PenFed Credit Union Personal Loans
in Personal Loans from PenFed Credit Union
Would you recommend PenFed Credit Union Personal Loans to your friends?
| Community Rating | Strongly recommended |
| Loan Amount | $500 - $25,000 |
| APR (Variable APR) | Starting at 6.49% |
| Loan Term | 1 - 60 months |
PenFed Credit Union Personal Loans Review
PenFed Credit Union Personal Loans is a personal loan offering by PenFed Credit Union, a credit union based in Alexandria, VA. Founded in 1935, PenFed Credit Union offers access to personal loans in 50 states (and Washington, DC).
What rates and terms does PenFed Credit Union Personal Loans offer?
What personal loan APRs does PenFed Credit Union Personal Loans offer?
PenFed Credit Union Personal Loans offers a variable APR personal loan product that ranges from 6.49% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via PenFed Credit Union Personal Loans?
Loan amounts start at $500 and go up to $25,000.
What can a personal loan from PenFed Credit Union Personal Loans be used for?
Personal loans from PenFed Credit Union Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.
What is the maximum loan term you can get with PenFed Credit Union Personal Loans?
PenFed Credit Union Personal Loans offers personal loans with terms ranging from 1 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
| Loan Amount | $500 - $25000 |
| Loan Term | 1 - 60 months |
| APR | Starting at 6.49% |
What fees does PenFed Credit Union Personal Loans charge?
Does PenFed Credit Union Personal Loans charge an origination fee?
PenFed Credit Union Personal Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does PenFed Credit Union Personal Loans charge a late fee?
Yes, PenFed Credit Union Personal Loans may charge borrowers a late payment fee of up to $25
Does PenFed Credit Union Personal Loans charge prepayment fees?
No, PenFed Credit Union Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
| Origination Fee | 0% |
| Prepayment Fee? | No |
| Late Payment Fee | $25 |
What do you need to qualify for a loan with PenFed Credit Union Personal Loans?
Applicants with a credit score of at least 700 can apply for a loan via PenFed Credit Union Personal Loans. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
PenFed Credit Union Personal Loans only considers borrowers who are employed.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via PenFed Credit Union Personal Loans. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Government Issued Photo ID
| Minimum Age | 18 |
| Bank Account Required? | No |
| Joint Applications Accepted? | Yes |
| Credit Score | 700 - 850 |
What is the estimated funding time for a personal loan via PenFed Credit Union Personal Loans?
PenFed Credit Union Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 14 business days of approval.
Does PenFed Credit Union Personal Loans report loan payments to credit bureaus?
PenFed Credit Union Personal Loans may report credit data to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Contact
- Headquarters
-
2930 Eisenhower Avenue
Alexandria, VA 22314 USA - (800) 247-5626
- Visit Site
Other Services by PenFed Credit Union
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| No Origination Fee | |
| No Prepayment Fee | |
| Origination Fee ($) | $0 |
| Origination Fee | 0% |
| Late Fee Amount | $25 |
PenFed Credit Union Personal Loans Community Reviews
Would you recommend PenFed Credit Union Personal Loans to your friends?
