Best Personal Loans for Veterans in 2026

More about our picks for the best personal loans for veterans

These lenders, each available in all 50 states, cater to a range of credit scores and specific needs. We chose lenders that cater to a range of credit scores and specific needs.

Navy Federal Credit Union: Overall best personal loan for veterans

In our latest review, Navy Federal earned five out of five stars for affordability, thanks largely to its competitive rates. Like other federally-chartered credit unions, Navy Federal caps rates at 18%. By comparison, some highly rated online lenders and banks have maximum APRs closer to 25% to 35%. Plus, Navy Federal offers a rate reduction of 0.25 percentage point for retired or active duty military members.

Navy Federal, which is open to military members, Department of Defense employees, veterans and their families, also offers a wide range of repayment terms and loan amounts. Loans go up to $150,000, which is one of the highest maximums of the nearly 40 lenders we review. You can also secure your loan with collateral or repay it with a co-borrower.

The downside: Unlike with most lenders, you can’t pre-qualify with a soft credit check. To see whether you’re approved and to view your potential rates, you need to submit a formal application. That triggers a hard credit check, which temporarily lowers your score by a few points.

USAA: Best for joint loans for veterans

USAA Federal Savings Bank — which serves active-duty service members, veterans and their families — offers both individual and joint loans. Applying with a co-borrower who has stronger credit or income may help you qualify or get a lower rate than you would otherwise. That co-borrower shares access to loan funds and responsibility for repayment.

Note that, like Navy Federal, USAA doesn’t let you pre-qualify. You need to submit a formal application, meaning a hard credit check.

Patelco Credit Union: Best for secured loans

If you want to improve your chances of approval or getting a lower rate, you could opt for a secured loan through Patelco. You can use a savings account or vehicle as collateral, though you risk losing them if you don’t repay the loan.

The credit union also lets you apply with a co-signer or co-borrower, which may help you snag a lower rate. These opportunities are on top of low APRs that range from 6.99% to 17.90%.

Note that you have to become a credit union member to get a loan, and funding can take two or three days — longer than with the other lenders on the list.

Upgrade: Best for debt consolidation loans

If you use an Upgrade loan to consolidate multiple debts, the online lender can send loan funds directly to your creditors — and potentially reduce your rate by 1 to 4 percentage points if you do.

Upgrade also has a relatively low minimum credit score requirement of 600 and multiple ways to improve your odds of qualifying. You can apply with a co-signer with better credit or secure your loan with your vehicle as collateral.

One drawback is Upgrade’s origination fee of 1.85% to 9.99%.

Upstart: Best for borrowers with bad or thin credit

Upstart is a standout lender in its own right, with the lowest minimum APR on this list, 6.2%, and fast funding. But what makes it unique is how it approves applicants. While most other lenders heavily weigh credit scores and histories, Upstart considers factors like education and work history. The online lending platform also has no minimum credit score, making it a strong choice if your credit is checkered or thin.

The downside is Upstart’s origination fee, up to 12%. Lenders that charge this fee typically cap it below 10%.

Discover: Best for borrowers with strong credit

Discover tied for the highest overall rating (4.8 out of 5) in our most recent evaluation of lenders, thanks in part to its low minimum APR and next-day funding. But what stands out most: Discover doesn’t charge any fees. There’s no fee for late or returned payments or insufficient funds, and there’s no origination fee — a common upfront cost with many online lenders.

But you need strong credit to qualify. Discover has the highest minimum credit score on this list, 660, and told us it works primarily with borrowers who have good or excellent credit.

How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

30+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

60+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.

Affordability

25%

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.

NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

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How to get a personal loan

Check your credit

Lenders heavily weigh your credit score when determining whether you qualify, as well as for what amount and rate. Check your credit score and compare it to lenders’ minimums, if they have one. This move can help you decide which lenders to pursue and what to expect.

If your credit is fair or bad (below 689) and you have some time, consider ways to boost your score. Lenders may also be more favorable if you take out a secured loan or a joint or co-signed loan with a more creditworthy applicant.

Pre-qualify and compare offers

Pre-qualifying doesn’t affect your credit score and presents you with potential rates and terms. Pre-qualify with multiple lenders so you can compare.

If you think Navy Federal, USAA or another lender that doesn’t let you pre-qualify is a strong fit, then just remember that applying will trigger a hard pull and knock a few points from your credit score.

Once you receive offers, focus on their APRs. Annual percentage rate reflects both the loan’s interest and its upfront origination fee, if there is one. So it's the best way to compare offers — typically, the lower the APR, the less expensive the loan. Also look into any available rate discounts, fees and funding time. Here are the features to check when comparing personal loans.

Apply for the loan and receive your funds

After you’ve chosen your offer, it's time to officially apply and sign once you’re approved. Depending on the lender, you’ll receive the funds within a day or up to a week, then your first payment would be due about 30 days later.

If your personal loan application is denied

A denial can be demoralizing and potentially derail your plans, but there are ways to set yourself up for a better outcome the next time you apply. Here’s what to do next.

Learn why you were denied

Lenders must send an adverse action notice that discloses the specific reasons your application was denied or lets you know you have up to 60 days to ask why, according to the Equal Credit Opportunity Act.

Use this information to determine your next steps. If your credit was too low, for example, check that your credit report is accurate and doesn’t include errors that are bringing down your score.

For more guidance, review the top reasons personal loan applications are denied and what to do next.

Consider pre-qualifying for another lender

If you’re denied for a reason that other lenders will likely flag — like if your income wouldn’t cover monthly payments — aim to address that issue before applying with another lender.

Otherwise, research lenders that are a better fit than the one that denied you. If your credit was a problem, for example, try lenders that cater to borrowers with bad credit.

Before formally applying again, pre-qualify if you can. That lets you check potential rates and terms with a soft credit check, without another hard inquiry.

Look into a borrowing alternative

If you need money but a personal loan isn’t in the cards, consider borrowing from a family member. If you can’t cover basic needs, call 2-1-1 or visit 211.org to be connected to find local assistance programs.

One route to avoid if at all possible: payday loans. These are high-cost, no-credit-check loans with extremely expensive rates and short repayment periods. Thirteen percent of veterans have used a payday loan or cash advance, which is another kind of short-term, expensive borrowing. That’s compared with 9% of the general population, according to a 2025 National Foundation for Credit Counseling survey.

Tap veteran-specific resources

While a personal loan with an affordable APR can be a solid option for covering an expense, it’s not your only one. If you’re denied a loan, not approved for the amount you need or can’t afford payments, consider alternatives that are tailored to veterans’ needs.

The U.S. Department of Veterans Affairs’ National Veterans Financial Resource Center, called FINVET, helps connect veterans with financial resources. Explore them on the FINVET website.

If you're struggling to cover emergency expenses: FINVET lists organizations that, depending on your situation and eligibility, may provide direct financial assistance in the form of no-interest loans or grants. These resources are typically meant to cover cover essential expenses, such as housing payments or utility bills.

If you’re considering a loan to consolidate debt. FINVET’s Debt Destroyer course and tool may help you explore ways to pay down debt without taking out a new loan. The FINVET website can also connect you to the Veterans Benefits Banking Program (VBBP), which offers’s three free financial counseling sessions covering. These cover debt-reducing strategies, among other topics.

If your credit is making it hard to get a loan. Those VBBP financial counseling sessions also cover ways to improve your credit score, which could help you qualify for a loan or get a lower rate than you’d get otherwise.