Is a TD Bank personal loan the best one for you?

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Alexandre Desoutter updated on 17 November 2021

Personal loans are a popular and versatile form of credit. They are great tools for consolidating debt, buying a used car, paying off a credit card, or financing a home improvement project or major expense. For well-qualified buyers, they can be an inexpensive way of accessing credit.

You still need to choose the right lender for you. Are you considering getting a personal loan with TD Bank?

This guide will help you with everything you need to know. See TD's personal loan interest rates, fees, our review and much more.

Our review of TD Bank:

TD Bank is a commercial banking institution that offers a range of financial services in Canada. A TD Personal Loan is a convenient solution that allows you to borrow money for a specific need, like a renovation project, making a big purchase or consolidating your higher-interest debts. A personal loan from TD Bank is flexible with some great benefits.

Why a personal loan at TD Bank might be right for you:
Get the funds you need upfront
Borrow up to $50,000
Pick a fixed or variable rate
No fees to process your personal loan application
Loans available for a wide range of needs
Choose your payment frequency – weekly, bi-weekly, monthly or semi-monthly payments
Zero penalties if you pay off your loan early

Here is why a personal loan from TD Bank might not be right for you:
You can not complete the application online. You may need to talk to a TD Bank Loan expert at some point
There is no comprehensive information about loan terms on TD’s website
TD does not specify its eligibility requirements on its website
A high credit score required

What types of personal loans does TD Bank offer?

TD Bank has Lines of Credit that features 4 borrowing options. You can easily access these funds through your TD Access Card, cheques and EasyWeb Online banking.

Personal Line of Credit

  • A flexible way to get funds for your needs and goals
  • Credit limit - up to $50,000
  • Pick a fixed or variable rate
  • No loan application processing fees
  • Pay as little as the minimum monthly payment requirements according to the loan agreement

Student Line of Credit

  • Low-interest rate and interest-only payments while in school
  • Undergraduates can borrow up to $80,000 while graduate/professional students can get funds up to $325,000
  • Variable rates based on TD Prime Rate
  • No loan application processing fee
  • Monthly interest-only payments while in school

Investment Secured Line of Credit

  • Available for you if you have eligible investment and want a low rate
  • Funds up to 50% for equities and stocks
  • Get up to 100% for liquid secured - of the value of your eligible investments
  • Variable rates according to TD Prime Rate
  • Registration fee may be requested
  • Minimum payment - interest only

TD Home Equity FlexLine

  • Use equity value in your home to get a lower interest rate
  • The credit limit is based on your home value
  • Pick a fixed or variable rate
  • Set up fee applies
  • Minimum payment - interest only

Compare personal loan interest rates in seconds

Find the best interest rate

What rates does TD Bank offer on personal loans?

TD Bank offers both fixed and variable rates. TD Bank Personal Loan interest rates for fixed-rate loans range from 9% to 17%. TD Bank personal loan rates for variable rate loans range from the TD Prime Rate +4% to +12%.

When comparing personal loan offers, it is important to pick something that you can comfortably repay. While shorter loans offer lower interest rates, the monthly payments will be higher. Longer loans come at higher interest, but with lower monthly payments. Even if a longer loan costs more overall it may be more manageable.

The interest rates on personal loans vary based on many factors. Lenders review the profile and credit history of the borrower, the loan amount, the length of the loan and more.

Before choosing a personal loan with TD Bank, shop and compare rates and conditions with other lenders:

Our tool lets you anonymously compare personal loan interest rates!

Compare personal loan interest rates in seconds

Find the best interest rate

TD’s personal loan calculator:

You can get a quick estimate of your loan payments with Safe's personal loan calculator. Just enter the amount borrowed. Adjust the loan term and the interest rate to quickly get monthly payments and total interest paid.

There is a TD Bank Personal Loan calculator on TD’s website.

How do I apply for a TD Bank personal loan?

Before signing up for a TD Bank personal loan, shop around! Our comparison tool offers quotes from dozens of lenders in just seconds. Find the best terms and rates for your profile.

Compare personal loan interest rates in seconds

Find the best interest rate

You can apply for TD Personal Loan in three ways: apply online, book an appointment to meet a banking specialist at any branch or call banking specialists at 1-888-828-7233. You will be asked to provide:

  • Loan application purpose
  • Personal details
  • Information about assets, income and any existing loans
  • information about a cosigner, if required

Can I get a TD personal loan with bad credit?

Personal loans are available to many borrowers with a bad credit score. You will have to check with TD Bank because everyone's situation is different. They will review your financial statements, your employment history and your credit score. Having a co-signer or guarantor with a better credit score increases the chances of a successful loan application.

Good to know

Some lenders exist to help borrows with poor credit scores, so even if TD Bank rejects your application, you have options for a personal loan.

Before signing with TD Bank, compare current personal loan interest rates and offers.

TD Bank personal loans - contact information, phone number and client space

You can get in touch with TD Bank through:
Phone numbers: 1-888-828-7233, 1-877-390-5197
Client space login

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Alexandre Desoutter

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.