Grace Enfield, Content Writer
Permalink Report Abuse
PenFed may approve you for a personal loan the same day you apply. After your application is approved and you accept the offer, it takes 1 - 2 business day to receive your funds, which PenFed will send to you by electronic bank transfer.
Key Things to Know About PenFed Loan Approval
- Minimum Credit Score: 600+ according to multiple third party sources
- Approval Timeline: Same day
- Funding Timeline: 1 - 2 business day
- Fund Delivery Method: Electronic bank transfer
- Loan Amount: $500 - $50,000
- APR: 7.74% - 17.99%
- Repayment Period: 12 - 60 months
- Origination Fee: $0
If you think a PenFed loan is right for you, check out the full PenFed personal loan review on WalletHub. You can also estimate your potential rates with our free pre-qualification tool.
2022 Best Personal Loan OffersCompare Offers
People also ask
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Did we answer your question?