Our picks for the best personal loans for veterans are from Navy Federal Credit Union, LightStream, SoFi and Upgrade.
Jump to insightPersonal loans for veterans may offer benefits like loan discounts, lower rates or free services.
Jump to insightVeterans have financial assistance options available to them, which may be a better option than a personal loan.
Jump to insightCompare top 4 best personal loans for veterans
For our list of the best personal loans for veterans, we looked at both military-specific financial institutions and other top lenders. We considered annual percentage rates (APRs), repayment timelines, loan amounts, fees and minimum credit scores to help us make our selections.
Our picks may be Authorized Partners who compensate us. This doesn’t affect our recommendations or evaluations, but it may affect the order in which the companies appear.
Our picks for the best personal loans for veterans come from:
- Loan amounts
- $250 to $50,000
- Term lengths
- Up to 15 years
- Minimum credit score
- Not specified
- Loan amounts
- $5,000 to $100,000
- Term lenghts
- 2 to 20 years
- Minimum credit score
- 670 to 700
Partner Disclosures
SoFi disclosures
Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
- Loan amounts
- $5,000 to $100,000
- Term lengths
- 2 to 7 years
- Minimum credit score
- Not disclosed
Partner Disclosures
SoFi disclosures
Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
- Loan amounts
- $1,000 to $50,000
- Term lengths
- 2 to 7 years
- Minimum credit score
- Not disclosed
Partner Disclosures
SoFi disclosures
Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
What is a personal loan for veterans?
A personal loan for veterans is generally the same as any other personal loan, although some lenders specialize in lending to the military community. For instance, some lenders only allow military members, veterans and eligible family members to borrow money, while others design loans specifically for the military community, such as relocation loans.
Personal loans for veterans often offer discounts or perks.
“These loans may have eligibility requirements that are more favorable to veterans or offer specific benefits, such as lower interest rates or more flexible repayment terms,” said Abby Waltz, CEO of Grow on Purpose Coaching.
“Additionally, some personal loans for veterans may come with perks such as free credit monitoring or loan discounts,” Waltz said. Plus, lenders may offer other helpful services from which veterans might benefit, like military-specific financial counseling or career transition services, Waltz said.
Where to find personal loans for veterans
Generally, you can find personal loans through banks, credit unions and online lenders. There are also lenders that cater to the military community, such as Navy Federal Credit Union, PenFed Credit Union and USAA, all of which offer personal loans to veterans.
Take the time to compare offers from multiple lenders, both general lenders and military-specific lenders, to find the best rates. And as you shop for a loan, always check if there's a veteran-friendly discount or program available.
“Many financial institutions offer perks or discounts for loans and banking services, but veterans may need to inquire specifically about them,” said Julie Soares, an associate director of financial readiness at Wounded Warrior Project, an organization that helps injured veterans navigate their finances at no cost to them.
» MORE: Where to get a personal loan
How to choose the best personal loan for veterans
Qualification criteria varies from lender to lender. To choose the best personal loan, pay attention to factors such as:
- Loan amounts: Look at a lender’s minimum and maximum loan amounts.
- Fees: Some lenders charge application fees, origination fees, prepayment penalties or late fees.
- APRs: The APR represents the total annual cost of borrowing money. Lenders must disclose APRs, though sometimes this information is in the fine print.
- Term lengths: Repayment terms for personal loans typically range from one to seven years, though some lenders offer longer terms.
- Repayment options: While your payment will be smaller with a longer repayment term, you’ll pay more total interest. Choose the shortest term you can afford.
- Requirements: Most lenders consider factors like your credit score, credit history, income, job stability and level of debt when evaluating your application.
How to get a personal loan
You’ll usually follow these steps to get a personal loan:
1. Check your credit score
Your credit score plays a big role in determining your loan eligibility and interest rate. You can check your credit score for free through an online bank account or credit card issuer.
If your score is below 670, consider taking steps to improve your credit before applying for a loan. This will help you to qualify for better rates and loan terms.
2. Shop around and compare lenders
Research multiple lenders, including those that cater specifically to veterans and military members. Check each lender’s personal loan requirements to gauge your likelihood of approval.
3. Get prequalified
Most lenders allow you to prequalify for a personal loan. This means you can see your estimated rates and terms without it affecting your credit score.
4. Prepare your documents
Before you apply, you’ll need to gather supporting documentation, such as your driver's license, passport or military ID. You’ll also typically need to provide proof of income, such as pay stubs or tax returns, and proof of address, such as a utility bill or lease agreement.
5. Apply for the loan
Fill out the lender's application form with your personal information, employment details, income, documents and reason for borrowing.
6. Review and accept the loan terms
If approved, the lender will send you the loan terms, including the APR, loan amount and repayment period. Carefully review the terms and ask questions if anything is unclear. If you're satisfied with the offer, accept the terms and sign the loan agreement.
7. Receive your funds
Once you've signed the agreement, the lender will disburse the funds to your bank account. It can take anywhere from a few hours to a few business days to receive your money.
Alternatives to personal loans for veterans
Veterans have access to various financial assistance options beyond personal loans. U.S. Department of Veterans Affairs (VA) benefits such as disability compensation, pension and education benefits (like the GI Bill) can help cover essential expenses.
"The Financial Readiness program at [Wounded Warrior Project] provides tools and resources to help veterans explore these opportunities tailored to their journey," Julie Soares said.
Don't be embarrassed to ask [about benefits]. You've earned these benefits through your service.”
Veterans may also qualify for grants designed to assist with specific needs, such as the Specially Adapted Housing (SAH) grant for home modifications.
Other financial assistance options for veterans include:
- VA loan program for buying, building or improving homes
- Small Business Administration (SBA) Veterans Advantage program for small business owners
- Military aid societies, which provide emergency financial help
- State-specific veteran benefits, such as property tax exemptions or tuition waivers
"Don't be embarrassed to ask [about benefits],” Soares said. “You've earned these benefits through your service."
» RELATED: What are relocation assistance programs?
FAQ
What are the eligibility criteria for a personal loan?
Each lender has its own eligibility criteria for its personal loans. Generally, it’ll consider your credit score, income, debt-to-income ratio and employment status. You’ll typically qualify for better rates and terms with a good to excellent credit score and a stable income.
Can I use a personal loan for any purpose?
Personal loans can be used for almost any purpose, including debt consolidation, home improvements, medical expenses or major purchases. However, you typically can’t use personal loans for education or business purposes, and some lenders may restrict other uses.
Can veterans with bad credit qualify for personal loans?
Veterans with bad credit may be able to qualify for personal loans with select lenders that cater to people with poor credit profiles. However, these loans typically come with more fees and higher rates, which increase the cost of borrowing.
If you’re unable to qualify for a personal loan with bad credit, you’ll need to take the time to improve your credit score first, consider applying for a secured loan or look into financial assistance programs for veterans.
What’s the difference between secured and unsecured loans for veterans?
A secured loan requires putting down collateral to get a loan, such as a car, home or savings account. An unsecured loan doesn’t require collateral. Most personal loans are unsecured loans, though secured loans are generally a good option for people with lower credit scores or no credit history.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- U.S. Department of Veterans Affairs, “Disability Housing Grants for Veterans.” Accessed Feb. 13, 2026.
- U.S. Department of Veterans Affairs, “Eligibility for VA Home Loan Programs.” Accessed Feb. 13, 2026.
- U.S. Small Business Administration, “Veteran-Owned Businesses.” Accessed Feb. 13, 2026.
- U.S. Department of War, “Military Support Organizations.” Accessed Feb. 13, 2026.
