Human Systems Service Center 800-716-2455, Option 1
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Benefits@BBandT.com

Loans

The amount you may borrow from your BB&T Corporation 401(k) Savings Plan (Plan) as a loan is limited by rules under the tax law. In general, all loans will be limited to the lesser of:

  • $50,000 reduced by your highest outstanding balance of loans from the Plan during the 1-year period ending on the day before the loan is made (for example, if you take a $30,000 loan this year and pay it off, next year your maximum would be a $20,000 loan)

  • 50% of your account balance

The minimum loan amount is $1,000, and the interest rate will be BB&T prime rate plus 1%. Your account will be charged a $100 administrative fee per loan. You may only take one loan per plan year and may only have one outstanding loan at a time. Generally, loans must be repaid through payroll deductions with after-tax dollars over a period of 1 to 5 years.

Loan requests are paperless, so you do not need to complete any forms. Loans are processed by using either:

  • PlanTrac, the BB&T Corporation 401(k) Savings Plan website

  • The automated phone system 800-228-8076

No personal or confidential associate information is contained within BBTBenefits.com.
Information contained within BBTBenefits.com applies to eligible associates residing in the United States, unless otherwise specified.


Not all subsidiaries and affiliates of BB&T Corporation participate in the benefit programs and policies presented within BBTBenefits.com

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