Personal Loan and Lines of Credit
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.