You can avail of a personal loan from TD bank for up to $50,000. You can use the money for anything you want and get it when you want it. TD bank allows you to pay the loan monthly at fixed installments that suit your budget.
Benefits of a TD Bank Personal Loan
Following are some of the main benefits of availing of a personal loan from TD Bank that make it among the best options on the lending market:
- Upfront Funds – You quickly gain access to funds that you can use for investments, home renovations, and unexpected expenses, among others.
- High Loan Amount – You can take out a personal loan of up to $50,000.
- Flexible Payment Schedule – The bank will help you create the right repayment schedule for your particular needs and situation.
- Budget-Friendly Payments – You can conveniently repay your loan with a payment schedule tailored for you.
- Interest Rate Options – You can decide which between a variable or fixed interest rate will work best for you.
Variable vs. Fixed Interest Rates
- Fixed Rate – A fixed rate interest remains the same for the duration of your loan term. This is a good option if you prefer pre-set payments, and need to know when exactly you will be able to pay off your loan.
- Variable Rate – With a variable interest rate, changes in TD prime rates will affect the applicable interest rate on your loan. This is a good option if you believe that interest rates will decrease over time. When current interest rates are lower, a bigger portion than usual of your regular payments will be applied to your principal. This way, you can pay your loan off within a shorter period of time.