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Truist personal loans: 2024 review

Updated on May 13, 2024

At a glance

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Check rate with Bankrate
Rating: 4.5 stars out of 5
Bankrate Score
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Rating: 4.7 stars out of 5
Rating: 4.8 stars out of 5
Customer Experience
Rating: 4.7 stars out of 5
Rating: 4.2 stars out of 5

About Bankrate Score

Bankrate’s take: Truist offers personal loans with lower maximum APRs than many lenders. Customers who prefer to keep all of their financial products in one place can choose among traditional banking products including checking, savings and credit card accounts. 

Lender Details


Loan amount

$3,500 and up


APR from


Clock Wait

Term lengths

24 to 60 months

What's new with Truist?

In a press release on April 29, 2024, Truist announced the launch of a financial education program focused on teaching money skills to high school and college students. The Truist Life, Money and Choices program is designed to give students the resources to learn financial concepts for free through partners within the communities it serves. 

Truist is best for low APR personal loans from a bank

Truist is a full-service financial service company headquartered in Charlotte, North Carolina that offers low annual percentage rate (APR) personal loans. They also offer a broad variety of financial services and products ranging from deposit accounts to investing and retirement to insurance. With a maximum APR below 18 percent, borrowers may enjoy a lower personal loan payment than they’d find at other banks that offer personal loans. 

Truist personal loan purposes

Truist recommends its personal loans to help pay for home improvements, large purchases or to consolidate debt. The website doesn’t list any specific limitations. With rates capped at 17.39 percent, Truist personal loans may be a cheaper alternative to credit cards

An added bonus: Truist charges no origination fee. That puts more funds in your pocket than other lenders that charge origination fees of up to 12 percent.

Where Truist stands out

  • Low max APR: Many bank personal loan lenders charge rates above 19 percent, while Truist caps its APR at 17.39 percent. 
  • No fees. You’ll take home more of the money you borrow from a Truist personal loan since it doesn’t charge a personal loan origination fee. 
  • Same-day funding possible. You may be able to get your funds the day you apply, if you qualify and provide needed documents quickly. 

Where Truist falls short

  • No qualifying information on the website: It’s hard to judge whether you will qualify for a Truist personal loan without applying. Requirements aren’t disclosed on its website. 
  • Limited locations: Truist only does business in 17 U.S. states and the District of Columbia. 
  • High loan amount minimum:  If you need to borrow less than $3,500 you’ll need to choose a different personal loan company.

Truist customer experience

Customer support

Phone customer service is available Monday through Friday from 8 a.m. to 8 p.m. ET, and Saturday from 8 a.m. to 5 p.m. ET.  Phone support is closed on Sundays. Automated assistance is available 24 hours a day. Customers can also choose in person service at a Truist branch in 17 U.S. states and the District of Columbia. 

Digital experience

Truist’s website makes it easy to find details about their loans and calculate estimated payments.The App Store shows Truist offers a phone app, but it does not support personal loan management. 

What people are saying about Truist 

While customers discuss Truist on Trustpilot and Reddit, there were no reviews specific to personal loans. The majority of reviews were negative, mostly citing confusion over the transition of accounts from SunTrust to Truist following a merger. 

How this lender compares

Rating: 4.5 stars out of 5
Bankrate Score
APR from
Loan Amount
$3,500 and up
Term Length
24 to 60 months
Min Credit Score
Not disclosed
Rating: 4.7 stars out of 5
Bankrate Score
APR from
Loan Amount
$600 to $50,000
Term Length
Up to 60 months
Min Credit Score
Rating: 4.7 stars out of 5
Bankrate Score
APR from
7.49%-25.49% *with AutoPay
Loan Amount
Term Length
24 to 84 months
Min Credit Score

Truist vs. PenFed

Truist offers slightly lower maximum APRs than PenFed which could save you a few dollars on your monthly payment. You also don’t have to bank with Truist to get a personal loan, while you’ll have to join PenFed since it’s a credit union. 

PenFed lists a maximum loan amount of $50,000, while it’s unclear how much Truist is willing to lend. PenFed also covers phone customer service seven days a week, while Truist is closed on Sundays.

Read a full review about PenFed

Truist vs. LightStream

Truist is better if you need a smaller loan amount, offering loan amounts as low as $3,500 compared to LightStreams $5,000 minimum. You could end up with a higher rate at LightStream considering their APR cap is 25.49 percent, whereas Truist maxes out at 17.39 percent.

You have much more borrowing power with LightStream with loan amounts as high as $100,000.  You can also stretch your payment period out to 84 months, giving you a lower payment than the 60-month maximum Truist offers. 

Read a full review about LightStream

Do you qualify for a Truist personal loan? 

Truist requires standard information like proof of your income, identification, address and credit score to approve your loan. They may be able to fund your loan on the same day you apply. 

However, you’ll want to check your zip code to make sure there’s a Truist branch in your area. They only do business in 17 states and the District of Columbia. 

How to apply for a personal loan with Truist

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How Bankrate rates Truist 

Overall Score 4.5 Explanation
Availability 4.5 Funds may be available the same day as application.
Affordability 4.8 Minimum and maximum APRs are lower than many other personal loan lenders.
Customer Experience 4.7 Six-day-a-week phone support is available.
Transparency 4.2 Very few qualification requirements are provided, but you can prequalify.


Bankrate's trusted personal loans industry expertise


years in business


lenders reviewed


loan features weighed


data points collected

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.