An In-Depth Guide To The USAA personal Loan: Everything You Need To Know
USAA Personal Loans
USAA Personal Loan: USAA Bank provides personal loans that can be used for almost any purpose. Members can borrow between $2,500 and $20,000.
Personal loans have always been an excellent source of funds for a variety of different reasons. In fact, personal loans are so popular that they’re often referred to as signature loans because, in order to qualify for one, you need to have a good credit score. The amount that can be borrowed depends on several factors including the applicant’s income and expenses.
Credit score needed for USAA personal loan: USAA offers medium loans, flexible terms, and minimal fees to active and retired military members and their families.
Apply for a USAA Personal Loans
- Anyone serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy, National Guard and Reserves.
- Former military members who have retired or been honorably discharged.
- Widows, widowers and former spouses (who have not remarried) of USAA members who joined USAA prior to or during the marriage, and children of members.
- Cadets and midshipmen at U.S. service academies, in advanced ROTC or on ROTC scholarship, and officer candidates within 24 months of commissioning.
Who can borrow USAA Personal Loans .
- Are current or eligible USAA members.
- Have good credit (690 FICO or higher).
- Would like to add a co-signer.
- Want fast funding.
USAA Personal Loans – flexibility
- Offers a small range of loan amounts.
- Allows changes to payment date.
- Funds loans the next business day.
- Does not offer direct payment to creditors for debt consolidation loans.
- Available in all 50 states and Washington, D.C.
Offers limited customer contact channels and hours.
Offers mobile app to manage loans.
Provides financial education
USAA offers a fully online process. Fast funding is common among lenders. Borrowers can add a co-signer to their application to help them qualify for the loan and potentially receive a lower rate.USAA offers a discount of 0.25% on its annual percentage rate to borrowers who set up automatic payments. This discount encourages borrowers to pay on time and can be as high as 0.50% for some lenders. USAA ALSO has a mobile app.
USAA does not publicly disclose any of its borrower requirements. Borrowers with good and excellent credit scores will likely qualify for the lowest rates.
Members can fill out an application on USAA’s website.
How It USAA Personal Loans Works
- Apply Online-It only takes a few minutes to fill out the application.
- Learn Your Rate-If you’re approved, in most cases we’ll show your rate right away.
- Get Your Money-Once approved, receive funds in your USAA Bank account within 24 hours Monday through Friday.
Personal loans from USAA can also be funded quickly. A decision normally takes one business day, and money takes one to three business days after approval.