This question is about Navy Federal Credit Union
@grace_enfield • 06/01/22 This answer was first published on 06/01/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not
provided, reviewed or endorsed by any company. Navy Federal Credit Union may approve you for a personal loan the same day you apply or within 3 - 10 business days. After your application is approved and you accept the offer, it takes 1 business day to receive your funds, which Navy Federal Credit Union will send to you by electronic bank transfer. If you think a Navy Federal Credit Union loan is right for you,
check out the full Navy Federal Credit Union personal loan review on WalletHub. You can also estimate your potential rates with our free pre-qualification tool. Grace Enfield, Content Writer
Key Things to Know About Navy Federal Credit Union Loan Approval
Answer Question
People also ask
How long does it take to get money from a Navy Federal Credit Union personal loan?
It takes 3 to 11 business days to get money from a Navy Federal Credit Union personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer
How to Get Money From Navy Federal Credit Union as Fast as Possible
- Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Navy Federal Credit Union having to request additional information.
- Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
- Apply online. Online applications have the fastest processing times since they are automated and streamlined.
Once you get approved for a Navy Federal Credit Union personal loan, the money will be delivered through an electronic funds transfer to your bank account, which usually takes 1 to 3 business days.
show less
What credit score do you need for a Navy Federal Credit Union personal loan?
Navy Federal Credit Union does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified Navy Federal Credit Union credit score requirement, Navy Federal Credit Union will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer
Keep in mind that Navy Federal Credit Union will look at more than just your credit score when evaluating your application for a personal loan. Navy Federal Credit Union will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
If you're unsure of what your current credit score is, you can check it for free on WalletHub.
show less
How do I apply for a Navy Federal Credit Union personal loan?
To apply for a Navy Federal Credit Union personal loan, first decide which way you will apply (online, by phone or in person), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for a Navy Federal Credit Union Personal Loan… read full answer
- Decide which way to apply. You can apply for a Navy Federal Credit Union personal loan online, by phone or in person. Applying online is the best way because it typically offers the fastest decision.
- Enter your personal information on the application. Navy Federal Credit Union requires the following personal information on the application: full name, driver’s license or government ID, current home address, email address, phone number, date of birth and Social Security number.
- Enter your financial information on the application. Navy Federal Credit Union requires the following financial information on the application: your current employment and income, employer’s name and contact information, and NFCU Access Number.
- Double check the application for accuracy. To ensure that your Navy Federal Credit Union personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
- Submit your application. Navy Federal Credit Union will typically provide a decision on your application within 3 to 11 business days.
If you are approved for a Navy Federal Credit Union personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.
show less
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Did we answer your question?
Sorry! How can we improve this answer?