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Navy Federal Credit Union Personal Loans Review 2021 – Forbes Advisers

NFCU isn’t your only option when it comes to a personal loan. Here are some similar personal lenders and how they compare:

Navy Federal Credit Union vs. USAA

USAA is another credit union aimed at veterans and military personnel. However, the loan amounts are not good compared to NFCU. For example, USAA only offers personal loans between $ 2,500 and $ 20,000, while NFCU offers loans between $ 250 and $ 50,000.

However, if your focus is on loan terms, the right credit union for you will depend on your loan purpose. If you plan to use the funds on home improvement projects, NFCU offers terms of up to 180 months or 15 years. But if you’re using your money on personal expenses or debt consolidation, USAA offers terms of up to seven years versus NFCUs of five years.

Related: USAA Personal Loans Rating

Navy Federal Credit Union vs. PenFed

Although PenFed originally only served veterans and military personnel, anyone can now become a member. It offers maturities between 12 and 60 months, which is the same as the NFCU, unless you are using your loan for home improvement. In this case, NFCU offers terms of up to 180 months or 15 years.

Additionally, personal expenses and debt consolidation loan amounts are similar for both: NFCU offers loans between $ 250 and $ 50,000, while PenFed offers loans between $ 600 and $ 50,000.

Related: PenFed Personal Loan Review

Navy Federal Credit Union vs. SoFi

SoFi is for the general public and has the lowest interest rates and highest loan amounts of any of the three alternatives. For example, the personal loans range from $ 5,000 to $ 100,000.

SoFi also offers unique benefits that are difficult to find elsewhere. For example, it offers an unemployment protection program that, if approved, will tolerate your loan and help you find a new job.

Related: SoFi Personal Loan Review

Tags : interest ratespersonal loans
Richard Dement

The author Richard Dement