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M&T Bank Personal Loan Calculator, Interest Rates & Overview

Updated 6 March 2024

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M&T Bank personal loans overview

M&T Bank has competitive personal loans you can choose from whether you need to fund major life events, emergencies, debt consolidation, or more. You can finance big expenses at low interest rates and flexible repayment terms. Plus, M&T loans come with rate discounts, fast approval, and fewer fees.

Want to see what an M&T personal loan will cost? Try the M&T Bank personal loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

Key features

Minimum loan amount: $2,000.
Maximum loan amount: Up to $100,000.
Interest rates: As low as 7.24% APR.
Loan terms: Up to 120 months.
Loan fees: No application or origination fee.
Discounts: Rate discounts from automatic payments and checking accounts.

M&T Bank personal loan options

Unsecured personal loans

If you need funds without putting up your collateral, you can apply for M&T’s unsecured personal loan. Unsecured loans have rates ranging from 8.24% to 15.24% APR and terms of 1 to 7 years. Plus, you can borrow from $2,000 to $50,000.

Cash-secured loans

You can also apply for an M&T Bank cash-secured loan if you need a higher amount and longer term. With this, your loan is secured by cash deposits, like an M&T certificate of deposit or savings account. You can borrow from $2,000 up to $100,000. Then, APRs range from 7.24% to 9.49%, and repayment periods are between 12 to 120 months.

Loans Text: M&T personal loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

Change

Sorry, no results were found

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Wells Fargo personal loans

Estimated Month Repayments

$606 Inclusive of fees

Interest Rate

5.74%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$3,000
to $10,000

Go to site

Checking and savings accounts and credit cards for your everyday business expenses and cash management.

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Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments

$848 Inclusive of fees

Interest Rate

29.90%
APR

Repayment Period

12 months
to 12 months

Loan Amounts

$1,000
to $20,000

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a M&T Bank personal loan

Eligibility criteria

MTB doesn’t specify the requirements, but you usually need to be:

18 years old or legal to obtain financing
A legal resident
Employed or have a dependable source of income

Remember that all loans are subject to credit approval. So, check your credit score to have insights into your eligibility. Plus, this can give you an idea if you need to improve your credit to get M&T Bank’s best interest rate and repayment term.

What you’ll need to have ready

Personal details

When you apply for personal financing with M&T Bank, you’ll be asked to provide personal information such as:

An email address
Your full name
Address
Social Security number
Employment information
Income details
U.S. citizenship status
A list of monthly expenses

Documents

You can apply for the loan directly on MTB’s website. During your application, you might need to supply additional documents or information. These may relate to your source of income, bank account details, and address history.

M&T offers both secured and unsecured loans. Secured personal loans require collateral, while unsecured personal loans don’t. Before applying, ensure you compare your choices and weigh your options. This way, you know which one matches your needs and circumstances.

Ways to apply for a M&T Bank personal loan

Apply online by clicking the GO TO SITE link in the table below
Visit a branch
Call 1-800-724-2440

Additional M&T personal loan details

Automatic payment: Available.

Loan approval times: As fast as 24 hours.

Rate discounts: 0.25% APR discount with autopay. 0.15% off with MyChoice Plus or Select checking accounts, or 0.25% off with M&T MyChoice Premium or Power checking accounts.

Repayment frequency: Monthly.

Late payment fees: Undisclosed.
Prepayment penalty: $0.

Co-borrowers allowed: Undisclosed.
Co-signers: Undisclosed.

Hardship program: Undisclosed.

Ways to repay: Online banking, over the phone, by mail, and in person.

PROS AND CONS

Pros

Competitive rates.
Flexible loan terms.
No application or origination fees.
Quick loan approval.
0.25% APR discount with autopay.
Up to 0.25% APR discount based on checking accounts.
No prepayment penalty.
Fast loan funding.
Convenient online application.
Borrow up to $100,000.

Cons

Only offered in CT, DE, ME, MD, MA, NH, NJ, NY, PA, VT, VA, DC, and WV.
Potential higher rates for borrowers with low credit scores.
Undisclosed late fees.

FREQUENTLY ASKED QUESTION

How can I contact M&T about my loan?

You can reach out to the bank at 1-800-724-2440.

How much interest rate does MTB charge on loans?

Unsecured personal loans have rates as low as 8.24% APR, while cash-secured loans start at 7.24% APR.

What is the maximum length of an M&T personal loan?

You may pick terms of up to 120 months depending on the type of personal loan you apply for.

How much can I borrow from M&T Bank?

For an unsecured personal loan, you can borrow up to $50,000. Meanwhile, the max loan for cash secured is $100,000.

How to apply for an M&T Bank loan?

You can apply online or visit one of the bank’s branches.

Are there early repayment fees on M&T personal loans?

There aren’t any prepayment penalties when you pay off your personal loan earlier.

How to pay my M&T Bank personal loan?

You can make a payment to your personal loan online, by phone, through mail, and in person.

M&T Bank Personal Loan Calculator, Interest Rates & Overview