PenFed Medical Loan Review

Medical Loan from PenFed - see full info about rates, terms, credit score.

Updated September 18, 2023
4.64 out of 5
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Check your personal loan rates

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APR Range
7.99 - 17.99%
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Amount
up to $50,000
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Term
up to 60 months
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Minimum credit score:
Good (670-739)
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No early payoff penalty
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No origination fee

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Options

Fees

  • Origination fee
    No origination fee.
  • Early payment fee
    No early payment fees.
  • Late fee
    $29
  • Returned check fees
    $30

Pros & Cons

Pros:
  • Fast approval and funding
  • Simple application process
  • No Origination Fees
Cons:
  • No Autopay Discount
  • For PenFed customers only
  • Extra Fees

Rates

Rates
7.99 - 17.99%
Term
12 - 60 months
Loan Amount
$600 - $50,000
For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.
View all Rates & Fees

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 700 or higher.
  • Ages

    To qualify, you must be at least 18 years old and a U.S. citizen or resident alien.

  • Requirements Description
    • Name, date of birth, and Social Security number
    • Home address
    • Employment information
    • Income sources
    • Amount of loan requested
    • Reason for the loan
    • Identification, such as a driver’s license or passport

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Description

  • PenFed Credit Union offers loans in all 50 states.

    All loans are subject to a minimum monthly payment of $50.

    PenFed Credit Union offers personal loans up to $50,000, with terms of 36 - 60 months. The interest rates range from 7.99% to 17.99%.

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