Online Bank Info

Online Bank Info

Comerica Bank Personal Loans

You need to contact Comerica Bank customer service by phone or visit a local branch to know if you can obtain a personal loan. The customer service phone number is 800-266-3742 for Eastern Zone, 800-925-2160 for Central Zone, and 800-522-2265 for Mountain/Pacific Zone.

The bank having presence in Texas, Michigan, Arizona, California and Florida may not offer all personal banking services in all its branches. The bank doesn’t seem to offer online help anymore, leading many to think that it has ceased to offer personal financing.

The borrowing options at Comerica Bank are broadly grouped into home loans and personal loans. While the subcategories under home loans are all examples of secured loans, the options under the bank’s personal financing category, which are personal loans and student loans, are instances of unsecured loans.

How to Apply for Personal Loans at Comerica Bank?

Ensure that the Comerica Bank branch in your neighborhood offers personal loans. If you have a bank account with the bank, you may find it easy to apply and get approved.

On the other hand, a borrower with no prior relationship with the bank may need a lot of documentation to prove his or her eligibility for the loan. Do remember, an unsecured personal loan from a bank is almost impossible if you have no credit or no income or both.

The documents to produce

Note that a personal loan application at Comerica Bank can impact your credit score. The bank must pull a copy of your credit report to make credit decision. Besides, it will ask you a number of documents, which typically includes proofs of your job, income and contact details.

If you are salaried person, you may be asked to submit paystubs or bank statements. Others may need to provide tax documents as a proof of their income. Your credit report, however, the most important document that will eventually let the bank decide whether or not you qualify for the loan.

Alternatives to Comerica Bank Personal Loans

Comerica Bank personal loans are good for any use you might think. Pay for college fees, buy your first car, start your own business, get the money necessary to put down for a mortgage, take up a home improvement project, go on a holiday or plan a second honeymoon, pay for your medical bills, or meet the cost of a wedding ceremony – you will be spoilt for choices.

However, it is always a good idea to compare personal loan interest rates from several different lenders. Do consider credit unions and peer-to-peer lenders when comparing the interest rates and other features of personal financing. If you live in an area where Comerica Bank has no branch, then you will greatly benefit from the services offered by a credit union, local bank, peer-to-peer lender, and online personal loan providers.

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