How do you pay off a PNC bank loan?


Quick Answer

As of 2015, PNC bank loan holders are able to pay off their bank loan through a variety of methods, including through online bill pay and electronic funds transfers. Loan holders can also opt to use PNC's SpeedPay option or send their payment by mail.

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Full Answer

PNC bank loan holders can use the SpeedPay option to make quick payments using a bank account located at either PNC or other banks. Payments made using this method are registered on the same day, if they were made prior to 8 p.m. Eastern Time and generally incur a $7 transaction fee for payments from non-PNC bank accounts. Loan holders can also arrange for an electronic funds transfer to their loan account and schedule it to recur monthly.

PNC provides online banking and bill pay service, allowing loan holders to set up a one-time or recurring monthly payment associated with their PNC bank accounts. PNC also provides the options for its bank loan holders to arrange bi-weekly payments. This payment method reduces the amount of total interest paid on the loan while paying off the principal loan at a faster rate. Alternatively, PNC also accepts payments through mail and requires payments to include the sender's loan number on payment documents.

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