How Do Personal Loans Impact Your Credit?
Personal loans can help build credit with a positive payment history and a reduced credit utilization ratio.
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Personal Loans
as low as
8.89
%
APR
The APR (Annual Percentage Rate) is effective as of 07/01/2024, ranging from 8.89% to 18.00% APR, with terms between 24 and 84 months. The APR is determined by various factors within Arkansas Federal’s custom scoring model, including, but not limited to, credit score, credit history, income, and debt-to-income. You must have a minimum household annual income of $25,000, be over 18 years of age, and have a valid U.S. Social Security Number to be considered for an Arkansas Federal personal loan. The maximum loan amount for an Arkansas Federal personal loan is $25,000. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history, and application information meet all requirements. For debt consolidation, even with a lower interest rate or monthly payment, paying debt over a longer period may result in paying more interest. An Arkansas Federal personal loan is intended for personal use. It cannot be used to pay for post-secondary education, a secured loan, or directly pay off an Arkansas Federal credit card. If application verification is completed and final approval occurs before 3:00 PM (CT) on the days the credit union offices are open, funds may be deposited the same business day via direct deposit to your Arkansas Federal account. Offer and rate are subject to change without notice. Membership with Arkansas Federal is required.
%
APR
Get the money you need within hours.Final approval and credit decision timing may vary if additional documents are requested as part of the verification process. The APR is determined based on credit score and history, as well as term. Funds are generally deposited the same business day via direct deposit to your Arkansas Federal account if verification is completed and final approval occurs before 3:00 PM on the days the credit union offices are open.
With competitive rates as low as 8.89% APR The APR (Annual Percentage Rate) is effective as of 07/01/2024, ranging from 8.89% to 18.00% APR, with terms between 24 and 84 months. The APR is determined by various factors within Arkansas Federal’s custom scoring model, including, but not limited to, credit score, credit history, income, and debt-to-income. You must have a minimum household annual income of $25,000, be over 18 years of age, and have a valid U.S. Social Security Number to be considered for an Arkansas Federal personal loan. The maximum loan amount for an Arkansas Federal personal loan is $25,000. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history, and application information meet all requirements. For debt consolidation, even with a lower interest rate or monthly payment, paying debt over a longer period may result in paying more interest. An Arkansas Federal personal loan is intended for personal use. It cannot be used to pay for post-secondary education, a secured loan, or directly pay off an Arkansas Federal credit card. If application verification is completed and final approval occurs before 3:00 PM (CT) on the days the credit union offices are open, funds may be deposited the same business day via direct deposit to your Arkansas Federal account. Offer and rate are subject to change without notice. Membership with Arkansas Federal is required. for up to 24 months and loan limits up to $25,000, our personal loans get you the money you need faster and at a lower cost than most credit cards. Enjoy one upfront lump sum. Repay monthly with fixed, predictable payments.
Payment Examples
24 Month Term
| Loan Amount | APR1 | Est. Monthly Payment |
|---|---|---|
| $500 | 9.25% | $22 |
| $1,000 | 9.25% | $45 |
| $2,500 | 9.25% | $114 |
| $5,000 | 9.25% | $229 |
36 Month Term
| Loan Amount | APR1 | Est. Monthly Payment |
|---|---|---|
| $1,000 | 9.50% | $32 |
| $2,500 | 9.50% | $80 |
| $5,000 | 9.50% | $160 |
| $10,000 | 9.50% | $320 |
48 Month Term
| Loan Amount | APR1 | Est. Monthly Payment |
|---|---|---|
| $5,000 | 9.75% | $126 |
| $7,500 | 9.75% | $189 |
| $10,000 | 9.75% | $252 |
| $15,000 | 9.75% | $378 |
60 Month Term
| Loan Amount | APR1 | Est. Monthly Payment |
|---|---|---|
| $5,000 | 10.00% | $106 |
| $7,500 | 10.00% | $159 |
| $10,000 | 10.00% | $212 |
| $15,000 | 10.00% | $318 |
Competitive, Fixed Rates
Get the cash you need. No collateral is required.
Features & Benefits
Fast Approval
Once you apply online, you can get approved and have the money in your hands in hours.Final approval and credit decision timing may vary if additional documents are requested as part of the verification process. The APR is determined based on credit score and history, as well as term. Funds are generally deposited the same business day via direct deposit to your Arkansas Federal account if verification is completed and final approval occurs before 3:00 PM on the days the credit union offices are open.
$0 Application Fee
Our personal loans have no fees attached. You only pay interest. No application or origination fee.
Affordable Payments
A fixed-rate means you’ll have the same affordable monthly payment – no surprises!
Frequently Asked Questions
What is a Personal Loan used for?
It can be used for whatever you want—consolidate high-interest debt, fund a major purchase, or hit the beach. The possibilities are endless.
What is a Personal Loan from a Credit Union?
Members with monthly take-home pay of $500 or more can find out their eligibility for a Personal Loan by going through the application process. Borrowing power is based on personal financial history, credit score, and current income.
How will a Personal Loan impact my Credit Score?
A Personal Loan can actually give you a credit boost since you’re paying off your high-interest debt with a stable, fixed-rate loan. Your on-time payments will be reported to the credit bureaus, which overtime can increase your credit score.
