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PSECU Personal Loans Calculator & Overview

Updated 10 Aug 2023

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Pennsylvania State Employees Credit Union or PSECU was chartered in 1934 and is found in Harrisburg, Pennsylvania. PSECU holds $7.5 billion in assets and has over 480,000 members. They provide personalized services including higher interest rates on savings and lower rates on personal loans, new and used auto loans, and HELOCs.

Personal loans can be a useful way to obtain extra money when you need it. For example, if you run into an emergency, you might not have the funds available to meet your needs. It is important, though, to be informed of how much you have to pay, monthly and overall. So, before you settle on a personal loan from Pennsylvania State Employees Credit Union, use the PSECU personal loans calculator to determine how much your EMIs (equated monthly installments) will be.

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.

PSECU personal loans at a glance

It is important to know about the features and benefits of a personal loan from Pennsylvania State Employees Credit Union. Read on to find out if any of the items below correspond to what you’re looking for in a personal loan:

Here’s a breakdown of the key features and benefits of a PSECU personal loan:

Loan amounts: minimum $1,000; maximum $20,000
Loan terms: between 12 to 60 months
Prepayment penalty: $0
Loan flexibility: same day approval and same day funding for qualified borrowers
Interest rates: starting at 8.99% APR
Loan option: without collateral

Requirements for a PSECU personal loan

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

You live, work, worship, or attend school in PSECU recognized counties
You are a family member of a PSECU member
You are a current or former employee of PSECU recognized establishments, businesses, or institutions

Pennsylvania State Employees 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.

PSECU personal loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

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PSECU personal loans

Estimated Month Repayments

$622 Inclusive of fees

Interest Rate

7.49%
APR

Repayment Period

11 months
to 61 months

Loan Amounts

$1,000
to $20,000

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Here at PSECU, we call our personal loans “Signature Loans.” They are a fast, convenient, and affordable way to borrow money.

Featured

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

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Checking and savings accounts and credit cards for your everyday business expenses and cash management.

Featured

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

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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 PSECU personal loans

Pros

Wide range of borrowing limits
No collateral required
Get all the cash upfront
Affordable monthly payments
One fixed rate throughout repayment

Cons

The lender doesn’t make its full eligibility criteria clear
The maximum borrowing limit is lower than those from other lenders
No information on minimum income/credit score requirements
No information on rate discounts for automatic payments
No information on debt protection plans

Frequently asked questions

How much can I borrow from PSECU?

You can borrow between $1,000 and $20,000 from PSECU.

How long should I repay a personal loan from PSECU?

Personal loans from PSECU have repayment term options between 1 and 5 years.

How much does PSECU charge for its personal loans?

The personal loan rates from PSECU start at 8.99% APR.

What is the expected turnaround time for a PSECU personal loan application?

Qualified borrowers can expect approval and funding for their personal loan application from PSECU in a matter of several business days.

Do I need to submit collateral for a PSECU personal loan?

No. Personal loans from PSECU are unsecured, meaning you don’t need to put up collateral like a house or a car to secure your loan.