We receive advertising fees from the brands we review that affect the ranking and scoring. Advertiser Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

Best Personal Loans for Veterans of March 2023

Many veterans face unique financial challenges, and finding the right personal loan can be difficult. We've created a comparison table of the best personal loans for veterans in 2022. We've also included some tips on securing the best possible loan terms. Below is a table showing the best personal loans for veterans in comparison and choose that best fits your needs.

Quick links

Best Loans For Veterans & Military Members

Good for Bad Credit
Upgrade Check Your Rate in Minutes
  • APR: 5.94-35.97%
  • Loan Term: 24-72 months
  • Min Credit Score: 560
View details
Key facts
  • Quick and seamless application allows you to check rates in minutes.
  • Discover if you qualify without harming your credit score.
  • Offers fast funds in 1-4 business days

Read Upgrade Review »

Upgrade Disclaimer: “Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total in $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade’s lending partners. Information on Upgrade’s lending partners can be found at https://www.upgrade.com/lending-partners/.  “Fast Funding Disclaimer: “Accept your loan offer and your funds will be sent electronically to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days.”

SoFi Low Rates. No Fees required
  • APR: 8.99-23.43%
  • Loan Term: 24-84 months
  • Min Credit Score: 680
View details
Key facts
  • Competitive rates available for good credit scores and income source
  • Access to financial advisors, private networking events, & unemployment protection
  • Flexible terms & payment options with no fees whatsoever

Read SoFi Review »

Fixed rates from 8.99% APR to 23.43% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 3/06/23 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

LightStream Division of SunTrust Bank
  • APR: 5.40 - 35.99%
  • Loan Term: 24 - 84* months
  • Min Credit Score: 660
View details
Key facts
  • Good credit gets low rates and zero fees
  • Fast and easy online process
  • $100 Loan Experience Guarantee¹

Read LightStream Review »

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. Rateis quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. 1After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee. Truist Bank is an Equal Housing Lender. © 2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

PenFed Credit Union Offers Unsecured Personal Loans Online
  • APR: 4.99 - 17.99%
  • Loan Term: Up to 60 months
  • Min Credit Score: 700
View details
Key facts
  • Offers loans as small as $500.
  • Useful mobile app to manage your loan.
  • Offers extremely competitive rates.

Read PenFed Credit Union Review »

Rates and offers current as of July 2021 and are subject to change. *Your actual APR will be determined at the time of disbursement and will be based on your creditworthiness, which includes an evaluation of your credit history and the length of your PenFed membership. Not all applicants will qualify for the lowest rate. Rates quoted assume excellent borrower credit history. Other conditions may apply. †The initial inquiry will be a soft pull that may not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit. Loan amount determines rate and term. All loans are subject to a minimum monthly payment of $50. 1Loan Payment Example: A $35,000 personal loan financed at 4.99% APR would amount to 60 monthly payments of approximately $676.49 each.

Discover Designs loans for you
  • APR: 6.99 - 24.99%
  • Loan Term: 36-84 Months months
  • Min Credit Score: 660
View details
Key facts
  • Wide range of loan term lengths.
  • 30-Day money-back guarantee on loan proceeds.
  • No origination fees or prepayment penalties.

Read Discover Review »

Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements. Loans are unsecured. Loans are fully amortizing personal loans as long as you pay on time. You must have a minimum household income of $25,000 to be considered for a Discover personal loan. A Discover personal loan cannot be used to pay for post-secondary education or to pay off a secured loan. Your APR will be between 6.99% and 24.99% based on creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month for a total amount of $18,432. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. We may charge a fee if your payment is late.


Editor’s Choice for Veterans with Bad Credit: Upgrade

More than $3 billion in credit has been made available to more than 10 million applicants due to Upgrade. Enhancements to the credit system and improved access to loans enable people with bad credit histories to get money. Thus, making the best for veterans with bad credit.

Loan Types Personal loans, Debt consolidation, Personal Credit Lines
Loan Amount $1,000 – $50,000
APR 5.94% – 35.97%
Min Credit Score 560

Editor’s Choice for Veterans with Good Credit: SoFi

SoFi loans start at $5,000 and go up to $100,000. It’s a fantastic alternative for people with excellent credit who need to borrow a significant sum of money due to its wide range of options. SoFi has over $50 billion in loans and is famous for offering high loan amounts and longer loan durations.

Loan Types Personal loans, Student loans refinance, Private student loans, Home loans
Loan Amount $5,000 – $100,000
APR 5.73% – 23.43%
Min Credit Score 680

Editor’s Choice Lenders that Cater to Veterans: LightStream

LightStream offers unsecured personal loans between $5,000 and $100,000. There are no initiation, late payment, or prepayment expenses associated with LightStream. Thus, making it the best lender that caters to veterans.

Loan Types Personal loans, Auto Loans
Loan Amount $5,000 – $100,000
APR 5.40 – 35.99% *w/AutoPay
Min Credit Score 660

Editor’s Choice for Small Personal Loans to Veterans: PenFed

PenFed offers low-interest loans that start at $600 up to $50,000. It does not have hidden costs and also accepts non-veteran members. APR ranges between 5.99% and 17.99%. It is simple to join, and most people do it in minutes. While the membership is free, you must pay a deposit of at least $5 into your saving account.

Loan Types Personal loans, Debt Consolidation, Home Improvement, Auto Loans
Loan Amount $500 – $50,00
APR 4.99% – 17.99%
Min Credit Score 700


How should Veterans choose the best loan for their situation?

For a veteran to choose the best loan for their situation, they should consider the following:

What repayment terms can a veteran expect on a personal loan?

As a veteran, you have many options for choosing a personal loan. The essential factor in choosing the right loan for your situation is understanding what repayment terms you can expect.

Most personal loans have fixed interest rates, so the interest rate will not change over the life of the loan. It differs from variable interest rates, which can fluctuate based on the market.

Fixed interest rates are often higher than variable interest rates, but they offer stability and predictability. It can be helpful if you are trying to budget for your loan payments.

Do veterans receive any special perks or benefits when taking out a personal loan?

The short answer is no, and veterans do not receive special perks or benefits when taking out a personal loan. However, a few things to keep in mind could make the process easier or more helpful.

For starters, many lenders view veterans as low-risk borrowers. Because vets typically have stable incomes and a history of timely loan repayment. As a result, you may qualify for a lower interest rate on your loan than non-veterans.

How does a veteran prequalify for a personal loan?

When you’re a veteran, you can do a few things to make sure you’re getting the best possible loan for your situation. It’s important to know what loans are available to you. There are many types of loans out there, and each one has its own set of benefits and drawbacks.

You’ll want to research all of your options before deciding on a specific loan. Also, you’ll need to prequalify for a loan. This process will help you determine how much money you’re eligible to borrow, and it will also give you an idea of what interest rate you’ll be paying.

To prequalify for a loan, you’ll need to provide basic information about your financial situation, including your income, debts, and assets. Then compare different lenders to ensure you’re getting the best deal possible.

Other Financial Assistance for Veterans

Many organizations offer financial help to veterans. Some include:

1. The Department of Veterans Affairs

The Department of Veterans Affairs (VA) provides veterans with various benefits and services. Benefits include healthcare, disability compensation, education and training, employment help, pension programs, etc.

The VA also offers a home loan program that helps veterans finance the purchase of their homes. Veterans can also get help financing the costs of home improvements and repairs through the VA Home Improvement Loan Program.

2. Directory of veterans services organizations

The directory of veterans services organizations is an excellent resource for finding organizations that offer financial assistance to veterans. The directory includes information on the organization’s name, contact information, and website.

Organizations listed in the directory include: the American Legion, Disabled American Veterans, Veterans of Foreign Wars, Vietnam Veterans of America

Now that you know a little more about financing options for veterans, you can decide which option is right for you.

Veterans Interested in Buying a Home

If you’re a veteran interested in buying a home, review your mortgage options with Veterans United. They offer the best mortgage rates for qualified veterans and can help you navigate the home-buying process.

There are a few things to keep in mind when you’re ready to buy a home. First, get pre-approved for a mortgage to know how much you can afford to spend. Then, start shopping around for a home that fits your budget and needs.

Once you’ve found a few homes you like, it’s time to start the negotiation process. VA can help you with this, too. They have a team of experienced negotiators who will work on your behalf to get you the best possible price on your new home.

See Best Mortgage Loans

Veterans looking for a Business Loan

As a veteran, you have many options for the best business loans. The best way to find the right loan for your business is to research your options and compare rates.

Many online resources can help you compare rates and terms from different lenders. You can also talk to a Small Business Administration (SBA) loan specialist to learn more about your options.

SBA-backed loans are an excellent option for veterans because they offer competitive rates and flexible repayment terms. Be sure to check out all of your options before deciding on a loan.


If you’re a veteran, you may be eligible for a VA loan. VA loans offer competitive rates and flexible repayment options, making them great for veterans looking to finance a home.

Other personal loan options are available, and each has its own set of benefits and drawbacks. Before deciding which one is right for you, be sure to compare multiple personal loan offers.

Do you have questions about personal loans? Our Personal Loans Guide can help. Learn more about the best personal loans for veterans and get started on the path to financial success.