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Navy Federal Credit Union personal loans review

Low maximum rates for service members and DoD employees.’s rating: 4.4 / 5.0


  • Best for active-duty and retired members of the US armed forces.
  • Pick something else if you want a term longer than 3 years.


Min. Loan Amount$250
Max. Loan Amount$50,000
APR7.49% to 18.00%
Interest Rate TypeFixed
Min. Credit ScoreVaries
Origination FeeStarting from 0%
Loan TermUp to 5 years
Turnaround TimeAs soon as the same day

Must read: Navy Federal is offering Pandemic Relief Loans

  • Loan amounts: $250 to $5,000
  • APR: 6%
  • Terms: 6 months to 2 years
  • Deferment: 60 to 90 days

Navy Federal is offering its members emergency loans during the coronavirus outbreak. You can apply online and typically get the funds deposited into your bank account the same day.

Unlike some other emergency loans, Navy Federal considers your credit score, employment and other factors when you apply. If you can’t qualify, reach out to customer service for other relief options. And read our guide to managing finances during the coronavirus outbreak.

How much will this loan cost me?

Navy Federal loans rates range from 7.49% to 18.00% APR, with no origination fees. If you're an active duty or retired member of the military, you can can qualify for a 0.5% discount on your rate.

Loans run from $250 to $50,000 with terms up to 5 years. Use the calculator below to find out how much a Navy Federal loan might cost you at different rates, loan amounts and terms.

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How it works

Not everyone can qualify for a 7.49% APR on a $50,000 loan. You typically need to have a credit score of around 760 or higher and enough cashflow to support repayments for the lowest rates and highest amounts a lender offers.

Your loan term also affects the rates you’re eligible for. You can only qualify for a 7.49% APR with a term of 3 years or less. Terms longer than 3 years have rates that start at a high 18% APR.

What do I need to qualify?

To apply, you must meet the following requirements:

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

To get the best APR on a personal loan, good to excellent credit is recommended.

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 Navy Federal defines service members, civilians and immediate family members:

What information do I need to apply?

To apply for a personal loan from Navy Federal Credit Union, have the following information available:

  • Current employment and income details
  • Social Security number
  • Contact information
  • Coapplicant’s personal details — if applicable

Pros and cons

The low maximum rates at Navy Federal can make its personal loan can be a great option for some borrowers. But it has some major drawbacks.


  • 18% interest rate cap
  • Accepts coapplicants
  • Loans as low as $250
  • 0.5% APR discount for military members


  • Membership required to borrow
  • Relatively high starting APR of 18%Higher rates for longer terms
  • Mixed customer reviews

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7.99% to 35.99%
$2,000 to $50,000
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Credible personal loans
3.99% to 35.99%
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Upstart personal loans
5.6% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
7.99% to 23.43%
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
6.34% to 35.89%
$1,000 to $40,000
A peer-to-peer lender offering fair rates based on your credit score.

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Is Navy Federal Credit Union legit?

Yes, Navy Federal Credit Union is a registered federal credit union. It’s regulated by the National Credit Union Administration (NCUA) and meets certain standards — like capping rates at 18%. It also offers a range of other loans.

It takes steps to protect your information, like using two-factor authentication and SSL encryption to scramble data you submit online. It only shares your information with affiliates for everyday business purposes — and never with nonaffilaites to market to you.

BBB accreditedNo
BBB customer reviews1.21 out of 5 stars, based on 133 customer reviews
BBB customer complaints902
Trustpilot score4.7 out of 5 stars, based on 4,700 customer reviews
Customer reviews verified as of15 July 2021

Navy Federal gets mixed customer reviews — and customers have filed over 800 complaints with the Better Business Bureau (BBB) over the past three years. Many customers were happy with the quality of customer service — but not all were pleased. Several cited problems dealing with the mortgage and auto loans departments, but there were few mentions of personal loans.

How do I apply?

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

  1. Go the Navy Federal Credit Union website and visit the personal loan page.
  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 888-842-6328 to speak with a Navy Federal representative.

What happens after I apply?

Navy Federal will be in contact with you to discuss next steps. You may be required to submit proof of employment or income to complete the loan process.

How do repayments work with Navy Federal Credit Union?

Once you have your Navy Federal 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.

Before you choose a lender, be sure to explore other loan options for military members.

Frequently asked questions

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Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Borrowing from Navy Federal Credit Union is ideal for active-duty service members, veterans, employees of the Department of Defense and their families — you won’t qualify for membership otherwise. While its rates start on the higher side, they’re capped at 18% — relatively low compared to other lenders out there. And you can apply with a coapplicant to increase your chances of getting a good deal.

While it doesn’t have any hard-and-fast credit requirements, good to excellent credit is recommended. And if you’re looking for a term longer than five years, you’ll need to look elsewhere — unless you’re taking out a home improvement loan, which comes with terms up to 15 years.

Don’t qualify for membership with Navy Federal? Compare your other options below.

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