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NASA Federal Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 10 Aug 2023
Fact checked

NASA Federal Credit Union logo

NASA Federal Credit Union was founded in 1949 and is headquartered in Marlboro, Maryland. NASA FCU holds $3 billion in assets and has members of over 200,000 nationwide. Their personal banking products and services are as follows: credit cards, CDs, and IRAs, home loans, auto loans, and personal loans.

When you take out a loan, you have to be committed to pay EMIs (equated monthly installments), as well as other fees, on a regular basis and for the life of the loan. The question now is, can you afford to borrow money from NASA Federal Credit Union? Let the NASA Federal Credit Union personal loans calculator provide an estimate of your monthly repayments.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

General facts about NASA Federal Credit Union personal loans

As with any other lender, NASA Federal Credit Union has its own set of loan features and benefits. See if any of these listed below matches your personal expectations and payment preferences:

  • Loan amounts: maximum $30,000
    Loan terms: up to 84 months
  • Loan terms: up to 84 months
  • Origination fee: $0
  • Prepayment penalty: $0
  • Interest rates:as low as 8.74% APR

Requirements for a NASA Federal Credit Union personal loan

NASA Federal Credit Union personal loans are available for members. If you want to join, there are many ways to qualify for membership:

  • You live, work, worship, or attend school in NASA Federal Credit Union recognized counties
  • You are a family member of a NASA Federal Credit Union member
  • You are a current or former employee of NASA Federal Credit Union recognized establishments, businesses, or institutions

NASA Federal Credit Union does not have a specific list of borrower criteria. However, most lenders expect loan applicants to submit documents related to the following requirements:

  • Proof of identity: This is to determine if you’re a United States citizen or permanent resident and if you’re at least 18 years of age. You’ll typically need to present two forms of identification, such as birth certificate, driver’s license, passport, or social security card.
  • Proof of your living situation: This is to determine if you are a permanent US citizen or resident. You can usually use one of the following: utility bill, proof of insurance on your home, lease/rental or vehicle, lease or rental agreement.
  • Proof of capacity to pay: Lenders need to be confident that you will repay the loan. If you are traditionally employed, submit a copy of your pay stubs, W-2s and 1099s, employer statement. If you are a business owner or a self-employed applicant, submit a copy of your tax returns, bank statements, or annuity statements.
  • Good credit score and DTI ratio: Lenders require applicants to meet a certain credit score threshold (beyond 700) and DTI ratio for approval (lower than 40%). However, these requirements aren’t set in stone.

 

NASA Federal Credit Union personal loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
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Loan Amount

$20,000

Term

3 months

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NASA Federal Credit Union

NASA Federal Credit Union personal loans

NASA Federal Credit Union personal loans
Estimated Month Repayments
$615 Inclusive of fees
Interest Rate
6.74%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$1,000
to $30,000
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Estimated Month Repayments
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Interest Rate
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APR
Repayment Period
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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

 

Pros and cons of NASA Federal Credit Union personal loans

Pros

  • Low APRs compared with those from other credit unions
  • No origination fees
  • No prepayment penalties
  • Longer repayment term lengths up to 84 months
  • Co-borrowers allowed

Cons

  • Exclusive for members
  • No clear list of borrower criteria and requirements
  • No information on rate discounts or debt protection plans

Frequently asked questions

How much does NASA Federal Credit Union offer for its personal loans?

Qualified borrowers of a NASA Federal Credit Union personal loan can receive funds as high as $30,000.

What are my options for repaying the full loan amount from NASA Federal Credit Union?

The loan from NASA Federal Credit Union can be repaid for up to 84 months.

What are the potential rates for a personal loan from NASA Federal Credit Union?

Potential rates for a NASA Federal Credit Union personal loan can start from 8.74%.

What are the fees involved when applying for a NASA Federal Credit Union personal loan?

NASA Federal Credit Union personal loans do not have origination fees or prepayment penalties. However, they charge $25 for every late payment.

Does NASA Federal Credit Union provide a skip-a-payment program?

Yes, they do. You may skip one full payment after six monthly loan payments are made on your personal loan.

Does NASA Federal Credit Union provide a debt protection plan?

Yes, they do. They have a voluntary Credit Protection product that can give you relief from delinquency, default or foreclosure if you’re suddenly unable to pay.

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Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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