USAA personal loans review December 2018 | finder.com

USAA personal loans review

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Members of USAA may benefit from a personal loan starting at $2,500.

finder.com’s rating: 3.6 / 5.0

★★★★★

USAA has been offering loans to its members since 1922 and has grown to be a leading financial institution that serves military members and their families. It may not have the lowest rates around, but with minimal fees and a debt protection plan to help borrowers, USAA may be a good choice for those who already hold an account.

What is a USAA personal loan?

USAA offers unsecured personal loans to current and former members of the military and their families. These loans have competitive rates and long terms. You may be able to borrow up to 84 months for amounts over $20,000.

Loan amounts start at $2,500. Rates are fixed, and those with excellent credit who choose automatic payments may qualify for an APR between 8.99%–10.99%.

Terms vary by loan amount. 12- to 36-month terms are available for every loan, but longer terms require you to borrow more.

Compare your other personal loan options

Rates last updated December 13th, 2018

Reveal your potential loan offers and rates

Answer two quick questions to filter the loan offers and get the best one for you.

Select your credit score range

I don't know my credit score

Finally, select where you live.

To get your credit score:

Experian logo

Experian is a leading provider of personal and business credit reporting. Find out your FICO score now for less than the cost of a cup of coffee.

Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
550
$100,000
3.84% to 35.99% (fixed)
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$100,000
4.99% to 36% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.95% to 35.89% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
550
$100,000
3.34% to 35.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34% to 155% (Varies by state) (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
7.24% to 15.24% (fixed)
Marcus by Goldman Sachs Personal Loans
Consolidate your debt or pay off large expenses with competitive rates and no fees.
Good to excellent credit
$40,000
6.99% to 24.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$30,000
16.05%–35.99%* (fixed)
Avant
Conveniently check your loan options without affecting your credit score.
580
$35,000
9.95% to 35.99% (fixed)

Compare up to 4 providers

What are the benefits of a USAA personal loan?

If you’re a member of the US military or come from a military family, you could qualify for the many benefits of a USAA personal loan.

  • Online application and fast funding. Depending on when you apply, you may get same-day approval and receive funds as soon as the next business day.
  • Autopay discounts. Sign up for autopay from a USAA account and get a rate discount of 0.25%.
  • No hidden fees. Pay no prepayment, application or other hidden fees.
  • USAA debt protection. You can pay a fee to protect yourself from unforeseen financial difficulties. You’re covered even if you can’t make payments.

What to watch out for

  • Must be military to apply. USAA loans are only available to current and former members of the US military and their families.
  • Not ideal for excellent credit. With rates from 8.99%–10.99%, USAA might not the most competitive financing option for borrowers with excellent credit.
  • Strong credit required. You’ll still need to have at least a good credit score to qualify for a USAA loan.

How do I apply?

To apply for a personal loan with USAA, you must

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

Visit USAA online and click Join USAA to get started. 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.

USAA personal loan screenshot

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.

What do I need to apply?

  • Your personal information, including your date of birth and Social Security number.
  • Details about you or your family member’s military service.
  • Your current employment and financial information.

I got a USAA personal loan. Now what?

Once you have your USAA personal loan, keep up with monthly payments to avoid paying unnecessary fees.

  • Make timely payments. Avoid the 5% penalty on your late payments with autopay.
  • Sign up for autopay. Get a rate discount of 0.25% when you sign up for autopay through a USAA checking account.
  • Pay more than the minimum. To avoid excessive interest over the life of your loan, consider paying more than the amount required each month.

Bottom line

USAA loans offer competitive fixed rates with quick approval and flexible repayment options, but you must be eligible for USAA membership. 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

★★★★★ — 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.

Aliyyah Camp

Aliyyah Camp is a publisher for finder.com helping folks compare personal, student, car and business loans. When she's not helping people with their personal finances, you can find her going for runs outdoors.

Was this content helpful to you? No  Yes

US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Monevo Personal Loans

Quickly compare multiple online lenders with competitive rates depending 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)

No fees. Multiple member perks such as community events and career coaching.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    AlokoaMay 4, 2018

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

    • finder Customer Care
      JhezelynMay 4, 2018Staff

      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

US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Monevo Personal Loans

Quickly compare multiple online lenders with competitive rates depending 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)

No fees. Multiple member perks such as community events and career coaching.

Go to site