- As low as % APR*
- Terms up to 60 months
- Loans up to $
- No early payoff penalty
- No origination fee
- No hidden fees
Wherever you go,
take PenFed with you!
Can I use a personal loan to pay off my credit card debt?
Definitely. Every year millions of U.S. consumers use unsecured loans for debt consolidation of high-interest credit. If you’re feeling overwhelmed by multiple debt payments, or you want to lower your monthly payments, you can combine unsecured debts into one lower, fixed-rate loan.
How much can I apply for?
You can apply for a personal loan up to $.
What rates do you offer?
Your actual APR will be determined at the time of disbursement and will be based on your 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 conditions may apply.
Can I pay off my loan early?
Yes, there are no penalties for paying off your loan early.
Do I need to submit collateral for a personal loan?
No. Personal loans are unsecured, meaning you don’t need to put up collateral like a house or a car to secure your loan.
When will I receive my funds?
Funds are available as early as next day depending on the method selected.
Direct Deposit & ACH: 1-2 Business Days
Check: 5-7 Business Days
Actual timing may be longer or shorter depending on the time of day that your loan is processed and depending on your financial institution. Both options may not be available to every applicant.
Do you charge an application fee?
No, applying for a loan is free. We also offer $0 origination fees.
Can I apply with a co-borrower?
Yes. Applying with a co-borrower may help you qualify for a lower interest rate.
Do I need to become a member to apply for a loan?
No, you don’t need to become a member to apply. However, should you choose to move forward and fund your loan, you’ll need to become a member. It’s an easy process – no military affiliation required.
Do I need to become a member to get my loan?
In order to get a loan with us, you will need to become a PenFed member. But don’t worry! We will walk you through the easy membership process after your loan is decisioned. It only takes a few minutes – anyone can join!
Rates and offers current as of and are subject to change.
*Your actual APR will be determined at the time of disbursement and will be based on your 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 60 monthly payments of approximately $ each.
†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.
Loan amount determines rate and term. All loans are subject to a minimum monthly payment of $50.