PERSONAL LOANS
Personal loans for what’s next
From planned purchases to unexpected expenses, borrow up to $50,000 with a PenFed personal loan, no origination fee and no impact to your credit score when you check your rate.
Won’t affect your credit score1
Why Choose a PenFed personal loan?
We understand everyone’s needs are different, and we’ve been tailoring loans to those needs for over years.
Save more with autopay
Lower your interest rate by .25% when you set up autopay
Estimated rates at-a-glance
Check your rate without affecting your credit score1
Loan amounts up to $50K
Flexible loan terms up to 5 years
No fees or penalties
No origination fee, no early payoff fee, no balance transfer fee**
Won’t affect your credit score1
Save more with autopay
Lower your interest rate by .25% when you set up autopay
Estimated rates at-a-glance
Check your rate without affecting your credit score1
Loan amounts up to $50K
Flexible loan terms up to 5 years
No fees or penalties
No origination fee, no early payoff fee, no balance transfer fee**
Won’t affect your credit score1
Top personal loans lender
Don’t just take our word for it — see what the experts are saying.
How to get a persona loan in 4 simple steps
How to get a persona loan in 4 simple steps
1. Check your rate
Get pre-qualified in just a few minutes with no impact to your credit score1.
2. Choose your offer
Select flexible loan terms that work for you.
3. Finalize your loan
E-sign your loan documents.
4. Get funded
Receive your money as soon as the next day!
Won’t affect your credit score1
1. Check your rate
Get pre-qualified in just a few minutes with no impact to your credit score1.
2. Choose your offer
Select flexible loan terms that work for you.
3. Finalize your loan
E-sign your loan documents.
4. Get funded
Receive your money as soon as the next day!
Won’t affect your credit score1
|
Feature |
PenFed Personal Loan |
|---|---|
|
Loan amounts |
Up to $50,000 |
|
Loan terms |
Up to 60 months |
|
Rates |
Rates ranging from |
|
Fees |
No origination fee, no early payoff fee, no balance transfer fee |
|
Minimum monthly payment |
$50 |
|
Collateral |
None; PenFed personal loans are unsecured |
|
Checking your rate |
Soft credit inquiry with no impact to your credit score1 |
|
Funding |
As soon as the next day after you e-sign your loan documents |
|
Common uses |
Debt consolidation, home improvement, and personal expenses |
FAQs
Check your rate in a few minutes with no impact to your credit score, choose the offer and loan term that work for you, e-sign your loan documents, and receive your money as soon as the next day.
Yes. If you're feeling overwhelmed by multiple debt payments, or you want to lower your monthly payments, you can combine unsecured debts into one fixed-rate loan. Find out more in our article 5 Ways to Consolidate Credit Card Debt.
PenFed offers APRs ranging from % to
%. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Not all applicants will qualify for the lowest rate.
Yes. There are no penalties for paying off your loan early.
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.
No collateral is required. A personal loan is unsecured, which means you don’t need to put up collateral like a house or a car to secure your loan.
PenFed personal loans are available in amounts up to $50,000 with terms up to 60 months. Your loan amount determines your rate and term, and all loans are subject to a minimum monthly payment of $50.
No. PenFed personal loans have no origination fee, no early payoff fee, and no balance transfer fee. There are no hidden fees such as appraisal, closing, or title search fees, though you may incur late payment fees if you don't make your monthly payment on time.
After you e-sign your loan documents, you can receive your money as soon as the next day.
Disclosures
Rates and offers current as of and are subject to change.
1
The 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.
*
AutoPay discount of .25% is only available prior to loan funding. Rates without AutoPay are 0.25% points higher. Excellent credit required for lowest rate.
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 24 monthly payments of approximately $
each. Rate is quoted with a .25% AutoPay discount. Autopay discount is only available prior to loan funding. Rates without autopay are 0.25% points higher.
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.