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- If you're facing financial hardship due to the coronavirus, your bank may offer assistance by deferring personal loan payments and waiving late fees.
- We've listed 13 banks that are helping borrowers with personal loan payments, including Citi, Discover, HSBC, and Wells Fargo.
- If your bank isn't on this list, contact a representative - your institution may be willing to help.
- Read more personal finance coverage »
If you've lost work due to the coronavirus, you may be scrambling to make ends meet. You don't know whether you can afford to make payments on your personal loan - but if you don't, you could end up paying even more in late charges.
Thankfully, many banks are offering borrowers assistance during these difficult times. You may be able to defer personal loan payments without facing late fees.
Find out how your bank is willing to help. If your bank (or credit union) isn't on this list, call a representative to discuss your options.
13 banks that may help with personal loan payments during the coronavirus
BMO Harris
If you've lost income due to the coronavirus, you may be eligible to defer payments on your BMO Harris personal loan for up to three months.
Learn more about BMO Harris' response to COVID-19 here.
Citi
You can defer your Citi personal loan payments for up to two statement cycles, and you won't pay late fees. Citi will report your account as being current to credit bureau agencies even if you miss payments during this time.
Learn more about Citi's response to COVID-19 here.
Discover
You can call 1 (877) 256-2632 to speak with a Discover representative about your personal loan payment options.
Learn more about Discover's response to COVID-19.
Fifth Third Bank
You can defer your Fifth Third Bank personal loan payments for up to 90 days. You won't pay late fees, but interest will continue to accrue.
Learn more about Fifth Third Bank's response to COVID-19 here.
HSBC
You may be able to defer personal loan payments for up to 60 days, and you won't face late charges. The missed payments will be added to the end of the loan term, so your term will be extended.
Learn more about HSBC's response to COVID-19 here.
Old Point National Bank
Old Point National Bank is offering deferrals for personal loan payments. You can call 1 (757) 728-1290 to speak with a customer service representative.
Learn more about Old Point's response to COVID-19 here.
PNC Bank
You may be able to defer PNC personal loan payments for up to 90 days, and you won't pay late fees. To enroll in the deferment program, fill out the consumer loan hardship request form.
Learn more about PNC Bank's response to COVID-19 here.
Regions
To request payment assistance for a personal loan or another type of consumer loan, visit Regions' loan assistance page or call 1 (866) 298-1113.
Learn more about Regions' response to COVID-19 here.
TD Bank
TD Bank may allow you to defer personal loan payments without incurring late fees. You can call 1 (800) 742-2651 to speak with a representative.
Learn more about TD Bank's response to COVID-19 here.
Truist Bank (previously BB&T and SunTrust)
If you're facing financial hardship, you may be able to defer your personal loan payment for up to 90 days.
Learn more about Truist's response to COVID-19 here.
US Bank
US Bank mentions on its website that it's providing assistance with consumer loans, but it doesn't go into detail. You can call 1 (855) 764-4617 to speak with a representative about your situation.
Learn more about US Bank's response to COVID-19 here.
Webster Bank
Webster Bank is offering personal loan payment assistance on a case-by-case basis.
Learn more about Webster's response to COVID-19 here.
Wells Fargo
Wells Fargo is offering personal loan payment deferrals with no late fees. You can also contact Wells Fargo to discuss other assistance options.
Learn more about Wells Fargo's response to COVID-19 here.
- Read more on managing your money in this tumultuous time:
- 3 options for people struggling to pay their mortgage during the global health crisis
- 4 reasons to get disability insurance, even if you don't think you need it
- If you've been financially impacted by the coronavirus, you may be able to pause payments on these 8 bills
- How to get a stimulus check from the US government, which could pay up to $1,200 if you qualify
- In response to the coronavirus, credit card issuers like Amex and Capital One are letting customers skip payments without interest and more
Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email covidtips@businessinsider.com and tell us your story.
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