USAA loans

Competitive rates and terms for active or retired US military members and their families.

USAA is part of unique group of financial institutions with a mission to help US military members and their families with more favorable financial products, including banking accounts, credit cards, investment advice and loans to its members.

Founded in 1922 as United Services Automobile Association, when 25 US Army officers organized to provide car insurance to service members who were considered a poor risk, USAA is neither a bank nor a credit union. Instead, USAA is a financial services group owned by its 11.9 million members.

USAA lends to its members for nearly any need, from debt consolidation to auto purchases to mortgages that help military members buy a new home. It has a solid reputation for strong rates and flexible payment plans that are typically among the best in the industry.

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Who qualifies?

To meet USAA’s most basic qualification requirements, you must:

  • Be a USAA member
  • Have good credit
  • Be at least 18 years old
  • Have good credit
  • Be a US citizen or permanent resident

What types of loans does USAA offer?

USAA offers a variety of loans for military members and people with family connections to the military.

  • Personal loans. From funding your home improvements to consolidating your debt, USAA offers quick approval with terms that range from 12 to 84 months. Learn more about personal loans.
  • Auto loans. Finance your next new or used car with competitive APRs, depending on your credit. You can even refinance your current vehicle with terms of up to 84 months. Learn more about car loans.
  • Motorcycle, RV, boat and leisure vehicle loans. Finance your next getaway vehicle with terms of 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. Learn more about mortgages.

Learn more about USAA loans

USAA loan options
USAA personal loan reviewUSAA auto loan review
USAA leisure vehicle loan review

Compare USAA to other lenders

Rates last updated November 20th, 2017

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Name Product Product Description Min. Credit Score Max. Loan Amount APR Requirements
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
From 5.5% (fixed)
Must be a US citizen or permanent resident with a valid I-551 card
Even Financial Personal Loans
Get matched to the best loan offer instantly from top online consumer lenders.
580
$100,000
From 4.99% (fixed)
Must have a minimum credit score of 580+. Must be 18+ years old and be an American citizen or permanent resident.
Prosper Personal Loan
Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
640
$35,000
From 5.99% (fixed)
Must be 18+ years old, an American citizen or US permanent resident and have a 640+ credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
Borrow up to $100,000 with a competitive APR and no fees.
Good to excellent credit
$100,000
From 5.49% (fixed)
You must be a U.S. citizen or permanent resident, and 18 years or older.
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
600
$25,000
From 15.49% (fixed)
Must have a fair credit score of 600 or better and verifiable income. Must live in a state where LendingPoint services.
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
From 5.99% (fixed)
You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income.

Compare up to 4 providers

Why should I consider taking out a USAA loan?

A top-notch reputation is just one of USAA’s many benefits.

  • Easily apply online. Apply or prequalify for a loan in about five minutes.
  • Autopay discount. Sign up for autopay from a USAA account and get a rate discount on most loans.
  • No hidden fees. Pay not 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 — meaning you’re covered if you can’t make payments.

How much does it cost to borrow with USAA?

USAA considers your creditworthiness and the term of the loan to determine your APR. If you’re late on your payments, you’ll typically pay a penalty equal to 5% of the payment due. You won’t pay an origination, application or prepayment fee with any USAA loan.

Are USAA loans safe?

Throughout the loan process, only you and USAA employees whose jobs require it can access your information. 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 and intrusion software. USAA is also rated A+ by the BBB and backed by the US Department of Veterans Affairs.

Report suspicious emails, phone calls, texts or other activity to USAA at abuse@usaa.com or 877-762-7256.

What do customers say?

USAA is not accredited with the Better Business Bureau but it does receive an A+ rating, which is based on factors like the volume of customer complaints and how it responds. Reviews, however, were not so positive: 90% were negative and it had an alarming 1,400 consumer complaints filed against this.

Many complaints were 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.

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.

USAA loans

Once you’re a member, you’ll have access to an easy online application to start the process of obtaining a loan with USAA.

Eligibility requirements

To apply for a loan with USAA, you must:

  • Be at least 18 years old.
  • A US citizen or permanent resident.
  • A USAA member — a member of the military or a military family.
  • In good credit standing.

Who qualifies for USAA membership?

Active military, former military, cadets, midshipmen and their families can sign up with USAA.

Benefits and drawbacks of USAA loans

Pros

  • Reputable lender. Top lender backed by the VA and BBB rated A+.
  • Autopay discount. Get a 0.25% discount with automatic deductions from your USAA checking account.
  • No prepayment fees. No penalties for paying off your debt early.
  • Considers all credit scores. You won’t be turned down for poor credit.

Cons

  • Requires USAA membership. USAA loans are available to current and former members of the US military and their families only.
  • Best rates for excellent credit. If you have less-than-perfect-credit, you may be offered a higher APR or not get approved at all.

Bottom line

USAA loans offer competitive rates with quick access to funds and flexible repayment terms. But you’ll must be eligible for USAA membership, which is open to members of the military or those who are part of a military family.

Frequently asked questions about USAA

Your fee to sign up for USAA Debt Protection depends on the amount of your loan’s principal and the plan you choose. Basic, Standard and Premium plans are available, and fees are included in your total loan payment.

No, you must meet USAA’s eligibility criteria, which includes being an active or retired military member or have a family member in the military. You can, however, use some of USAA’s other services including investment guidance, life insurance and shopping discounts.

No, but you are eligible for a discounted APR by signing up for autopay from a USAA checking account. You can also make loan payments manually online or by mailing a check.

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US Personal Loans Offers

Learn about our information service
Prosper Personal Loan

Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

Borrow up to $100,000 with a competitive APR and no fees.

Upstart Personal Loans

This newer service looks beyond your credit score to get you a competitive-rate personal loan funded by accredited investors.

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