Bank of America is not the only major bank with no personal loan offers, but there are still plenty of banks that do have them. You can easily compare personal loans on WalletHub. Bank of America Personal Loan Alternative #2: Credit Unions. Unlike banks, credit unions are not-for-profit institutions.

Banking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Bank of America is one of the largest banks in the United States but it does not offer personal loans.. It does, however, offer a wide variety of other loans for specific purposes -- all of which ...

Short answer: No. (At least of now - January 2020.) Bank of America currently only offers loans for specific uses, such as business, auto loans, and mortgages. They also offer credit cards, which may be an option if you’re looking to borrow a small amount of money, but personal loans and credit cards aren’t the same thing and, in most cases ...

Bank of America Personal Loans. It is an insecure deal for the lender because of the amount of risks that the lender has to deal with. As the result, the lender then would set much higher interest rates on the loan, and also sometimes charge another additional fee. The unsecured loan is an easy way to get fast loan with less paperwork hassles.