USAA Personal Loans Reviews

Military service members and pre-commisioned officers, as well as their spouses and children, can benefit from a USAA personal loan. With competitive interest rates starting at 9.74% as of publishing, you can avoid the higher interest rates of competing lenders.

But if you don’t meet the military qualifications for a USAA personal loan, you’ll need to seek out an alternative lender that offers comparable rates. Although it might be difficult to find a lender with rates as low as USAA, those with a good credit history can still find low rates elsewhere.

USAA only offers one type of personal loan, which can be used to cover expenses big and small, with loan amounts ranging from $1,000 to $100,000. These loans come with terms of 12 to 84 months, which you can customize based on your borrowing needs.

USAA also offers a variety of vehicle loans, including auto, RV, boat, motorcycle and leisure vehicle loans.

USAA offers competitive personal loan rates, ranging from 9.74% to 18.51% annual percentage rate (APR) as of publishing.

To get the best rate, you’ll need to sign up for autopay, which will automatically withdraw the cost of your bill each month from your connected bank account. Unfortunately, USAA doesn’t disclose the amount of this discount.

USAA doesn’t charge fees to its members and specifically states that members can expect not to pay application fees or prepayment penalties.

To apply for a personal loan through USAA, you’ll need to follow these simple steps:

1. Become a USAA member: If you aren’t already, you must sign up for a USAA membership to apply for a personal loan.
2. Apply online: Fill out USAA’s online application with information about yourself and the loan you need. This includes details about your employment, housing and income.
3. If approved, customize your loan: USAA allows you to choose your loan term after your application is approved. Then, you can sign your documents entirely online or in its mobile app.
4. Wait for loan disbursement: You can expect your loan funds to be sent to you within two days of loan approval. However, this timeline could be extended if USAA needs you to provide additional documentation.

USAA is a legitimate bank serving military service members and their families. Its personal loans come with low interest rates and customizable terms, and it also offers banking, insurance, investing and retirement planning products and services.

As of publishing, USAA reports $204 billion in assets and 13 million members. It also promises a commitment to security and reports that, in 2022, it shut down more than 1,500 phishing sites and more than 7.5 billion cyberattacks targeting members.