical emergencies and necessary home improvements are other common needs for personal loan applicants.  These decisions should be based on your immediate needs.  More information can be found here about considerations when looking for a personal loan.

Final Thoughts On The TD Express Loan

The TD Bank Personal Loan is one of many options for personal loans and flexible lines of credit.  If you are a current TD customer the rate discount will be easy to take advantage of.  New TD customers will need to set up an account before they receive the 0.25% discount.  This loan also has no origination fees or application fees which consumers should never pay when getting a loan.  With this said, the best thing for consumers to do is shop around for the best repayment terms and interest rate.  If TD provides competitive rates for your needs than the TD Express Loan may be a great option.