USAA personal loans review March 2021 |
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USAA personal loans review

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Small personal loans — but only for current and former members of the military.’s rating: 3.8 / 5.0


Bottom line: USAA offers small-dollar loans to members — though you can join as part of your application. But with higher-than-average starting rates, you could find a better deal with another lender.


Max. Loan Amount

7.24% to 17.65%



Min. Credit Score


Product NameUSAA personal loans
Min. Loan Amount$2,500
Max. Loan Amount$20,000
APR7.24% to 17.65%
Interest Rate TypeFixed
Min. Credit ScoreVaries
Late Fee5% of payment due
Loan Term1 to 3 years


  • Autopay APR discount of 0.25%
  • No origination fee
  • USAA Debt Protection program


  • Extremely limited loan amounts
  • High starting APR of 7.24%
  • Must be a USAA member
  • Strong credit required

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

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.

USAA personal loans rates, fees and terms

Because USAA only offers personal loans from $2,500 to $20,000, you won’t be paying an arm and a leg in interest. That being said, its rates do start high — 7.24% without an APR discount.

Terms are also limited, ranging from 12 to 36 months. Fortunately, this will help keep the amount you owe in interest down. Your monthly payments, on the other hand, may be higher than with other lenders.

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

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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.

How to qualify

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

  • Be USAA member
  • 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

    USAA personal loan reviews and complaints

    BBB accreditedNo
    BBB ratingA-
    BBB customer reviews1.2 out of 5 stars, based on 540 customer reviews
    Trustpilot score1 out of 5 stars, based on 518 customer reviews
    Customer reviews verified as of12 October 2020

    While the most recent reviews don’t focus on USAA’s personal loans, many customers complain about poor customer service. USAA leaves form responses to complaints, if it responds at all, and members who have had accounts for years are upset with recent problems with communicating with USAA representatives.

    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.

    What sets it apart?

    USAA’s low loan range of $2,500 to $20,000 makes it more like a cheap alternative to an installment loan from a short-term lender than a personal loan. Most personal loans start at around $2,000 and end at around $50,000 or higher.

    This limited loan amount range means it’s only useful for specific purposes — look elsewhere if you want to fund a large home improvement project. But if you’re already a USAA member, it could be an easy way to get financing without sharing your information with another lender.

    You can 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.

    Frequently asked questions

    See other personal loan options

    Select your credit score range and state to see more options that might be available to you.

    Data updated regularly
    Name Product Filter Values APR Min. Credit Score Max. Loan Amount
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    5.99% to 29.99%
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    Credible personal loans
    2.49% to 35.99%
    Fair to excellent credit
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    Monevo personal loans
    3.49% to 35.99%
    Quickly compare multiple online lenders with competitive rates depending on your credit.
    Fiona personal loans
    4.99% to 35.99%
    Get loan offers from multiple lenders at once without affecting your credit score.
    Upstart personal loans
    8.94% to 35.99%
    580 or 600 depending on state of residence
    This service looks beyond your credit score to get you a competitive-rate personal loan.

    Compare up to 4 providers

    Personal loan ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

    Read the full methodology of how we rate personal loan providers.

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      Default Gravatar
      May 4, 2018

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

        Avatarfinder Customer Care
        May 4, 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.


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