USAA personal loans review April 2018 | finder.com

USAA personal loans review

Get a personal loan for home improvements, vacations and unplanned expenditures through this highly respected bank.

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Founded in 1922 as an auto insurance company, USAA has grown to be a leading financial institutions serving military members and their families. Read more about personal loans available to eligible customers.

What is a USAA personal loan?

USAA personal loans can get you quick approval on the money you need starting at $2,500. Funding comes in one lump sum with fixed APRs and terms from 12 to 84 months. Predictable monthly payments make it easy to pay off your loan, and autopay from a USAA checking account can shave 0.25% off your rate.

Product details

Product nameUSAA personal loan
Loan securityUnsecured
Interest rate typeFixed
Minimum loan$2,500
Maximum terms72 months with excellent credit
Application fee$0
Late fee or penalty5% of minimum payment
Serviced statesAll 50 states, including Washington, DC

Compare your other personal loan options

Rates last updated April 24th, 2018

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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.
580
$100,000
4.99%–35.99% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
580
$100,000
3.09%–35.99% (fixed)
Upgrade Personal Loans*
Affordable loans with two simple repayment terms and no prepayment penalties.
620
$50,000
5.96%–35.97% (fixed)
Prosper
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
640
$35,000
5.99%–35.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
5.98%–35.89% (fixed)
CompareFirst Personal Loans
An easy-to-use loan connection service geared toward introducing first-time borrowers to affordable personal loans.
580
$50,000
2.99%–36% (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640
$35,000
5.99%–29.99% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
640
$35,000
4.99%–29.99% (fixed)
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
5.5%–11.74% (fixed)
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
600
$25,000
15.49%–34.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34%–155% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$25,000
typically around 18.49%* (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 receive same-day approval and funds by 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 — meaning you’re covered if you can’t make payments.

What to watch out for

USAA loans are available to current and former members of the US military and their families only. If you’re not able to get a USAA membership, you’ll have to look elsewhere for a personal loan.

How do I apply?

To apply for a personal 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.

What do I need to apply?

To apply for a USAA personal loan, you must first become an USAA member. Visit USAA online and click Join USAA to get started.

If you’re already a member, log in to your USAA member account. For the personal loan application, you’ll need to supply:

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

USAA personal loan

Once you’ve submitted your info, a specialist considers your loan request against your creditworthiness. You’re usually notified of the loan decision within one to two business days.

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 — and get a rate discount of 0.25% 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. But you must be eligible for USAA membership, which is open to members of the military or those who are part of a military family only. If you don’t meet those criteria, you can compare other personal loan options to find a good fit for you.

Common questions about USAA personal loans

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US Personal Loans Offers

Important Information*
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Prosper

Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

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.

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