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Xplore Federal Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 17 July 2023
Fact checked

XploreFCU logo

Xplore Federal Credit Union was founded in 1947. This non-profit financial institution has 8,000 members in its three branches. Xplore FCU offers a wide range of personal loans that may be suited to your needs.

What is the cost of an Xplore FCU personal loan? Use the Xplore Federal Credit Union personal loans calculator to input your desired loan amount. Or, use it to view your estimated monthly repayments. In any case, you can keep adjusting the figures until you find a payment amount that fits your budget.


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 Xplore Federal Credit Union personal loans

Xplore FCU offers personal loans for educational expenses, vehicle repairs, or family vacations. Alternatively, you can use it to fund your personal projects or startups. There are no prepayment penalties. Also, the interest rates are as low as 11.49% APR.

Features of Xplore Federal Credit Union’s personal loan

Below is an outline of what you can get from an Xplore FCU personal loan:

  • Loan amounts: $500 to $50,000
  • Loan terms: From 1 year to 10 years
  • Repayment frequency: Monthly
  • Interest rates: APR from 11.49%
  • Prepayment Fees: Zero

Requirements for an Xplore Federal Credit Union personal loan

Personal loans at Xplore FCU are only available for members. You can become an Xplore FCU member if:

  • You live in Jefferson, Orleans, and St. Tammany Parishes
  • You work in Jefferson, Orleans, and St. Tammany Parishes
  • You attend church in Jefferson, Orleans, and St. Tammany Parishes
  • You attend school in Jefferson, Orleans, and St. Tammany Parishes

To open an account, you should:

  • Be 18 years old
  • Be a U.S. citizen
  • Provide a copy of your driver’s license and social security number

Loan Amount

$20,000

Term

3 months

Xplore Federal Credit Union

Xplore Federal Credit Union personal loans

Estimated Month Repayments
Interest Rate
5.99%
APR
Repayment Period
12 months
to 120 months
Loan Amounts
$500
to $50,000
Explore financing for your next goal or project - or maybe even a big dream.

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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 getting a personal loan from Xplore FCU

Pros

  • Borrow up to $50,000
  • No prepayment penalties
  • Potential for lower interest rates

Cons

  • Not available for non-members
  • No information about origination fees
  • No information about co-application

Frequently asked questions

Does Xplore FCU offer personal loans to non-members?

No, personal loans are not available for non-members. Apply to become a member so you can submit your loan application.

How much can I borrow?

You can borrow a minimum of $500 and a maximum of $50,000.

What is the interest rate on an Xplore FCU personal loan?

The website indicates that their APR is as low as 11.49%. Of course, the final rate will depend on your creditworthiness.

What is the minimum credit score required for an Xplore FCU loan?

The bank’s website does not reveal the minimum credit score to qualify for a loan. You can obtain your credit report from these agencies – Experian, Equifax, and TransUnion.

Will Xplore FCU charge me any fees for my loan?

The bank did not indicate if there are application fees involved. However, the website says that there are no prepayment fees.


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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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