Frequently Asked Questions

General Questions/Info

Can I use a personal loan to pay off my credit card debt?

How much can I apply for?

What rates do you offer?

Can I pay off my loan early?

Do I need to submit collateral for a personal loan?

When will I receive my funds?

Do you charge an origination fee?

Do I need to become a member to apply for a loan?

Do I need to become a PenFed member to get my loan?

Application Info

Will checking my rate affect my credit score?

How will you verify my income?

How will you verify my identity?

Where do I upload my supporting documentation?

Can I apply with a co-borrower?

What are the different ways I can receive my loan funds?

When will I receive my loan proceeds?


Where do I send my payment?

Can I customize my monthly payment?

Is there a penalty for paying late?

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