Facebook Personal Loans + Lines of Credit | Learn More | Consolidate Debt | MA

 

Click here for information on our branch availability.

Personal Loan and Lines of Credit

PERSONAL Loans

If you're looking to make an important purchase or consolidate some of your debt, our Personal Loan options are some of the best around. With loans available up to $25,000, members of Direct Federal may quickly apply for funds to cover an expensive purchase, emergency expense, or even a vacation. 

Personal Loans up to $2,500 are 0% Annual Percentage Rate1 (APR) with no payments required for 6 months. APR after 6 months is a leading rate of 6.99%. Personal Loans over $2,500 have a fixed rate of 9.49%2 and require monthly payments starting in month one.

 
 

Personal Lines of Credit

With lines up to $10,000, our Personal Lines of Credit (PLC) options allow you to add overdraft protection to your Direct Federal checking account, or simply hold a revolving line of credit for the times when extra funds are needed to cover a home expense or the holiday season.   

PLC's up to $2,500 that are tied to a Direct Federal checking account receive a 0% APR3 for 6 months with no payments required for 6 months. After 6 months, the variable rate is the Prime + 3.74% (currently 6.99%).  PLC's that are over $2,500 or not tied to a Direct Federal checking account receive a variable rate of Prime + 5.74%4 (currently 8.99%) and require monthly payments starting in month one.

apply for a personal line >
 

 


1Based on a loan amount of $1,000. A term of sixty-six (66) months. The first six(6) months are 0% followed by sixty (60) months at an interest rate of 6.99%. Payments of principal and interest are waived for the first six (6) months. The cost per $1,000 borrowed after the first six months would be $19.80. (Payment example: $19.80 due on the 7th month consisting of principal of $13.75 and interest of $6.05). Maximum loan amount $2,500. Subject to Underwriting.
2APR of 9.49%, 12.49%, or 14.49% based on your credit worthiness.
3Based on a line amount of $1,000. The first six(6) months are 0% followed by minimum payments of the greater of 1) 3% of the principal balance of your account on the statement date or 2) $25.00. Payments will be be applied first to interest accrued at an interest rate of 6.99%, second to any late charges, and third to principal and other charges. Payments are waived for the first six (6) months. Maximum loan amount is $2,500. Subject to Underwriting.
4APR of Prime + 5.74%, 8.74%, or 10.74% based on your credit worthiness.