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  1. Home
  2. Personal Loans
  3. Debt Consolidation
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Simplify and save

Consolidate and organize your debt with single fixed-rate payment.

Personal Loan Mailbox icon

Money when you need it

Check your Personal Loan rate

Already a member?

Sign in for a faster experience; we'll automatically fill in part of the application.

Log In

Not yet a member?

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Check Your Rate

Won’t affect your credit score¹

What is a PenFed Debt Consolidation Loan?

This is a personal loan that helps you combine your debt from different creditors, with the potential for substantial savings on interest. Lower your monthly payment and save on interest with a fixed term, fixed rate, and single fixed monthly payment.

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Unlock financial freedom with flexible loan terms

Loan amounts up to $50,000 for up to 5 years

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Rates starting at % APR*

Check your rate without affecting your credit score

no fees penalty icon

No hidden costs

Checkmark Icon

No origination fee

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No early payoff penalty

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No balance transfer fee**

Personal Loan Mailbox icon

Money when you need it

Check your Personal Loan rate

Already a member?

Sign in for a faster experience; we'll automatically fill in part of the application.

Log In

Not yet a member?

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Check Your Rate

Won’t affect your credit score1

kid playing with his dad on his back
money bag icon

Unlock financial freedom with flexible loan terms

Loan amounts up to $50,000 for up to 5 years

market icon

Rates starting at % APR*

Check your rate without affecting your credit score

no fees penalty icon

No hidden costs

Checkmark Icon

No origination fee

Checkmark Icon

No early payoff penalty

Checkmark Icon

No balance transfer fee**

Personal Loan Mailbox icon

Money when you need it

Check your Personal Loan rate

Already a member?

Sign in for a faster experience; we'll automatically fill in part of the application.

Log In

Not yet a member?

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Check Your Rate

Won’t affect your credit score1

A path to a brighter financial future

A PenFed Debt Consolidation Loan can help you manage and improve your finances.

Say their finances have improved since consolidating their debt

sixty-nine percent icon

Were able to consolidate all of their existing debt under one loan

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Are less worried about being able to afford debt payments

fifty percent icon

Are able to allocate more income toward savings

thirty-seven percent icon

Statistics are from January 2023 U.S. News and September 2023 Forbes surveys. U.S. News designated PenFed's Debt Consolidation Loan as a 2024 “Best Of.”

Enjoy an easy loan process

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1. Check your rate

Get pre-qualified in just a few minutes with no impact to your credit score1.

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2. Choose your offer

Select flexible loan terms that work for you.

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3. Finalize your loan

E-sign your loan documents.

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4. Get funded

Receive your money as soon as the next day!

Personal Loan Mailbox icon

Money when you need it

Check your Personal Loan rate

Already a member?

Sign in for a faster experience; we'll automatically fill in part of the application.

Log In

Not yet a member?

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Check Your Rate

Won’t affect your credit score1

Enjoy as easy loan process

a couple working on tablet and smiling
desktop icon

1. Check your rate

Get pre-qualified in just a few minutes with no impact to your credit score1.

document find icon

2. Choose your offer

Select flexible loan terms that work for you.

document sign icon

3. Finalize your loan

E-sign your loan documents.

double dollars icon

4. Get funded

Receive your money as soon as the next day!

Personal Loan Mailbox icon

Money when you need it

Check your Personal Loan rate

Already a member?

Sign in for a faster experience; we'll automatically fill in part of the application.

Log In

Not yet a member?

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Check Your Rate

Won’t affect your credit score1

FAQs

When you click “Check Your Rate,” PenFed does a soft credit pull to check the financing you’re eligible for — that does not affect your credit score. Once you accept an offer and rate, we will perform a hard credit pull to verify your information. When we perform a hard credit inquiry, your credit score may lower slightly for a short period of time.

When you consolidate your credit card debt with a personal loan, you have one single fixed low-rate payment. You will not incur any fees, as long as you make your monthly payments on time, while a balance transfer almost always does. 

With a credit card balance transfer, your rate may start out lower under a special promotion, but it will usually increase at some point, possibly increasing your minimum payment as well as increasing the amount of interest you will have to pay.

You generally cannot consolidate student loans under a debt consolidation loan. You can, however, either refinance your federal and/or private student loans, or consolidate all of your federal student loan debt under one federal loan. The rates for student-loan-specific refinancing and consolidation are generally lower, overall, than those for personal loans, so it’s a good way to handle educational debt.

If you only have credit card debt, a credit card consolidation loan is probably your best bet. But if you have other types of debt such as personal loans from another lender or other eligible installment loans, a debt consolidation loan would be the way to go.

Learn more about debt consolidation loans

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What Debt Consolidation is and How to Get Started

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5 Reasons to Use a Personal Loan for Debt Consolidation

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Debt Consolidation vs. Debt Settlement: What's the Difference?

See All Articles

Disclosures

Rates and offers current as of and are subject to change.

1The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.

*Your actual APR will be determined at the time of disbursement and will be based on your loan term and creditworthiness, which includes an evaluation of your credit history and the length of your PenFed membership. Not all applicants will qualify for the lowest rate. Rates quoted assume excellent borrower credit history. Other eligibility requirements may apply.

Loan Payment Example: A $ personal loan financed at % APR would amount to 36 monthly payments of approximately $ each.

Loan amount determines rate and term. All loans are subject to a minimum monthly payment of $50.

**There is no balance transfer fee, no early payoff fee, and no origination fee. There are no “hidden” fees such as home appraisal, closing, or title search fees that you might incur in other borrowing situations. If you do not make your monthly installment payment on time, you may incur late payment fees.

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This credit union is federally insured by the National Credit Union Administration. Rates are current as of May 2025 unless otherwise noted and are subject to change.

APY = Annual Percentage Yield
APR = Annual Percentage Rate


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