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Our verdict

Small personal loans — but only for current and former members of the military.

USAA personal loans are ideal if you're an active or former member of the military. Its loans come with no origination fee, an autopay discount and the option to sign up for debt protection. And its turnaround is quick. You can apply online and hear back about approval within one to two business days.

But its rates start relatively high compared to other lenders, so you may be able to find a better deal if you have good to excellent credit. Its loans are also extremely limited: You can only borrow between $2,500 to $5,000. This narrow range may mean you aren't able to get a personal loan that may suit you.

Can't qualify for membership? Need more funds? You can use our table and compare your other options.

Pros

Online application and fast funding
Autopay discounts
No hidden fees

finder.com's rating: 3.8 / 5.0

★★★★★

Bottom line: USAA offers a range of personal loan options to members — and you can become a member as part of your application. But the loan term length you can receive depends on how much you borrow.

Details

Product details

Min. Loan Amount	$2,500
Loan Amount	$100,000
APR	8.29% to 18.51%
Interest Rate Type	Fixed
Min. credit score	Varies
Origination Fee	Starting from 0%
Loan term	1 to 3 years
Turnaround Time	24 to 48 hours to a USAA account (or longer if sending a bank check by FedEx)

Contact info

Phone number	800-531-8722
Email	@USAA
Twitter	@USAA_help
Facebook	@USAA

Our take on USAA personal loans

USAA personal loans are best for active or former members of the military and their families. Eligible borrowers can take out a minimum of $2,500 up to $100,000 with repayment terms from one to seven years, depending on the amount of the loan. To get the longest term of seven years, you must borrow at least $20,000.

Unlike some lenders, USAA personal loans have no origination fee, an autopay discount and allow you add a coborrower. But even with USAA’s autopay discount, its lowest rate is still slightly higher than other lenders like Sofi or Marcus. But its turnaround is quick: apply online and hear back about approval within one to two business days.

But you’ll need strong credit to qualify for a personal loan with USAA, and only military members and their families are eligible. If you’re not a military member or have a fair credit, we suggest comparing more lenders to find one that works with your situation and credit score.

USAA personal loans rates, fees and terms

USAA offers personal loans from $2,500 to $100,000 with rates from the low 7% APR range and topping out at a maximum of 18.51% APR. Terms range from one to seven years, depending on how much you borrow. The more you borrow, the longer the term you’re eligible for.

Here’s how it works:

12- to 36-year term. Borrow $2,500 or more.
48-month term. Borrow $5,000 or more
60-month term. Borrow $10,000 or more.
72-month term. Borrow $15,000 or more.
84-month term. Borrow $20,000 or more.

Use the calculator below to estimate your potential monthly payment with a small personal loan from USAA.

Your loan
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How USAA personal loans compare to other lenders

Here’s how USAA stacks up to the competition, in terms of cost, loan amounts and eligibility.

USAA personal loans	PenFed Credit Union personal loans	SoFi personal loans

★★★★★ Finder rating 3.6 / 5	★★★★★ Finder rating 3.6 / 5	★★★★★ Finder rating 4.4 / 5
	Go to site	Go to site
APR 8.29% to 18.51%	APR 7.99% to 18%	APR 8.99% to 29.99%
Loan term 1 to 3 years	Loan term 1 to 5 years	Loan term 2 to 7 years
Loan amount $2,500 to $100,000	Loan amount $600 to $50,000	Loan amount $5,000 to $100,000
Min. credit score Varies	Min. credit score 580	Min. credit score 680

Compare even more personal loans

Compare rates

Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

How to qualify

To apply for a personal loan with USAA, you must meet a few requirements:

Be USAA member
Be an active or former military member, spouse or child
Have good to excellent credit
Be a US citizen or permanent resident
Be at least 18 years old

Am I eligible for USAA membership?

Membership with USAA is limited to a select few groups of people:

Active and former members of the military
Family members of those in the US armed forces
Military cadets
Midshipmen

See other personal loan options

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Name	APR	Min. credit score	Loan amount
Upstart personal loans Finder Score: 4.2 / 5: ★★★★★ Upstart personal loans Finder Score: 4.2 / 5: ★★★★★	7.80% to 35.99%	300	$1,000 to $50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site View details	Compare	loading Fetching your data…
SoFi personal loans Finder Score: 4.4 / 5: ★★★★★ SoFi personal loans Finder Score: 4.4 / 5: ★★★★★	8.99% to 29.99%	680	$5,000 to $100,000	A highly-rated lender with competitive rates, high loan amounts and no required fees.	Go to site View details	Compare	loading Fetching your data…
Best Egg personal loans Finder Score: 3.8 / 5: ★★★★★ Best Egg personal loans Finder Score: 3.8 / 5: ★★★★★	8.99% to 35.99%	600	$2,000 to $50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to site View details	Compare	loading Fetching your data…
Upgrade Finder Score: 4 / 5: ★★★★★ Upgrade Finder Score: 4 / 5: ★★★★★	8.49% to 35.99%	620	$1,000 to $50,000	Check your rates with this online lender without impacting your credit score.	Go to site View details	Compare	loading Fetching your data…
LendingPoint personal loans Finder Score: 3.3 / 5: ★★★★★ LendingPoint personal loans Finder Score: 3.3 / 5: ★★★★★	7.99% to 35.99%	620	$2,000 to $36,500	Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.	Go to site View details	Compare	loading Fetching your data…
Happy Money Finder Score: 3.8 / 5: ★★★★★ Happy Money Finder Score: 3.8 / 5: ★★★★★	11.72% to 24.50%	640	$5,000 to $40,000	Pay down your debt with a fixed APR and predictable monthly payments.	Go to site View details	Compare	loading Fetching your data…

USAA personal loan reviews and complaints

BBB accredited	No
BBB rating	A-
BBB customer reviews	1.2 out of 5 stars, based on 834 customer reviews
Trustpilot Score	1.3 out of 5 stars, based on 1,467 customer reviews.
Customer reviews verified as of	12 July 2022

USAA gets mostly negative reviews on sites like Trustpilot and the BBB website, with only a small percentage of reviewers reporting good experiences.

While the most recent reviews don’t focus on USAA’s personal loans, many customers complain that USAA’s customer service has degraded over the years and that the company doesn’t offer any significant benefits to veterans compared to providers like State Farm. Several complaints on the BBB website mention disagreements over insurance claims and billing errors on accounts.

More positive reviews mention good customer service experiences and low rates on insurance, with a few customers recommending USAA’s banking products.

Government actions against USAA

The Consumer Financial Protection Bureau (CFPB) sued USAA for continuing to charge customers after they’d submitted a stop payment request on electronic funds transfers. It also charged the bank with failing to sufficiently investigate the solution. USAA paid out $12 million to customers and a $3.5 million fine after it reached a settlement with the CFPB in 2019.

USAA also entered a Consent Order with the Office of Comptroller of the Currency (OCC) in 2019, after the OCC found that the bank did not have adequate risk management systems in place to protect customers. USAA neither admitted to or denied the OCC’s assessment. But it agreed to create a committee to monitor its compliance with the OCC and submit a written action plan to correct the problems.

How the application works

You can apply for a USAA personal loan online. If you aren’t a member, you’ll have to join first. Otherwise you can get started by logging on to your USAA account.

Once you’ve submitted your info, a specialist considers your loan request. You’re usually notified of the loan decision within one to two business days. If approved, you may have your loan funded within 24 hours.

Browse more loans offered by USAA. And if you can’t open an account, compare other personal loan options to find a good fit for you.

How USAA debt consolidation works

Unlike lenders like Discover, USAA doesn’t directly send your loan proceeds to your creditors. Instead, you’ll need to contact your creditors and ask for a pay off amount on the date you expect to send the funds. This can also take longer than if you use a lender that directly pays creditors for you, because you have to wait for two transfers:

One to receive your loan funds after approval (about 24 to 48 hours to a USAA account, and longer if by bank check via FedEx)
One for your creditors to receive the payment

If you’d rather your lender pay your creditors for you, you’ll need to choose another lender. And as always, be sure to shop around to find the best rate and terms for your debt consolidation needs.

Frequently asked questions

Does USAA allow cosigners?

No, but it does allow you to file a joint application.

Are USAA personal loans available to nonmilitary families?

No. USAA personal loans are reserved for USAA members who meet the eligibility criteria. You can, however, use some of USAA’s other services, including investment guidance, life insurance and shopping discounts.

How much does USAA Debt Protection cost?

The cost depends on your loan amount and the level of protection you choose. Basic, Standard and Premium plans are available, and fees are included in your monthly loan payment.

Personal loan ratings

★★★★★ Excellent

★★★★★ Good

★★★★★ Average

★★★★★ Subpar

★★★★★ Poor

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Aliyyah Finder

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Alokoa

May 03, 2018

Do I need a savings or checking account with USAA to get a personal loan?

Jhezelyn Finder

May 04, 2018

Hello Alokoa,

Thank you for your comment.

USAA personal loans are reserved for USAA members who meet the eligibility criteria. So you must be a member first and yes, you need a USAA checking account since you will use that for repayments.

Regards,

Jhezelyn

USAA personal loans review

Our verdict

Pros

Details

Product details