pnc bank loan payoff
July 20, 2009 at 8:59 pm by admin
This article discusses PNC personal loans for those who are presently thinking about borrowing money. There are numerous PNC loans plans available but how do PNC personal loans stack up against other similar consumer loans products?
If you are in a situation where you need to apply for a personal loan but you have never taken one out before, the application process can be a little daunting. If however you are considering an amount to borrow, it may be worth taking some time to look at the personal loans offered by the PNC Bank and what they might offer a prospective applicant.
PNC Bank’s personal loans come in three varieties:
- The PNC unsecured personal installment loan
- The PNC secured personal installment loan
- and the PNC personal line of credit.
There are several factors that distinguish each of these three personal loan options from each other and if you are looking to benefit the most from the type of loan you apply for you need to understand the differences between them.
Secured and Unsecured Personal Loans Offered by PNC Bank
An secured loan is one that is backed up collateral. In many cases, you may find that you are borrowing against your home, but PNC is quite flexibile and you can borrow against assets like a car, your savings account, stocks and bonds, or CDs. PNC’s unsecured loan, on the other hand, is a loan that is going to be approved based solely on your credit history, credit score and a number of credit related factors.
The minimum amount that you can borrow for PNC secured or unsecured loans is $2,000. The maximum for a secured loan is $100,000, while the maximum for a PNC unsecured personal loan is $25. Both of these flavors of PNC Bank loan are payed via an installment plan, where you will pay the loan back through regular monthly installments (payments).
A personal line of credit from PNC Bank, on the other hand, is type of borrowing where you will be able to decide how much you want to borrow and when, up to a pre-approved credit limit. You will be able to borrow expressly when you require to do so, so long as you continue to make payments to either reduce your balance or settles the interest. PNC personal lines of credit are something that can be applied for without collateral.
There are a variety of different benefits that you can access when you have successfully applied for a PNC Bank personal loan. PNC personal loans thwill generally help you to manage your monthly spend by paying a regular amount every month, which is ideal if you are running a tight budget.
You will also find that PNC personal loans do not apply a financial penalty against you if you decide to pay your loan early. You may also find that PNC Bank’s unsecured loan may have terms that are more lenient than you will find elsewhere.