What you need to know about this loan:
- Loan Amounts Offered:
From $2,000 to $100,000 - Loan Terms (monthly):
From 12 to 120 months - Payment methods:
Automatic debit, online payment, mobile app, in-branch payment - Interest rate:
7.24% – 9.49% APR
Pros
- Competitive interest rates: Fixed APR starting at just 7.24%.
- No minimum credit score required: Great option to build or rebuild your credit.
- Fast approval process: Quick and professional loan decisions.
- Secured by your savings: Use an M&T CD or Savings Account as collateral.
- Relationship discounts available: Better rates if you have a qualifying M&T checking account.
Cons
- Requires equal amount in savings or CD: You must have at least 100% of the loan value in your M&T account.
- Availability limited to certain states: Only offered in CT, DE, NY, NJ, PA, and a few other U.S. states.
Why Choose M&T Bank for Your Loan?
Getting a loan from M&T Bank can offer several benefits compared to personal loans from Bank of America, Chase, Wells Fargo, PNC Bank, and Capital One.
The M&T Cash-Secured Loan allows repayment terms of up to 10 years, which is longer than the standard 60-month cap seen with lenders like Capital One.
M&T Bank does not require a minimum credit score, making it more accessible than Chase, which evaluates applicants strictly based on credit history.
Unlike Wells Fargo, which often requires physical collateral like a vehicle, M&T lets you secure the loan with your existing savings or CD account.
Approval is typically faster than at PNC, and relationship-based rate discounts give M&T an edge over Bank of America, which doesn’t offer equivalent perks for existing customers.
How to Apply for Your Cash-Secured Loan
Applying is easy and takes just a few minutes. Click the button below to start your application securely and see your eligibility now.