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Patelco Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 10 Aug 2023
Fact checked

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Patelco Credit Union was founded in 1936 and is one of the largest and oldest credit unions in the country. Patelco Credit Union has more than 400,000 members, and has an asset size of $8 billion. For personal banking, they offer financing services including deposit and checking accounts, loans and credit cards, mortgages, insurance, and payment solutions.

Being financially disciplined and creating a well-planned budget will make managing your personal loan as simple as 1-2-3. To determine if a personal loan from Patelco Credit Union is the best option for you, you have to figure out how long you want to take to pay off your debt. Calculate your prospective repayments through the Patelco Credit Union personal loans calculator.

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 Patelco Credit Union personal loans

As with any other lender, Patelco 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: from $300 to $100,000
  • Loan terms: between 6 and 84 months
  • Origination fee: $0
  • Prepayment penalty: $0
  • Interest rates: from 7.45% to 17.90% APR

Requirements for a Patelco Credit Union personal loan

Patelco 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 Patelco Credit Union recognized counties
  • You are a family member of a Patelco Credit Union member
  • You are a current or former employee of Patelco Credit Union recognized establishments, businesses, or institutions

Borrower criteria for a Patelco Credit Union personal loan are undisclosed. However, most lenders require potential loan applicants to prepare and submit the following documents.

  • Proof of identity (driver’s license, birth certificate, social security card, passport)
  • Proof of residence (utility bill, lease or rental agreement, mortgage statement, property tax receipt)
  • Proof of employment for traditionally employed individuals (paystubs, W-2s and 1099s, employer statement)
  • Income verification for self-employed individuals or business owners (tax returns, bank statements, annuity statements)

 

Patelco Credit Union personal loan calculator

Loan Amount

$20,000

Term

3 months

Patelco Credit Union

Patelco Credit Union personal loans

Estimated Month Repayments
Interest Rate
5.70%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $50,000
Find the borrowing option to help with your needs. Interested in a Personal Loan - Know your rate and get pre-qualified in minutes.

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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 Patelco Credit Union personal loans

Pros

  • Wide range of borrowing limits
  • Borrow a small amount for as low as $300
  • Borrow as much as $100,000 for big expenses, large purchases, or major life events
  • Low starting APRs compared to those from other lenders
  • Longer repayment term lengths

Cons

  • Exclusive for members only

Frequently asked questions

What are the minimum and maximum loan amounts for a Patelco Credit Union personal loan?

You can borrow as much as $100,000 from Patelco Credit Union.

What are the repayment terms for a Patelco Credit Union personal loan?

You have a maximum of 7 years to repay your personal loan from Patelco Credit Union.

What interest rates does Patelco Credit Union personal loan offer?

Interest rates for a personal loan from Patelco Credit Union can range between 7.45% and 17.90%.

What interest rates does Patelco Credit Union personal loan offer?

Interest rates for a personal loan from Patelco Credit Union can range between 7.45% and 17.90%.

Can I defer a loan payment?

Yes. Patelco Credit Union offers the SKIP-A-PAY program to enable borrowers to skip a single loan payment which can be deferred up to 3 months.

Does Patelco Credit Union offer incentives for on-time payments?

Yes. If you make 12 consecutive, on-time monthly payments for your Patelco loan, your rate will be reduced up to 0.50% APR per year for a maximum reduction of 1.50% APR for the life of the loan.


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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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