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Huntington National Bank is a mid-sized, regional bank based in Columbus, Ohio. They serve customers in Ohio, West Virginia, Indiana, Illinois, Michigan, Kentucky, Wisconsin, and Pennsylvania. They are currently ranked as 28th on the list of the biggest banks in the United States.
Huntington Bank offers a wide range of banking products including checking and savings accounts, CDs, mortgage loans, home equity loans, and personal loans.
Huntington Bank personal loans are a good option for debt consolidation, or for people hoping to pay off their credit card or medical bills, finance a home improvement or other personal project. Loan rates vary depending on the amount, the term, and the creditworthiness of the borrower.
In this review:
- How to Get a Huntington Bank Personal Loan
- Basic Information: Rates, Fees, & Loan Terms
- The Benefits
- The Downsides
- What to Look Out For
- Rates as low as 3.99% APR with AutoPay
- Apply in minutes and receive funding as soon as today
- Rate Beat Program where LightStream offers a rate 0.10 percentage points lower than that offered by a competing lender
Getting a Huntington Bank Personal Loan
Huntington Bank offers unsecured personal loans, which means borrowers don’t have to put up any type of collateral. The bank will look at a borrower’s credit history and income to determine whether they will be able to repay their loan.
Huntington Bank doesn’t state their minimum credit requirements, but a borrower’s credit history will be a factor determining their eligibility. If you don’t have a good credit score, you can submit your loan application with a cosigner to qualify for a better rate.
You can apply for a personal loan over the phone, in person, or on Huntington Bank’s website. The application process is usually fairly quick, though it may take longer if you’re applying with a cosigner because the bank will need additional information.
Huntington Bank doesn’t list as much information about their loans as many of its competitors do. Here is the information that is available:
- Rates: There are no loan rates offered on Huntington Bank’s website, though they claim to offer competitive fixed rates. You’ll have to contact them to see what rate you qualify for.
- Loan Terms: Three- or four-year terms are available.
- Fees: There are no application or prepayment fees.
- Limits: This information is not listed on Huntington Bank’s website.
Benefits of Huntington Bank
- Quick Application Process: Getting started with Huntington Bank is fairly easy. You can apply on their website in just 10 minutes and most customers find out whether or not they are approved fairly quickly. Also, the bank never charges any application or prepayment fees.
- Interest Rate Discounts Available: Huntington Bank doesn’t list their interest rates on their website. However, they do offer a discount to customers who enroll in autopay, and for current customers who already have a Huntington Bank checking account.
- Flexible Repayment Options: You can pay your loan payments on a weekly or bi-weekly basis. This can help you pay off your loan more quickly and pay less in interest.
- Exceptional Customer Service: Many customers appreciate the bank’s exceptional customer service. Customer support is available 24/7 by phone and they have over 600 branch locations in the Ohio Valley area.
- Manage Loan Online: You can also manage your loan online through Huntington Bank’s customer portal. You can check your loan balance and track your payment history. You can also make extra payments by transferring money from your checking account.
- Option to Delay & Skip Payments: Borrowers are also given some leeway when repaying their loan. Huntington Bank will let you delay your first loan payment for up to 60 days. And they will let you skip a payment one time without charging any additional fees.
Downsides to Huntington Bank Personal Loans
- Limited Availability: The biggest downside to Huntington Bank is that they are only available in seven states. These states include Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia. If you’re not located within these states, LightStream is an online lender that can be a good option for those with excellent credit.
- Rates Not Listed on Site: Because they offer little information on their website, you’ll have to contact Huntington Bank to find out what kind of interest rate you could qualify for. This could make it harder to comparison shop with other lenders.
If you’re located in one of the seven states they serve and are looking to take out a personal loan, Huntington Bank could be a great choice for you. Though they don’t offer much information on their website, Huntington Bank does claim to offer competitive interest rates.
Their excellent customer service and flexible repayment options could make Huntington Bank a great option for a borrower. Just make sure you find out what kind of rate you will qualify for and compare that to other lenders before making a final commitment.
Here are some reasons to consider Huntington Bank:
- Competitive loan rates
- Loan discounts available
- Flexible payment options
- Pay your loan off more quickly with weekly or bi-weekly payments
- Skip a payment one time with no charges
- Online loan management
- Great customer service
Things to watch out for:
- Branch locations limited to seven states
- You will need to open a checking account
- You need to contact the bank to find out current loan rates
Huntington Bank also offers secured loans in the form of auto loans. Unlike personal loans which don’t require any collateral, an auto loan is secured by the purchased car as collateral. For that reason, the bank’s auto loan rates are much lower than their personal loan rates.
Author: Jamie Johnson