2022 Navy Federal Personal Loan Review
Navy Federal personal loans offer some of the best rates on the market, with APRs ranging from 7.49% - 18%. On top of that, Navy Federal offers both small and large loans, with $250 - $50,000 in funding available. The origination fee is $0, too.
The main drawback to Navy Federal personal loans is that you can only apply for them if you are an NFCU member. You’re eligible if you’ve served in the military or if a family member has served (or is an NFCU member). Department of Defense personnel and their families are also eligible.
Navy Federal Credit Union Personal Loan Review Highlights:
- APRs: 7.49% - 18%
- Loan sizes: $250 - $50,000
- Payoff periods: Up to 60 months (up to 180 for home improvement)
- Credit score requirement: Not disclosed
- Origination fee: $0
- Other fees: $29 late fee
- Reputation: NFCU is currently not rated by the Better Business Bureau. It has an average user rating of 4.1/5 on WalletHub.
Overall, Navy Federal personal loans are a great option if you’re eligible for membership in the credit union. Below, you can see how WalletHub rates Navy Federal in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Navy Federal Ratings by Category:
|Requirements & Application||3.8/5|
|Reviews & Transparency||2/5|
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.