Navy Federal Personal Loan Review: Wide Range of Personal Loans for Members
Review
Updated
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Navy Federal Credit Union is one of the largest credit unions in the country with over 13 million members. Navy Federal is a member-owned and not-for-profit credit union exclusively serving the military, veterans, and their families. The credit union offers a wide range of banking products, including various types of personal loans. In this in-depth expert review, we'll cover the details you need to know to decide if a Navy Federal personal loan is right for you.
Great for: Same day funding
NFCU are experts at working with veterans and understand some of those challenges that face many families at discharge or retirement. NFCU not only offers competitive rates, but has a low minimum loan amount and a wide variety of loans for different purposes.
Get the best rates and terms to fit your needs. Here are a few loans we'd like to highlight, including our award winners.
| Lender | APR Range | Loan Amount | Min. Credit Score | Next Steps |
|---|---|---|---|---|
Apply Now for Discover Personal Loan
Powered by Credible
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
7.99% - 24.99%
|
$2,500 - $40,000
|
660
|
Apply Now for Discover Personal Loan
Powered by Credible |
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
8.99% - 19.49%**
|
$2,000 - $30,000
|
740
|
|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
6.70% - 35.99%³
|
$1,000 - $50,000¹
|
300
|
This personal loan is a good fit for: Navy Federal Credit Union members who have fair credit and want access to a wide range of personal loans.
Wide range of personal loan types, amounts, and payment terms: Members can borrow as little as $250 or up to $50,000 for an unsecured personal loan or debt consolidation loan with repayment terms of up to 60 months.
Home improvement and secured personal loans have longer terms. Repayment terms can range from 36 to 180 months depending on the type and amount of loan.
No origination or prepayment fees: An origination fee is a one-time fee you pay upfront as a cost for processing a loan. The fee can vary depending on the amount of the loan, and lenders will usually deduct it from your loan proceeds. Prepayment fees are what lenders charge if you pay off your loan early. NFCU does not charge these fees.
Same-day funding for most loans: In most cases with Navy Federal, you'll get your money the same day you apply.
Competitive APR and maximum cap: The APR is based on the creditworthiness of the borrower. Members with bad to fair credit will benefit from the maximum cap since some financial institutions charge nearly double NFCU's rate.
Only Navy Federal Credit Union members qualify: Membership is not open to the public. Navy Federal membership is limited to those in the military, veterans, family members, and Department of Defense civilian employees and contractors.
No prequalification tools: Many financial institutions allow you to check your interest rate and loan terms by prequalifying online and with a soft credit check. To find out which APR you qualify for, you will have to apply for a Navy Federal personal loan, which will result in a hard credit check. This can potentially lower your credit score.
Maximum loan limit at $50,000: The maximum you can borrow for a Navy Federal personal loan is $50,000. Many lenders offer up to $100,000 in loan amounts.
Late fee of $29: The credit union charges a late fee of $29. However, that’s a fairly typical late fee on a personal loan.
Navy Federal was started in 1933 by seven Navy Department employees. Since then, it has grown to include officers and enlisted men and women of all branches of the military, veterans, and DoD employees and their family members. There are 350 branches worldwide, with more than half located near military installations. It has over 30,000 free ATMs.
To become eligible for membership, you must be a service member in any military branch, a retiree, veteran, or an immediate family member. Department of Defense civilian employees and contractors also qualify for membership.
A Navy Federal personal loan can be a great way to consolidate debt, finance home improvements, or cover unexpected expenses. Navy Federal offers multiple types of personal loans. As a credit union serving the military and their family members, it typically offers better rates than many banks.
Navy Federal personal loans have no origination or prepayment fees, and in many cases it offers same-day funding. Navy Federal offers different terms depending on the type of personal loan. Here are the loans, features, and the current APR of the Navy Federal personal loans.
A personal expense loan can be used for unplanned and planned expenses such as auto repairs, moving and relocating, vacations, and other major purchases. Rates are based on creditworthiness, so your rate may change.
Loan amount: $250 to $50,000
Rates are tiered for the personal expense loan based on different timelines:
A home improvement loan can be used to finance your home improvement or repair projects. Unlike a mortgage loan or a HELOC, there is no collateral required with this loan.
Loan amount: $25,000 minimum loan amount for 61 to 84 months and $30,000 minimum loan amount for 85 to 180 months
Rates are tiered for the home improvement loan based on different timelines:
A debt consolidation loan can be used to simplify your finances by consolidating high-interest debt at a competitive, fixed rate.
Loan amount: $250 to $50,000
Rates are tiered for the debt consolidation loan based on different timelines:
A savings secured loan is a personal loan that is secured by the money in your Navy Federal savings account. You can secure financing without dipping into your savings, and at a lower rate than an unsecured personal loan. Your savings account continues to earn interest and you get access to it as soon as the loan is paid off.
Navy Federal offers extended terms of 61 to 180 months for certain loan purposes, but they're subject to certain loan amount minimums. You can get an extended term loan for home improvements and the purchases of land, airplanes, fully self-contained recreational vehicles, and boats.
The following minimum loan amounts are required for extended term loans:
Rates are tiered for the savings secured loan based on different timelines:
A certificate secured loan is a personal loan that is secured by a Navy Federal CD. You can borrow 100% of your certificate's principal balance for different terms at a certain APR above the certificate's rate. The loan amount cannot exceed your CD's balance, and the loan term must be equal to or less than the term of the CD.
Tiered rates for the certificate secured loan:
Once you're a member, you can apply for a loan by completing an application online or going into a physical branch. You will need to gather documentation necessary to fill out the application.
To apply for a Navy Federal personal loan, here is a list of items needed as part of the application process. Navy Federal does not have the option for pre-approval.
Applications are online and it only takes a few minutes to process your application. After approval, you can electronically sign your application. Your funds will be deposited into your account either the same day or within 24 hours.
Navy Federal offers a wide range of personal loans for its members. While membership is limited, Navy Federal members receive exclusive benefits and support. Consider a Navy Federal personal loan if:
Navy Federal personal loans can be extremely versatile, allowing you to consolidate credit card debt, fund a home improvement project, or even pay for a wedding or vacation. However, NFCU does not allow personal loans to cover education expenses.
Yes, you will need to be a member of NFCU to borrow.
Yes, but it isn't a requirement. You may need to get a co-applicant if you have limited credit history and depending on the requested loan terms.
Yes. Navy Federal personal loan amounts start at $250 and go up to $50,000.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
*Upstart Loan Disclaimer
¹ Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
³ The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.60% and a 8.51% origination fee of $851, for an APR of 23.07%. In this example, the borrower will receive $9149 and will make 60 monthly payments of $258. APR is calculated based on 5-year rates offered in December 2024. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Citi® Personal Loan Disclosure
**Terms, conditions, and fees for accounts, products, programs and services are subject to change at any time. You must be at least 18 years of age (21 years of age in Puerto Rico). Co-applicants are not permitted. Existing Citi deposit and credit card customers who have been a Citi customer for less than 12 months are not eligible for a Citi® Personal Loan.
If you apply online, you must agree to receive the loan note and all other account disclosures provided with your loan origination in an electronic format and provide your signature electronically.
Rates as of 06-03-2025. Your APR may be as low as 8.99% or as high as 19.49% for the term of your loan. The lowest rate quoted assumes excellent credit, a loan term of 24 or 36 months, and includes a 0.5% APR discount for enrollment in automatic payments at the time of loan origination. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. Citi offers personal loans with a period of repayment between 12 and 60-month terms. For example, if you borrow $10,000 for 36 months at 15.99% APR, to repay your loan you will have to make 36 monthly payments of approximately $351.52.
Existing Citigold and Citi Priority customers will receive an additional 0.25% discount to the APR. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice.
To check for offers you may qualify for, Citi conducts a soft credit inquiry. If you are presented with an offer and choose to proceed with the application process, Citi will conduct a hard credit inquiry which may have an impact on your credit score.
Citi® Personal Loan proceeds cannot be used to pay for post-secondary education expenses or for business purposes. Credit cards issued by Citibank, N.A. or its affiliates, as well as Checking Plus and Ready Credit accounts, are not eligible for debt consolidation, and Citibank will not issue payoff checks for these accounts. If you are unsure of the issuer on the account, please visit https://www.citi.com/affiliatesproducts for a list of Citi products and affiliates.
If you are approved for a personal loan with Citi, you can get your funds the same day with a Citi deposit account, or up to 2 business days for a non-Citi account when using direct deposit. Or, you can select to receive a check by mail in approximately 5 business days.
Personal loans are made available by Citibank, N.A., Equal Housing lender
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
*Upstart Loan Disclaimer
¹ Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
³ The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.60% and a 8.51% origination fee of $851, for an APR of 23.07%. In this example, the borrower will receive $9149 and will make 60 monthly payments of $258. APR is calculated based on 5-year rates offered in December 2024. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Citi® Personal Loan Disclosure
**Terms, conditions, and fees for accounts, products, programs and services are subject to change at any time. You must be at least 18 years of age (21 years of age in Puerto Rico). Co-applicants are not permitted. Existing Citi deposit and credit card customers who have been a Citi customer for less than 12 months are not eligible for a Citi® Personal Loan.
If you apply online, you must agree to receive the loan note and all other account disclosures provided with your loan origination in an electronic format and provide your signature electronically.
Rates as of 06-03-2025. Your APR may be as low as 8.99% or as high as 19.49% for the term of your loan. The lowest rate quoted assumes excellent credit, a loan term of 24 or 36 months, and includes a 0.5% APR discount for enrollment in automatic payments at the time of loan origination. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. Citi offers personal loans with a period of repayment between 12 and 60-month terms. For example, if you borrow $10,000 for 36 months at 15.99% APR, to repay your loan you will have to make 36 monthly payments of approximately $351.52.
Existing Citigold and Citi Priority customers will receive an additional 0.25% discount to the APR. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice.
To check for offers you may qualify for, Citi conducts a soft credit inquiry. If you are presented with an offer and choose to proceed with the application process, Citi will conduct a hard credit inquiry which may have an impact on your credit score.
Citi® Personal Loan proceeds cannot be used to pay for post-secondary education expenses or for business purposes. Credit cards issued by Citibank, N.A. or its affiliates, as well as Checking Plus and Ready Credit accounts, are not eligible for debt consolidation, and Citibank will not issue payoff checks for these accounts. If you are unsure of the issuer on the account, please visit https://www.citi.com/affiliatesproducts for a list of Citi products and affiliates.
If you are approved for a personal loan with Citi, you can get your funds the same day with a Citi deposit account, or up to 2 business days for a non-Citi account when using direct deposit. Or, you can select to receive a check by mail in approximately 5 business days.
Personal loans are made available by Citibank, N.A., Equal Housing lender
