Navy Federal Personal Loans: 2025 Review

Best for military members

Former and current service members and their families in need of a personal loan would best benefit from a Navy Federal loan. This is because Navy Federal has fairly tight membership eligibility requirements. It also offers discounts for active duty and retired military service members.

Navy Federal personal loan purposes 

You can use a Navy Federal Credit Union personal loan for nearly every legal expense. However, it does state on its website that you can't use the funds for education-related expenses. 

The specific use requirements may vary depending on the loan type, so read the terms and conditions carefully before accepting your offer. Home improvement loans, for example, are the only type of personal loans from Navy Federal that have terms up to 15 years.

Where Navy Federal personal loans stand out 

• Small minimum loan amount: Navy Federal's $250 minimum is among the smallest minimum borrowing amount out of the lender's we've reviewed.
• Joint applications and secured options available: It's a rarity for lenders to offer both unsecured and secured loans options. Plus, the lender allows co-borrowers, which can make your loan more affordable. 
• Potential rate discounts: Active Duty or retired military members can get a 0.25 percent APR discount on certain loans. As a member of the credit union, you'll also be eligible for exclusive discounts and special offers on a plethora of services and products. 

Where Navy Federal personal loans falls short 

• Must meet the membership requirements: Applicants must be or have a family or household member who is a retired or active duty service member or has ties to the Department of Defense (DOD) or National Guard.  
• No prequalification option: Unlike most lenders, Navy Federal doesn't have a prequalification option, so you'll need to apply to see if you're eligible. 
• Minimum financial requirements not disclosed: The credit union doesn't disclose most of the minimum financial requirements that are needed for approval. 

Navy Federal customer resources

Customer support

Navy Federal's customer service department is accessible by phone 24/7. You can also get in contact with a representative through its secure messaging system on its website, in-person at one of its brick and mortar locations, through its online chat feature or through social media messaging. 

Digital experience 

Navy Federal's digital app offers an online chat and e-messaging features and is compliant with Android and iOS accessibility features. Its app has an overall rating of 4.9 from over 812,000 reviews on the App Store as of Jan. 15, 2025.

The lender also offers online resources and calculators within its MakingCents feature. Along with offering tools for nearly every financial topic, members can click into folders containing content for those just starting out, individuals looking to balance life and finances and those who are in the process of maximizing their finances. 

How this lender compares

Do you qualify for a Navy Federal personal loan? 

Although Navy Federal doesn't disclose its minimum annual income or credit requirements, it does disclose that borrowers must meet the following requirements to qualify for a personal loan. 

• Have served — or currently serve — in the U.S. armed forces, Department of Defense or have a relative or household member who has. 
• Be at least 18 years old. 
• Have an active credit card, bank account or routing number. 
• Have a valid Social Security number. 
• Provide your current home address.
• Provide a U.S. driver's license or a government-issued ID.

How to apply for a personal loan with Navy Federal 

1. Become a member: Navy Federal doesn't offer a prequalification option for its personal loans and you must first become a member before you can apply. 
2. Add information and finalize your application: The process is entirely online and takes a few minutes. Its website states that you'll need basic contact, housing and employment information for you and your co-applicant, if you have one.
3. Review the loan details: After you've finished the application, you'll be given the opportunity to review and sign the loan agreement electronically. Your funds will be automatically deposited into your account in as soon as 24 hours once you sign the agreement. 

How Bankrate rates Navy Federal