How To Get A Pledge Savings Loan With Navy Federal

If you’ve been denied credit cards or loans from navy federal due to no credit history with navy federal.

Pledge Savings Loan is a great alternative way to build history and a relationship with Navy Federal.

Pledge Savings loans are great to build your credit fast without hurting your credit score.

It can also build a credit history relationship with Navy Federal Credit Union to help get you approved for loans, credit cards, and lines of credits in the future.

Navy Federal Pledge Savings Loans do not check your credit your score and you must have the loan amount in your Navy Federal Savings Accounts.

Steps on how to get a pledge loan:

1. Make sure you have $250 Min in your Saving Accounts before calling

2. Tell CSR you would like to Open a Pledge Savings Loan with the $250 min

3. CSR will give you details about the pledge loan: -First Payment (you can choose to pay on the due date or before due date) -Length of term -Interest rate -Last payment date

4. You will agree to the terms & CSR will place a hold onto the $250 in Savings Account.

5. CSR will ask where to deposit the $250 or loan amount if you have a checking account with NFCU you will deposit it there.

6. CSR will ask if you would like to set up auto-pay for the loan (this option is up to you)

7. CSR will send you a breakdown of the loan details and e-documents to sign the same day or next business day.

8. The $250 in your savings account will disappear and “Shares Pledge Loan -XXXX” will appear under your ‘LOANS AND CREDIT’ section on your online account.

9. A couple of days after you make your last payment, the $250 will reappear in your savings account for you to use however you would like and your Pledge Loan Installment Account will close.