PenFed Credit Union Personal Loans review: how does it work and is it good?

Here's a PenFed Credit Union Personal Loan review to determine if it is right for you. Learn the requirements, who can apply, and why this may be your best option to get a personal loan. Read on!


PenFed Credit Union Personal Loans: Quick Cash with no hassles!

PenFed Credit Union logo
Understand how Penfed Credit Union Personal Loans work. Read on! Source: PenFed

Do you need fast cash to cover a home improvement expense or consolidate debt? We can help you! You’ll find everything you need to know in this PenFed Credit Union Personal Loans review.

PenFed Credit Union logo

How to apply for PenFed Personal Loan

Understand how you can apply for PenFed Credit Union Personal Loans and get the bets rates! Here's what you need to know. Read on!

You’ll understand how this personal loan works, how much you can borrow, and decide if it fits your needs. Do you want to know more? Keep reading!

  • APR: Variable APR of 7.74% to 17.99%;
  • Loan Purpose: Debt consolidation, home improvement, transportation, medical & dental, life and events;
  • Loan Amounts: From $600 to $50,000;
  • Credit Needed: 690 or higher;
  • Origination Fee: It doesn’t charge an origination fee;
  • Late Fee: You’ll be charged a fee after some days from your repayment due date if you don’t make your payments;
  • Early Payoff Penalty: It doesn’t charge an early payoff penalty.

What is the PenFed Credit Union Personal Loan?

Bridesmaid helping bride fasten corset close-up and getting her dress, preparation concept in morning for wedding ceremony.
You can make your dreams come true with a personal loan from PenFed. Learn how! Source: Adobe Stock

The PenFed Credit Union is a popular unsecured personal loan that offers membership to active military members, veterans, and their families.

However, anyone out of the military can join their membership for free if they fit the requirements. It’s not exclusive to the military.

You can borrow from $600 to $50,000 with flexible terms of up to 60 months. Still, there is no early payoff penalty.

Borrowers can find this loan useful for many purposes, from covering transportation costs to home improvements, health costs, and much more.

PenFed personal loan has clear offers, with competitive rates without origination fees and no hidden fees.

Borrowers can pre-qualify, so they might have a clearer idea of how much they will be paying. Finally, they offer an app to track your loan process and find 24/7 customer service.

Is the PenFed Credit Union Personal Loan Good?

PenFed Credit Union Personal Loan can be handy in times of need. Consider the pros and cons below.


  • There are no hidden fees;
  • The online application allows a pre-qualification if you want;
  • You don’t need to worry about prepayment or origination fees;


  • There aren’t many options to choose from or change payment dates;
  • You must be a credit Union member to apply.

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Does the PenFed Credit Union Personal Loan check credit scores?

Yes, Penfed Credit Union Personal Loan checks credit scores as a requirement. As a requirement to borrow from them, they request applicants to have a 600 score or higher.

Want to get the PenFed Credit Union Personal Loans? We will help you!

Did you enjoy our PenFed Credit Union Personal Loans review? It can be your way out to cover those unexpected expenses that come out sometimes.

Learn how to apply for a loan with them and get the cash you need in your hands! Keep reading and check out our post below.

PenFed Credit Union logo

How to apply for PenFed Personal Loan

Understand how you can apply for PenFed Credit Union Personal Loans and get the bets rates! Here's what you need to know. Read on!

About the author  /  Suzana Brito

I'm a Language Studies graduate and have always been interested in writing and sharing knowledge. By creating content about finances and related products, I believe in contributing to people achieving financial freedom and their goals in life.

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