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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.
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Max. Loan Amount

7.49% to 18.00%



Min. credit score


Min. Loan Amount$250
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

Review by

Anna Serio is a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY.

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.

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


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