M&T Bank Personal Loan Review (2025)
If you’re considering a personal loan, M&T Bank offers a variety of options worth exploring. In this review, we break down everything you need to know about M&T Bank’s personal loans, including loan amounts, APR ranges, approval criteria, and whether it’s the right lender for you.
M&T Bank Personal Loan Overview
Loan Types:
- Unsecured Personal Loans
- Cash-Secured Loans (secured by an M&T savings account or CD)
Loan Amounts:
- Borrow between $2,000 and $50,000.
Loan Terms:
- Repayment terms range from 1 to 7 years.
- Important: Terms longer than 60 months typically require a loan balance of $15,000 or more.
- Tip: Shorter loan terms (under 5 years) can help you save significantly on interest over time.
M&T Bank Personal Loan Rates (2025)
Unsecured Loan APRs:
- 7.74% to 13.94%
Cash-Secured Loan APRs:
- 7.24% to 9.49%
These rates are highly competitive compared to national averages, especially for borrowers with strong credit profiles.
APR Discounts Available:
- 0.15% to 0.50% discount for:
- Having a qualifying M&T Bank account
- Setting up autopay from an M&T Bank checking account
- Note: You must qualify for these discounts before signing your loan agreement — no changes are allowed afterward.
M&T Bank Personal Loan Approval Requirements
While M&T Bank offers attractive rates, approval typically favors borrowers with good to excellent credit. However, they consider multiple factors beyond just your credit score, including:
- Verified income and type of employment
- Debt-to-income (DTI) ratio
- Recent payment history
- Existing relationship with M&T Bank
- Overall financial health
Cash-Secured Loans:
- Credit score is less critical when securing the loan with cash assets at M&T Bank.
Fees to Know
- No application or origination fees
- Late payment and NSF (Non-Sufficient Funds) fees do apply (exact amounts not publicly disclosed — always review your loan agreement).
How to Apply for an M&T Bank Personal Loan
Eligibility:
You must live in one of the following states:
Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia, West Virginia.
Application Requirements:
- Valid Social Security Number
- Income and employment verification
- Active email address
- List of assets and liabilities
Funding Speed:
- Existing M&T Bank customers with excellent credit may be approved same day.
- Most applicants receive a decision within 24 hours.
- Funds are available quickly if deposited into an M&T Bank account. Transfers to external accounts may take 1–3 business days.
Should You Choose M&T Bank for a Personal Loan?
If you already bank with M&T and have strong credit, you could secure one of the best rates available. M&T Bank offers a full range of borrowing products, including:
- Unsecured loans
- Cash-secured loans
- Home Equity Lines of Credit (HELOCs)
- Overdraft lines of credit
- Student loans
- Recreational vehicle (RV) loans
However, you should always shop around before committing to any loan.
Every lender uses a different approval algorithm, and your financial profile might get a better offer elsewhere.
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At The Yukon Project, we’ve simplified the loan shopping process.
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