Best Military Personal Loans in 2025
Personal loans with low rates, better terms and perks for military members
| Lender | User rating | Best for | APR | Term | Amount | Min. credit score | |
|---|---|---|---|---|---|---|---|
|
Military loans with repayment assistance | 7.99% – 24.99% | 36 to 84 months |
$2.5k – $40k |
none | ||
|
Military loans for excellent credit | 6.40% – 25.29% | Up to 84 months |
$5k – $100k |
650 | ||
|
Military loans for bad credit | 7.50% – 35.99% (Test) | 12 to 84 months |
$100 – $1M |
Not specified |
| Lender |
|
|
|
|---|---|---|---|
| User rating | |||
| Best for | Military loans with repayment assistance | Military loans for excellent credit | Military loans for bad credit |
| APR | |||
| Term | 36 to 84 months | Up to 84 months | 12 to 84 months |
| Amount | $2.5k – $40k | $5k – $100k | $100 – $1M |
| Min. credit score | none | 650 | Not specified |
Best For: military personal loans with repayment assistance
- Willing to work with you if you’re having trouble making payments
- No upfront (origination) fees
- Customer service is based in the U.S. and is available seven days a week
- Hard to qualify for
- Can’t get a loan with another person
Discover offers repayment assistance programs to get you back on track if you’re having trouble making payments on your military loan. For instance, its short-term assistance program will temporarily lower your payments to make them easier to handle. Plus, its U.S.-based loan specialists are available until 11 p.m. EST on weekdays and 6 p.m. EST on weekends if you have questions.
Borrowers with bad credit are typically not eligible for a Discover loan, and you can’t add a co-borrower, either.
You’ll need to meet these eligibility criteria to get a Discover loan:
- Age: Be at least 18
- Citizenship: Have a Social Security number
- Administrative: Have a physical address, an email address and internet access
- Income: Minimum income of $40,000 (individually or as a household)
- Credit score: 720+
Best For: military personal loans for excellent credit
- Low rates for borrowers with excellent credit
- Offers up to $100,000 (many loans max out at $50,000)
- Has a satisfaction guarantee
- Must take out at least $5,000
- Won’t qualify if you have fair or bad credit
- Can’t check rates without damaging your credit
Military members with excellent credit can qualify for some of the lowest rates on the market with LightStream. You can borrow up to $100,000 without paying any upfront fees, making LightStream a good choice for a large expense. What’s more, LightStream may send you $100 if you’re not satisfied with your loan experience.
Note that LightStream only approves borrowers with good to excellent credit, you can’t prequalify to see if you’re eligible.
LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants that LightStream approves have the following in common:
- At least five years of on-time payments under a variety of accounts (credit cards, auto loans, etc.)
- Stable income and the ability to handle paying their current debt obligations
- Savings, whether in a bank account, an investment account or a retirement account
Best For: military personal loans for bad credit
- One of the lowest credit score requirements on the market
- If you graduated from college, you might not need a credit score at all to qualify
- Borrow as little as $1,000
- May charge a high upfront fee
- Bad-credit loans can be helpful, but they usually have high rates
- Only offers two repayment lengths (36 or 60 months)
Upstart isn’t military-specific, but this lending platform does serve non-traditional borrowers, including those with lower credit scores. If you need a bad-credit loan, you can qualify with Upstart with a score as low as 300 — one of the lowest thresholds on the market. But watch out for Upstart’s rates. If you have bad credit, you’ll likely pay rates close to 36%.
If you have excellent credit, lenders on the Upstart platform offer some of the most competitive starting interest rates. That said, Upstart may charge you a high upfront loan processing fee called an origination fee.
Upstart has transparent eligibility requirements, including:
- Age: Be 18 or older
- Administrative: Have a U.S. address, personal banking account, email address and Social Security number
- Income: Have a valid source of income, including a job, job offer or another regular income source
- Credit-related factors: No bankruptcies within the last three years, reasonable number of recent inquiries on your credit report and no current delinquencies
- Credit score: 300+ (unless you’re an eligible college student or graduate, in which case Upstart could approve you with no credit)
What to know about military personal loans
Whether you’re looking to consolidate debt or you need cash for an unexpected expense, a personal loan can help you get back on your feet (when used responsibly).Lenders like Navy Federal Credit Union and USAA specialize in serving military members, but members of the armed forces can get loans from any lender as long as they follow the rules in the Military Lending Act (MLA).
Some special rules and benefits apply to loans for military members and their eligible dependents. Here’s what you need to know:
| Loans opened during service | Loans opened pre-service |
|---|---|
Under the MLA, loans offered to active-duty military members, their spouses and certain dependents must not:
| The Servicemembers Civil Relief Act (SCRA) can help active-duty military (and at times, their dependents) by:
|
The MLA applies to installment loans, including unsecured personal loans. This list of benefits and protections is just a general guideline. For more information regarding your specific situation, contact a legal professional who is well-versed in military law.
Applying for a military personal loan
Although the process of applying for a personal loan is similar for military members and civilians, there are two key differences:
- Some loans will not be available to you because of MLA restrictions, so your pool of potential lenders may be smaller. For instance, many no-credit-check loans come with APRs above 36%, making them unavailable to active military members.
- You’ll need to provide proof of service if you’re applying for a loan only open to military members. This may include providing information about your branch, rank and date of service.
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Grants for veterans and other financial assistance
The MLA and SCRA provide protections for active-duty military, but they don’t apply to personal loans for veterans. For that reason, it’s especially important for veterans to ensure they aren’t taking out a loan with predatory rates and terms.
When personal loans aren’t an option, veterans can find financial help through nonprofit organizations and government programs.
If you think you may be eligible for VA benefits but are having a hard time navigating the system, make an appointment with your local Veteran Service Officer (VSO). A VSO’s main duty is to help veterans find and use their benefits, all for free.
Operation First Response
Open to: Disabled veterans, first responders and their families
Disabled veterans and their families can get financial assistance through Operation First Response. This charity’s Family Assistance Program provides funds for groceries, utility bills, mortgage payments and other everyday items.
USA Cares
Open to: Post-9/11 military members and their families
USA Cares provides emergency financial assistance for military members who served after 9/11. This organization also focuses on getting veterans set up for a successful post-military life by providing career transition training.
VFW’s Unmet Needs
Open to: Active-duty servicemembers and their families
Active-duty servicemembers experiencing financial hardship due to deployment or military-related injury could qualify for a grant of up to $2,500 through VFW’s Unmet Needs program. These funds can be used for “daily necessities,” which could include mortgage payments, child care, vehicle repairs and other expenses.
HUD-Veterans Affairs Supportive Housing
Open to: Homeless veterans and their families
The United States Department of Housing and Urban Development (HUD) has partnered with the Department of Veterans Affairs (VA) to create the HUD-Veterans Affairs Supportive Housing program, otherwise known as HUD-VASH.
HUD-VASH helps homeless veterans and their families by providing housing assistance through a dedicated case manager.
Frequently asked questions
You can get a loan in the military, as long as the lender follows the MLA. That means you aren’t allowed to get a loan that has a rate higher than 36%, and lenders can’t charge you prepayment penalties.
If you’re looking to get a loan from the military, note that the VA itself doesn’t provide personal loans (just home loans).
Regardless of your military status, the credit score you need for a personal loan varies from lender to lender. Upstart is a good lender to start with if you have bad credit. It only requires a credit score of 300, and it waives its credit requirements for eligible college students and grads. Upstart also caps its rates at 35.99%, so it falls under MLA guidelines.
The Military Lending Act makes it illegal for lenders to offer loans with interest rates above 36% to members of the military. Since payday loans come with high rates, military members can’t get them.
Our methodology
We reviewed more than 30 lenders to determine the overall best seven personal loans. To make our list, lenders must offer personal loans with competitive APRs. From there, we prioritized lenders that cater to military members. We also based our ranking decision on the following factors:
Accessibility. Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
Rates and terms. We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
Repayment experience. For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.
Based on our systematic rating and review process, the best military loans come from Navy Federal Credit Union, USAA, Achieve, Discover, LightStream, SoFi and Upstart.
While they didn’t make our shortlist, Omni Military Loans, Armed Forces Bank and Service Credit Union offer loans specifically for military members.