Trustco Bank is among today’s best-performing banks with more than 145 offices across the nation, and a net worth of $4.6 Billion. Its first branch was established back in 1992. The bank specializes in different banking services that include home mortgages and personal loans. It has steadily built a loyal customer base by sticking to its time-tested banking strategies.
Trustco Bank Personal Loans
The bank offers personal loans that can be used for various purposes, including home improvement. The loan may be secured or unsecured. The bank will decide if a loan applicant qualifies for the loan based on his credit history.
Applicable interest rates vary, depending on the borrower’s income and credit rating. A secured personal loan for home improvements, for example, bears a low interest of 8.375%. An unsecured loan, on the other hand, is offered at a higher interest rate of around 12.875%
Loan Application Process
Existing account holders can avail of personal loans ranging from $1,000 to $25,000 with a maximum term of 4 years – under specific guidelines. Aside from having an account with the bank, a prospective borrower must have a good credit rating and must meet the income requirements.
Loan applicants must apply in person as the bank doesn’t entertain online applications. Although you may call to initiate the loan application process, you may be requested to visit the Trustco Bank branch nearest you to affix your signature on the paperwork. You can expect to receive feedback on your application within 48 hours, which can be considered commendable by industry standards.