USAA Bank Personal Loans: 2021 Review

At a glance


Bankrate Score

  • Availability
  • Affordability
  • Customer Experience

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About USAA

  • Loan amount

    $2,500 – $20,000

  • Min. credit score

    Not specified

  • APR from

    Up to 18.51%

  • Funds available in

    Within 24 hours

USAA features

Here's a breakdown of some of the benefits and drawbacks of USAA personal loans.


  • Flexible loan terms
  • Excellent customer service


  • Membership required
  • Higher loan amounts required for longer terms

If you’re affiliated with the military and in search of a personal loan, you might consider USAA Bank. Serving over 13 million members, USAA is one of the largest military-affiliated financial service companies in the nation. The bank offers competitive rates and fast funding on personal loans for everything from home remodels to emergencies.

You must be a member in order to get a personal loan from USAA. Membership at the bank is open to active or former members of the military and their eligible family members. Cadets and midshipmen may also join.

Get Prequalified for a Personal Loan

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

USAA Bank snapshot

Loan amount $2,500 – $5,000
APR Up to 18.51%
Minimum credit score Not specified
Time to receive funds Within 24 hours


Pros and cons of USAA Bank personal loans

USAA may be an attractive option for members of the military, but make sure to consider the lender’s benefits and drawbacks before signing up.


  • Flexible loan terms: Terms range from 12 to 84 months, giving you a large selection of potential repayment terms — just note that you’ll have to borrow more to qualify for the longer terms.
  • Excellent customer service: USAA earns high marks from J.D. Power for its customer service, meaning you’ll likely have a smooth experience with the lender from application through repayment.


  • Membership required: You must be affiliated with the military in order to join USAA.
  • Higher loan amounts required for longer terms: For example, a one-year term has a $2,500 minimum, but a five-year term has a $10,000 minimum.


Lending terms

USAA offers personal loans that range from $2,500 to $20,000, with repayment terms from one to seven years — but note that terms longer than three years require you to borrow more money:

  • $5,000 minimum for a four-year term.
  • $10,000 minimum for a five-year term.
  • $15,000 minimum for a six-year term.
  • $20,000 for a seven-year term.

Fixed-rate loans from this bank go up to 18.51 percent, depending on term length and creditworthiness. These interest rates are based on a 0.25 percent reduction for automatic payments.

After a borrower is approved for a loan, USAA Bank typically deposits the money within 24 hours.


Fees and penalties

One of the perks of getting a loan through USAA as a member is that the bank charges very few fees. There are no application or origination fees, and the lender doesn’t impose a penalty for paying your loan off early.

USAA does, however, charge a late fee of 5 percent of the amount due.


How to apply for a loan with USAA Bank

The quickest way to apply for a personal loan through USAA Bank is through its online application. You can also apply over the phone. USAA has a limited number of branches, so it encourages members to use those two methods.

Members of the bank applying for a loan will be asked for standard information like their name, address, Social Security number, income and employer information. Additional documentation may be required.

In many cases, according to USAA, you’ll get your rate right away if you’re approved. Once you accept your loan terms, the money is typically deposited into your account within 24 hours.

Remember that before you settle on a bank, it’s important to check personal loan rates with a few lenders based on your loan amount, credit score, location, income and reason for the loan.


Get Prequalified for a Personal Loan

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

How Bankrate rates USAA Bank

Overall score 4.6
Availability 4.5
Affordability 4.5
Customer experience 4.7

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.