What information do I need to apply?
- Date of birth
- Social Security number
- Details about you or your family member’s military service
- Current employment and financial information
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USAA personal loans review
Last updated:
Members of USAA may benefit from a personal loan starting at $2,500.
finder.com’s rating: 3.8 / 5.0
★★★★★
- Best for active and former members of the military who don't want to pay an origination fee.
- Pick something else if you don't have the best credit.
$20,000
Max. Loan Amount
6.99% to 17.65%
APR
Varies
Min. Credit Score
Details
| Product Name | USAA Personal Loans |
|---|---|
| Min. Loan Amount | $2,500 |
| Max. Loan Amount | $20,000 |
| APR | 6.99% to 17.65% |
| Interest Rate Type | Fixed |
| Min. Credit Score | Varies |
| Late Fee | 5% of payment due |
| Maximum Loan Term | 6 years |
Expert review
Review by
Aliyyah Camp
aliyyah.camp@finder.comAliyyah 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 — you won’t qualify otherwise. Its loans come with no origination fee, an autopay discount and the option to sign up for debt protection in case the unthinkable happens. You can apply online, and applicants typically hear back about approval within one to two business days.
But its rates start relatively high compared to other lenders out there — which is odd since it requires strong credit to even qualify. And its loans max out at $20,000, which means this might not be the best choice for covering larger projects or expenses. You also need to be a USAA member or join before you can apply.
Can’t qualify for membership? Compare your other options below.
First, am I eligible?
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
Pros
- Online application
- Autopay APR discount of 0.25%
- No origination fee
- USAA Debt Protection program
Cons
- Must be a USAA member
- Rates start higher than other lenders
- Low maximum loan amounts
- Strong credit required
Compare other personal loan providers
Updated January 25th, 2020
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How do I apply?
You can apply online by visiting USAA online and clicking Join USAA. If you’re already a member, log in to your USAA member account. From here, you can fill out the application by providing some basic information about yourself, including details about your finances.
What happens after I apply?
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.
More about USAA loans
How do repayments work with USAA?
Once you have your USAA personal loan, keep up with monthly payments to avoid paying the 5% penalty for late payments. And if you sign up for autopay with a USAA checking account, you’ll receive a discount of 0.25%.
If you run into any problems or have questions, visit a USAA branch or contact customer service.
If you can’t open an account with USAA, you can compare other personal loan options to find a good fit for you.
Frequently asked questions
Personal loan ratings
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★★★★★ — Average
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