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USAA loans
Competitive rates and terms for current and form US military members and their families.
USAA has a solid reputation for competitive rates and flexible payment plans that are typically among the best in the industry. But with some government action taken against it, you might want to weigh a good deal with the risk of a bank that has a not-so-great reputation.
What types of loans does USAA offer?
USAA offers a variety of loans for military members their families.
- Personal loans.USAA offers quick approval with terms that range from 1 year to 7 years and interest rates between 7.14% to 18.51%
- Auto loans. Finance your next new or used car with competitive APRs, though exact terms depend on your credit. You can even refinance your current vehicle for up to 84 months.
- Motorcycle, RV, boat and leisure vehicle loans. You can use a leisure vehicle loan to spend your free time in style. Terms last up to 180 months.
- Home mortgages. Discover the benefits that come with USAA’s VA loans, Conventional 97 loans, or conventional mortgages is for military and nonmilitary members, including fixed rates with as little as 5% down.
Does USAA offer student loans?
No. USAA used to have a referral program that provided a rate discount to USAA members who borrowed a student loan from Wells Fargo, but it has since stopped offering this option. If you’d like borrow for school, compare the best alternatives to a USAA student loan.
Why should I consider taking out a USAA loan?
- Autopay discount. When you sign up for autopay from a USAA checking account, you may be eligible for a rate discount of 0.25% for most of its loan options.
- No hidden fees. There are no prepayment, application or other hidden fees with USAA.
- Low APRs. Get competitive APRs for loans in just about every category.
- USAA debt protection. With USAA, you can pay a fee to protect yourself from unforeseen financial difficulties.
- Considers all credit scores. You won’t be turned down for poor credit, but you also may not be able to get the best rates with a lower score.
Where does USAA fall short?
- Undergoing government action.According to the Better Business Bureau (BBB), USAA has been ordered by the Consumer Financial Protection Bureau (CFPB) to pay $12 million after it failed to honor stop payment requests on electronic transfers.
- Best rates reserved for excellent credit. If you have less-than-perfect-credit, you may be offered a higher APR — or may not be approved at all.
- Requires membership. You can only borrow from USAA if you are a current or former members of the US military or part of their family.
Compare USAA to other lenders
How much does it cost to borrow with USAA?
USAA charges minimal fees for its loans and doesn’t have any origination, application or prepayment fees. But if you’re late on your payments, you’ll typically pay a penalty equal to 5% of the payment due.
In addition to fees, you’ll also have to repay your loan with interest. While USAA has competitive rates, it may not be the best choice for those with excellent credit who could qualify for a lower rate from another lender. Consider your options carefully, and read our dedicated review pages to get a clear idea on the rate you can expect with a loan from USAA.
What do borrowers say about USAA?
USAA isn’t accredited with the BBB and receives a relatively low rating of C+ due to the recent government actions taken against it. In addition to these, it also has a low overall rating from customer reviews and nearly 1,500 complaints filed against it.
Many complaints involved having accounts dropped or loans suddenly canceled with seemingly no warning. Others complained that USAA wasn’t totally forthcoming about loan costs. It’s excellent customer service, however, seems to make up for its shortcomings.
Are USAA loans safe?
Yes. USAA takes every reasonable precaution to make sure your information is secure and protected from unauthorized access. Its site uses multilayer security to protect your financial and banking information, including onsite security and antivirus software. Throughout the loan process, only you and USAA employees whose jobs require it can access your information. And to top it all off, USAA is backed by the US Department of Veterans Affairs.
You can report suspicious emails, phone calls, texts or other activity to USAA at abuse@usaa.com or 877-762-7256.
How to apply for a USAA loan
To apply for a loan with USAA, you must first become an USAA member. Visit USAA online and click Join USAA to get started.

Once you’re a member, you’ll have access to an easy online application to start the process of obtaining a loan with USAA. Simply visit the page for the type of loan you need by using the navigation bar, then fill out the application with information about yourself and your finances. After you submit, USAA will contact you with a loan decision and any further steps you might need to take.
Eligibility requirements
To apply for a loan with USAA, you must
- Be a USAA member
- Have good to excellent credit
- Be US citizen or permanent resident
- Be at least 18 years old
Bottom line
USAA loans offer competitive rates with quick access to funds and flexible repayment terms. But you must be eligible for USAA membership, which is only open to members of the military or those who are part of a military family. If you’d like to consider more options, compare the best loans for service members or explore our comprehensive personal loans guide.
Frequently asked questions
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Ask an Expert
I need a loan within an hour.
Hello Nessa,
Thank you for your comment.
I understand that you needed to loan very quickly. Please take note that online applications may take as early as a few minutes for approval if all requirements are met.
You can apply for USAA personal loans and can be approved quickly. You may enter your credit score and your state and see loan options for you. After comparing the loans and you have decided to apply, please click the Go to Site button.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Regards,
Jhezelyn