- Best Personal Loans for Veterans in 2025
- What are personal loans for veterans?
- When to consider a personal loan as a veteran
- How to choose the best personal loan for veterans
- What veterans need to qualify for a personal loan
- How to get a personal loan for veterans
- Other financial resources for veterans and active duty military
- Methodology
- Recap
- About the authors
Upstart:
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 5 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Universal Credit:
Qualifications:
Key Facts:A Universal Credit loan is a sound option for bad-credit borrowers looking to build credit, but rates are high compared to similar lenders.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
Upgrade:
Qualifications:
Key Facts:Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Avant:
Qualifications:
Key Facts:Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high.
Qualifications:- Minimum credit score: 550. Avant uses FICO score version 8.0 and VantageScore version 3.0 from TransUnion.
- Minimum monthly net income: $1,200. This lender accepts income from employment alimony, retirement, child support, Social Security payments or disability benefits.
- Must be a resident of a state where Avant’s loans are available.
- Must provide a Social Security number.
- Must have a personal bank account in your name.
- No active bankruptcies.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: Up to 9.99%.
- Late fee: $25.
- Nonsufficient funds fee: $15.
LendingClub:
Qualifications:
Key Facts:LendingClub personal loans are a solid option for good- and fair-credit borrowers looking to consolidate debt and build their credit.
Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
Best Egg:
Qualifications:
Key Facts:Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
Qualifications:- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 0.99% - 9.99%.
USAA Personal Loan:
Est. APR
10.19-17.74%
Loan amount
$1K-$100K
Min. credit score
None
Qualifications:
Key Facts:USAA offers fast personal loans to members and includes a wide range of loan amounts and terms to choose from.
Qualifications:- Must be a USAA member.
Available Term Lengths:1 to 7 yearsFees:- Origination fee: None.
- Late fee: 5% of the loan payment.
- Returned payment fee: $25.
Navy Federal Credit Union Personal Loan:
Qualifications:
Key Facts:Navy Federal Credit Union personal loans may be a good fit for most members, thanks to flexible amounts, consumer-friendly features and quick funding time.
Qualifications:- Must be a Navy Federal Credit Union member to apply.
- No minimum credit score requirement.
- Must provide personal information and contact details.
- Must provide information on income and employment.
Available Term Lengths:1 to 5 yearsFees:- Origination fee: None.
- Returned payment fee: $29.
- Late fee: $29.
- Federal Express fee: $5.65.
- Certified Mail fee: $5.83.
Upstart:
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 5 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Universal Credit:
Qualifications:
Key Facts:A Universal Credit loan is a sound option for bad-credit borrowers looking to build credit, but rates are high compared to similar lenders.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
Upgrade:
Qualifications:
Key Facts:Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Avant:
Qualifications:
Key Facts:Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high.
Qualifications:- Minimum credit score: 550. Avant uses FICO score version 8.0 and VantageScore version 3.0 from TransUnion.
- Minimum monthly net income: $1,200. This lender accepts income from employment alimony, retirement, child support, Social Security payments or disability benefits.
- Must be a resident of a state where Avant’s loans are available.
- Must provide a Social Security number.
- Must have a personal bank account in your name.
- No active bankruptcies.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: Up to 9.99%.
- Late fee: $25.
- Nonsufficient funds fee: $15.
LendingClub:
Qualifications:
Key Facts:LendingClub personal loans are a solid option for good- and fair-credit borrowers looking to consolidate debt and build their credit.
Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
Best Egg:
Qualifications:
Key Facts:Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
Qualifications:- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 0.99% - 9.99%.
USAA Personal Loan:
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:USAA offers fast personal loans to members and includes a wide range of loan amounts and terms to choose from.
Qualifications:- Must be a USAA member.
Available Term Lengths:1 to 7 yearsFees:- Origination fee: None.
- Late fee: 5% of the loan payment.
- Returned payment fee: $25.
Navy Federal Credit Union Personal Loan:
Qualifications:
Key Facts:Navy Federal Credit Union personal loans may be a good fit for most members, thanks to flexible amounts, consumer-friendly features and quick funding time.
Qualifications:- Must be a Navy Federal Credit Union member to apply.
- No minimum credit score requirement.
- Must provide personal information and contact details.
- Must provide information on income and employment.
Available Term Lengths:1 to 5 yearsFees:- Origination fee: None.
- Returned payment fee: $29.
- Late fee: $29.
- Federal Express fee: $5.65.
- Certified Mail fee: $5.83.
What are personal loans for veterans?
Personal loans for veterans are typically unsecured loans offered by banks, credit unions and online lenders. These loans range from $1,000 to $50,000 and are repaid in fixed monthly installments, spread out over several years. Personal loans are available to veterans even if they have bad credit (any score between 300 to high 500s).
When to consider a personal loan as a veteran
The best reason to use a personal loan is when it’s the least costly method of borrowing and it helps you realize a financial goal, such as consolidating your debt at a lower rate or increasing the value of your home with a home improvement project.
However, many borrowers use a personal loan to cover a large, unexpected expense, like an emergency car repair. Personal loans are a better option than high-interest alternatives like payday loans, since they’re easier to repay and can even help build your credit score.
It’s important to go with a reputable provider when applying for a personal loan. Compare multiple offers from lenders to find the best deal and check your budget to make sure you can afford the monthly payments.
How to choose the best personal loan for veterans
There are a few things to consider as you compare personal loans.
APR: The annual percentage rate includes the loan’s interest rate and any fees, and it’s the best way to measure affordability. For example, a two-year $5,000 loan with a 15% APR would cost $818 in interest. The same loan with a 10% APR would cost $537 in interest. The lower the APR, the cheaper it is to borrow the money.
Monthly payments: Consider a personal loan only if you're certain you can afford the monthly payments for the full term. Missing loan payments can lead to costly fees and lower your credit score.
Repayment term: Repayment terms on personal loans usually range from two to seven years, though longer terms are available from some lenders. If you choose a longer repayment term, you’ll have lower monthly payments, but you’ll also pay more in interest.
Funding time: Online lenders tend to fund loans faster than banks or credit unions, which can take up to a week to deposit the money into your account after you’re approved. Many online lenders promise next- or same-day funding.
Special perks: Lenders might offer other benefits that may appeal to you. For example, if you’re using a loan to consolidate debt, search for lenders that will pay your creditors directly so you don’t have to. Other lenders may include free financial education or a free monthly credit report as part of their loan product. Some lenders may offer special perks to active duty or retired military, like a rate discount.
» COMPARE: Best debt consolidation loans
What veterans need to qualify for a personal loan
When reviewing your personal loan application, lenders will consider your credit score, credit history, income and existing debts.
A loan applicant with good to excellent credit (a score in the mid-600s or higher) is most likely to qualify for a personal loan with a low rate. However, some lenders specifically cater to applicants with bad credit and limited credit history.
Lenders may also ask about income to make sure you can afford the monthly payments. Include all sources of income in your application, such as disability benefits or rental income.
Lastly, lenders may review your debt-to-income ratio, which is the percentage of your monthly income that goes toward paying off debt. A DTI below 36% is ideal, but some lenders accept borrowers with more debt.
How to boost your chances of qualifying
If you have bad credit, low income or a high debt-to-income ratio, you can boost your chances of qualifying for a personal loan with a joint, co-signed or secured loan.
Joint loans and co-signed loans involve adding another person — ideally with better credit or more income — to your loan application. This person is equally responsible for loan repayment and, depending on the type of loan you choose, may have access to the loan funds.
A secured loan involves tying collateral to the loan, like a car or an investment account. This helps guarantee the loan, which makes the lender more likely to approve you, but you risk losing the collateral if you fail to repay the loan.
How to get a personal loan for veterans
1. Check your credit
You can get your free credit score at AnnualCreditReport.com or by signing up for a NerdWallet account. If you have time before applying, look for quick ways to build your score, such as disputing errors on your credit report, paying down any small debts or asking for a credit limit increase on existing credit lines.
2. Pre-qualify with multiple lenders
Pre-qualifying is one of the best ways to determine whether a personal loan is the right choice. The process lets you preview potential loan terms, including APR, loan amount and monthly payments, without impacting your credit score.
3. Submit an application
Once you’ve chosen an offer, it’s time to apply. Personal loan applications are typically available online. You’ll be asked to provide basic personal information, including your Social Security number, and contact information like a home address, phone number and email address.
You also may be asked to include proof of identification and proof of employment and income.
» MORE: How to get a personal loan
4. Get funded
After submitting your application, approval time can be instantaneous or take a few days, depending on the lender. Expect your loan to be funded within a week. Many online lenders say they can fund a loan the same or next day after approval.
Once you receive the funds in your account, make a plan to repay the loan. Missing even one payment can hurt your credit score and trigger late fees.
Other financial resources for veterans and active duty military
Veterans seeking personal loans or short-term emergency cash may have other resources such as grants, which provide free money with no repayment required, and financial assistance.
These are just a few of the many resources available to veterans. A complete list of veterans service organizations can be found through the Department of Veterans Affairs.
Federal benefits
U.S. Department of Veterans Affairs: The VA’s annual guide to federal benefits for veterans, dependents, survivors and caregivers offers information on disability compensation, housing grants for disabled veterans and educational assistance.
U.S. Government Guide to Military Pay and Benefits: The U.S. Government maintains a webpage dedicated to military pay and retirement benefits (including pensions), plus tuition assistance, health benefits and burial and survivor benefits.
Job training and placement
Blue Star Families: This nonprofit organization helps connect military families with free services, including career development training for military spouses.
Hiring Our Heroes: The U.S. Chamber of Commerce Foundation launched this nationwide initiative to help veterans, transitioning service members and military spouses find employment. Hiring Our Heroes hosts hiring fairs and education and networking programs, and offers a corporate fellowship program.
Grants
VFW Financial Assistance for Service Members Program: The Veterans of Foreign Wars offers this program for military families who have financial difficulties stemming from deployment or other military-related activity or injury. It provides grants up to $2,500 and can be used for eligible expenses, which include household expenses, vehicle expenses, utilities, childcare and medical bills.
American Legion Temporary Financial Assistance Program: This nonprofit veterans organization awards cash grants of up to $2,500 to children of current active duty military or American Legion members to help meet an urgent need.
Business grants and resources for veterans: Veterans who are looking to start a business or who are existing business owners can seek financial assistance through the Small Business Administration, which offers funding, training and federal contracting opportunities for veterans, as well as resources for military spouses.
Grants and resources for disabled veterans: The Department of Defense publishes a comprehensive Compensation and Benefits Handbook for wounded, ill and injured service members of the armed forces. It covers medical care, family and caregiver support, Social Security benefits and more.
Last updated on July 3, 2025
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