M&T Bank Personal Loan Review September 2026

You bank at M&T, or there's a branch on your corner. Now you want to know whether it will lend you money for a kitchen remodel or a credit card consolidation.

M&T Bank does offer personal loans. The unsecured version lends $2,000 to $50,000 with no collateral, on fixed terms of one to seven years. You can apply in 12 states, all in the Northeast and Mid-Atlantic, plus the District of Columbia. You can use the loan for many things, including an emergency expense. Here are the top details to know about personal loans from M&T bank.

M&T Bank personal loan top features

Loan amounts. M&T lends $2,000 to $50,000, unsecured, with no collateral required. It also offers a secured personal loan using cash in your M&T savings account or Certificate of Deposit (CD) as collateral. 

Credit needed. M&T doesn't publish a minimum credit score for a personal loan. It determines your final APR from your credit profile. Your deposit relationship may count for something, too.

Rates and discounts. Fixed APRs of 6.99% to 15.69%. A relationship discount of 0.15% to 0.50% is available with an existing Power, Select, MyChoice Plus, or MyChoice Premium checking account. You can also open a MyChoice Plus or MyChoice Premium account when you apply. 

The size of the discount depends on your account type, and on whether you set up automatic payments from that account at booking. Home improvement loans may be eligible for 0.75% off the rate, which can't be combined with any other discount.

Fees. No application, origination, or prepayment penalty fees. Pay the loan off early and M&T charges you nothing extra. Late fees and returned payment fees may be charged when applicable. M&T doesn't publish the fee amounts.

Terms. One to seven years. For a term longer than five years, you need to borrow at least $15,000.

Approval speed. M&T could reach a decision in as little as 24 hours. Same-day approvals depend on factors including your credit score and history, the loan amount, and any existing M&T relationship. 

Hardship program. The M&T Loan Workout program can rewrite an existing M&T loan during extended financial hardship. The number to call if you’re struggling is 1-877-208-5495.

Where you can apply. Thirteen jurisdictions across the Northeast and Mid-Atlantic: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia, West Virginia, and Washington, DC.

Rate-check tool. M&T publishes a "Check Your Rate" calculator. It estimates a rate from the loan amount, term, and credit score you type in. M&T states the quoted rate is based on the information you provide, and that your actual rate depends on creditworthiness. M&T doesn't describe the tool as a way to prequalify for a loan without hurting your credit score. It’s just for getting a ballpark figure.

M&T Bank personal loan interest rates

M&T publishes fixed personal loan APRs of 6.99% to 15.69%.

APR is a broader measure of borrowing cost than the interest rate. It reflects the interest rate plus other charges you pay to get the loan, which is why an APR usually runs higher than the interest rate alone.

The advertised 6.99% minimum comes with four conditions, and you need all four:

• A term no longer than 36 months
• A loan amount of $30,000 to $39,999.99
• An M&T MyChoice Premium or Power Checking account, held already or opened when you apply
• Automatic payment deductions set up from any M&T checking account

You also need to meet the lender’s other requirements, including credit score.

The Federal Reserve puts the most common rate on 24-month personal loans at a commercial bank at 11.86%, measured in the first week of May 2026 (M&T is a commercial bank). Treat this number as a reference point; your mileage may vary.

Where M&T Bank can improve

Limited availability. M&T lends this loan in 12 states plus DC. If you live outside that footprint, you can't apply.

Transparency. M&T publishes no minimum credit score, and it says nothing about co-signers or joint applicants. There's also no soft-pull prequalification. The rate calculator runs on numbers you type in, so comparison shopping here means applying for the actual loan, which could involve a hard inquiry that damages your credit score. A personal loan can hurt your credit upfront.

M&T doesn't say how long funding takes, and it confirms that late and returned payment fees may apply without saying what they cost.

Reputation. M&T Bank scores low on the Better Business Bureau and Trustpilot websites. While this is typical for a large brick and mortar bank, there is room for improvement.

Qualifying for a M&T Bank personal loan

M&T offers this loan in 13 jurisdictions only: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia, West Virginia, and Washington, DC. If you don’t live here, you won’t qualify for a loan.

M&T states that all its loans and lines of credit are subject to credit approval. Additional terms may apply depending on the collateral type and the terms you choose.

Credit score and income requirements

M&T doesn't publish a minimum credit score for this loan. It states that your final APR is based on your credit profile and your deposit relationship.

Most lenders look at your credit score and reports, your income, your existing debts, the amount and length of the loan, and the interest rates permitted by state law. Lenders like M&T Bank generally don’t publish approval methodology.

M&T publishes no minimums for income, employment, or debt-to-income ratio, which is your monthly debt payments divided by your monthly income. You may be eligible with numbers that another lender would decline, and the website won’t confirm or deny.

How to apply for a M&T Bank loan

You have three ways to apply for a loan. Apply online at applynow.mtb.com, call a loan specialist at 1-800-724-3222, or book a branch appointment at schedule.mtb.com.

Before you apply, you can run M&T's "Check Your Rate" calculator. This is just a general estimate. M&T says your actual rate depends on creditworthiness.

M&T doesn't publish a soft-pull prequalification, meaning you must apply to know your approximate rate. M&T Bank’s rate calculator is a self-input estimator rather than a credit-based prequalification. Until M&T says otherwise, assume applying may involve a hard inquiry, which is likely to ding your credit score. When it comes to personal loans, it’s a good idea to do the research first, know your credit standing, and avoid applying until you feel pretty confident that you qualify.

Loan approval and funding from M&T Bank

M&T could reach a decision in as little as 24 hours. Same-day approvals depend on factors including your credit score and history, the loan amount, and any existing M&T relationship.

M&T charges no origination fee, so nothing is deducted from the money you receive. Across lenders, origination fees range from 0% to 12% of the loan amount, and a lender that charges one subtracts it before the funds reach you. 

M&T doesn't publish how long funding takes, or how it sends the money. Funding times vary by lender—often within a week of approval. 

M&T Bank: customer service and satisfaction

Call the personal loan team at 1-800-724-3222. General customer service is 1-800-724-2440. For the app or online banking, call 1-800-790-9130. That line runs Monday through Friday 8am to 9pm ET, and Saturday and Sunday 9am to 5pm ET.

The M&T Mobile Banking app supports biometric login. You can find a branch or ATM at locations.mtb.com, and book a branch appointment at schedule.mtb.com. A Spanish-language version of the site runs at mtb.com/es.

M&T Bank's licensing and track record

M&T is an FDIC member and an Equal Housing Lender. Its NMLS ID is #381076. M&T holds $219 billion in assets as of June 2026, and runs over 900 domestic banking offices.

The Better Business Bureau gives M&T an A+ rating and has accredited the bank since July 1, 1923.

Since 2020, Regulators have taken one public action against M&T, but not in the context of lending. In October 2020, the Federal Reserve issued a $546,000 civil money penalty. The violations were of the National Flood Insurance Act. The Reserve cited a pattern of not following federal flood rules.

What customers say

M&T scores 1.09 out of 5 on BBB across 351 BBB customer reviews. Major complaints include outdated software, payment errors, and hostile representatives. 

The bank scores 1.3 out of 5 on Trustpilot across 309 reviews on Trustpilot. Recent complaints include a customer who was locked out of his account on vacation, and another who was promised a refund that never arrived. 

When a M&T Bank personal loan might be the best choice

You already bank with M&T and live in one of the 13 areas it serves. 

You qualify for the loan you want, and the other lenders you’ve researched charge an origination fee.

You want to consolidate card balances. M&T's own published example runs a $10,000 loan over 60 months at a non-discounted APR of 8.99%, for $207.54 a month. Compare it against your card APRs first, and read more on debt consolidation loans.