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Navy Federal Credit Union personal loans review

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APRs capped at 18% for servicemembers and DoD employees.

Navy Federal Credit Union offers competitive personal loan rates and terms to members of the military, veterans and those who work for the Department of Defense — extending membership to immediate family. If you’re planning your next home improvement project, well-deserved vacation or want to consolidate debt, a personal loan from NFCU could help you fund it.


Max. Loan Amount

8.19% to 18.00%



Min. Credit Score


Product NameNavy Federal Credit Union Personal Loans
Max. Loan Amount$50,000
APR8.19% to 18.00%
Interest Rate TypeFixed
Maximum Loan Term5 years

What is Navy Federal Credit Union?

Founded in 1933, Navy Federal Credit Union (NFCU) is the largest credit union in the United States, offering its members large loan amounts and long repayment terms. Like all credit unions, NFCU is owned by its members rather than corporate shareholders, which allows it to offer stronger rates with relaxed criteria for lending.

NFCU considers your personal circumstances when evaluating your application, but you’ll still need a good credit score to qualify.

How do personal loans from Navy Federal Credit Union work?

Members of NFCU may qualify for loans up to $50,000 and terms of 5 years. If you’re interested in funding a home improvement project, terms can stretch as long as 15 years, though you’ll have to borrow at least $25,000 for terms less than 7 years and $30,000 for terms longer than 7 years.

Rates run from 8.19% to 18.00%. However, the longer your term, the higher your interest will be. Short terms of 36 months or less may see interest as low as 8.19%, while a 15-year term has a minimum interest rate of 15.09%.

The amount you qualify for and the rate you’re quoted depends on your income and credit history.

What you need to know about credit union personal loans

What are the benefits of a Navy Federal Credit Union personal loan?

  • Discount for active duty or retired military. If you’re currently on active duty or retired from the military, you’re eligible for a 0.50% discount on your interest rate.
  • 18% interest rate cap. If you’re approved for a loan, 18% is the highest interest you’ll pay — even on loans with terms of 5 years. That’s competitive compared to other lenders with maximum APRs as high 36%.
  • Multiple branch locations. While many credit unions stay local to its communities, Navy Federal Credit Union has branch locations in 30 states, DC and Guam to meet the needs of all its members.

What are the drawbacks?

  • Membership required. To qualify for a personal loan from NFCU, you must be a member — common for credit unions, but the membership criteria is strict for NFCU.
  • Longer terms only for home improvement. You can only get that 15-year term if you need funds to fix up your living space.
  • Mixed reviews. Depending on where you look, you’ll find both negative and positive reviews on NFCU. Be sure to understand how borrowing from a credit union works before you apply.

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Am I eligible for a loan?

To get the best APR on a personal loan, good to excellent credit is recommended. NFCU allows coapplicants to aid individuals with less-than-perfect credit. You can also apply for a secured loan to help you build your score.

To apply, you must:

  • Have an active NFCU checking or savings account.
  • Have a regular source of income.
  • Be at least 18 years old.

How can I become a member of Navy Federal Credit Union?

Membership for Navy Federal Credit Union is open to current and former members of the military, employees of the Department of Defense (DoD) and immediate family member of those who are eligible to join.

Here’s how NFCU defines service members, civilians and immediate family members:


  • Active-duty members of any branch of the US military
  • Army or Air Force National Guards
  • DoD officer candidates, members of an ROTC program or members of the Reserves
  • Veterans and retirees
  • DoD civilian employees
  • US government employees assigned to DoD installations
  • DoD contractors
  • DoD civilians and retirees
Immediate family members
  • Spouses
  • Parents and grandparents
  • Children and grandchildren
  • Siblings
  • Household members

How do I apply?

If you’re a member of the Navy Federal Credit Union, you can apply for a personal loan with NFCU in four easy steps.

  1. Go the NFCU’s website and visit the personal loan page.
    Navy federal credit union banner with family on the background
  2. Click Apply Now.
  3. Sign in to your account
  4. Enter your personal information, including income and employment details.

If you’re looking for a debt consolidation loan or a home improvement loan, you can visit a nearby branch or call 1-888-842-6328 to speak with an NFCU representative.

More about Navy Federal Credit Union loans

I got the loan. Now what?

Once you have your NFCU personal loan, keep up with monthly payments to avoid paying unnecessary fees. Missing even one payment can damage your credit score. Check out our budgeting guide if you want to learn how to budget your money and ensure your bills are paid on time.

Bottom line

If you qualify for membership, NFCU can offer loan options suitable to a variety of financial situation. However, not everyone qualifies for membership, and even those who do may not want to risk paying high interest if they think they could qualify elsewhere. Before you decide, be sure to compare more personal loan options or explore other loan options for military members.

Frequently asked questions

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