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Founded in 1935, Pentagon Federal Credit Union, commonly known as PenFed, is a United States federal credit union that offers a variety of loans, savings and deposit accounts, credit cards, and other financial services. Headquartered in McLean, Virginia, PenFed is the nation's second largest federal credit union, with assets of $25 billion and more than 1.8 million members as of July 2018.
- Loan Amount: $600 - $50,000
- APR: 8.49% - 17.99%
- Loan Term: 1 - 5 yrs
- Check your rate without affecting your credit score
- No early payoff penalty and no origination fee
Sample loan: a four-year $5,000 loan with an interest rate of 15.49% and an APR of 18.34% will require an estimated monthly payment of $140.40 and a total cost of $6,739.14.
Latest PenFed Reviews
They apparently "approve" you for a loan at one interest rate, send you a legal looking contract that says for are approved and the funds are on the way, then without telling you a thing they more than double the "approved" rate and now you have a higher payment. Complete shell game and I would highly recommend not using PenFed or Upgrade for any personal loan!!
PS- only reason I gave a one star is because I had to put something!