Woodforest National Bank is one of the largest community banks in the United States. Being in the industry for almost 35 years it strives to offer the best customer services and products. With more than 740 branch locations, you are sure to find a Woodforest branch next door.
Woodforest National Bank aims at helping customers meet their financial needs. They have a variety of loan products such as home loan, home improvement loan, auto loan and personal loans. The bank’s personal loans are designed to help you achieve your goals.
A Survey of Reviews by Customers
Each and every bank has its own ups and downs. There are a mix of satisfied as well as dissatisfied customers in most of the banks. Let us look at what customers of Woodforest National Bank have to say about the service and quality of the bank’s products.
Woodforest National Bank and its Ups
- Professional Customer Service – The bank’s customer service department is the first point of contact between you and the bank. It has a team of professionals who handle all cases with utmost care. They guide you throughout the banking process and even make you read the policy document carefully.
- Personal Loans Available as Per Customer’s Request – Once your application for personal loan is approved, the funds are credited to your account immediately. You can then use your money for any of your personal use.
- Complete Privacy Guaranteed – The bank has its own privacy & security policy that ensures all the information provided by the customer is safe and secure. They make you fill up an application form before applying for personal loans that requires you to mention all your personal details. The bank does not share any such information with third party individuals.
Woodforest National Bank and its Downs
- Missed Payments are Charged Heavily – The bank charges a high fee if you miss out on paying even one single monthly payment. Also, the bank’s customer executives call you repeatedly to remind you about your dues that is expected to be paid on time.
- Charges Even for Closing an Account –Whether you have a personal loan account or a checking account with the bank, one customer claims that he was charged $25 for closing the account. Also, there was an extra $10 levied on his account for fund transfer.
- Charges Service Fees & Miscellaneous Fees–Customers claim that the bank charges service fees for even the smallest service rendered. For example, one customer was charged for credit card replacement without any prior intimation. The money was directly debited from his account, which was not right on part of the bank.
Personal loans come with a slightly higher interest rates as compared to other mainstream loans such as home loans or auto loans. It is important to get all your doubts cleared before filing for a loan application.
Also, it is important to have a good credit score and qualify for a low interest rate. Possibilities may be explored with options available for people with bad credit.
Woodforest National Bank’s customer service executives are friendly and helpful. They ensure that all terms and conditions are clearly stated so that you may take an informed decision.
Competitive banking products and client satisfaction have allowed Woodforest National Bank to meet all customer needs time and again. Personal loan is an easy way to obtain cash, but make sure you make all monthly payments on time.
Types of Loans at Woodforest National Bank
Borrowers have a range of loan options to choose from. They can even apply for a line of credit or take a business loan. Here is a complete list.
- Home Improvement Loan: These unsecured loans come at different APRs and rates depending on the loan amount. The APR is fixed at 5.99% for loans below $10,000 whereas it may go up to 9.99% for loans above $10,000. The rates also vary depending on the borrower’s credit profile. Please note that these rates are subject to change and you must verify the same at the bank’s website.
- Home Equity Line of Credit: If you own a home, then you can consider a HELOC, which makes it easy to withdraw small amounts multiple times for a long period. Borrowers must provide outstanding balance and payment information on their mortgages. Also, they must be ready with tax and insurance documents when applying for the line of credit.
- Reli Unsecured Line of Credit: You need a checking account with the bank to become eligible for Reli Unsecured Line of Credit, which might be the best credit options for borrowers with short term credit needs. The cost of credit is very low but you must maintain deposit accounts with the bank to make payments.
- Reli Secured Line of Credit: Students and beginners can use this option to establish credit history or build credit. Borrowers must link this credit line with Woodforest deposit account and enable automatic payment. The rate of interest is fixed with Reli Secured Line of Credit.
- Automobile Loan: The bank finances for a new or used car or truck also. Borrowers need to contact a customer service representative to apply or fill out a form online. It is a fixed-rate loan and offers flexible terms but borrowers are advised to research available options and compare with other lenders before proceeding with application.
- Mortgage: Residential mortgages are offered in co-operation with Quicken Loans. Borrowers can begin the application process online or via mobile apps.
- Small Business Loan: Among the options available for business owners include Term Loans, Owner-Occupied Real Estate and Business Auto Loans. All these loans are secured in nature but offers great flexibility in rates and terms.
- Small Business Line of Credit: Not many lenders would offer quite a range of small business line of credit. Choose from among Business Reli Unsecured Line of Credit, Secured Business Reli Line of Credit and Business Revolving Line of Credit to suit your business financing needs.