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Pentagon Federal Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 10 Aug 2023
Fact checked

Pentagon Federal Credit Union logo

Pentagon Federal Credit Union was founded in 1935 and is the country’s third largest credit union. This Virginia-based non-profit cooperative has more than 1.8 million members, and has over $25 billion in assets. They provide a full range of financial services like free checking accounts, VISA credit cards, competitive loan rates, mobile banking, and high-yielding CDs.

Personal loans can be beneficial if used carefully. Always check the amount of your monthly installments so you wouldn’t get into any financial difficulties along the way. Want to evaluate whether to proceed with your application for a Pentagon Federal Credit Union personal loan or not? Find out how much you have to pay on a monthly basis or for the life of the loan. Let the Pentagon Federal Credit Union personal loans calculator do the work for you.

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.

An overview of Pentagon Federal Credit Union personal loans

Before taking out a loan from Pentagon Federal Credit Union, find out about its features and benefits. This will help you compare it with those from other lenders. The list below will show if they correspond to what you’re looking for in a personal loan:

  • Loan amounts: $50,000 maximum
  • Loan terms: 60 months maximum
  • Loan fees: $0 application fee; $0 prepayment penalty
  • Repayment frequency: monthly or bi-weekly
  • Interest rates: from 7.74% to 17.99% APR

Requirements for a Pentagon Federal Credit Union personal loan

You must be a member of Pentagon Federal Credit Union to be eligible for a personal loan. Here are the criteria you must meet to become a member of Pentagon Federal Credit Union:

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

Pentagon Federal Credit Union does not have a list of eligibility requirements for potential loan applicants. However, here’s the general expectation among most lenders:

  • You are 18 years of age or older. Provide at least two forms of government-issued identification such as passport or certificate of citizenship.
  • You are a US citizen or resident. Provide a copy of a voter registration card or auto insurance that lists your address.
  • You have consistent and steady monthly income. Common forms of income verification include pay stubs, 1099 forms, or income tax returns.
  • You have a good credit standing. Aim to maintain a minimum credit score of 600. Ideally, a credit score of 700 can result in lower APRs, higher loan amounts, or a more reasonable repayment term.
  • You have a good debt-to-income ratio. Most lenders expect applicants to have a DTI ratio of 40% or lower.

 

Pentagon 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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Pentagon Federal Credit Union

Pentagon Federal Credit Union personal loans

Pentagon Federal Credit Union personal loans
Estimated Month Repayments
$608 Inclusive of fees
Interest Rate
5.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$600
to $50,000
Go to site
The money you need, the hassles you don't.
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Wells Fargo

Wells Fargo personal loans

Estimated Month Repayments
$606 Inclusive of fees
Interest Rate
5.74%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$3,000
to $10,000
Go to site
Checking and savings accounts and credit cards for your everyday business expenses and cash management.
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Eastman Credit Union

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
29.90%
APR
Repayment Period
12 months
to 12 months
Loan Amounts
$1,000
to $20,000
Go to site
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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 Pentagon Federal Credit Union personal loans

Pros

  • High borrowing limits for qualified borrowers
  • Longer repayment term length compared to those from other lenders
  • No early payoff penalty
  • No origination fee

Cons

  • No information on minimum loan amount
  • No information on minimum repayment term length
  • You have to be a member to proceed with the loan application
  • A $29 fee if payments are late for more than 5 days

Frequently asked questions

How much can I borrow from Pentagon Federal Credit Union?

Pentagon Federal Credit Union offers personal loans up to $50,000.

How long should I repay a personal loan from Pentagon Federal Credit Union?

Pentagon Federal Credit Union offers personal loan terms up to 5 years.

How much does Pentagon Federal Credit Union charge for its personal loans?

The personal loan rates from Pentagon Federal Credit Union can be as low as 7.74%. and can reach up to 17.99%.

Does Pentagon Federal Credit Union allow co-borrowers?

Yes. You may apply with a co-borrower to increase your chances of approval or to lower your final rates.

When will I receive my loan proceeds?

If approved for a personal loan from Pentagon Federal Credit Union, you should see the funds in the account of your choosing within 48 hours.

Video: PenFed Credit Union personal loans – Home improvement

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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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