#Debt consolidation loan calculator how to#

Here are some features to know about in particular. Navy Federal Credit Union perks and special featuresįor those who qualify, NFCU offers a lot of options and versatility with its personal loans.

Credit score and income requirements not disclosed.

Multiple unsecured and secured loan options with flexible terms.Ĭons of a Navy Federal Credit Union personal loan.

Variety of membership perks and discounts.

Pros of a Navy Federal Credit Union personal loan Should you agree to the terms of the loan, the money can be deposited into your account in as little as 24 hours. If you’re approved, you might be able to choose from various offers with different repayment terms and interest rates.

Information about your co-applicant, if applicable.

Your contact information, including phone number and email.

Current employment and income information.

Your desired loan amount and repayment term.

NFCU doesn’t provide specifics about its application process but recommends that you have the following information handy: If you’re not a member, you’ll need to review the membership criteria and join. To apply for a personal loan, you’ll need to first log in to your NFCU account.

#Debt consolidation loan calculator how to#

How to apply for a Navy Federal Credit Union personal loan So, you’ll need to submit an official application to determine your eligibility.įortunately, joint applicants are allowed, so if you can’t get approved on your own, you might be able to with the help of a parent, spouse or other trusted friend. What’s more, there’s no option to pre-qualify for a loan and gauge your approval odds without a hard credit check. Unfortunately, the lender doesn’t disclose its credit or income requirements publicly.

Department of Defense civilian employees and contractors.

Immediate family members of eligible service members, including spouses, parents, grandparents, siblings, children and grandchildren.

Active-duty and retired service members and veterans.

To qualify, you must belong to one of the following groups: Like other credit unions, NFCU has limitations on who can join and use its products and services, including its personal loans. How to qualify for a Navy Federal Credit Union personal loan Additionally, the Consumer Financial Protection Bureau (CFPB) received only 76 personal loan-related complaints about Navy Federal in 2022. The credit union isn’t accredited by the Better Business Bureau (BBB), but it has an excellent rating on Trustpilot. Since its humble beginnings, the credit union has grown to serve more than 13 million members, offering a wide range of financial products and services. NFCU was founded amid the Great Depression by a small group of employees of the U.S.

Funding time: As soon as the next day after approval.

Fees: No origination or prepayment fees.Discounts: Personal expense loan discount for active duty and retired military members (0.25%).Repayment terms: Up to 15 years (depending on loan type).