PenFed Personal Loan Review
PenFed personal loans have very low rates compared to most other personal loans, at 5.99% - 17.99%, with a $0 origination fee. Borrowers can also get $500 - $50,000 in funding, and will have 12 - 60 months to pay the loan back.
You can only get a PenFed personal loan if you join Pentagon Federal Credit Union. Anyone can join for free, though, as long as they open a PenFed savings or share account with at least a $5 initial deposit.
PenFed Personal Loan Review Highlights
- APRs: 5.99% - 17.99%
- Loan sizes: $500 - $50,000
- Payoff periods: 12 - 60 months
- Credit score requirement: 650
- Other requirements: 18+ years old, U.S. citizen or permanent resident, SSN or ITIN
- Origination fee: $0
- Late fee: $20 - $25
- Reputation: PenFed gets a score of A+ from the Better Business Bureau and has an average user rating of 4.0 on WalletHub.
PenFed personal loans are some of the best on the market, and anyone can join PenFed to apply. The loans aren’t completely flawless, though. Below, you can see how WalletHub rates PenFed personal loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
PenFed Personal Loan Ratings by Category
Category | Editor’s Rating |
---|---|
Terms | 5/5 |
Requirements & Application | 4.8/5 |
Reviews & Transparency | 4.3/5 |
Overall Score | 14.6/15 |
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.